Money

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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

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. General principles

Collection:: Economics Books

VALUE OF GOLD [3 he wants the services of the bus or tram on the way home. Before the introduction of paper currencies and methods of setting one payment against another provided by such machinery as bills of exchange and banks, the magnitude of the want for these stocks of coin must have depended largely on the amounts of money which the holder had to spend in the year and on the length of the periods for which payments such as rent and wages were made. A rich landlord with a large rent roll would be likely to have a bigger amount of coin in his possession at any time than the landlord with a small rent-roll. The richer man would receive £500 each quarter day, and gradually use that sum up till the next quarter came round: the poorer would do the same with the £100 he received at the quarter, and so would always have only about one-fifth as much in hand as the other. The farmer who paid “25 a quarter would be likely to have much less coin in hand for some time before quarter day than a neighbour who paid £100. So, too, any manufacturer who had large sums to pay in wages at fortnightly intervals would have to hold for at least a considerable part of the fortnight more coin than his neighbour who had only a small wages bill to provide for. And supposing ‘a custom came in of paying rents only twice a year instead of four times, both the landlord and the farmer would have to keep more coin by them on the average: and if weekly wages became the custom in place of fort- nightly, both employers and workmen would have to keep less by “* = (he average, as their stocks would be rep! ~~ fequently. Further, if mor - ) that more must be pa. ~-wedl I iarm or the wages of an r3er stocks of coin would be

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