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A Handbook on Currency and Wealth; With Numerous Tables and Diagrams

A Handbook on Currency and Wealth; With Numerous Tables and Diagrams


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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. 1896 Excerpt: ...metals in the world stood at 32 ounces of silver to every ounce of gold. During the 100 years from 1701 to 1800 the commercial ratio had ranged from 14.14 to 1 in 1760, to 15.74 to 1 in 1799, the average commercial ratio for the century being 14.97 of silver to 1 of gold. This was a very surprising result. From all the analogies of the preceding 200 years the commercial ratio of silver should have continued to advance rapidly under the great relative production of that metal. As a matter of fact the average commercial ratio for the whole century was the same as that prevailing for the 20 years just before the century opened. From 1801 to 1848 the average commercial ratio was 15.69 of silver to 1 of gold, going above 16 to 1 for the first time in 1808, and to 16.25 in 1813, during our war with England, but quickly dropping to 15.04 to 1 in 1814. The average production of silver during the period from 1801 to 1848 was 29 ounces of silver to 1 ounce of gold, and the world's stock of these metals, coined and uncoined, in 1848, stood at 311 ounces of silver to 1 of gold. To sum up the facts so far: The production of silver for the whole period from 1493 to 1818 was 32 ounces to every ounce of gold produced, raising the commercial ratio to 15 to 1 in 1700 and to 15.69 to 1 in 1848. For nearly 150 years from 1700 to 1848, the greatest variation in the commercial ratio was from 14.14 to 16.25 to 1. Period of Cold Influx, 1848 to 1873. We come now to another marked cbange in the relative production of these metals. Gold after 1848 increased so rapidly in production that by 1854 only a little over four ounces of silver were being produced to one ounce of gold. In the whole period from 1848 to 1878 there were less than seven ounces of silver produced to one ounce of g...


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Product Details
  • ISBN-13: 9781130227178
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 46
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 1130227170
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 100 gr


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