Remarks Upon Some Prevalent Errors: With Respect to Currency and Banking (Classic Reprint) - Softcover

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Excerpt from Remarks Upon Some Prevalent Errors: With Respect to Currency and Banking

The process above described requires from its great practical importance to be maturely consi dered, and the following inference that directly flows from it should be firmly fixed in the reader's mind. NO change in the value of a currency, either purely metallic, or of convertible paper, arising merely from a change in its amount, and leaving the standard unaltered, can take place in any given country without ultimately affecting, in an almost equal degree, the currencies of all other countries. The value Of this principle will be 'seen particularly hereafter, when we have to criticise certain prevailing opinions.

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