Inhaltsangabe
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. 1874 Excerpt: ... I.. By way of introduction, I have only to say that what may be found in these papers cannot be properly called my individual notions upon this intricate and important subject. It is merely an effort to apply what I have learned from books to what I practise daily in trade--the result of some years of study to the problems which are now confronting us as a people. I have called the essay familiar, because I have attempted to avoid theory and speculation, and to give simply the notions of a practical business man upon a practical business subject. In commencing, I would lay down the following propositions, which I shall attempt to establish as the basis of the whole argument: 1st.--That bullion--gold and silver--is the standard of value accepted by the civilized world 2nd.--That exchange is the giving of one article or of one value for another. 3rd--That such exchange must necessarily rest upon something of recognized universal value, which something is bullion. ith.--That all countries with foreign trade must accept such standard. 5th--That the laws which govern this exchange are, practically, as certain in their action as the laws of nature. 6th--That nations can no more violate these laws of exchange with impunity than individuals can violate those of nature. 1th.--That a curreney of inconvertible paper is the greatest possible evil which can be inflicted upon any country. These propositions are generally accepted by all sound thinkers; so much so, indeed, as to be considered axioms in political economy. There is nothing new in them, and the only difficulty in getting them generally accepted lies with those whose judgment and inclinations have been seduced by a long indulgence in the error of irredeemable currency. It is the old story--the difficulty of...
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