Principles of Money And Coinage
Principles of Money And Coinage
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In our eReader you can find the full English version of the book. Read Principles of Money And Coinage Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of Money And Coinage
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W. G. Sumner of Yale Col- lege is upon record as saying that international bimetallism is impossible, no matter how many nor how important the nations which join in the agreement. This was not given in a tentative form but in the most positive, unconditional and dogmatic lan- guage. An English writer of great industry if not of wide celebrity, is equally positive as to the impossibility of the scheme and assigns for a reason that gold and silver are not and cannot be produced upon exactly paral...lel lines of cost, and hence cannot move along in time on precisely parallel lines of value. Relative values he asserts, after Ricardo and many later economists, are determined by cost of production; and as 16 ounces of silver can never be produced, or for any great length of time at the same cost as one ounce of gold, they cannot for any great length of time have the same value.
Reference has been made in a previous paper of this series to the subject of cost of production and attention directed to a necessary difference in the meaning of the word "production" as applied to the precious metals and as applied to the cereals and a host of other things.
What to read after Principles of Money And Coinage?
You can find similar books in the "Read Also" column, or choose other free books by Thomas B Buchanan to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
W. G. Sumner of Yale Col- lege is upon record as saying that international bimetallism is impossible, no matter how many nor how important the nations which join in the agreement. This was not given in a tentative form but in the most positive, unconditional and dogmatic lan- guage. An English writer of great industry if not of wide celebrity, is equally positive as to the impossibility of the scheme and assigns for a reason that gold and silver are not and cannot be produced upon exactly paral...lel lines of cost, and hence cannot move along in time on precisely parallel lines of value. Relative values he asserts, after Ricardo and many later economists, are determined by cost of production; and as 16 ounces of silver can never be produced, or for any great length of time at the same cost as one ounce of gold, they cannot for any great length of time have the same value.
Reference has been made in a previous paper of this series to the subject of cost of production and attention directed to a necessary difference in the meaning of the word "production" as applied to the precious metals and as applied to the cereals and a host of other things.
What to read after Principles of Money And Coinage?
You can find similar books in the "Read Also" column, or choose other free books by Thomas B Buchanan to read onlineMoreLess
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