The Errors And Fallacies Of Bimetallism

Author : J. B. Howe
Publisher : Forgotten Books
ISBN 13 : 9781334498602
Total Pages : 212 pages
Book Rating : 4.4/5 (986 download)

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Download or read book Mono-Metalism and Bi-Metalism written by J. B. Howe and published by Forgotten Books. This book was released on 2016-12-03 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Mono-Metalism and Bi-Metalism: Or, the Science of Monetary Values The following essay upon mono-metalism and Bi Metalism is based upon the theory that no money, not even gold or silver, has, or by any possibility can have, so far as it is money, any commodity or mercantile value whatever. Gold and silver, money aside, are commod ities beyond doubt or question, and if they were not money, their value would be exclusively of a commodity or mercantile kind. If gold were the only metallic money, Silver being by supposition entirely out of use for that purpose, gold would cease entirely to be a com modity, its commodity value being entirely merged in its money value but silver being metallic money also, it is impossible for gold and Silver to be mutually money to each other, nor can either be, exclusively, money to the other. Hence, inasmuch as neither can be ex clusively money to the other, and inasmuch as they are exchanged for each other daily in the bullion mar kets of the world, that exchange must be a barter of Silver for gold, and gold for Silver: neither can be bought with the other unless both are at the same time bought, and neither can be sold for the other, unless both are at the same time sold: it is purely a barter ex change. It differs nevertheless from ordinary barter, in the fact that it is regulated strictly by the exact mathe matical law of weights of respective masses only, with out regard to intrinsic qualities of the masses bartered, as in ordinhry barter. If intrinsic qualities exclusive of weight, which consumers look to as much as they do to weight, were taken into consideration at all in bullion exchange, gold and silver would never cease to be comvi preface. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.