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Excerpt from Will the Present Upward Trend of World Prices Continue?
The same principle applies to oriental hoards in the form of ornaments. Centuries ago Englishmen used to put part of their hoards into plate which could be reconverted into coin if emergency required. With the advent of banking devices such a custom has long since disappeared. It is to be expected that little by little the same process will turn part of the oriental hoards of ornaments into monetary use. Thus, as a consequence Of the introduction of western civilization into the Orient, we have the prospect of further additions to the effective use of the world's gold, a further virtual in¿ation of the currency.
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