The Rate of Interest Its Nature Determination And Relation to Economic Phenome
The Rate of Interest Its Nature Determination And Relation to Economic Phenome
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By large Emissions it became 27 s. In the Autumn, A. 1734; is 22 per Cent, loss of Principal ; and the Lender to save his Principal ; requires 28 per Cent, natural Interest for that Year. Thus the larger the Emissions, natural Interest becomes the higher ; therefore the Advocates for Paper Money (who are generally indigent Men, and Borrowers) ought not to complain, when they hire Money at a dear nominal Rate.
"If Bills were to depreciate after a certain Rate, Justice might be done to both contr...acting Parties, by imposing the Loss which the Principal may sustain in any certain Space of Time (the Period of Payment), upon the Interest of a Bond or Price of Goods : but as Depreciations are uncer- tain, great Confusions in Dealings happen. " 1 Now identified as the physician, William Douglass.
356 APPRECIATION AND INTEREST 357 John Stuart Mill expressed the same view/ as have also Robert Goodbody, ^ Jacob de Haas, ^ and Professor John B. Clark. * A principle which apparently has been independently discovered by each of these economic students and quite pos- sibly by others, * is likely to be of some importance.
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You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
By large Emissions it became 27 s. In the Autumn, A. 1734; is 22 per Cent, loss of Principal ; and the Lender to save his Principal ; requires 28 per Cent, natural Interest for that Year. Thus the larger the Emissions, natural Interest becomes the higher ; therefore the Advocates for Paper Money (who are generally indigent Men, and Borrowers) ought not to complain, when they hire Money at a dear nominal Rate.
"If Bills were to depreciate after a certain Rate, Justice might be done to both contr...acting Parties, by imposing the Loss which the Principal may sustain in any certain Space of Time (the Period of Payment), upon the Interest of a Bond or Price of Goods : but as Depreciations are uncer- tain, great Confusions in Dealings happen. " 1 Now identified as the physician, William Douglass.
356 APPRECIATION AND INTEREST 357 John Stuart Mill expressed the same view/ as have also Robert Goodbody, ^ Jacob de Haas, ^ and Professor John B. Clark. * A principle which apparently has been independently discovered by each of these economic students and quite pos- sibly by others, * is likely to be of some importance.
What to read after The Rate of Interest Its Nature Determination And Relation to Economic Phenome?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
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