Money And Legal Tender in the United States
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Owing to the vast amount of gold and silver which has accumulated in the world, an increased or diminished product of either or both of these metals from the mines, for even a considerable period of time, does not ordinarily affect, to any perceptible degree, their value relatively to other things.
3. The exchange or purchasing power of the pre- cious metals is due in a great degree to their long and almost universal employment as money.
4. Their relative value is more widely and quickly affect...ed by the increased or diminished use of either as money than from all other causes. This has been strikingly exemplified in our own times by the change from the silver to the gold standard by the German Empire.
5. These metals are subject to changes in their relative value which render it difficult, if not impossi- ble, to retain for a considerable period of time in any country the concurrent use of legal-tender coins of both metals in a fixed ratio.
6. If a double standard be adopted by a country, one or the other of the metals will, as a general rule, be used as the principal money of payment to the exclusion of the other.
What to read after Money And Legal Tender in the United States?
You can find similar books in the "Read Also" column, or choose other free books by H R Henry Richard Linderman to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Owing to the vast amount of gold and silver which has accumulated in the world, an increased or diminished product of either or both of these metals from the mines, for even a considerable period of time, does not ordinarily affect, to any perceptible degree, their value relatively to other things.
3. The exchange or purchasing power of the pre- cious metals is due in a great degree to their long and almost universal employment as money.
4. Their relative value is more widely and quickly affect...ed by the increased or diminished use of either as money than from all other causes. This has been strikingly exemplified in our own times by the change from the silver to the gold standard by the German Empire.
5. These metals are subject to changes in their relative value which render it difficult, if not impossi- ble, to retain for a considerable period of time in any country the concurrent use of legal-tender coins of both metals in a fixed ratio.
6. If a double standard be adopted by a country, one or the other of the metals will, as a general rule, be used as the principal money of payment to the exclusion of the other.
What to read after Money And Legal Tender in the United States?
You can find similar books in the "Read Also" column, or choose other free books by H R Henry Richard Linderman to read onlineMoreLess
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