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Gold and silver like other commodities have an intrinsic value which is not arbitrary but is dependent on their scarcity the quantity of labour bestowed in procuring them and the value of the capital employed in the mines which produce them.

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For the first half of geological time our ancestors were bacteria. Most creatures still are bacteria and each one of our trillions of cells is a colony of bacteria.

The founders of a new colony whatever Utopia of human virtue and happiness they might originally project have invariably recognized it among their earliest practical necessities to allot a portion of the virgin soil as a cemetery and another portion as the site of a prison.