Since Kitson was for de-
monetizing
silver, that seemed strange.
A-Companion-to-the-Cantos-of-Ezra-Pound-II
Thomas
Henry VI11 issued an ordinance to "Thomas, Cardinal of York, . . . legat de Leicestre of the See Apostolic. . . . " Since gold and silver coins, "in the realm of France, as also in the emperor's Low Countries," were bringing higher prices than they were in England, "the money of our realm is daily . . . con-
veyed out of this realm into parts beyonds the seas. " Something had to be done to stop the flow. The king "determined that OUr coins . . . shall be . . . from henceforth made of such fineness . . . as may be equivalent . . . in outward parts" [HMS, 323].
111. "Ad perpetuam . . . memoriam": L, "In perpetual memory of their divine libera- tion from tyranny" [HMS, 327].
112. "'Rien de ce rnonde": P, "nothing in this world. "
113. "Godt behoede": D, "God protect. "
114. Pugno pro patria: L, "Fight for [your] country. " "The revolutionary moneys of Leyden were of white pasteboard, round, about I 1/2 inches in diameter and stamped or embossed to resemble a coin . . . . Their deonominations were 24 and 40 stivers. The former bore on one side . . . 'Godt behoede Leyden,' or God protect Leyden. The latter
. Realm: In 1526
? I
618
had the city arms on one side, and 'Pugno propatria' " [HMS,327n. ].
97/673
. . .
"Is it
of Prussia were nationalized in 1806 and are in circulation today" [HMS, 353].
120. Octonary sun-worshiping: Del Mar dis- cusses two systems of weights for coinage in the 16th century and concludes: "To the experienced metrologist it is evident that both of these are hybrid systems, originating remotely in the octonary numbers and rela- tions of the sun-worship practiced in the countries of the Baltic" [HMS, 356]. Pound uses it as a musical figure recalling the sun- rites of Sargon the Great [94:55; cf. 240
below], already dealt with, and rites to come in later cantos [Peck, Pai, 1-1,27-28].
121. 371 1/4 grains: "In Spain and America during the eighteenth century it [the thaler] never fell below 3711/4 grains fine, and there it stands today in the coinage of the United States" lHMS,359].
122. as I have seen them: Pound's memory of watching men shoveling coins in a Phila- delphia mint that he visited with his father at the age of 8. He wrote Sir Montagu Webb, a British businessman: "Silver I saw, as no Aladdin, for when Cleveland was elected there was the recount of four million in the Mint vaults, the bags had rotted, and the men half-naked with open gas flares, shov- elled it into the counting-machines, with a gleam on tarnished discs" [NS, Life, 7].
123. Theresa's 390- . . . Salzburg: [Cf. above]. Other data from the tables: "Aus- tria, before 1753-390; . . . Saltzburg-
125. Kitson: Arthur K. , 1860-1937, one of Pound's favorite writers about monetary pol- icy [SP, 179,339,341,448]. Kitson wrote A Scientific Solution of the Money Ques- tion, Boston, 1894; A Fraudulent Standard,
1917, rpl. Omni Publications, 1972.
126. Legal . . . Zollverein: "From 1st Janu- ary, 1841, the thaler . . . was to be the sale full legal-tender money of the Prussian States. . . . Besides this, a new coin . . . was to be struck, 7 to the mark fine, which should be legal in all the States of the Zollve- rein" [HMS,359-360].
127. crisis: "In 1873 there was a crisis,S" note 8 says: "Paper money 106 millions more than previous year" [RMS, 363].
128. in vain did Hume: A great fear grew in the commercial world: so much gold would be mixed and become money that disastrous inflation, "that is disastrous to millionaires," would result. "In vain had Hume . . . shown that rises of prices occasioned by an increase of metallic money had benefited not only the poor, but the rich as well" [HMS,370].
129. Hume: Joseph H. , 1777-1855, a mem- ber of the House of Commons who made a number of speeches over the years on mone- tary questions, many of which were pub- lished, such as: "On the Banks of England; and the State of the Currency" (1839) and "Economy and Retrenchment" (1822).
130. in vain Von Humboldt: In vain had Von Humboldt, whose familiarity with his- tory . . . and with mining should have enti- tled him to speak with some authority . . . assured the world that the vast disparity between the world's stock of coins of the precious metals, compared with any addi- tions that might be made to it, rendered the latter a very trifling factor in the account . . .
