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CHAPTER VII. Of Money. PAGE 2§ 1. Purposes of a Circulating Medium, - e e e .
17 2. Gold and Silver, why fitted for those purposes, . - . 19 3. Money a mere
contrivance for facilitating exchanges, which does not affect the laws of Value, . -
e - .
The use of the two metals as money, how obtained without making both of them
legal tender, . • - - . ... Of Credit, as a Substitute for Money. ... The value of an
inconvertible paper, depending on its quantity, is a matter of arbitrary regulation, .
• - .
The law of values which holds between two countries, and two commodities,
holds of any greater number, . . 145 5. Effect of improvements in ... Money
imported in two modes; as a commodity, and as a medium of exchange, - - - - - - .
The precious metals, as money, are of the same value, and distribute themselves
according to the same law, with the precious metals as a commodity, . - - e . 189 4
. International payments of a non-commercial character, . 191 ChapTER XXII.
OF MONEY. § 1. HAVING proceeded thus far in ascertaining the general laws of
Value, without introducing the idea of Money (except occasionally for illustration),
it is time that we should now superadd that idea, and consider in what manner ...
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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