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Depreciation of currency a tax on the community, and a fraud on creditors, . - e e .
99 6. Examination of some pleas for committing this fraud, . . . 100 CHAPTER XIV.
Of Eccess of Supply. £ $*1. Can there be an oversupply of commodities ...
... they would slacken their works; if the depreciation was great, some of the
inferior mines would perhaps stop working altogether: and a falling off in the
annual supply, preventing the annual wear and tear from being completely
The particular kind of variation to which a currency is rendered more liable by
having two legal standards, is a fall of value, or what is commonly called a
depreciation; since practically that one of the two metals will always be the
To have prevented their depreciation, the proper course, it is affirmed, would
have been to have made a valuation of all the confiscated property at its metallic
value, and to have issued assignats up to, but not beyond, that limit; giving to the
... a desirable possession, except to be converted into money, people would
submit to a much greater depreciation before demanding land, than they will
before demanding gold or that on increase of the currency quickens industry.
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Pragmatic or muddled? Mill sets out to explore economic principles but, ultimately, finds that there is no principle which doesn't have any amount of conceivable exceptions. You have to wonder why its ... Читати огляд повністю