Political Economy
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In our eReader you can find the full English version of the book. Read Political Economy 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 Political Economy
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Whatever excellencies may have been reflectively discovered in such money after it had come into circulation, I am not aware that the institution of such money has been due, in an individual instance, to any other virtual reason than that which has been expressed.
We saw that the sovereign first pinched the coin, say, one per cent., under the name of seigniorage, to meet the cost of coinage, and then, finding the opportunity too tempting, took out it might be five, it might be fifteen per cent...., or even more, for his own benefit. The issue of paper money, is in effect, the exaction of a seigniorage of one hundred per cent.
At times, that exaction has been made in cold blood, at the dictate of avarice ; at times, and indeed, more often, the exaction has appeared to be justified, if not sanctified* by some great exigency of national life.
man and financier of wide experience, declares that if the amount of inconvertible paper be properly regulated, " there is no reason whatever why such notes should suffer depreciation." M.
What to read after Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Walker, Francis Amasa, 1840-1897 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Whatever excellencies may have been reflectively discovered in such money after it had come into circulation, I am not aware that the institution of such money has been due, in an individual instance, to any other virtual reason than that which has been expressed.
We saw that the sovereign first pinched the coin, say, one per cent., under the name of seigniorage, to meet the cost of coinage, and then, finding the opportunity too tempting, took out it might be five, it might be fifteen per cent...., or even more, for his own benefit. The issue of paper money, is in effect, the exaction of a seigniorage of one hundred per cent.
At times, that exaction has been made in cold blood, at the dictate of avarice ; at times, and indeed, more often, the exaction has appeared to be justified, if not sanctified* by some great exigency of national life.
man and financier of wide experience, declares that if the amount of inconvertible paper be properly regulated, " there is no reason whatever why such notes should suffer depreciation." M.
What to read after Political Economy?
You can find similar books in the "Read Also" column, or choose other free books by Walker, Francis Amasa, 1840-1897 to read onlineMoreLess
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