Harper's Weekly

“ Morton, if, having nothing to say, as he stated, he was still resolved to speak.
But, as a statesman and a practical man he must be aware that he seriously weakens his influence and his standing among sensible men by so contemptuously flouting experience and the result of the wisest observation and thought. If, as he says, he has read all the books, he knows that, so far as the fundamental facts are concerned, there is no essential difference between the situation of this country and that of all other commercial and manufacturing countries with an irredeemable currency. ”

“ Again, while denouncing theorists, he knows, of course, “from the books” that the theorist Adam Smith has influenced the prosperity of England more than any other man, and that it was the Manchester theorists who converted that eminent practical statesman, Sir Robert Peel, and persuaded him to the best act of his public career. The world is ruled by thinkers, who are always denounced as theorists, and legislation is really practical and beneficial only so far as it conforms to the conclusions of thought and observation. ”

“ From the same sources, also, he must know that no argument for inflation has been advanced in Congress which has not been more powerfully urged in Parliament and elsewhere, and utterly refuted by the most trained practical sagacity. ”