our silver at a large discount and ship it to India, then through depressing the silver values in India, could buy their products at any price they chose. The manipulator of the plot said, “There is not one man in a million who understands the science of money. In the whole American congress there are probably not two men who understand it,” and he goes on to say: “Now, here is a five pound note—It is not money. And this silver shilling, with us, is not money. The people think they are both money. This note is a promise to pay money, and the silver piece is also by law a like promise to pay money. In each instance the money promised is gold.

“If the world is put on a gold basis, the only money will be gold—all other forms of so-called money will be promises to pay money. Paper notes and silver coin will bear the same relation to money—gold—as your checks would bear to your bank account . . .” Referring to the fraud they meant to put over, the baron continued, “We can get them (America) to shift the position of silver from money to that of credit money, and not one in ten thousand will see wherein it makes any difference. Here is another proposition they cannot see. Money, and I now mean money, measures its value in property, and property measures its value in money. Now, they all understand that the less there is of any kind of property for which there is a regular demand, the higher the price that property brings in the market, and where there is an overabundance of that kind of property the less it brings in the market. But they don’t understand that the less money there is, the higher price it brings.

“You cannot understand the feasibility of my plan until you appreciate how ignorant the people are on monetary questions. I will illustrate it this way: Suppose silver was demonetized as money in the United States,