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The Sessional Papers Printed by Order of the House of Lords or Presented by Royal Command in the Session 1844

The Sessional Papers Printed by Order of the House of Lords or Presented by Royal Command in the Session 1844


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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. 1844 Excerpt: ... the other. The Exchange may therefore fluctuate, while the Price of Gold remains stationary. 39. Do you mean, therefore, that it is only because the Paper is not now convertible into Gold, and is therefore not regulated in its Issue by the Demand of the Persons wishing to exchange it into Gold, that the Price of Gold, as paid in that Paper, can rise above Mint Price? Yes. 40. Do you then mean by an Excess of Paper issued, not an Excess above what the Demand of internal Commerce may require, but an Excess above that Amount to which you think the Paper should be reduced, in order to bring the Market Price of Gold down to the Mint Price? I do not know any Criterion of the internal Demand for a Medium of Circulation, but that Amount which would have circulated, if the Currency had consisted of Coin only, or Coin and Paper convertible into Coin. 41. If the Balance of Payments being against us affects the Course of Exchange and the Price of Gold, can that be counteracted by any other Measure, than by a Reduction of the Issues of Bank Notes? It can only be counteracted by a Diminution of the Amount of Paper, or by an Export of Coin or Bullion. 42. Does then the Demand for Circulating Medium within the Country depend on the Balance of Payments between this Country and Foreign Countries? In as far as any Standard or Level of Currency is founded on a metallic Basis, the Amount of the Currency must depend in some degree, if not wholly, upon the Contraction or Enlargement of it in other Countries. And as to the Balance of Payments, it may be liquidated by a Modification of Credit, as well as by the Transmission of the precious Metals; so that a Balance of Debt from one Country to another, does not necessarily at any given Period suppose a Disturbance of the Currency t...


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Product Details
  • ISBN-13: 9781231345559
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 206
  • Spine Width: 11 mm
  • Width: 189 mm
  • ISBN-10: 1231345551
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 376 gr


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The Sessional Papers Printed by Order of the House of Lords or Presented by Royal Command in the Session 1844
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