His 5-vo1. Cosmos proved him one of the great minds of the 19th century. Del Mar calls him "this most illustrious of Germans and of savants" but says, "Von Humboldt's book, 'The Fluctuations of Gold,' was COll- signed to obliVion, and the essays of the Metallic School were hailed with applause, translated into all languages, and published in every country of Europe and America"
[ibid. ].
132. Such suckers . . . Liverpool: The "Me- tallic School" taught that "the unit of mon- ey is both the whole volume of money and each indivisible fraction of it; money is me- tal, and metal is money; finally, the national honor is subject to the comparative output of the gold and silver mines! All these and many other sophistries will be found in the essays of Harris, Chevalier and Lord liver- pool" [HMS, 371]. This issue involves a central doctrine of Social Credit, now several hundred years old. One must understand why Hume, Von Humboldt, Douglas, Kit- son, Orage, Pound, and dozens of others found these arguments "sophistries" to un- derstand the central thesis of Social Credit.
To agree with the "Metallic School" is to agree that money is just a form of barter and not a legal instrument [Del Mar, Science, 25-56].
133. Cobden: "[These sophistries] led . . . Mr. Cobden to recommend corn rents and payments in kind. " A footnote says: "Che- valier's essays were published . . . shortly af- ter the opening of California. Most of the sophistries [are] . . . in the first chapter of his subsequent work 'The Fall in the Value of Gold,' translated by Cobden" [HMS, 371].
115. degradations
yet clearly understood that whatever degra- dation of money was committed by the em- perors, whatever debasement was afterwards committed by the kings, these have since been vastly exceeded by the dishonest use made of 'individual' coinage and the control of bank issues? Not at all. The Emperors of Rome controlled emissions . . . for thirteen centuries, and the kings and dukes for nearly four centuries afterwards; whilst the usurers
have held it to the present time, for about two centuries. . . . During these two centu- ries . . . more losses have been occasioned to the industrial classes . . . than were made by alI the degradations and debasements of the Imperial and regal periods put together. . . . 'The control of money' says an eloquent writer on the subject, 'is the ground upon which an international or cosmopolitan com- bination "finances" the world and "farms" humanity. ' " [HMS,330-331].
116. Kitson, Fenton . . . : Del Mar footnote identifying the eloquent writer: "Reginald Fenton, Esq. formerly of Kim- berly, South Africa, now of San Diego, Cali- fornia. 'The distribution of wealth and the exploitation of some men by others are de-
pendent upon money. ' Count Leo Tolstoi in his Essay on Money in Kitson's 'Scientific Solution of the Money Question'" [HMS, 33In. ; EH,Pai, 4-1,182-185].
117. Brooks Adams: American historian, 1848-1927, whose works, especially The Law o f Civilization and Decay, were admired
by Pound [SP, 307-309].
118. "Salzburg: Saltzburg. "In 1763 an im-
perial decree. ,. established a convention coinage rate [for North German States]: . . . 360. 8 grains fine siher to the riks thaler effectives . . . the Austrian 'effectives' struck under this convention actually contained but 353. 7 grains . . . Saltzburg alone struck them
of full weight" [HMS, 352].
119. The 1806 . . . years: "The paper notes
resemblance:
has a
3581/5; . . . Austria 1753 (nominally actually-3533/4" [HMS,358].
118
361 gr)
124. Bryan: William Jennings B. ,
1925. During Bryan's campaign for president in 1896, Arthur Kitson jumped on his free- silver bandwagon.
Since Kitson was for de- monetizing silver, that seemed strange. After Bryan's death, Kitson said Bryan understood "that the real issue was to gain presidential control of the national credit" [EH, Pai, 4-1,
183]. Pound wrote to Stock years later: "William J. Bryan admitted to Arthur Kitson many years ago that the 'Free Silver' cam- paign was window dressing" [ibid. ].
1850-
97/673-674
619
usurers . . .
131. V on Hutnboldt:
von H. , 1769-1859, German scientist, ex- plorer, and natural philosopher, who served in the Prussian department of mines and afterwards made worldwide explorations.
the money-lenders and ter" [HMS, 370] .
knew bet-
Alexander
Freiherr
134. V on
more power to banks to issue money, "in the interest of international circulation," were opposed by some: "the declaration of Von Schultz, that to sign away the indepen- dence of the State in reference to money would constitute an act of treason. " A foot- note to this statement says: "Sir Wrn. Har- court said he was 'not willing to place the
Schultz:
Arguments
to extend
? ? 620
97/674
97/674-675
currency of England at the mercy of foreign States' " [HMS,378].
