Paper Money, the Root of Evil. An Examination of the Currency of the United States, With Practical Suggestions for Restoring Specie Payments Without Robbing Debtors
The book Paper Money, the Root of Evil. An Examination of the Currency of the United States, With Practical Suggestions for Restoring Specie Payments Without Robbing Debtors was written by author Mann, Charles a Here you can read free online of Paper Money, the Root of Evil. An Examination of the Currency of the United States, With Practical Suggestions for Restoring Specie Payments Without Robbing Debtors book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is Paper Money, the Root of Evil. An Examination of the Currency of the United States, With Practical Suggestions for Restoring Specie Payments Without Robbing Debtors a good or bad book?
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" It thus appears, that a depreciation of the cur- rency does not affect the foreign trade of the country ; this is carried on precisely as if the currency main- tained its value." * The conclusion follows logically from the premise which is assumed. If the premium on gold were a correct measure of the depreciation of the currency, and rose " in the same proportion with other things," foreign trade would be carried on in the manner de- scribed. While paper would be used for internal com- merce,... coin would continue to be the only money used in transactions with other nations. The premium on gold would be added to the quotations for bills of exchange, and the increased prices at which the importers would sell tlleii- goods would be exactly equalled by the increased cost of bills of exchange ; or if the practice prevailed of dealing in exchange for coin only, as has happened in this country, the im- porter would pay for the coin with which to buy his * " Principles," etc., Book in., chap, xxii., sec.
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