Valuation, depreciation and the rate base

Bibliographic data

Monograph

Identifikator:: 174667931X

URN:: urn:nbn:de:zbw-retromon-119897

Document type:: Monograph

Author:: Grunsky, Carl Ewald http://d-nb.info/gnd/10180959X

Title:: Valuation, depreciation and the rate base

Edition:: 2. ed., revised and extended

Place of publication:: New York

Publisher:: Wiley

Year of publication:: 1927

Scope:: X, 500 Seiten

Digitisation:: 2021

Collection:: Economics Books

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XIV. The standard of value

Collection:: Economics Books

282 VALUATION, DEPRECIATION AND THE RATE-BASE of the tax levy should, in this case, be acceptable as a sufficiently close approximation of its money equivalent throughout the ensuing year. In such event the salary permanently fixed in coms would be convertible throughout each year into money at the equivalent sum thus determined. Similar provision could be made, too, when rents and the like are to be covered in annual budgets. Public utility rates might be established as at present, but with the proviso that at intervals of a year these rates would auto- matically increase or decrease in some relation to the change in the value of money as measured by the com. It may be noted that under such a system of evaluating rela- tive desirability of things and services, each country would proceed independently. The commodity unit could be adapted to the local standard of living. The commodities which taken collec- tively will best represent value, in the sense of desire to possess, would, in each country, be selected with a view to their inclu- sion in quantities bearing a fair relation to their proportional contribution to the requirements of the family and the indi- vidual. As already stated, money as a medium of exchange, when the commodity unit comes into general use, will be as necessary as heretofore. The commodity unit will take a place on the list of the many things subject to price quotation. Would it not be possible, may be asked, to let the com supplant the dollar, there- by accomplishing what Prof. Irving Fisher would bring about — the stabilization of the dollar? This would involve, as Professor Fisher points out, the acceptance of a variable weight of gold as the money unit. Legislation would be required and complicated government control, the successful accomplishment of which does not appear to be within easy reach. Nor, as already pointed out, is it necessary. Alongside of a commodity unit, whether legally recognized, or not, money would be used as it is used, today, and would always be specified in transactions which are unaffected by the time element. But money would no longer function as the standard of value to determine the amount of a

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