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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Document type:: Monograph

Structure type:: Chapter

Title:: Part I. General principles

Collection:: Economics Books

VALUE OF A LIMITED COIN 33 First, what would have happened if at some period the demand had fallen off, and that faster than the coin is consumed by abrasion and loss? Suppose a plague which carried off half the population, or an ingenious improvement which led to the substitution of some system of making small payments without the use of coin. In that case some persons or institu- tions, probably the banks, would have found them- selves in possession of inconvenient amounts of silver and bronze coins more than they could pay out without annoying the persons with whom they did business. The probability is that they would insist on the Mint taking back some of the coins at the ratio at which thev vere issued, but if the Government obdurately refuc.c, 1c the falling off in demand was large and er: >!’ ‘5 continue, the coins would go to a discoun! .¢ “or .h~ sake of exchanging them for more convzni.© 17=~ neople would be willing to submit “a ~~m heir nominal value, and they would ~~ the more convenient gold coin - ~omething below the official ratic Secondly, suppose excessive supply. In order to placate some school of currency “heorists, or in order simply to make more profit, Government is not content with issuing silver hronze coins when they are asked for hv persons rc “y to pay the price, but proceeds t~ Hut nwch larger ~+rntities out by the device of ord~“+ Govern~ -~ wages and postal money-order~ : “~ ~*d entirely in silver. The same rec '*s wi" off of deme: : somew.1er¢ the Mii. discount. coinage v f~llow as in case of a falling “20 ~~ ° ailver coin CL .. ~d to TW, sh to a Ta. . dlicit he se .o effects - _ are Sh. . ~ TLE Conn

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