This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1834 Excerpt: ...employed as the medium of their exchange,
enterprise of every kind will be repressed, and misery and distress
universally prevail. When this shall be effected, the relations of
society, founded upon a new basis, will be equitable and just, and
tend to promote and secure the general prosperity. Such, it is
contended by the Advocates of a paper currency, are the
circumstances under which the principal States of Europe are
endeavouring to return to a metallic currency. For a Century past,
the currency of these States has been greatly increased by the
employment of paper, founded, it is true, originally upon a
metallic basis. During the last 20 years, this paper has ceased to
be convertible into specie; and, as no systematic effort has been
made to prevent excessive issues, it has become redundant, and,
consequently, depreciated. Notwithstanding this depreciation, the
production of those Countries, it is believed, have more rapidly
increased, than those of Countries where a metallic currency has
been preserved. The first efforts that are seriously made by those
States to return to a metallic currency, will be the repression of
enterprise of every description among themselves. It will be
foreseen that the currency must appreciate, and that all other
articles must depreciate in value. The effects of this appreciation
of money will be first manifested in those States, by the fall of
the price of all articles which cannot be exported. In the progress
of these measures, the price of the exportable articles will also
be affected, by the reduction in the currency employed in effecting
their exchange. It is even probable that the quantity of
exchangeable articles will be diminished. Whilst the appreciation
of the currency is perceptibly advancing, the Manufacturer will...
|Country of origin:
Great Britain Foreign and Office
||246 x 189 x 25mm (L x W x T)
||Paperback - Trade
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