Rational Money : a National Currency Intelligently Regulated in Reference to the Multiple Standard
Rational Money : a National Currency Intelligently Regulated in Reference to the Multiple Standard
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Gold and copper had to be imported, while the silver mines were controlled by Athens; hence the other Greek states were compelled to employ numerical moneys. This was resorted to so commonly and at so many different times as to familiarize the Greek mind generally with the idea that money was an institution of law; and hence the name of law, prescription, limit, numbers or nomos was the generic name always conferred upon it (p. 162). (See Aristotle's Definitions of Money in Gide's Political Eco...n., p. 216, and Senator Jones' silver speech in United States Senate Oct. 18 and following dates, 1893, p. 29).
5. Sparta. The famous iron money of Sparta, upon which Plu- tarch has poured such ridicule, is believed by Del Mar to be a purely numerary money adopted by Lycurgus either because of "scarcity of metals, or of the desire to emancipate the country from the trammels of a metallic basis of valuation." The intrinsic (i. e., commodity) value of this iron was destroyed in advance by dipping the coins while redhot into vinegar.
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To quickly assess the difficulty of the text, read a short excerpt:
Gold and copper had to be imported, while the silver mines were controlled by Athens; hence the other Greek states were compelled to employ numerical moneys. This was resorted to so commonly and at so many different times as to familiarize the Greek mind generally with the idea that money was an institution of law; and hence the name of law, prescription, limit, numbers or nomos was the generic name always conferred upon it (p. 162). (See Aristotle's Definitions of Money in Gide's Political Eco...n., p. 216, and Senator Jones' silver speech in United States Senate Oct. 18 and following dates, 1893, p. 29).
5. Sparta. The famous iron money of Sparta, upon which Plu- tarch has poured such ridicule, is believed by Del Mar to be a purely numerary money adopted by Lycurgus either because of "scarcity of metals, or of the desire to emancipate the country from the trammels of a metallic basis of valuation." The intrinsic (i. e., commodity) value of this iron was destroyed in advance by dipping the coins while redhot into vinegar.
What to read after Rational Money : a National Currency Intelligently Regulated in Reference to the Multiple Standard?
You can find similar books in the "Read Also" column, or choose other free books by Parsons, Frank, 1854-1908 to read onlineMoreLess
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