The Great Power: Its Origin, Use, And Influence; a Brief Explanation of the ...

Cover The Great Power: Its Origin, Use, And Influence; a Brief Explanation of the ...
The Great Power: Its Origin, Use, And Influence; a Brief Explanation of the ...
Montagu De Pomeroy Webb
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14 15 3 1874 . 58A ...
IO 14 7 1889 . 4*tt ».
14 11 7 1875 . 561 ...
IO 15 7 1890 . 47» .- 13 3 4 1876 . 52i ...
II 3 7 1891 . 45* - 14 I — 1877 . 54tt - II 2 6 1892 . 39l* ••• 15 13 9 1878 . 52ft ...
II 4 7 1893 . 35i •• l6 2 — 1879 . 51* •- 12 5 1 1894 . 281f ...
17 15 9 1880 . 52* -.
12 1 4 1895 . 29J ...
18 3 2 1881 . 5«H - 12 3 2 1896 . 30J ...
l6 14 2 Average Price Average Price Digitized by Google THE GREAT POWER. 95 We have already had occasion to note that the value of gold and silver
...at the present day is but very remotely connected with cost of production ; that it depends mainly on the purchasing powers of gold and silver money ; further, that the strength of the purchasing power of money fluctuates in accordance with variations in the supply of, and demand for, metallic money. It follows, therefore, that the values of gold and silver are now mainly in- fluenced by the supply of and demand for metallic money: and that the recent diver- gence in the relative values of the precious metals must consequently arise from some cause, affecting (a) the supply of metallic money, (b) the demand for metallic money, or (c) a combination of both causes.

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