Money

Bibliographic data

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

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. General principles

Collection:: Economics Books

VALUE OF A LIMITED COIN 3 bility of the ratio between silver and gold varying again so as to make the metallic contents of the rupee equal to more than one-fifteenth of £1 was recognized, but was not regarded as an objection, inasmuch as one of the objects of the change was to keep the rupee higher than it otherwise would be. If it went higher than 15 to the f1 the new system would simply disappear because no longer necessary. There would be no melting down of the silver coinage, as there would in similar circumstances in England, because there would be no gold currency in the way to prevent the coined rinee rising in value along with silver. Some of the older economists and financiers of the time said the scheme could not possibly work, and were greatly pleased when their prophecies seemed to be justified wv the failure of the rupee to stand immediately at the intended rate. But this was only the natural consequence of insufficiency of demand : the demand was not at first big enough to make the mere stoppage of new coinage bring the value up to the ratio. Soon, however, demand increased, and gradually increased enough to overcome the counter- acting effect of some new supply in the shape of rupees which were outside India and now came back because they were worth more there than outside : the rupee rose in relation to gold so that merchants in India and England were cble to do business approxi- mately at the ratio of rupees to the £1, and the Indian Government ccu.. ~~ 7 anproximately £1 due from it with == —:.2s. 2:0 “tle difficulty was found in maintzising that ralio. The rupea crm va" came to be one-fifteenth of a pound ‘u- © 7. .cason as the English shilling is _... , ~. pouna -there was a sufficient demon. . ©... ::l too much supply. The difference wc “»<* "; Tp *ia there was no gold

Access restriction

Copyright

fullscreen: Money

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation