International Bimetallism And the Battle of the Standard
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To amass this unpre- cedented heap of gold at a time when that metal was really a rarity, a void had to be created in the rest of the world. 1 At the same time, owing to the wars of Independence, of Spanish American colonies, Peru and Mexico, the production of silver materially diminished. From 894, 150 kilogrammes annually during the decade 1801-1810, it sank to 460, 560 during the decade 1821-1830, and the production of gold from 17, 790 kilos, in 1781-1800 to 11, 445 in 1811-1820. The total ...value of the precious metals annually produced dropped from 265 million francs 1 In a " Memorandum " furnished to Parliament by the Bank directors in 1832 they give twenty millions as the aggregate amount which they were obliged to obtain from foreign countries, and, as they say, this great supply of gold " could only be purchased by re- duced prices of commodities. " Thus it is seen that the Bank of England in taking, in 1816-1820, out of the stock of gold of the civilized nations, 20, 000, 000, was in fact absorbing for England alone a sum equivalent to fifteen times the annual production of gold which was at the time, according to M.
What to read after International Bimetallism And the Battle of the Standard?
You can find similar books in the "Read Also" column, or choose other free books by Emile De Laveleye to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
To amass this unpre- cedented heap of gold at a time when that metal was really a rarity, a void had to be created in the rest of the world. 1 At the same time, owing to the wars of Independence, of Spanish American colonies, Peru and Mexico, the production of silver materially diminished. From 894, 150 kilogrammes annually during the decade 1801-1810, it sank to 460, 560 during the decade 1821-1830, and the production of gold from 17, 790 kilos, in 1781-1800 to 11, 445 in 1811-1820. The total ...value of the precious metals annually produced dropped from 265 million francs 1 In a " Memorandum " furnished to Parliament by the Bank directors in 1832 they give twenty millions as the aggregate amount which they were obliged to obtain from foreign countries, and, as they say, this great supply of gold " could only be purchased by re- duced prices of commodities. " Thus it is seen that the Bank of England in taking, in 1816-1820, out of the stock of gold of the civilized nations, 20, 000, 000, was in fact absorbing for England alone a sum equivalent to fifteen times the annual production of gold which was at the time, according to M.
What to read after International Bimetallism And the Battle of the Standard?
You can find similar books in the "Read Also" column, or choose other free books by Emile De Laveleye to read onlineMoreLess
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