ABSTRACT
A fall in the value of gold virtually violates every contract expressed in gold money, and benefits the debtor at the expense of the creditor. The incomes and property of the following classes of persons are perfectly fixed in money amount and suffer to the whole extent of the depreciation of gold, it being understood that the payments contracted for are expressed in British or gold money. Tolls on railways, canals, telegraphs, steam-boats, etc., may be raised, or a lowering deferred by the fall of the value of gold. Post-office charges, especially the penny stamp, will certainly not be raised in consequence of gold depreciation, but the continuous increase of the revenue more than covers any depreciation. The greater part of the expenditure of all individuals consists of payments for food, clothing, variable rent, and innumerable charges which increase pari passu with the depreciation of gold.
