Money

Bibliographic data

Monograph

Identifikator:: 1819853969

URN:: urn:nbn:de:zbw-retromon-207464

Document type:: Monograph

Author:: Cannan, Edwin http://d-nb.info/gnd/118666916

Title:: Money

Edition:: 6. ed.

Place of publication:: [London]

Publisher:: King

Year of publication:: 1929

Scope:: XII, 120 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. General principles

Collection:: Economics Books

VALUE OF GOLD TI estimated in ordinary times to take somewhere in the neighbourhood of a half of the annual product of the metal. We must always remember that the demand tends to increase as people become richer and more numerous, that it tends to decrease as security grows and the habit of keeping hidden hoards decays, and that it varies with industrial discovery, as for example, the invention of gold plates in dentistry, which increased the demand, and the invention of vulcanite plates, which diminished ii. Further we must note that for many industrial uses the demand is extra- ordinarily elastic, since if gold were cheaper its use would be extended enormously—if it were cheap enough an enormous number of poor people who now have no gold ornaments would have some, and if it were cheaper =" ** would be largely used for roofing houses. The demand for gold for purposes of currency is more difficult to deal with, owing to our being accus- tomed to think of demanding other things in exchange for currency rather than of demanding currency in exchange for other things, and also, perhaps, owing to our habit of taking examples of demand in con- nexion with commcdities quickly consumed, like wheat, rather than commodities which only perish slowly, like houses. If we can shake ourselves loose from the effect of these habits, we shall soon find the subject less anomalous than it is often supposed to be. The amount of metallic money in existence at any one moment of time is the sum of the amounts in the possession of individuals and institutions at that moment. It cannot grow larger without an increase either in the number of individuals and institutions who have holdings or an increase in the average magnitude of the sing’ - holding Other things being equal, therefore, an increase in the numbers of persons and institutions «ith separate holdings will

Access restriction

Copyright

fullscreen: Money

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation