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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118 Capitel V. Das vorstehende Käsomiemenl, welches sich nicht nur bei Ricardo und den „Bullionisten“ sowie hei able balance of trade, never arises but from a redundant currency. Hut M '■ Th ornton, ivho has considered this subject very much at l<ir(>e, supposes that a very unfavourable balance of trade may be occasioned to this country by a bad harvest, and the consequent importation oj corn, and that there may be at the same time an unwillingness in the country to which we are indebted to rereive our goods in payment. The balance due to the foreign country must therefore be paid out of that part of our currency consisting of coin, and that hence arises the demand for gold bullion and its increased price. Thorn ton has not erptaincd to us why any unwillingness should exist in the foreign country to receive our goods in exchange for their corn, and it would be necessary for him to show, that if such an unwilling ness were to exist, we should agree to indulge it so far as to con sent to part with our coin. If we consent to give coin in exchange for goods, it must be from choice, not necessity. It'e should not import more goods than we export, unless we had a redundancy of currency, which it therefore suits us t 0 m a k e a part of o u r ex p o rts. T h c e xp or t a t i o n of t he coin is caused by its cheapness and is not the effect, hut t h c cause of a n u n fa vo arable balance: we should not export it, if we did not send it to a better market, or if we had any commodity which we would export more profitably. — It IS only after a comparison of the value in their markets and in our own of gold and other commodities and because gold is cheaper in the London market than in theirs, that for eigners prefer gold in exchange for their corn.“ — ,,Thus then specie will be sent abroad to discharge a debt o n I y w hen it is s u p era b ii n d ant, only when it is the cheapest exportable commodity.“ Ferner: Observations on some

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