Money and Its Laws: Embracing a History of Monetary Theories, and a History of the Currencies of the United States |
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Page xi
... 89 • 89 The Mississippi scheme . 89 69 DAVID HUME . " Essays , Moral , Political and Literary , ” 1752 . • • Value no necessary attribute of money · . 68 89 89 Money a thing of no importance Its value imaginary . TABLE OF CONTENTS . xi.
... 89 • 89 The Mississippi scheme . 89 69 DAVID HUME . " Essays , Moral , Political and Literary , ” 1752 . • • Value no necessary attribute of money · . 68 89 89 Money a thing of no importance Its value imaginary . TABLE OF CONTENTS . xi.
Page xii
... thing of no importance Its value imaginary . . An imaginary value no value · • Hume's plan for debasing the currency His untrustworthiness shown by it . Prices reduced by reducing the amount of the currency Prices increased by reducing ...
... thing of no importance Its value imaginary . . An imaginary value no value · • Hume's plan for debasing the currency His untrustworthiness shown by it . Prices reduced by reducing the amount of the currency Prices increased by reducing ...
Page xiii
... things that can set indus- try in motion . 126 • Money neither of these 126 • Wages do not consist of money 126 Money ... thing to set industry in motion . 127 All kinds of capital necessary to the operations of society equally valuable ...
... things that can set indus- try in motion . 126 • Money neither of these 126 • Wages do not consist of money 126 Money ... thing to set industry in motion . 127 All kinds of capital necessary to the operations of society equally valuable ...
Page xxiv
... things are purchased 330 • 830 No one's income derived from the precious metals . 330 The farmer converts his products into ... thing , intrinsically , in the economy of society than money 331 " It is a machine for doing quickly and ...
... things are purchased 330 • 830 No one's income derived from the precious metals . 330 The farmer converts his products into ... thing , intrinsically , in the economy of society than money 331 " It is a machine for doing quickly and ...
Page 5
... thing deserving the name of wealth is based , and without which only the rudest fabrics can be produced . Divi- sion ... things , made payable in the precious metals . For the same reason , all contracts arising from such sales , or for ...
... thing deserving the name of wealth is based , and without which only the rudest fabrics can be produced . Divi- sion ... things , made payable in the precious metals . For the same reason , all contracts arising from such sales , or for ...
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Common terms and phrases
accommodation bills Adam Smith amount of coin Aristotle assumed Bank of England bank-notes bankers barter bills given bills of exchange borrowers bullion capital circulation Committee commodities consequently consumers consumption contraction convertible corresponding amount cost country Banks debt demand deposits depreciated discharge discount distribution Economists effect equal excess exchange exports foreign gold and silver greater hand holders Hume inconvertible increase industry instrument of commerce issuers kind labor latter laws less liabilities loans Lord Overstone loss means ment merchandise merchant methods nature necessary never notes and credits operations paid paper currency paper money parties payable payment Political Economy possessed precious metals principle produce profit proper purchase quantity ratio reason received reduced rency represent reserves says securities sell Smith specie supply supposed symbolic currency theory thing tion trade transactions usury value of money Wealth of Nations whole wholly
Popular passages
Page 477 - That the government created by this compact was not made the exclusive or final judge of the extent of the powers delegated to itself; since that would have made its discretion, and not the Constitution, the measure of its powers; but that as in all other cases of compact among parties having no common Judge, each party has an equal right to judge for itself, as well of infractions as of the mode and measure of redress.
Page 509 - Each public officer who takes an oath to support the Constitution swears that he will support it as he understands it, and not as it is understood by others.
Page 11 - And Abraham hearkened unto Ephron; and Abraham weighed to Ephron the silver, which he had named in the audience of the sons of Heth, four hundred shekels of silver, current money with the merchant.
Page 469 - That every power vested in a government is in its nature sovereign, and includes, by force of the term, a right to employ all the means requisite and fairly applicable to the attainment of the ends of such power, and which are not precluded by restrictions and exceptions specified in the Constitution, or not immoral, or not contrary to the essential ends of political society.
Page 492 - Waiving the question of the constitutional authority of the Legislature to establish an incorporated bank as being precluded in my judgment by repeated recognitions under varied circumstances of the validity of such an institution in acts of the legislative, executive, and judicial branches of the Government, accompanied by indications, in different modes, of a concurrence of the general will of the nation...
Page 466 - I do not conceive we can exist long as a nation without having lodged somewhere a power, which will pervade the whole Union in as energetic a manner as the authority of the State governments extends over the several States.
Page 2 - And a river went out of Eden to water the garden, and from thence it was parted and became into four heads.
Page 466 - If you tell the legislatures, they have violated the treaty of peace, and invaded the prerogatives of the confederacy, they will laugh in your face.
Page 476 - Resolved, that the several States composing the United States of America, are not united on the principle of unlimited submission to their general government; but that by compact under the style and title of a Constitution for the United States...
Page 277 - The history of what we are in the habit of calling the " state of trade " is an instructive lesson. We find it subject to various conditions which are periodically returning ; it revolves apparently in an established cycle. First we find it in a state of quiescence, — next improvement, — growing confidence, — prosperity, — excitement, — overtrading, — convulsion, — pressure, — stagnation, — distress, — ending again in quiescence.