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

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MONEY 143 would be reduced. Similarly if gold became relatively more plentiful corresponding effects would follow. Either process would con tinue until the resultant alterations in the outside supplies of gold and silver were sufficient to bring their market values to the fixed ratio. Were the scheme adopted with a ratio which would make it work at first, it would only break down if the supplies of one of the metals became so large as to result in the complete ejection of the other metal from the currencies of the bi metallic countries. Comparatively successful bimetallic arrangements were made by certain countries many years ago ; but it was realized by the far-seeing during the late agitation that immense practical difficulties lay in the way of a revival of the system on the basis of an agreement between three or four lead ing countries. If bimetallism were adopted, and the exchange ratio between gold and silver were made such that some silver would be attracted into currencies, prices would be somewhat elevated because the bullion basis of currencies would be augmented by the incorporation of the silver. Also fluctuations in the purchasing-power of money might be lessened, if supplies of silver did not fluctuate

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