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" "Of all tyrannies of unreason in the modern world, one holds a supremely evil preeminence. It covered the period from the middle of the sixteenth century to the middle of the seventeenth, and throughout those hundred years was waged a war of hatreds,—racial, religious, national, and personal;—of ambitions, ecclesiastical and civil;—of aspirations, patriotic and selfish;—of efforts, noble and vile. During all those weary generations Europe became one broad battlefield,—drenched in human blood and lighted from innumerable scaffolds. In this confused struggle great men appeared—heroes and martyrs, ruffians and scoundrels: all was anarchic. The dominant international gospel was that of Machiavelli.
Andrew Dickson White (November 7, 1832 – November 4, 1918) was an American diplomat, author, and educator who was the co-founder and first president of Cornell University.
Biography information from Wikiquote
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A change had indeed been brought by the emancipation of the serfs, but there was little outward sign of it. The muzhik remained, to all appearance, what he was before: in fact, as our train drew into St. Petersburg, the peasants, with their sheepskin caftans, cropped hair, and stupid faces, brought back the old impressions so vividly that I seemed not to have been absent a week. The old atmosphere of repression was evident everywhere. I had begun my experience of it under Nicholas I, had seen a more liberal policy under Alexander II, but now found a recurrence of reaction, and everywhere a pressure which deadened all efforts at initiating a better condition of things.
Turgot's attempt... showed how the results that had followed Law's issues of paper money must follow all such issues. As regards currency inflation, Turgot saw that the issue of paper money beyond the point where it is convertible into coin is the beginning of disaster—that a standard of value must have value, just as a standard of length must have length, or a standard of capacity, capacity, or a standard of weight, weight. He showed that if a larger amount of the circulating medium is issued than is called for by the business of the country, it will begin to be discredited, and that paper, if its issue be not controlled by its relation to some real standard of value, inevitably depreciates no matter what stamp it bears. Turgot developed his argument [on currency inflation] with a depth, strength, clearness, and breadth, which have amazed every dispassionate reader from that day to this. It still remains one of the best presentations of this subject ever made; and what adds to our wonder is that it was not the result of a study of authorities, but was worked out wholly from his own observation and thought. Up to this time there were no authorities and no received doctrine on the subject; there were simply records of financial practice more or less vicious; it was reserved for this young student, in a letter not intended for publication, to lay down for the first time the great law in which the modern world, after all its puzzling and costly experiences, has found safety.
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