Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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

142 POLITICAL ECONOMY between the gold-using and silver-using coun tries ; and by yet others with the object of enhancing the value of property in silver, or at least of stopping its depreciation. Bimetallism means making the standard of value an alternative consisting in a given quantity of gold or a given quantity of silver of a larger amount, so that for currency pur poses silver and gold are interchangeable at a fixed ratio. The proposal was that three or four leading countries should combine and fix a ratio to be observed in the currency laws of the countries concerned. It was argued that in this event the ratio all over the world between the values of gold and silver would be drawn to the fixed ratio decided upon. Theoretically, the argument was flawless, at any rate for moderate variations in the supplies of either gold or silver, on the assumption that a substantial proportion of the supplies of these metals in existence was devoted to monetary uses. If silver became very plentiful, so that it tended to fall in value with reference to gold, masses of silver would displace gold in the currencies and reserves of the bimetallic countries, and outside these currencies and reserves supplies of gold would be con sequently augmented while supplies of silver

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