The New Golden Age And Influence of the Precious Metals Upon the World volume 2
The New Golden Age And Influence of the Precious Metals Upon the World volume 2
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In our eReader you can find the full English version of the book. Read The New Golden Age And Influence of the Precious Metals Upon the World volume 2 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 New Golden Age And Influence of the Precious Metals Upon the World volume 2
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Accordingly, when Great Britain 'doffing her war-panoply of paper-money, and arraying herself in a golden robe ever-fluctuating in its dimensions with the variations of the gold-supply became for the first time ex- posed to the brunt of the world -wide dearth of specie, in 1819, especially since, by the decree of Parliament, she had restricted her legal currency to gold, and thereby rendered unavailable for her use the silver which then constituted nearly three- fourths of the world's stock of ...money, the dearth broke in upon her like a destroying flood, and smote with paralysis the magnificent fabric of her commerce and industry. What heightens the marvel is, that this establishment, by Act of Parliament, of a cur- rency restricted to gold was adopted at the very time when the produce of the gold - mines had sunk to its lowest point, the total production of gold in the year 1816, according to Soetbeer, being duced prices of commodities in Great Britain. ' Thus it is seen that the Bank of England in taking, in 1816-20, out of the stock of gold of the civilised nations, 20, 000, 000, was in fact absorbing for England alone a sum equivalent to fifteen times the annual production of gold which was at the time, according to M.
What to read after The New Golden Age And Influence of the Precious Metals Upon the World volume 2?
You can find similar books in the "Read Also" column, or choose other free books by R H Robert Hogarth Patterson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Accordingly, when Great Britain 'doffing her war-panoply of paper-money, and arraying herself in a golden robe ever-fluctuating in its dimensions with the variations of the gold-supply became for the first time ex- posed to the brunt of the world -wide dearth of specie, in 1819, especially since, by the decree of Parliament, she had restricted her legal currency to gold, and thereby rendered unavailable for her use the silver which then constituted nearly three- fourths of the world's stock of ...money, the dearth broke in upon her like a destroying flood, and smote with paralysis the magnificent fabric of her commerce and industry. What heightens the marvel is, that this establishment, by Act of Parliament, of a cur- rency restricted to gold was adopted at the very time when the produce of the gold - mines had sunk to its lowest point, the total production of gold in the year 1816, according to Soetbeer, being duced prices of commodities in Great Britain. ' Thus it is seen that the Bank of England in taking, in 1816-20, out of the stock of gold of the civilised nations, 20, 000, 000, was in fact absorbing for England alone a sum equivalent to fifteen times the annual production of gold which was at the time, according to M.
What to read after The New Golden Age And Influence of the Precious Metals Upon the World volume 2?
You can find similar books in the "Read Also" column, or choose other free books by R H Robert Hogarth Patterson to read onlineMoreLess
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