A Treatise On Money And Essays On Monetary Problems
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In our eReader you can find the full English version of the book. Read A Treatise On Money And Essays On Monetary Problems 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 A Treatise On Money And Essays On Monetary Problems
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Assume that there are two systems of countries with a considerable trade, and that in the one gold alone is the standard and silver a commodity simply, whilst in the other the converse is the case. Suppose now, that, owing to causes of the nature explained above, gold prices move downwards, whilst silver prices, being under different influences, remain the same. For example, it is possible that a rapid growth of trade and population, with diminished supplies of gold in gold-using countries, mig...ht be coincident with an extension of credit and banking in silver -using countries. At any rate, let it be assumed that a divergence takes place of the kind indicated.
If the ratio of gold to silver changes in exactly the same proportion as the general level of gold to silver prices, there will be no disturbance of trade. The exports from the gold countries will sell for the same amount of silver; but this silver, being depreciated, will be worth so much less gold than before, and thus these exports will share in the general movement of gold prices.
What to read after A Treatise On Money And Essays On Monetary Problems?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Assume that there are two systems of countries with a considerable trade, and that in the one gold alone is the standard and silver a commodity simply, whilst in the other the converse is the case. Suppose now, that, owing to causes of the nature explained above, gold prices move downwards, whilst silver prices, being under different influences, remain the same. For example, it is possible that a rapid growth of trade and population, with diminished supplies of gold in gold-using countries, mig...ht be coincident with an extension of credit and banking in silver -using countries. At any rate, let it be assumed that a divergence takes place of the kind indicated.
If the ratio of gold to silver changes in exactly the same proportion as the general level of gold to silver prices, there will be no disturbance of trade. The exports from the gold countries will sell for the same amount of silver; but this silver, being depreciated, will be worth so much less gold than before, and thus these exports will share in the general movement of gold prices.
What to read after A Treatise On Money And Essays On Monetary Problems?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
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