135. Frank Harris: 1854? 1931, a famous editor, critic, novelist, playwright and auto- biographer. In Blast, Pound includes him on the list of those to be blessed. Where or when he said this is not yet known. But the context suggests the banking industry's abili- ty to create money based on ambiguous backing.
136. Albuquerque . . . Goa: "Albuquer? que . . . raised the flag of Portugal upon the battlements of Goa. " Right away he issued "an unauthorized and debased coinage of gold, silver and copper . . . to relieve [so he
and selfish a spirit, that its arbiters have repeatedly plunged the commercial world in? to bankruptcy and confiscated . . . its accu- mulated earnings, either for their own bene- fit or else to save themselves from the effects of their own blundering" [HMS, 390].
142. ao? icx: H, "wisdom"
143. 7fian<:: H, "trust [in others]. " G. R. S Mead edited a Gnostic miscellany entitled
150. 1858 . . . : A
this entry: "1858-15. 0-The British Crown resumes its prerogative of the government of India. End of the East India Company"
[HMS, 397].
151. Sylla . . . Byzantium: A table entitled "The Roman Ratio" has these entries: "78 B. c. -9-Sylla. Social Wars. " And, "A. D. 1204-Alexis IV, sovereign? pontiff. Fall of the [Byzantine] Empire" [ibid. ].
152. "The signal . . . Marble": "In 1868, one of the two great national parties . . . [in favor of retaining] the greenback . . . was suddenly deserted by its leaders on the eve of the Presidential election and . . . defeated
coins . . .
fact] to buy the gold . . . and sell it . . . at
cent per cent profit" [HMS, 387? 388].
137. 18, CHARLES . . . 5: An act of Charles II which to Pound was the climax of a long process that finally put the right of coinage into the hands of banks. "The Brit- ish East India Company . . . struck idola? trous coins, under native permission, in 1620; and, with the door thus ajar to private coinage, it was easily pushed wide open. An intrigue with this object was introduced . . , during the reign of Charles I, which bIos? somed during that of his SOD, in the Act 18 Charles II. , c. 5, an Act that bargained away the Measure of Value" [HMS, 388].
138. 1816: "In 1816 the Crown was per? suaded to suspend the exercise of its power over the ratio. In this manner was silver demonetized. By the . . . Mint Act of 1870 [of Queen Victoria] . . . the last remnant of a prerogative whose exercise is essential to the autonomy of the State was innocently surrendered to private hands" [HMS, 389].
139. "Victoria . . . ": [35:48]. The caption under a Max Beerbopm cartoon.
140. Ideogram: I [M3002], "right conduct" or "public spirit. "
141. Goldsmiths: Concerning the power of goldsmiths Del Mar says: "These tremendous powers have been wielded . . . in so narrow
at Washington, 1876" [HMS, 39In. ].
said] a local
dearth of
[but in
polls. . . .
The signal of
Pistis Sophia [Peck, Pai, 1? 1, 28]. 144. Gansl . . . death: "Consult the
writer's [Del Mar's] examination of Mr Albert Gansl, banker and agent of the Rothschilds before the U. S. Monetary Commission, printed . . .
. . .
146. "Portcullis . . . devices": In a table entitled "Ratio of Silver to Gold in India," we read: "1677-East India Company autho? rized by the British Crown [then Charles II] to coin gold, silver, copper, or lead, with its own devices" [HMS, 396].
": "The
145. "Duped
1873 were duped into doubling their indebt? edness [have dispensed] . . . with that mis? chief of Private Coinage. . . . Most of them now exercise. . . a more or less complete control over their own monetary systems"
[HMS, 392].
147. Assyria . . . somewhere:
epoch of Mahomet, . . every state in the West . . . [seemed] to value its gold coins at twice the quantity of silver for which they exchanged in the Orient. Such was the case with Assyria, Babylonia, Persia, Macedon . . . and Imperial Rome" [HMS, 393].
148. (abbreviare): L, I, "to abridge, short? en. " Various tables in the source show that over the years [1650 B. C. to A. D. 1893] the differences between the Orient-to-West ra- tios became smaller [HMS, 394-400].
149. Steed: Henry Wickham S. (1871? 1956), foreign ed. of the London Times, author of numerous books, lecturer on Central Euro- pean history at King's College. Also owner and ed. of the Review o f Reviews, founded by W. T.
