An Honest Dollar

Cover An Honest Dollar
An Honest Dollar
Andrews Elisha Benjamin
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(2) If it will, what are the causes of the change, facts connected more with the gold, or facts connected more with com rnodities? And (3) pro- vided gold has increased in value per grain, what harm, if any, has this done? These are very important problems.
Answer to the first is . obtained by defining terms.
In these, as they touch this discussion, the utmost looseness prevails. For instance, nothing is commoner than to hear a reasoner admitting that general prices have indeed fallen, but decl
...aring that the fall has been caused by the cheapening of commodities, not by any appreciation in gold. This is a contradiction. If gen- eral (gold) prices have fallen, gold has risen, appreciated.
A fall of general prices is nothing else but an elevation in the value of the money in which they are appraised, and this is equally true whatever the cause of the change. Suppose the new relation between gold and goods to have grown solely out of the lessened cost of goods, it is none the less a fact that gold has appreci- ated, for the appreciation of gold means simply that a given weight of it will buy more wheat, meat, cloth- ing, etc., than it would some time ago.


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