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... than of coin; for as it can be melted without any loss of time, and with hardly
any expense, this would of course be done until the quantity in circulation was so
much diminished as to equalize its value with that of the same weight in bullion.
The labour and expense of coinage, when not charged to the possessor, do not
raise the value of the article. If Government opened an office where, on delivery
of a given weight of yarn, it returned the same weight of cloth to any one who ...
The value of money, then, conforms, permanently, and, in a state of freedom,
almost immediately, to the value of the metal of which it is made; with the addition
, or not, of the expenses of coinage, according as those expenses are borne by
hy its own cost the cost in labour and expense, at the least productive sources of
supply which the then existing demand makes it necessary to work. The average
value of gold is made to conform to its natural value in the same manner as the ...
... particular time, best suited the interest of debtors; and the standard of the
currency would be constantly liable to change from the one metal to the other, at
a loss, on each change, of the expense of coinage on the metal which fell out of
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LibraryThing ReviewРецензія користувача - JohnPhelan - LibraryThing
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