Money

Paperback | October 12, 2012

byCharles Moran

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1863 edition. Excerpt: ...with the vigilance of self-interest, all the wants of the community, so as to produce, or purchase, the commodities most needed, and therefore most sought for, the proceeds of which will not only reimburse the advances of the banks, and. that portion of their own capital invested in the commodities, but also leave them a remuneration for their labor and intelligence. This machinery has been found to work beneficially for ajl the parties in interest, the banks, the commercial and industrial classes, and the public, as is fully proved by the results of the operations of the banks of Scotland and of the United States. country shall take the administration of a credit circulation into its own hands. I trust never to see it." (Fullarton on the Regulation of Currencies, pp. 67, 68.) It is constantly asserted that banks transform debts into money; that the same property, when sold on credit three times, becomes the basis of three different issues of bank notes or bank credits; thus transforming one amount of property into three times the same amount of purchasing power. The following analysis of commercial operations shows clearly that this theory is without foundation, being based on supposed facts that never occur; on an entire ignorance of the true philosophy of commerce and industry. " The same lot of goods might be sold to a dozen persons, and each might give a note, and each of these twelve notes might be discounted at bank. The inducement then would be to buy and sell goods that notes might be discounted at bank." (Gouge on Banking, p. 19.) A is a capitalist that holds commodities which he has either produced or purchased with his capital. He sells to B, of these commodities, to the extent of $5,000, payable in a note at six months from...

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1863 edition. Excerpt: ...with the vigilance of self-interest, all the wants of the community, so as to produce, or purchase, the commodi...

Format:PaperbackDimensions:66 pages, 9.69 × 7.44 × 0.14 inPublished:October 12, 2012Publisher:General Books LLCLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0217318398

ISBN - 13:9780217318396

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