A Proposal for a System of International Money: A Paper Read Before the Economic Section of the British Association at Ipswich, 13th September 1895 (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from A Proposal for a System of International Money: A Paper Read Before the Economic Section of the British Association at Ipswich, 13th September 1895

Under the then existing and ill-understood bi metallic system, however, this practice of leaving the mint open to the individual brought with it disaster. A trade in coins or money was carried on under it, the cheaper coins being used to buy up the dearer, the dearer being then exported and exchanged for the cheaper abroad With the profit of the difference made, and the cheaper then re imported, sent to the mint, coined into the money of the realm, and again brought to bear on the dearer; and so on in an endless vicious circle.

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