The Bank Charter Act Ought the Bank of England Or the People of England to Rece
The Bank Charter Act Ought the Bank of England Or the People of England to Rece
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In our eReader you can find the full English version of the book. Read The Bank Charter Act Ought the Bank of England Or the People of England to Rece 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 The Bank Charter Act Ought the Bank of England Or the People of England to Rece
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— Foreigners who come into our market never treat our coin as money, but as a commodity, though it sustains both characters among ourselves; and these must ever be in antagonism, so long as we make a distinction between the mint price and the market price of bullion. — The impress of the Queen's head or of the ligure of Britannia on the sovereign adds nothing to its intrinsic value, the whole of which it derives simply and solely from the quantity of labour it condenses. The ornamental devices ...and the mint mark merely certify the weight and purity of the coin, thus render- ing unnecessary the trouble of weigliing and assaying the metal Avhen it passes from debtor to creditor. The conventional character of coined gold, therefore, in no respect supersedes or changes the native cliaracter of bullion ; it still remains a commodity, merchantable by its own inherent qualities. If tlie London Goldsmiths' Company were empowered to fabricate sovereigns they could discharge the duty as eftectually and as satis- factorily both to ourselves and foreigners as the mint; and their mark would be as authentic a certificate of the weight and fineness of the coin as the mint mark.
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To quickly assess the difficulty of the text, read a short excerpt:
— Foreigners who come into our market never treat our coin as money, but as a commodity, though it sustains both characters among ourselves; and these must ever be in antagonism, so long as we make a distinction between the mint price and the market price of bullion. — The impress of the Queen's head or of the ligure of Britannia on the sovereign adds nothing to its intrinsic value, the whole of which it derives simply and solely from the quantity of labour it condenses. The ornamental devices ...and the mint mark merely certify the weight and purity of the coin, thus render- ing unnecessary the trouble of weigliing and assaying the metal Avhen it passes from debtor to creditor. The conventional character of coined gold, therefore, in no respect supersedes or changes the native cliaracter of bullion ; it still remains a commodity, merchantable by its own inherent qualities. If tlie London Goldsmiths' Company were empowered to fabricate sovereigns they could discharge the duty as eftectually and as satis- factorily both to ourselves and foreigners as the mint; and their mark would be as authentic a certificate of the weight and fineness of the coin as the mint mark.
What to read after The Bank Charter Act Ought the Bank of England Or the People of England to Rece?
You can find similar books in the "Read Also" column, or choose other free books by Jonathan Duncan to read onlineMoreLess
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