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§ 1. The value of an inconvertible paper, depending on its quan-

tity, is a matter of arbitrary regulation, . • - . 88

2. If regulated by the price of bullion, an inconvertible cur-

rency might be safe, but not expedient, . - - 91

3. Examination of the doctrine that an inconvertible currency

is safe if representing actual property, . • o . 93

CHAPTER XV. Of a Measure of Value.

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§ 1. The substitution of money for barter makes no difference in

exports and imports, nor in the law of international

values, . - - e - - - - e . 181

2. The preceding theorem further illustrated, . - e . 185

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§ 1. Two contrary theories respecting the influence of bank

issues, e e e - - e - e - . 215 %

2. Examination of each, . - e e - - - . 218

3. Reasons for thinking that the Currency Act of 1844 pro-

duces a part of the beneficial effect intended by it, . . 222

4. — but produces mischiefs more than equivalent, . - . 228

5. Should the issue of bank notes be confined to a single estab-

lishment? . - 242

6. Should the holders of notes be protected in any peculiar

manner against failure of payment?. - - - . 245

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