Principles of Political Economy: With Some of Their Applications to Social ... - John Stuart Mill - Google книги

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§ 2. In what manner it assists production .

3. Function of credit in economizing the use of money

4. Bills of exchange .

5. Promissory notes.

6. Deposits and cheques

CHAPTER XII. Influence of Credit on Prices

1. The influence of bank notes, bills, and cheques, on price,

a part of the influence of Credit

2. Credit a purchasing power similar to money

3. Effects of great extensions and contractions of credit.

Phenomena of a commercial crisis analyzed

4. Bills a more powerful instrument for acting on prices

than book credits, and bank notes than bills

5. the distinction of little practical importance.

6. Cheques an instrument for acting on prices, equally

powerful with bank notes

8. No generic distinction between bank notes and other

forms of credit .

§ 1. The value of an inconvertible paper, depending on its

quantity, is a matter of arbitrary regulation

2. If regulated by the price of bullion, an inconvertible

currency might be safe, but not expedient.

3. Examination of the doctrine that an inconvertible cur-

rency is safe if representing actual property

4. Examination of the doctrine that an increase of the

currency promotes industry

5. Depreciation of currency a tax on the community, and

a fraud on creditors.

6. Examination of some pleas for committing this fraud

CHAPTER XIV. Of Excess of Supply

§ 1. Can there be an oversupply of commodities generally?. 556

2. The supply of commodities in general cannot exceed the

power of purchase

PAGE

§ 3. The supply of commodities in general never does exceed

the inclination to consume

4. Origin and explanation of the notion of general oversupply 560

X CHAPTER XV. Of a Measure of Value

§ 1. A measure of Exchange Value, in what sense possible

2. A measure of Cost of Production

CHAPTER XVI. Of some Peculiar Cases of Value

§ 1. Values of commodities which have a joint cost of pro-

2. Values of the different kinds of agricultural produce

CHAPTER XVII. Of International Trade

§ 1. Cost of production not the regulator of international

2. Interchange of commodities between distant places,

determined by differences not in their absolute, but in

their comparative cost of production

3. The direct benefits of commerce consist in increased

efficiency of the productive powers of the world

4. not in a vent for exports, nor in the gains of merchants

5. Indirect benefits of commerce, economical and moral;

still greater than the direct

CHAPTER XVIII. Of International Values

§ 1. The values of imported commodities depend on the terms

of international interchange

which depend on the Equation of International De-

3. Influence of cost of carriage on international values

4. The law of values which holds between two countries and

two commodities, holds of any greater number

5. Effect of improvements in production on international

6. The preceding theory not complete

§ 7. International values depend not solely on the quantities

demanded, but also on the means of production

available in each country for the supply of foreign

PAGE

8. The practical result little affected by this additional

9. The cost to a country of its imports, on what circum-

stances dependent

CHAPTER XIX. Of Money, considered as an Imported

§ 1. Money imported in two modes; as a commodity, and as

a medium of exchange.

2. As a commodity, it obeys the same laws of value as other

imported commodities.

3. Its value does not depend exclusively on its cost of

duction at the mines

CHAPTER XX. Of the Foreign Exchanges

§ 1. Purposes for which money passes from country to country

as a medium of exchange .

2. Mode of adjusting international payments through the

3. Distinction between variations in the exchanges which

are self-adjusting, and those which can only be rectified

CHAPTER XXI. Of the Distribution of the Precious Metals

through the Commercial World

§ 1. The substitution of money for barter makes no difference

in exports and imports, nor in the law of international

2. The preceding theorem further illustrated

3. 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

4. International payments of a non-commercial char-

CHAPTER XXII. Influence of the Currency on the Exchanges

and on Foreign Trade

§ 1. Variations in the exchange which originate in the currency

2. Effect of a sudden increase of a metallic currency, or of

the sudden creation of bank notes or other substitutes

3. Effect of the increase of an inconvertible paper cur-

rency. Real and nominal exchange

CHAPTER XXIII. Of the Rate of Interest

§ 1. The rate of interest depends on the demand and supply

2. Circumstances which determine the permanent demand

and supply of loans.

3. Circumstances which determine the fluctuations

4. The rate of interest, how far and in what sense connected

with the value of money

5. The rate of interest determines the price of land and of

CHAPTER XXIV. Of the Regulation of a Convertible Paper

§ 1. Two contrary theories respecting the influence of bank

2. Examination of each .

3. Reasons for thinking that the Currency Act of 1844 pro-

duces a part of the beneficial effect intended by it

but produces mischiefs more than equivalent .

5. Should the issue of bank notes be confined to a single

6. Should the holders of notes be protected in any peculiar

manner against failure of payment? .

CHAPTER XXV. Of the Competition of Different Countries in

the same Market

§ 1. Causes which enable one country to undersell another.

2. Low wages one of those causes

3. — when peculiar to certain branches of industry

4. but not when common to all

5. Some anomalous cases of trading communities examined

CHAPTER XXVI. Of Distribution, as affected by Exchange

§ 1. Exchange and Money make no difference in the law of

INFLUENCE OF THE PROGRESS OF SOCIETY ON

PRODUCTION AND DISTRIBUTION

CHAPTER I. General Characteristics of a Progressive State of

§ 1. Introductory remarks

2. Tendency of the progress of society towards increased
command over the powers of nature; increased secu-
rity; and increased capacity of co-operation

CHAPTER II. Influence of the Progress of Industry and

Population on Values and Prices

§ 1. Tendency to a decline of the value and cost of production
of all commodities

695

696

700

except the products of agriculture and mining, which

have a tendency to rise

3. that tendency from time to time counteracted by

improvements in production

4. Effect of the progress of society in moderating fluctua-

5. Examination of the influence of speculators, and in par-

ticular of corn dealers .

CHAPTER III. Influence of the Progress of Industry and

Population, on Rents, Profits, and Wages

§ 1. First case; population increasing, capital stationary
2. Second case; capital increasing, population stationary. 713

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