Nomisma Or Legal Tender
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Cannot France and the United States, provided the latter resumes specie payments, sustain the bi- metallic system without the aid of England and Ger- many, or of either ? A. I have no doubt of it. You have seen France maintaining for a century the ratio of fifteen and a half between the value of the two metals, in every part of the world. Since 1871, cer- tainly, the circumstance that Germany has renounced her ancient silver mono-metalism is disfavorable to bi- metalism. The accession, the fran...k and courageous accession, of the United States to the bi-metallic sys- tem will more than compensate for that disadvantage.
Q. Would not France and the United States in that event have a better monetary system for the people than is that of England or that of Germany? A. Yes; a monetary system based on two metals is more safe than it is when based on only a single metal. England has suffered many monetary crises, simply because she had only one metal in circulation.
By the CHAIRMAN : Q. Would the fluctuation in the value of services and commodities be as great under the bi-metallic system, provided one or two great nations adopted such system at the same relation of value between gold and silver, as it would be under the mono-metallic system, even though a variation did occasionally occur in the values of the two metals and the temporarily cheaper one were used for the purposes of payment ?
What to read after Nomisma Or Legal Tender?
You can find similar books in the "Read Also" column, or choose other free books by Henri Cernuschi to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Cannot France and the United States, provided the latter resumes specie payments, sustain the bi- metallic system without the aid of England and Ger- many, or of either ? A. I have no doubt of it. You have seen France maintaining for a century the ratio of fifteen and a half between the value of the two metals, in every part of the world. Since 1871, cer- tainly, the circumstance that Germany has renounced her ancient silver mono-metalism is disfavorable to bi- metalism. The accession, the fran...k and courageous accession, of the United States to the bi-metallic sys- tem will more than compensate for that disadvantage.
Q. Would not France and the United States in that event have a better monetary system for the people than is that of England or that of Germany? A. Yes; a monetary system based on two metals is more safe than it is when based on only a single metal. England has suffered many monetary crises, simply because she had only one metal in circulation.
By the CHAIRMAN : Q. Would the fluctuation in the value of services and commodities be as great under the bi-metallic system, provided one or two great nations adopted such system at the same relation of value between gold and silver, as it would be under the mono-metallic system, even though a variation did occasionally occur in the values of the two metals and the temporarily cheaper one were used for the purposes of payment ?
What to read after Nomisma Or Legal Tender?
You can find similar books in the "Read Also" column, or choose other free books by Henri Cernuschi to read onlineMoreLess
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