The Science of Exchanges
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In our eReader you can find the full English version of the book. Read The Science of Exchanges 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 Science of Exchanges
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of a country, and any given increment be made to that currency, then if the increased operations which that increment of currency gives rise to, are in the same proportion to it, as the operations previously carried on were to the previously exist- ing currency, the value of the whole currency will not be altered, that it seems incredible that it should be required to enunciate it, and moreover that it should be fatal to the leading hanking prin^ ciple of the day^ The value of the whole currenc...y under such circumstances might not perhaps be altered if estimated in any commodity but standard gold, but the paper part of the currency when brought to this touchstone coidd not maintajn a precisely equal value with that exact amount of standard gold which it purported to represent for this simple reason, that when gold became wanting for exportation there would be more paper notes in circulation than could by any possibility be converted into their equivalent in gold, and promises to pay being then easier obtained than actual payments in gold, the paper currency would be depreciated, however much it was needed by the operations of trade.
What to read after The Science of Exchanges?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, N. A. (Nathaniel Alexander), 1827-1874 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
of a country, and any given increment be made to that currency, then if the increased operations which that increment of currency gives rise to, are in the same proportion to it, as the operations previously carried on were to the previously exist- ing currency, the value of the whole currency will not be altered, that it seems incredible that it should be required to enunciate it, and moreover that it should be fatal to the leading hanking prin^ ciple of the day^ The value of the whole currenc...y under such circumstances might not perhaps be altered if estimated in any commodity but standard gold, but the paper part of the currency when brought to this touchstone coidd not maintajn a precisely equal value with that exact amount of standard gold which it purported to represent for this simple reason, that when gold became wanting for exportation there would be more paper notes in circulation than could by any possibility be converted into their equivalent in gold, and promises to pay being then easier obtained than actual payments in gold, the paper currency would be depreciated, however much it was needed by the operations of trade.
What to read after The Science of Exchanges?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, N. A. (Nathaniel Alexander), 1827-1874 to read onlineMoreLess
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