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On the supposition of freedom, the metal cannot be worth more in the state of
bullion 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 ...
“In order to justify the supposition that a real bill (as it is called) represents actual
property, there ought to be Some power in the bill-holder to prevent the property
which the bill represents, from being turned to other purposes than that of paying
The supposition that real bills represent property, and that fictitious bills do not,
seems, therefore, to be one by which more than justice is done to one of these
species of bills, and something less than justice to the other. “We come next to
We just now made the imaginary supposition that all persons dealt with a bank,
and all with the same bank, payments being universally made by cheques. In this
ideal case, there would be no money anywhere except in the hands of the ...
On the first supposition, they were made by withdrawing deposits from bankers,
and thus cutting off a part of the streams which fed the loan market; on the
Becond supposition, they were made by actual drafts on the loan market, either
by the ...
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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