Money And Bimetallism: a Study of the Uses And Operations of Money And Credit; With a Critical Analysis of the Theories of Bimetallism, And a Study of Symmetallism, And of the Tabular Standard of Value
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In our eReader you can find the full English version of the book. Read Money And Bimetallism: a Study of the Uses And Operations of Money And Credit; With a Critical Analysis of the Theories of Bimetallism, And a Study of Symmetallism, And of the Tabular Standard of Value 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 Money And Bimetallism: a Study of the Uses And Operations of Money And Credit; With a Critical Analysis of the Theories of Bimetallism, And a Study of Symmetallism, And of the Tabular Standard of Value
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iii., part 2, chap, ix., says: " Under Henry VI. the coin had lost one third of its weight in silver, which caused a proportional increase of money prices." To which he adds the following note : " I have sometimes been surprised at the facility with which prices adjusted themselves to the quantity of silver contained in the current coin, in ages which appear too ignorant and too little commercial for the application of this mercantile principle. But the extensive dealings of the Jewish and Lomb...ard usurers, who had many debtors in almost all parts of the country, would of itself introduce a knowledge, that silver, not its stamp, was the measure of value. I have mentioned in another place the heavy discontents excited by this debasement of the coin in France. . . . Wykes, an annalist of Edward I.'s age, tells us, that the Jews clipped our coin, till it retained hardly half its due weight, the effect of which was a general enhancement of prices, and decline of foreign trade." Macaulay, in his famous twenty-first chapter, 176 NATURE, USES, AND VALUE OF MONEY which has been quoted so often, but which is so truthful and so forceful that it will bear any number of repetitions with profit to the reader, speaking of the time of the reign of King William the Third and the great recoinage of 1696, says: " The silver coin, which was then the standard coin of the realm, was in a state at which the boldest and most enlightened statesmen stood aghast.
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To quickly assess the difficulty of the text, read a short excerpt:
iii., part 2, chap, ix., says: " Under Henry VI. the coin had lost one third of its weight in silver, which caused a proportional increase of money prices." To which he adds the following note : " I have sometimes been surprised at the facility with which prices adjusted themselves to the quantity of silver contained in the current coin, in ages which appear too ignorant and too little commercial for the application of this mercantile principle. But the extensive dealings of the Jewish and Lomb...ard usurers, who had many debtors in almost all parts of the country, would of itself introduce a knowledge, that silver, not its stamp, was the measure of value. I have mentioned in another place the heavy discontents excited by this debasement of the coin in France. . . . Wykes, an annalist of Edward I.'s age, tells us, that the Jews clipped our coin, till it retained hardly half its due weight, the effect of which was a general enhancement of prices, and decline of foreign trade." Macaulay, in his famous twenty-first chapter, 176 NATURE, USES, AND VALUE OF MONEY which has been quoted so often, but which is so truthful and so forceful that it will bear any number of repetitions with profit to the reader, speaking of the time of the reign of King William the Third and the great recoinage of 1696, says: " The silver coin, which was then the standard coin of the realm, was in a state at which the boldest and most enlightened statesmen stood aghast.
What to read after Money And Bimetallism: a Study of the Uses And Operations of Money And Credit; With a Critical Analysis of the Theories of Bimetallism, And a Study of Symmetallism, And of the Tabular Standard of Value?
You can find similar books in the "Read Also" column, or choose other free books by Henry a Miller to read onlineMoreLess
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