Gibbs, H: International Bimetallism and the Gresham Law

Anglický jazyk

Gibbs, H: International Bimetallism and the Gresham Law

Vydavateľstvo: Forgotten Books
Formát: Paperback
Jazyk: Anglický jazyk
ISBN: 9781332403783

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O knihe

Excerpt from International Bimetallism and the Gresham Law: With Two Letters on Silver and Mr. Goshen's Currency Proposals

A French silver franc contains 15 times more weight than the French gold franc. The United States silver dollar contains sixteen times as much silver as the United States dollar contains gold. There are three courses Open with reference to the world's two monetary intermediaries, and measures of value, gold and silver: (1) TO abolish them (ii.) TO let each metal find its value in proportion to the contents Of its value-giving factors; (iii) to get a temporary universal enforcement, by legislative enact ments, that both gold and silver shall be received in unlimited quantities by all mints and be made unlimited legal tender at fixed relation Of weight between the two metals. Bimetallism is unnatural, unscientific, and unworkable if the following propositions are true (1) that gold and silver are different substances; (2) that no two different substances can be exchanged for any length of time upon parallel lines Of quantities or values, neither can they be produced for any length Of time upon parallel lines Of cost.

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