text:  We attributed it then and we attribute it now to an unexampled glut in the money market which we hold to be in this trading country the most destructive of any saving and excepting a glut in agricultural produce and labour; and for this very plain reason that a glut of money resolves itself sooner or later into a glut of goods thereby carrying the amount of production in the country far beyond the amount of the consumption and demand and so necessarily for a time closing the door against all the outlets of industry