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OF

POLITICAL ECONOMY

WITU

SOME OF THEIR APPLICATIONS TO SOCIAL PHILOSOPHY,

BY

JOHN STUART MILL.

IN TWO VOLUMES.

VOL. II.

TROM THE FIFTH LONDON EDITION

NEW YORK:
D. APPLETON AND COMPANY,
1, 3, AND 5 BOND STREET.

1884,

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בית הספרים הלאומי והאוניברסיטאי ירושלים

Ex Libris

Dr. and Mrs.
ISRAEL GOLDSTEIN

Jerusalem

JEWISH NATIONAL AND UNIVERSITY LIBRARY

JERUSALEM

CONTENTS

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CHAPTER VIII. Of the Value of Money, as dependent on

Demand and Supply.

§ 1. Value of Money, an ambiguous expression, . . . .

2. The Value of Money depends, cæteris paribus, on its quantity,
3. — together with the rapidity of circulation,
4. Explanations and limitations of this principle, . . .

value of the bullion contained in it, . . . . . . 37

2. — which is determined by the cost of production, . .

3. This law, how related to the principle laid down in the pre-

ceding chapter, . . . . . . . . . 42

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