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Silver and Gold and Their Relation to the Problem of Resumption

Silver and Gold and Their Relation to the Problem of Resumption


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: CHAPTER III. THE ARGUMENTS FOB THE VARIOUS STANDARDS BRIEFLY STATED. The argument for the Gold Standard?Answer for Silver?Bi-metalUc Money, or Double Legal Tender?Answer for the Single Standard?Reply for Hi-metallic Money? Garnier's System, or Bi-metallic Money with variable ratio?Other suggestions. In the current discussions of the day the adoption of Silver as the single material for Standard Money is treated as out of the question, and the '-Battle of the Standards resolves itself into a contest of Gold-monometallism against the Double Legal Tender System. My object being to present in brief outline the argument as it stands, I shall omit consideration of the Single Silver Standard. THE GOLD STANDARD. Money is a Measure of Value, and there can be but one Standard Measure of Value, just as there is but one Standard Measure of Length, Weight, or Space. The superior value of Gold, compared with the same bulk or weight of Silver, gives to Gold an even more than corresponding advantage in fitness for use as money: 1. It is more portable, giving great values with a minimum of weight, and hence is best adapted for facilitating international exchanges, as well as to be carried on the person. 2. It costs less to coin Gold, and Gold is in general less destructible than Silver. Again, its intrinsic qualities and its history guarantee to Gold a permanence in value greater than that of Silver. This is shown by the fact that while the value of both metals has fallen greatly in the centuries that have elapsed since the discovery of America, yet Silver has fallen more than Gold. In Germany, for example, it was 1 to 10.50 in 1500; 1 to 16.25 in 1813. The superiority of Gold to Silver in its general use in the arts, secures to it a permanent demand which ...


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Product Details
  • ISBN-13: 9780217993906
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 78
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 0217993907
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 154 gr

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