The Disturbance in the Standard of Value
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The two precious metals conjointly, as we have seen, have been doing their beneficent work as the world's basis of value since the earliest dawn of civilisation, and the sanctions of this long usage have created a system which individual nations cannot contravene, or even modify, without entailing widespread disaster. Each has contributed by its own national laws to form that system, and the very power to work mischief by individual interference reveals the important part that the mone- tary la...ws of the nations continually perform in the working of this great international institution. Nature has provided the precious metals, and human law, in adopting and recognising them as the standard of value, gives them efficacy and power for the great functions which they perform.
CHAP. I.
Neglect of the Science of Money. 33 As we have said, it seems a very simple thing that the nations have done in selecting gold and silver and coining them, yet it is this all-important thing that gives them their power as money; and as civilisation advanced and commercial intercourse was developed, it seemed an equally simple and necessary thing that the relative power of each of them should be defined and recognised.
What to read after The Disturbance in the Standard of Value?
You can find similar books in the "Read Also" column, or choose other free books by Barclay, Robert, 1648-1690 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The two precious metals conjointly, as we have seen, have been doing their beneficent work as the world's basis of value since the earliest dawn of civilisation, and the sanctions of this long usage have created a system which individual nations cannot contravene, or even modify, without entailing widespread disaster. Each has contributed by its own national laws to form that system, and the very power to work mischief by individual interference reveals the important part that the mone- tary la...ws of the nations continually perform in the working of this great international institution. Nature has provided the precious metals, and human law, in adopting and recognising them as the standard of value, gives them efficacy and power for the great functions which they perform.
CHAP. I.
Neglect of the Science of Money. 33 As we have said, it seems a very simple thing that the nations have done in selecting gold and silver and coining them, yet it is this all-important thing that gives them their power as money; and as civilisation advanced and commercial intercourse was developed, it seemed an equally simple and necessary thing that the relative power of each of them should be defined and recognised.
What to read after The Disturbance in the Standard of Value?
You can find similar books in the "Read Also" column, or choose other free books by Barclay, Robert, 1648-1690 to read onlineMoreLess
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