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  • At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency and the last to receive the benefit of its correction - is practically defenseless.

    United States. President (1893-1897 : Cleveland), Grover Cleveland (1895*). “Special message, August 8th, 1893. Extract from third annual message, December 2nd, 1895”
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