Gesetz betreffend Kinderarbeit in gewerblichen Betrieben

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Monograph

Identifikator:: 882692321

URN:: urn:nbn:de:zbw-retromon-5020

Document type:: Monograph

Author:: Agahd, Konrad http://d-nb.info/gnd/116256575; Schulz, Max von http://d-nb.info/gnd/1033198951

Title:: Gesetz betreffend Kinderarbeit in gewerblichen Betrieben

Edition:: Zweite Auflage, neub bearbeitet

Place of publication:: Jena

Publisher:: Verlag von Gustav Fischer

Year of publication:: 1904

Scope:: 1 Online-Ressource (X, 168 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Erster Teil. Betrachtungen zum Kinderschutzgesetz

Collection:: Economics Books

THE REIGN OF BIMETALLISM 21 of the two metals. For instance, a fall in the stock of silver could create the necessity of seeking it in the cur- rency of bimetallist countries, and thus send it to a pre- mium. But, on this theory, the price of silver, or, in other words, the commercial ratio between the two metals, does not depend on the ratio between the amounts of gold and silver produced, or at least used for minting purposes, but on the ratio between the amount of each metal available for the payments for which it was required and the aggre- gate of these payments. As is well known, settlements between gold standard and silver standard countries were, in fact, always effected during the 19th century by shipments of white metal to the Far Eastern countries. Their accounts with Europe generally disclosed a credit balance ; but as this balance might stand more or less high, the silver on the market might be more or less than sufficient to meet it.! On the other hand, the amount of available silver depended, not only on the amount produced, even after deducting the requirements of industry, but also on the amounts which the trade balances of producing countries like Mexico caused them to throw on the London market.? 1 In India, silver, like gold, has always been imported partly for industrial use, jewellery, etc. As, however, metal required for this purpose would have had to be paid for in coin if the trade balance had been unfavourable, the import of silver into India must be considered as payment in settlement of European debt to that country. 2 Countries which produce precious metals do not export them merely because they have a surplus. It is true for various reasons that the pro- duction of precious metals may produce a trade balance which causes them to be exported; but the export from monometallist countries necessarily depends on the trade balance; for instance, no one will import gold specie if it has to be paid for in gold coin. The majority of silver-producing countries were bimetallist, and it was possible in theory to export gold to them in order to procure silver in the event of its not flowing naturally to the London market in payment of their debts. But this method of conversion would have been even more expensive than conversion into the currencies of neighbouring bimetallist countries, such as France, which were non-producing but possessed a large stock of both metals. We therefore conclude that the silver on the London market arrived there chiefly as a result of the payment of debts by producing countries, and that its amount did not depend directly on production, but on the quantities required for the trade balance of those countries.

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Contents: Modern monetary systems

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