CONTENT:

DAT

GINERAL PRINCIPLES

§ 1. INTRODUCT:
§ 2. RECOGNITICNH
CHANCES:

3
“IF

MEASUREMENT
Mr FEN
SITTE ©

OF

+» change in general prices is the same thing
change in the value of money. . . . .
Which is difficult to recognise and is often denied
But can be measured by means of index numbers

—

AL
Y 72

z= A

2-3
3-4
4-8

TIE VALUE OF MONEY OR GENERAL LEVEL
OF = ~~ "ERE THE UNIT OF ACCOUNT
= ~~ Burrion UN-CO;



8-25

Free interchangeabilitv
their value identical . . .
The value of gold depends on the demand for industrial
 and currency purposes . 10-19
And on the supply . : . . ’ . 19-21
It is affected by anticipation of future changes . « 21-28%

bullion and coin makes

§

THE VALUE OF MONEY OR GENERAL LEVEL
OF PRICES WHERE THE UNIT OF ACCOUNT
1s A COIN OF WHICH THE ISSUE 1s LIMITED . 25-39
A seignorage keeps the value of coin above that of
bullion by limiting its supply. . . . . 25-29
Similarly an arbitrary limitation of supply can be
worked so as to keep the value of = coin at anv ~a=*ic ‘ar
level alove that of bullinn
Like the British silver
And the Indian —

29-30
30-36
- 39