INDEX

321

Market for capital, go-gz.
organisation, 36, 39.
price of gold, 232.
protected, 249.
s» steady, and protection, 264.
Marriages and prosperity, 130.
Marshall, Professor Alfred, 107, III.
Material and immaterial goods, 3.
Maximum economy, 61.
Medium of exchange, general, 161-175.

Metallic money, 162, 163, 170, 174,
175.
Metayer rents, 1X5.
Methods of economic study, 12.
Military hoards, 178.
Minimum-wage policy, 141.
Mining rents, 105, 108.
Mint par of exchange, 230.
Mint price of gold, 196.
Mobility of capital, 86.
% labour, 126-128.
Money and capital, 87.
»s prices, 160-174.
definition of, 174.
functions of, 165.
,, international, 175.
Monopoly, 44, 50, 69-72, 135, 271, 272,
310, 311.
and increasing returns, 55.
and wages, 135.
- taxation of, 292, 3II.
Moral effect of proprietorship, 148.
Mortgages, 7.

Original and indestructible powers of
the soil, 107.
¢ Other things being equal,” 14, 169.
Over-supply of labour, 126.
Ownership, cultivating, 116.

PAPER currency, 182-194.
and exchange - rates,

233.
Par of exchange, 229-231, 233.
Parasitic industries, 137, 138.
Payment in foreign trade, mode of,
225, 226.
Peasant-proprietorship, 115, 116.
Peel’s Bank Act, 190.
Personal wealth, 7.
Pensions, 221, 224.
Piece-wages, 144.
Political effects of land ownership,
117.
Poor-relief, 276, 286.
Population, principle of, 15.
Postulates of economic arguments, 135,
16.
Premium on exchange, 227.
» a» gold, 233, 240.
s»» plan of wage payment, 146.
Present and future needs, 83, 84.
Price and rent, 100-112.
5, utility, 28, 52.
,» of public services, 271.
Price-level and exchange rate, 240.
,»  nDote-issues, 189.
“ ,»  seigniorage, 197.
# raised by import duties,
253.
Prices and demand for money, 168.
,» » money-supply, 169-174.
,, retail, 75, 242.
Prime costs, 59, 204.
Private loans, 93.
sso. public interests, 256.
Product and income, 140.
Production not for sale, 117.
Productive work, 7.
Productivity of capital, 88,
7 its source, 89.
marginal, of capital, 283.
’, ,s  oflabour,120,121
Profit-sharing, 147, 148.
Profits, 151, 156.
,» hecessary, 57.
,, of government enterprises, 272,
,, taxation of, 284, 285.
Progressive taxation, 277.
2 wages, 145.
Promissory notes, 175.
Proportional reserve, 188.
taxation, 275.

NASCENT industries, protection to, 258
National bank currency of U.S., 188
189, 193.
debts, 292.
strength and national wealth,
262.
Natural resources, protection of, 260,
Necessaries, 9, 129, 274, 277.
Necessary profits, 57.
Net product of labour, 119-124.
Non-competitive groups, 38.
No-profits entrepreneur, 154.
No-rent land, 113.
Normal price, 51.
» supply, 5L.
,, value, 64.
Note-issues, England and Wales, 190.

ORGANISATION of credit, 166-168, 171-173.

exchange, 160-162.
market, 36, 39.
,, forcapital,91
social, 13.

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