Leland Stanford Quotes
Money is the great tool through whose means labor and skill become universally co-operative.
Stanford, Leland. Co-operation of Labor: Speech of Hon. Leland Stanford of California in the Senate of the United States, February 16, 1887. Washington: Government Printing Office, 1887.
There has always been a fear of inflation and currency debasement by governments. Since ancient times, rulers issued coins and when they were made of cheap metals like copper or iron, the ruler could mint as much as he wanted and when he did so the value went down. By using only precious metals, gold and silver, for coins, there would be a natural restraint on government. Garfield was one of those who believed that we should always have money of gold and silver. The United States would use that principle for the next century even backing its paper money with gold and silver. In the Nixon administration the United States abandoned the gold standard. Today, it is the ability of a country to produce things that maintains value of paper money which has been supplanted in many cases by electronic money.
Amasa Leland Stanford was an American industrialist and politician. He was the founder (with his wife, Jane) of Stanford University. Migrating to California from New York at the time of the Gold Rush, he became a successful merchant and wholesaler, and continued to build his business empire. He spent one two-year term as Governor of California after his election in 1861, and later eight years as a United States Senator. As president of Central Pacific Railroad, beginning in 1861, and later Southern Pacific, he had tremendous power in the region and a lasting impact on California. He is widely considered a robber baron.