Henry VI11 issued an ordinance to "Thomas, Cardinal of York, . . . legat de Leicestre of the See Apostolic. . . . " Since gold and silver coins, "in the realm of France, as also in the emperor's Low Countries," were bringing higher prices than they were in England, "the money of our realm is daily . . . con-
veyed out of this realm into parts beyonds the seas. " Something had to be done to stop the flow. The king "determined that OUr coins . . . shall be . . . from henceforth made of such fineness . . . as may be equivalent . . . in outward parts" [HMS, 323].
111. "Ad perpetuam . . . memoriam": L, "In perpetual memory of their divine libera- tion from tyranny" [HMS, 327].
112. "'Rien de ce rnonde": P, "nothing in this world. "
113. "Godt behoede": D, "God protect. "
114. Pugno pro patria: L, "Fight for [your] country. " "The revolutionary moneys of Leyden were of white pasteboard, round, about I 1/2 inches in diameter and stamped or embossed to resemble a coin . . . . Their deonominations were 24 and 40 stivers. The former bore on one side . . . 'Godt behoede Leyden,' or God protect Leyden. The latter
. Realm: In 1526
? I
618
had the city arms on one side, and 'Pugno propatria' " [HMS,327n. ].
97/673
. . .
"Is it
of Prussia were nationalized in 1806 and are in circulation today" [HMS, 353].
120. Octonary sun-worshiping: Del Mar dis- cusses two systems of weights for coinage in the 16th century and concludes: "To the experienced metrologist it is evident that both of these are hybrid systems, originating remotely in the octonary numbers and rela- tions of the sun-worship practiced in the countries of the Baltic" [HMS, 356]. Pound uses it as a musical figure recalling the sun- rites of Sargon the Great [94:55; cf. 240
below], already dealt with, and rites to come in later cantos [Peck, Pai, 1-1,27-28].
121. 371 1/4 grains: "In Spain and America during the eighteenth century it [the thaler] never fell below 3711/4 grains fine, and there it stands today in the coinage of the United States" lHMS,359].
122. as I have seen them: Pound's memory of watching men shoveling coins in a Phila- delphia mint that he visited with his father at the age of 8. He wrote Sir Montagu Webb, a British businessman: "Silver I saw, as no Aladdin, for when Cleveland was elected there was the recount of four million in the Mint vaults, the bags had rotted, and the men half-naked with open gas flares, shov- elled it into the counting-machines, with a gleam on tarnished discs" [NS, Life, 7].
123. Theresa's 390- . . . Salzburg: [Cf. above]. Other data from the tables: "Aus- tria, before 1753-390; . . . Saltzburg-
125. Kitson: Arthur K. , 1860-1937, one of Pound's favorite writers about monetary pol- icy [SP, 179,339,341,448]. Kitson wrote A Scientific Solution of the Money Ques- tion, Boston, 1894; A Fraudulent Standard,
1917, rpl. Omni Publications, 1972.
126. Legal . . . Zollverein: "From 1st Janu- ary, 1841, the thaler . . . was to be the sale full legal-tender money of the Prussian States. . . . Besides this, a new coin . . . was to be struck, 7 to the mark fine, which should be legal in all the States of the Zollve- rein" [HMS,359-360].
127. crisis: "In 1873 there was a crisis,S" note 8 says: "Paper money 106 millions more than previous year" [RMS, 363].
128. in vain did Hume: A great fear grew in the commercial world: so much gold would be mixed and become money that disastrous inflation, "that is disastrous to millionaires," would result. "In vain had Hume . . . shown that rises of prices occasioned by an increase of metallic money had benefited not only the poor, but the rich as well" [HMS,370].
129. Hume: Joseph H. , 1777-1855, a mem- ber of the House of Commons who made a number of speeches over the years on mone- tary questions, many of which were pub- lished, such as: "On the Banks of England; and the State of the Currency" (1839) and "Economy and Retrenchment" (1822).
130. in vain Von Humboldt: In vain had Von Humboldt, whose familiarity with his- tory . . . and with mining should have enti- tled him to speak with some authority . . . assured the world that the vast disparity between the world's stock of coins of the precious metals, compared with any addi- tions that might be made to it, rendered the latter a very trifling factor in the account . . .
