Répertoire des administrateurs & commissaires de société, des banques, banquiers et agents de change de France et de Belgique

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Monograph

Identifikator:: 1751319059

URN:: urn:nbn:de:zbw-retromon-129553

Document type:: Monograph

Title:: Répertoire des administrateurs & commissaires de société, des banques, banquiers et agents de change de France et de Belgique

Place of publication:: Paris [u.a.]

Year of publication:: [1926]

Scope:: 1316 S.

Digitisation:: 2021

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Répertoire des administrateurs, commissaires, liquidateurs, curateurs, etc., de sociétés

Collection:: Economics Books

36 MONEY siderable confusion: transport may be interrupted by warlike operations so that the price at which gold may be bought from abroad is difficult to ascertain, and the issuers may have taken the precaution of forbidding free transactions in bullion at home. But soon this does not matter, because, as the issue goes on, the rise in the price of bullion becomes too great to be denied. 3. Sometimes it is contended that a rise in the price of bullion is due not to a depreciation of the money but to an appreciation of bullion. This covers two different contentions between which confusion is frequent : (2) It may mean simply that bullion is higher in value relatively to commodities in general, while money has preserved its old relation to them. As the issue gets larger and larger, this too has to fade into the limbo of discarded arguments. But supposing it were true, it would only be by accidental coinci- dence, unless the issue of notes was managed with the distinct aim of securing a currency which would always keep the same level of value and preserve a complete stability of general prices. Regulation with this end in view is quite conceivable, and has often been advocated by high authority. It must be noticed, however, that those who put forward this defence of an actual issue are often persons who would be the loudest in their protests against the desirability of the adoption of any scheme for such regulation. (b) The other meaning of the contention that it is not money which has depreciated but bullion which has appreciated, is that the gap between the value of bullion and that of the unit of account and also the general rise of prices are to be ascribed to something that has happened to bullion and ordinary com- modities, and not to what has happened to money, and therefore the unit of account has not fallen in value

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