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Excerpt from Gold: The Romance of Its Discovery in Australia
Nor has mankind reached a sufiicient stage 'of mutual trust to rely wholly upon credits and book entries in international dealings. Gold is dur able, of unvarying quality; no other commodity is as suitable for money. The exact price, now a fine oz. In Australia, depends on the exchange rate. Similar factors apply in Britain and America. Because reductions of international exchange rates cause the ills of deflation, the balance of evidence is that the price of gold is likely to stay where it is or go even higher, rather than fall.
Much has been learned about management oi credit and monetary systems, but gold will remain.
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