His 5-vo1. Cosmos proved him one of the great minds of the 19th century. Del Mar calls him "this most illustrious of Germans and of savants" but says, "Von Humboldt's book, 'The Fluctuations of Gold,' was COll- signed to obliVion, and the essays of the Metallic School were hailed with applause, translated into all languages, and published in every country of Europe and America"
[ibid. ].
132. Such suckers . . . Liverpool: The "Me- tallic School" taught that "the unit of mon- ey is both the whole volume of money and each indivisible fraction of it; money is me- tal, and metal is money; finally, the national honor is subject to the comparative output of the gold and silver mines! All these and many other sophistries will be found in the essays of Harris, Chevalier and Lord liver- pool" [HMS, 371]. This issue involves a central doctrine of Social Credit, now several hundred years old. One must understand why Hume, Von Humboldt, Douglas, Kit- son, Orage, Pound, and dozens of others found these arguments "sophistries" to un- derstand the central thesis of Social Credit.
To agree with the "Metallic School" is to agree that money is just a form of barter and not a legal instrument [Del Mar, Science, 25-56].
133. Cobden: "[These sophistries] led . . . Mr. Cobden to recommend corn rents and payments in kind. " A footnote says: "Che- valier's essays were published . . . shortly af- ter the opening of California. Most of the sophistries [are] . . . in the first chapter of his subsequent work 'The Fall in the Value of Gold,' translated by Cobden" [HMS, 371].
115. degradations
yet clearly understood that whatever degra- dation of money was committed by the em- perors, whatever debasement was afterwards committed by the kings, these have since been vastly exceeded by the dishonest use made of 'individual' coinage and the control of bank issues? Not at all. The Emperors of Rome controlled emissions . . . for thirteen centuries, and the kings and dukes for nearly four centuries afterwards; whilst the usurers
have held it to the present time, for about two centuries. . . . During these two centu- ries . . . more losses have been occasioned to the industrial classes . . . than were made by alI the degradations and debasements of the Imperial and regal periods put together. . . . 'The control of money' says an eloquent writer on the subject, 'is the ground upon which an international or cosmopolitan com- bination "finances" the world and "farms" humanity. ' " [HMS,330-331].
116. Kitson, Fenton . . . : Del Mar footnote identifying the eloquent writer: "Reginald Fenton, Esq. formerly of Kim- berly, South Africa, now of San Diego, Cali- fornia. 'The distribution of wealth and the exploitation of some men by others are de-
pendent upon money. ' Count Leo Tolstoi in his Essay on Money in Kitson's 'Scientific Solution of the Money Question'" [HMS, 33In. ; EH,Pai, 4-1,182-185].
117. Brooks Adams: American historian, 1848-1927, whose works, especially The Law o f Civilization and Decay, were admired
by Pound [SP, 307-309].
118. "Salzburg: Saltzburg. "In 1763 an im-
perial decree. ,. established a convention coinage rate [for North German States]: . . . 360. 8 grains fine siher to the riks thaler effectives . . . the Austrian 'effectives' struck under this convention actually contained but 353. 7 grains . . . Saltzburg alone struck them
of full weight" [HMS, 352].
119. The 1806 . . . years: "The paper notes
resemblance:
has a
3581/5; . . . Austria 1753 (nominally actually-3533/4" [HMS,358].
118
361 gr)
124. Bryan: William Jennings B. ,
1925. During Bryan's campaign for president in 1896, Arthur Kitson jumped on his free- silver bandwagon.
Since Kitson was for de- monetizing silver, that seemed strange. After Bryan's death, Kitson said Bryan understood "that the real issue was to gain presidential control of the national credit" [EH, Pai, 4-1,
183]. Pound wrote to Stock years later: "William J. Bryan admitted to Arthur Kitson many years ago that the 'Free Silver' cam- paign was window dressing" [ibid. ].
1850-
97/673-674
619
usurers . . .
131. V on Hutnboldt:
von H. , 1769-1859, German scientist, ex- plorer, and natural philosopher, who served in the Prussian department of mines and afterwards made worldwide explorations.
the money-lenders and ter" [HMS, 370] .
knew bet-
Alexander
Freiherr
134. V on
more power to banks to issue money, "in the interest of international circulation," were opposed by some: "the declaration of Von Schultz, that to sign away the indepen- dence of the State in reference to money would constitute an act of treason. " A foot- note to this statement says: "Sir Wrn. Har- court said he was 'not willing to place the
Schultz:
Arguments
to extend
? ? 620
97/674
97/674-675
currency of England at the mercy of foreign States' " [HMS,378].
