Many of these difficulties incident on adopting gold could be avoided by starting on a real silver basis; the silver money in circulation will then always be worth its intrinsic value, unless popular fancy for certain coins plays a part and makes them appreciate in value. The intrinsic value can every day be ascertained on the basis of the world's price of silver. The danger of counterfeiting would then be reduced, since the coining of counterfeit "good" money with the requisite fineness and weight would leave no profit. Moreover there would be no need for maintaining a fictitious value of the silver in circulation, as the real value would be the only basis; the difficulty of maintaining the parity of the currency in foreign exchange would also be avoided; and the stocks of silver in the country to the extent of their whole intrinsic value would form the security for the maintenance of that parity.