The principles of currency, 6 lects. With a letter [in Fr. and Engl.] from M. Chevalier on the history of the treaty of commerce with France1869 |
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The Principles of Currency, 6 Lects. with a Letter [In Fr. and Engl.] from M ... Bonamy Price Попередній перегляд недоступний - 2016 |
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Achille Fould actual Adam Smith amongst amount Australia Bank of England Bank of France banker barter borrowers bought bullion buyer buying and selling called capital cause cheques and bills circulation City articles coin and banknotes commodities Conseil d'État convertibility corn Corps Législatif cotton debts deficiency demand diminished economist effect England note equal export of gold fact give Government guarantee hand importance inconvertible increase instruments of exchange issue notes labour lend loans Lord Palmerston matter means ment mercantile theory merchants metallic currency MICHEL CHEVALIER money market nation nature never obtain paid paper money payment Political Economy possesses practical procure produced purchase quantity question rate of discount rency reserve Richard Cobden Rouher seller shillings Sir John Lubbock sold sovereigns supply tailor thing traité de commerce transactions truth wealth worth writers
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Сторінка 28 - ... happens that the universal belief of one age of mankind — a belief from which no one was, nor without an extraordinary effort of genius and courage, could at that time be free — becomes to a subsequent age so palpable an absurdity, that the only difficulty then is to imagine how such a thing can ever have appeared credible. It has so happened with the doctrine that money is synonymous with wealth. The conceit seems too preposterous to be thought of as a serious opinion.
Сторінка 160 - As the whole of the goods in the market compose the demand for money, so the whole of the money constitutes the demand for goods. The money and the goods are seeking each other for the purpose of being exchanged. They are reciprocally supply and demand to one another. It is indifferent whether, in characterizing the phenomena, we speak of the demand and supply of goods, or the supply and the demand of money. They are equivalent expressions.
Сторінка 168 - I apprehend that bank notes, bills, or cheques, as such, do not act on prices at all. What does act on prices is Credit, in whatever shape given, and whether it gives rise to any transferable instruments capable of passing into circulation, or not.
Сторінка 110 - Every doctrine which is mistaken on this central principle is worthless as an interpreter of the science of currency. Mr. Tooke discerned the true answer : Mr. Mill, with some little wavering, and a few others, have seen the light ; but the general literature on money matters throughout the world profoundly ignores the fact. The answer is the same with that which has already been given to the parallel question respecting sovereigns. So many bank-notes as the public wants and can use will circulate,...
Сторінка 28 - It often happens that the universal belief of one age of mankind — a belief from which no one was, nor without an extraordinary effort of genius and courage, could at that time be free — becomes to a subsequent age so palpable an absurdity, that the only difficulty then is to imagine how such a thing can ever have appeared credible.
Сторінка 2 - They have at all times propounded and acted on doctrines of the most elaborate kind. The more directly engaged in business was the speaker, the more complicated, the more artificial, the more mysterious, have been the rules he laid down for the attainment of wealth. Monopolies were proclaimed to be the infallible means for creating good and trustworthy quality in manufacture. . . . Then, again, when the discovery of the New World enlarged geography with colonies of a novel kind, the practical man...
Сторінка 166 - It must be evident, however, that the mere introduction of a particular mode of exchanging things for one another, by first exchanging a thing for money, and then exchanging the money for something else, makes no difference in the essential character of transactions.
Сторінка 160 - It is to be remarked that this ratio would be precisely that in which the quantity of money had been increased. If the whole money in circulation was doubled, prices would be doubled. If it was only increased one-fourth, prices would rise one-fourth.
Сторінка 23 - ... are convinced, and then, under some indescribable impulse, rebel against the light. And what is this impulse? How is a phenomenon apparently so discreditable to the human understanding to be explained? How comes Political Economy to have been born under so unlucky a star as to be doomed to teach and persuade, only to be repudiated? The explanation is to be found in the ceaseless action of selfishness, in the never-dying force of class and personal interests, in the steady and constant effort...
Сторінка 1 - ... no laborious employment can be extensively carried on without the existence of some notions as to the right way of working, and the most fitting methods for attaining the end desired. It is a mistake, though a very common one, to suppose that practical men, as they are called, are destitute of theory. The exact reverse of this statement is true. Practical men swarm with theories ; none more so.