Full text: Political economy

MONEY 
141 
prices are kept approximately stationary ; 
but, though theoretically such a scheme 
could be carried out, he would be a rash 
prophet who should venture to foretell that 
it is really feasible. However, we may con 
clude that reliable index numbers of general 
prices ought to be kept and made public 
(as they are), and carefully watched by the 
business world (as they are not ordinarily) 
with a view to orders relating to the future 
and adjustments of salaries and wages. 
Index numbers of prices are figures, scientifi 
cally calculated from the prices of a large 
number of different things, which indicate 
how on an average prices are moving. 
No discussion of money would be complete 
without some reference to bimetallism, a 
subject which links on to the question of the 
purchasing-power of money. The agitation 
for bimetallism was very strong some years 
after the fall in prices which began in the 
“ ’seventies,” but of late it has collapsed, and 
it can no longer be held to play a noticeable 
part in current economic movements. It 
was desired by some with the object of stop 
ping the fall in prices ; by others with the 
object of steadying prices ; by others with 
the object of creating a par of exchange
	        
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