An Open Letter to the Right Hon. David Lloyd-George, M. P., Chancellor of the Exchequer, On the Causes of Strikes And Bank Failures
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In our eReader you can find the full English version of the book. Read An Open Letter to the Right Hon. David Lloyd-George, M. P., Chancellor of the Exchequer, On the Causes of Strikes And Bank Failures 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 An Open Letter to the Right Hon. David Lloyd-George, M. P., Chancellor of the Exchequer, On the Causes of Strikes And Bank Failures
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In the one case the length of the chain limits the space the door can be opened, in the other, the opening is limited only by the width of the door. And gold is the chain limiting production and employment.
The Functions of Money But we are told by orthodox economists that money {i.e. legal tender) must be per se a " store of value," and since gold " contains great value in a small bulk," it fulfils this condition most eminently. The answer to this is that.
52 RECENT STRIKES AND BANK FAILURES a...ccording to their own definitions, money is an invention to overcome the difficulties attending barter, and they tell us that when money is taken in exchange, it is not for consumption, not for what the money is, but for what it will purchase. Men take it to spend, to pay away to others in exchange for the consumable things they need.
Hence its name " Currency," that which runs like a stream or current.
Now when we exchange goods for gold, even coined, we are simply bartering, and since the " stored value " in the coin is a kind of value we do not require, its use for money is as unnecessarily extravagant as that to which Sir Walter Raleigh and other gallants are said to have put their gold-braided cloaks — to keep a vain old woman's shoes dry.
What to read after An Open Letter to the Right Hon. David Lloyd-George, M. P., Chancellor of the Exchequer, On the Causes of Strikes And Bank Failures?
You can find similar books in the "Read Also" column, or choose other free books by Kitson Arthur to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
In the one case the length of the chain limits the space the door can be opened, in the other, the opening is limited only by the width of the door. And gold is the chain limiting production and employment.
The Functions of Money But we are told by orthodox economists that money {i.e. legal tender) must be per se a " store of value," and since gold " contains great value in a small bulk," it fulfils this condition most eminently. The answer to this is that.
52 RECENT STRIKES AND BANK FAILURES a...ccording to their own definitions, money is an invention to overcome the difficulties attending barter, and they tell us that when money is taken in exchange, it is not for consumption, not for what the money is, but for what it will purchase. Men take it to spend, to pay away to others in exchange for the consumable things they need.
Hence its name " Currency," that which runs like a stream or current.
Now when we exchange goods for gold, even coined, we are simply bartering, and since the " stored value " in the coin is a kind of value we do not require, its use for money is as unnecessarily extravagant as that to which Sir Walter Raleigh and other gallants are said to have put their gold-braided cloaks — to keep a vain old woman's shoes dry.
What to read after An Open Letter to the Right Hon. David Lloyd-George, M. P., Chancellor of the Exchequer, On the Causes of Strikes And Bank Failures?
You can find similar books in the "Read Also" column, or choose other free books by Kitson Arthur to read onlineMoreLess
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