If a new and more convenient material is found or the value of the money metal changes to a degree that affects the generalness of its use, industry is greatly affected.

The discovery of mines in America brought into Europe in the sixteenth century a great supply of the precious metals, and this change in the use of money reacted powerfully upon industry.
Money, being itself one of the most important of the industrial conditions, is affected by and in turn affects all others.
Sec.4.

#The precious metals as money#.

Certain of the metals early began to show their superior fitness to perform the monetary function.

The metals first used as money were copper, bronze (an alloy of copper with nickel), and iron.