The Bimetallic Controversy. a Collection of Pamphlets, Papers, Speeches And Letters
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In our eReader you can find the full English version of the book. Read The Bimetallic Controversy. a Collection of Pamphlets, Papers, Speeches And Letters 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 Bimetallic Controversy. a Collection of Pamphlets, Papers, Speeches And Letters
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Ricardo suggested, " that a person should receive gold for any notes he might bring " in. We know if there were any redundancy in the currency " that the process would go on until the redundancy ceased ; but " it would go no further, and then we should be possessed of a " currency, not so showy, not so expensive, but for all practical " purposes just as good, as the currency of England and the silver " currency of India." This crude proposition, at first believed to have been hastily advanced i...n the heat of debate, was afterwards enlarged upon in an article in the Fortnightly of July, 1879, under the title of "A Simple Way out of the Indian " Difficulty." It included a cessation of general coinage of silver in India, and the issue of notes convertible into gold.
The objections to it were, — 1. That to procure the gold to pay the redundant notes would create so large a demand for that metal as would increase the divergence between the value of it and that of silver.
2. That the enormous amount of silver rupees in India would be crowded into the treasuries to exchange for the new notes convertible into gold.
What to read after The Bimetallic Controversy. a Collection of Pamphlets, Papers, Speeches And Letters?
You can find similar books in the "Read Also" column, or choose other free books by Henry Hucks Gibbs to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Ricardo suggested, " that a person should receive gold for any notes he might bring " in. We know if there were any redundancy in the currency " that the process would go on until the redundancy ceased ; but " it would go no further, and then we should be possessed of a " currency, not so showy, not so expensive, but for all practical " purposes just as good, as the currency of England and the silver " currency of India." This crude proposition, at first believed to have been hastily advanced i...n the heat of debate, was afterwards enlarged upon in an article in the Fortnightly of July, 1879, under the title of "A Simple Way out of the Indian " Difficulty." It included a cessation of general coinage of silver in India, and the issue of notes convertible into gold.
The objections to it were, — 1. That to procure the gold to pay the redundant notes would create so large a demand for that metal as would increase the divergence between the value of it and that of silver.
2. That the enormous amount of silver rupees in India would be crowded into the treasuries to exchange for the new notes convertible into gold.
What to read after The Bimetallic Controversy. a Collection of Pamphlets, Papers, Speeches And Letters?
You can find similar books in the "Read Also" column, or choose other free books by Henry Hucks Gibbs to read onlineMoreLess
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