Some Chapters On Money Printed for the Use of Students in the University of Mic
Some Chapters On Money Printed for the Use of Students in the University of Mic
F M Fred Manville Taylor
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Accordingly, it is entirely out of the question that dealers in America or England should look on a fall in the rate of exchange on China as indicating a rise in the value of gold, and, therefore, as something which calls for a read- justment of American or English prices to a lower level. It seems pretty conclusively established from the above argument that, in the present condition of things when gold is the standard of all great commercial nations, there is substantially no chance for changi...ng the value of monev, in a country having the gold standard, by the readjustment process. Doubtless there have taken place changes in the value of money due to causes which would naturally tend to change the value of gold, the metal. But these and all other changes must have been effected by some proces. S other than the one according to which the value of the ultimate standard is first changed, and then the value of 196 CHAPTERS ON MONEY money consciously adjusted to it. We must now try to ascertain what is this other process.
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