Logik des Geldes

Bibliographic data

Monograph

Identifikator:: 890261784

URN:: urn:nbn:de:zbw-retromon-15521

Document type:: Monograph

Author:: Moll, Bruno http://d-nb.info/gnd/117121045

Title:: Logik des Geldes

Place of publication:: München

Publisher:: Verlag von Duncker & Humblot

Year of publication:: 1916

Scope:: 1 Online-Ressource (104 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Drittes Kapitel. Die Geldliteratur und der Versuch, zu Ende zu denken

Collection:: Economics Books

MONEY 125 exorbitant sums. A quire of paper sold for ten pesos de oro ”—the normal purchasing power of a peso de oro was, we are informed, equal to the purchasing power of something between £2 and £3 to-day—“ a bottle of wine, for sixty ; a sword, for forty or fifty ; a cloak, for a hundred,—sometimes more ; a pair of shoes cost thirty or forty pesos de oro, and a good horse could not be had for less than twenty- five hundred. Some brought a still higher price. Every article rose in value, as gold and silver, the representatives of all, declined. Gold and silver, in short, seemed to be the only things in Cuzco that were not wealth.” The quantity theory of money, of course, holds also for the totality of money, including credit media of exchange, which will be dealt with next At last, with the introduction of credit money, we are brought into touch with a new fact. Broadly speaking, credit money which is not inconvertible consists in documentary promises to pay commodity money, and these promises, when complete confidence is reposed in those who are pledged by them, happen, curiously enough, to be competent for effecting exchanges. This is the only case, so far as I am aware, in which

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