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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1837 edition. Excerpt: ... teach them to refrain from acts which would be highly injurious, and into which ignorance would be sure to plunge them. One of the prime advantages of knowledge is to save mankind from doing mischief. The inquiry then presents itself, how far is it practicable, by any expedients, to secure the advantages and avoid the evils which have been pointed out as arising from fluctuations in the quantity and value of money; and this inquiry may be divided into two separate questions: how far this can be done by the authority of the state, and how far it can be done by private prudence. Section I. On Expedients on the part of the Government of a Country for effecting these Objects. Our former investigations into the effects of an increase in the metallic money of a country, have shown that such an increase is attended with the advantage of stimulating production, or calling forth fresh exertions from industry. If we look more narrowly into the distribution of this advantage, we shall find that it is, in a great measure, an advantage accruing to particular classes of tlje community, and that part of it arises from a disadvantage inflicted on other classes. The advantage to one party, and the disadvantage to the other, are inseparably interwoven. Now, it cannot be for a moment maintained to be the legitimate object of any government to increase the prosperity of one portion of the community at the expense of another; or to effect it by the virtual transference of property from one man to his neighbour, without his knowledge or consent. Nothing is more certain, however, than that such a transference is the result of any change in the quantity of currency affecting its value. If, indeed, it were possible to make compensation to the losing party, or if...
  • ISBN13: 9781230267906
  • Publisher: Theclassics.Us
  • Pubilcation Year: 2013
  • Format: Paperback
  • Pages: 00044
Publication DateSeptember 12, 2013
Primary CategoryLiterary Collections/General
Sub Category 1History/General

Money and Its Vicissitudes in Value; As They Affect National Industry and Pecuniary Contracts: With a PostScript on Joint-Stock Banks

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