The Question Concerning the Depreciation of Our Currency Stated And Examined 11
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In our eReader you can find the full English version of the book. Read The Question Concerning the Depreciation of Our Currency Stated And Examined 11 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 Question Concerning the Depreciation of Our Currency Stated And Examined 11
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is a substitute in circulation for five shillings of our silver coin, worth upon an average about 3*. — Any man, there- fore, who exchanges five of these shillings for a dollar, gains about sixty per cent. — The profit on the purchase of silver bullion would be somewhat greater; but the dollar is preferred, because it is in the way of the shillings which would otherwise in a great degree soon cease to be current in circulation.
This is no imaginary case, but a practice which, more or less, is g...oing on every day. — So long as our silver currency shall be suffered to continue in its present state, the industry and in- genuity of individuals, however restrained by law, will not be wanting to keep up and supply its circulation, Tliis debased currency will drive away any other which, under the same denomination, possesses a much greater intrinsick value, just as our paper drives away the gold.
which ( 94 ) which have now gone abroad, either in bars, or in coin, (the latter to be melted abroad,) would have found their way, as bars, to the cellars of the Bank.
What to read after The Question Concerning the Depreciation of Our Currency Stated And Examined 11?
You can find similar books in the "Read Also" column, or choose other free books by W William Huskisson to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
is a substitute in circulation for five shillings of our silver coin, worth upon an average about 3*. — Any man, there- fore, who exchanges five of these shillings for a dollar, gains about sixty per cent. — The profit on the purchase of silver bullion would be somewhat greater; but the dollar is preferred, because it is in the way of the shillings which would otherwise in a great degree soon cease to be current in circulation.
This is no imaginary case, but a practice which, more or less, is g...oing on every day. — So long as our silver currency shall be suffered to continue in its present state, the industry and in- genuity of individuals, however restrained by law, will not be wanting to keep up and supply its circulation, Tliis debased currency will drive away any other which, under the same denomination, possesses a much greater intrinsick value, just as our paper drives away the gold.
which ( 94 ) which have now gone abroad, either in bars, or in coin, (the latter to be melted abroad,) would have found their way, as bars, to the cellars of the Bank.
What to read after The Question Concerning the Depreciation of Our Currency Stated And Examined 11?
You can find similar books in the "Read Also" column, or choose other free books by W William Huskisson to read onlineMoreLess
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