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The Dollar to-day is a different measure from the Dollar of yesterday.

— Edgar Lawrence Smith Common Stocks as Long Term Investments (1924)

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More quotes by Edgar Lawrence Smith

In periods of high interest rates, such as were current in 1866, long term bonds are not freely offered, as the managements of issuing companies endeavor to protect themselves against the permanent payment of such rates.

Common Stocks as Long Term Investments (1924)

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Quote text and notes from Wikiquote: Edgar Lawrence Smith (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.