The Elements of Political Economy

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Longman, Brown, Green, Longmans, and Roberts, 1858 - 573 стор.
 

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Description of this privilege of exclusive banking
21
Further advantages of a Metallic Currency
25
Extracts from Sir Archibald Alisons History regarding
27
The Socialists have endeavoured to abolish Political Economy 14
31
Fifth exampleThe American banking convulsions of 18379 437
33
Bad state of the coinage in 1760
34
SECTION
35
SECTION
40
Demonstration of the fallacy of this theory on the principles
41
The Foreign Exchanges
42
Objections to these views answered
44
SECTION
46
Dealing between nations made up of the aggregate of deal
48
Application of this Conversation
53
T
54
The term Value in Political Economy is to be restricted to
59
Example of this quoted from Mr Laing
60
Examples of positive and negative values
65
State of facts agreed upon
74
Mr Horners resolutions
80
7
81
CHAPTER I
82
124
89
THEORY OF PRICES PRELIMINARY CONSIDERATIONS
95
Capital and Credit constitute the Circulating Medium
96
Application of this law of Price will be considered in
101
Illustration of the nature of Bills of Exchange
102
Meaning of EXCHANGEABLE VALUE
104
10
107
An article receives either of these names according to
108
The value in money of an article is termed its Price
114
Further fallacies of Ricardo
118
Injustice in present
120
36
125
Every general formula must bear on the face of it all the ele
126
50
133
Different fares of London and provincial cabs
144
72
149
The obligations interchanged at the Clearing House form
150
74
151
Meaning of DEBT
156
He rejects the idea of estimating value by the exchangeable
159
Wages of labor also an erroneous measure
165
He admits that this law is not applicable in all cases
173
8
191
Exaggerated importance given to the Ricardo Theory of Rent
194
26
202
45
217
57
225
Example of a very low rate of interest in France in 1812
235
74
237
Preliminary Remarks
241
Use of a Bank
251
Progress of goods in business
252
Error regarding commercial Bills
253
Bank may advance to several persons engaged in some operation
254
Every indorsement of a Bill is a fresh drawing
255
Risks of discounting
257
Meaning of Bankers contracting their issues
258
Impossible to ascertain the effect of a contraction of issues on prices
259
What currency
260
Failure of Credit causes a demand for money
261
The quantities of Currency in different countries vary very
263
Exemplification of this
271
50
272
5
278
Mismanagement of the Bank in 1818
285
Use of a currency
286
30
291
A bank mania to be carefully guarded against
297
Duty of a banker to contract his liabilities in times of danger
309
8
315
Error of prevalent ideas on the continent regarding credit
324
Mr Woods opinion
332
The exchanges restored by the recoinage
350
First coinage of gold
353
An alteration in the Mint price of gold
361
39
364
The same continued
367
Different effects that may be produced by introducing
372
Errors on this subject
381
If prices of goods are too high bullion must be sent
388
People are divided into producers and consumers of each
397
Introduction of an inconvertible paper currency
398
112
406
The essence of Lawism is that money represents commodities
422
Bullion as the representative of debt is the only proper basis
450
Meaning of CAPITAL and CREDIT
451
55
456
First conception of Capital and Interest
458
2
467
Interest
476
Sudden rise of the market price of gold in 1801
487
Act to suspend payments
493
Mr Boyd Lord King and Mr Thornton first discovered this
496
Great mercantile speculations in 1809
512
Adoption by the mercantile world of the principles of
516
84
523
Great importance of the question
535
Speech of Mr Peel on introducing the Act of 1819
537
The Value of Money varies inversely as Price and directly
540
Phenomena of the momey market explained by the foregoing principles 263
551
Distinction between banking principles and currency principles
564
61
568

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Сторінка 198 - value of corn is regulated by the quantity of labour bestowed on its production on that quality of land, or with that portion of capital, which pays no rent. Corn is not high because a rent is paid, but a rent is paid because corn is high...
Сторінка 118 - The exchangeable value of all commodities, whether they be manufactured, or the produce of the mines, or the produce of land, is always regulated, not by the less quantity of labour that will suffice for their production under circumstances highly favourable, and exclusively enjoyed by those who have peculiar facilities of production; but by the greater quantity of labour necessarily bestowed on their production by those who have no such facilities; by those who continue...
Сторінка 212 - The five following are the principal circumstances which, so far as I have been able to observe, make up for a small pecuniary gain in some employments, and counterbalance a great one in others...
Сторінка 194 - Rent is that portion of the produce of the earth which is paid to the landlord for the use of the original and indestructible powers of the soil. It is often, however, confounded with the interest and profit of capital, and, in popular language, the term is applied to whatever is annually paid by a farmer to his landlord.
Сторінка 214 - The probability that any particular person shall ever be qualified for the employment to which he is educated is very different in different occupations. In the greater part of mechanic trades, success is almost certain; but very uncertain in the liberal professions. Put your son apprentice to a shoemaker, there is little doubt of his learning to make a pair of shoes; but send him to study the law, it is at least twenty to one if ever he makes such proficiency as will enable him to live by the business.
Сторінка 209 - The market price of labour is the price which is really paid for it, from the natural operation of the proportion of the supply to the demand; labour is dear when it is scarce and cheap when it is plentiful. However much the market price of labour may deviate from its natural price, it has, like commodities, a tendency to conform to it.
Сторінка 443 - ... hands are safe, the operation is so far, and in this, its first step, useful and productive to the public. But as soon as the portion of circulating medium in which the advance was thus made, performs in the hands of him to whom it was advanced, this, its first operation as capital — as soon as the notes are exchanged by him for some other article which is capital, they fall into the channel of circulation, as so much circulating medium, and form an addition to the mass of currency.
Сторінка 132 - Gold and silver, like all other commodities, are valuable only in proportion to the quantity of labour necessary to produce them and bring them to market. Gold is about fifteen times dearer than silver, not because there is a greater demand for it, nor because the supply of silver is fifteen times greater than that of gold, but solely because fifteen times the quantity of labour is necessary...
Сторінка 214 - The counsellor at la.w who, perhaps, at near forty years of age, begins to make something by his profession, ought to receive the retribution, not only of his own so tedious and expensive education, but of that of more than twenty others who are never likely to make any thing by it. How extravagant soever the fees of counsellors at law may sometimes appear, their real retribution is never equal to this.

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