Gold And Silver As Currency, in the Light of Experience, Historical, Economical, And Practical
Gold And Silver As Currency, in the Light of Experience, Historical, Economical, And Practical
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Increased cheapness in production and distribution has brought an over-supply, which has had its natural effect in the markets of the world. Coinci- dences are too frequently magnified into original causes, and time is required to dispel the illusion.
The fact therefore that the decline in wheat, cotton, corn, sugar, and silver, were contemporaneous events, is no more conclusive that the decline of one has caused the decline of the other, than is the large reduction of tonnage dues at the Suez ...canal, the cause of a decline in silver, while it is a direct cause for the decline of wheat in Chicago.
The causes for the general decline in prices are complex, world-wide, and various. It follows, therefore, if this be true, that neither the reduction of gold to a parity with sil- ver, nor the uplifting of silver to a parity with gold by inter- national law, will necessarily advance the price of American wheat and cotton.
Digitized by VjOOQ IC APPENDIX Digitized by VjOOQ IC 56 TABLE I.
Commercial Ratio of Silver to Gold each Year since 1687, [Note.— Prom 1687 to 1832 the ratios are taken from Dr.
What to read after Gold And Silver As Currency, in the Light of Experience, Historical, Economical, And Practical?
You can find similar books in the "Read Also" column, or choose other free books by James Goodwin Batterson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Increased cheapness in production and distribution has brought an over-supply, which has had its natural effect in the markets of the world. Coinci- dences are too frequently magnified into original causes, and time is required to dispel the illusion.
The fact therefore that the decline in wheat, cotton, corn, sugar, and silver, were contemporaneous events, is no more conclusive that the decline of one has caused the decline of the other, than is the large reduction of tonnage dues at the Suez ...canal, the cause of a decline in silver, while it is a direct cause for the decline of wheat in Chicago.
The causes for the general decline in prices are complex, world-wide, and various. It follows, therefore, if this be true, that neither the reduction of gold to a parity with sil- ver, nor the uplifting of silver to a parity with gold by inter- national law, will necessarily advance the price of American wheat and cotton.
Digitized by VjOOQ IC APPENDIX Digitized by VjOOQ IC 56 TABLE I.
Commercial Ratio of Silver to Gold each Year since 1687, [Note.— Prom 1687 to 1832 the ratios are taken from Dr.
What to read after Gold And Silver As Currency, in the Light of Experience, Historical, Economical, And Practical?
You can find similar books in the "Read Also" column, or choose other free books by James Goodwin Batterson to read onlineMoreLess
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