Die Theorie des Geldes

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Monograph

Identifikator:: 82999274X

URN:: urn:nbn:de:zbw-retromon-86719

Document type:: Monograph

Author:: Hildebrand, Richard http://d-nb.info/gnd/116803169

Title:: Die Theorie des Geldes

Place of publication:: Jena

Publisher:: Fischer

Year of publication:: 1883

Scope:: 1 Online-Ressource (V, 146 S.)

Collection:: Economics Books

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96 Capitel IV. Auf diese Weise erklärt es sich ja auch, warum der Zitisfuss oder Diskonto, im Gegensatz zum Börsen- zinsfuss, so bedeutende Schwankungen aufweist denn sfreithar, und dennoch koprtziren sich gewisse vo/lswirthschaffliehe Sehriffste/ler darauf, sie in Jbrede zu stellen.“ Laveleye begeht nur den Fehler, nicht zwischen Bauk- zinsfuss (Disconto) und Börsenzinsfuss zu unterscheiden und daher zu übersehen, dass ein Ueberfluss oder Mangel an Geld, wenig stens zunächst oder unmittelbar, nur auf den Bankzinsfuss, nicht aber auch auf den Börsenzinsfuss einwirken kann. 50) So bemerkt auch J. M, Mill, — im Widersprucli mit der von ihm^ anfänglich aufgestellten allgemeinen Theorie über Ka pital, Kredit und Zinsfuss —, Principles etc. B. III Ch. XXIII: ,,There is, however, -a frequent ease, in which the purpose of the borrowèr is different from what I have here supposed. He may borrow money, neither to employ it as capital nor to spend it unproductively, but to pay a previous debt. In this case, what he wants is not pure hasing power, but legal tender, or something which a creditor will accept as equivalent to it. U is need is specific ally for money, not for commodities or capital. It is the demand arising from this cause, which produces almost all the great and sudden va riations oj the rate of interest. Such a demand forms one of the earliest features of a commercial crisis, .,4t such a period, many persons in business who have contracted engagements, have been prevented by a change of circumstances from obtaining in time the means on which they calculated for fulfilling them. These means they must obtain at any sacrifice, or submit to bank ruptcy ; and what they must have is money. Other capital, however much of it they may possess, cannot answer the purpose unless mo ney cun first be obtained for it ; while, on the contrary, without

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