135. Frank Harris: 1854? 1931, a famous editor, critic, novelist, playwright and auto- biographer. In Blast, Pound includes him on the list of those to be blessed. Where or when he said this is not yet known. But the context suggests the banking industry's abili- ty to create money based on ambiguous backing.
136. Albuquerque . . . Goa: "Albuquer? que . . . raised the flag of Portugal upon the battlements of Goa. " Right away he issued "an unauthorized and debased coinage of gold, silver and copper . . . to relieve [so he
and selfish a spirit, that its arbiters have repeatedly plunged the commercial world in? to bankruptcy and confiscated . . . its accu- mulated earnings, either for their own bene- fit or else to save themselves from the effects of their own blundering" [HMS, 390].
142. ao? icx: H, "wisdom"
143. 7fian<:: H, "trust [in others]. " G. R. S Mead edited a Gnostic miscellany entitled
150. 1858 . . . : A
this entry: "1858-15. 0-The British Crown resumes its prerogative of the government of India. End of the East India Company"
[HMS, 397].
151. Sylla . . . Byzantium: A table entitled "The Roman Ratio" has these entries: "78 B. c. -9-Sylla. Social Wars. " And, "A. D. 1204-Alexis IV, sovereign? pontiff. Fall of the [Byzantine] Empire" [ibid. ].
152. "The signal . . . Marble": "In 1868, one of the two great national parties . . . [in favor of retaining] the greenback . . . was suddenly deserted by its leaders on the eve of the Presidential election and . . . defeated
coins . . .
fact] to buy the gold . . . and sell it . . . at
cent per cent profit" [HMS, 387? 388].
137. 18, CHARLES . . . 5: An act of Charles II which to Pound was the climax of a long process that finally put the right of coinage into the hands of banks. "The Brit- ish East India Company . . . struck idola? trous coins, under native permission, in 1620; and, with the door thus ajar to private coinage, it was easily pushed wide open. An intrigue with this object was introduced . . , during the reign of Charles I, which bIos? somed during that of his SOD, in the Act 18 Charles II. , c. 5, an Act that bargained away the Measure of Value" [HMS, 388].
138. 1816: "In 1816 the Crown was per? suaded to suspend the exercise of its power over the ratio. In this manner was silver demonetized. By the . . . Mint Act of 1870 [of Queen Victoria] . . . the last remnant of a prerogative whose exercise is essential to the autonomy of the State was innocently surrendered to private hands" [HMS, 389].
139. "Victoria . . . ": [35:48]. The caption under a Max Beerbopm cartoon.
140. Ideogram: I [M3002], "right conduct" or "public spirit. "
141. Goldsmiths: Concerning the power of goldsmiths Del Mar says: "These tremendous powers have been wielded . . . in so narrow
at Washington, 1876" [HMS, 39In. ].
said] a local
dearth of
[but in
polls. . . .
The signal of
Pistis Sophia [Peck, Pai, 1? 1, 28]. 144. Gansl . . . death: "Consult the
writer's [Del Mar's] examination of Mr Albert Gansl, banker and agent of the Rothschilds before the U. S. Monetary Commission, printed . . .
. . .
146. "Portcullis . . . devices": In a table entitled "Ratio of Silver to Gold in India," we read: "1677-East India Company autho? rized by the British Crown [then Charles II] to coin gold, silver, copper, or lead, with its own devices" [HMS, 396].
": "The
145. "Duped
1873 were duped into doubling their indebt? edness [have dispensed] . . . with that mis? chief of Private Coinage. . . . Most of them now exercise. . . a more or less complete control over their own monetary systems"
[HMS, 392].
147. Assyria . . . somewhere:
epoch of Mahomet, . . every state in the West . . . [seemed] to value its gold coins at twice the quantity of silver for which they exchanged in the Orient. Such was the case with Assyria, Babylonia, Persia, Macedon . . . and Imperial Rome" [HMS, 393].
148. (abbreviare): L, I, "to abridge, short? en. " Various tables in the source show that over the years [1650 B. C. to A. D. 1893] the differences between the Orient-to-West ra- tios became smaller [HMS, 394-400].
149. Steed: Henry Wickham S. (1871? 1956), foreign ed. of the London Times, author of numerous books, lecturer on Central Euro- pean history at King's College. Also owner and ed. of the Review o f Reviews, founded by W. T.
