Almanach d'adresses de la Chambre de Commerce, d'Industrie et de Métier `a Zagreb

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Monograph

Identifikator:: 1028804180

URN:: urn:nbn:de:zbw-retromon-48229

Document type:: Monograph

Author:: Lepsius, Bernhard http://d-nb.info/gnd/11694563X

Title:: Deutschlands chemische Industrie

Place of publication:: Berlin

Publisher:: Georg Stilke

Year of publication:: 1914

Scope:: 1 Online-Ressource (107 Seiten)

Digitisation:: 2018

Collection:: Economics Books

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

VALUE OF GOLD 17 less goods of some sort or other. If I give £5 for the gold in a dental plate and a gold watch and chain, Just in the same way I must give up some commodities or services for the £5, so that I am really exchanging these for the plate and watch and chain.! So even more obviously of any large aggregate of persons. If the people of India individually or the Government of India decide that thev will keen a larger stock of gold or silver, they must oht-iy wy giving goods or services in exchange for <* -~- have been doing for centuries. If this is not found sufficiently convincing let us think of the converse case, in which a person sells his gold ornaments or reduces his stock of coin. Does he not then increase the demand for commodities other than gold as compared with the demand for gold ? During a coal shortage I sold some gold orna- ments, and immediately expended the money pro- ceeds in the purchase of wood for fuel. Must not this have tended to make the demand for gold less and the demand for wood greater than if I had continued to keep the ornaments in a drawer and gone without a fire? So, too, if I had arranged by good management to reduce my stock of coin by £1, could I not have spent that £1 on something that I wanted, and would nc his have tended to diminish the value of gold and increase the demand for the thing that I bought and therefore for things other than gold? To buy gold with gold would be as futile as to buy wheat with wheat ; whenever we get gold by giving something else for it we tend to increase the demand for it, and consem=rily to increase its value: whenever we give - * =; something else * I have thought it best not to encumber the text with the suggestion that I may get the coin simply by reducing my balance at the bank. "If I do this it means simply that I drive a harder bargain with the bank and the banker instead of me has to sacrifice somethino

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