Principles of political economy, with some of their applications to social philosophy, Volume 21862 |
From inside the book
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Page v
... quantity 12 3. together with the rapidity of circulation - 4. Explanations and limitations of this principle . 17 19 CHAPTER IX . Of the Value of Money , as dependent on Cost of Production . § 1. The value of money , in a state of ...
... quantity 12 3. together with the rapidity of circulation - 4. Explanations and limitations of this principle . 17 19 CHAPTER IX . Of the Value of Money , as dependent on Cost of Production . § 1. The value of money , in a state of ...
Page 5
... quantity in existence , and even to increase it very greatly not being a rapid process . Gold and silver , therefore , are more fit than any other commodity to be the subject of engagements for receiving or paying a given quantity at ...
... quantity in existence , and even to increase it very greatly not being a rapid process . Gold and silver , therefore , are more fit than any other commodity to be the subject of engagements for receiving or paying a given quantity at ...
Page 6
... quantity in existence is at all times so great in proportion to the annual supply , that the effect on value even of a change in the cost of production is not sudden a very long time being required to diminish mate- 6 BOOK III . CHAPTER ...
... quantity in existence is at all times so great in proportion to the annual supply , that the effect on value even of a change in the cost of production is not sudden a very long time being required to diminish mate- 6 BOOK III . CHAPTER ...
Page 7
... quantity in existence , and even to increase it very greatly not being a rapid process . Gold and silver , therefore , are more fit than any other commodity to be the subject of engagements for receiving or paying a given quantity at ...
... quantity in existence , and even to increase it very greatly not being a rapid process . Gold and silver , therefore , are more fit than any other commodity to be the subject of engagements for receiving or paying a given quantity at ...
Page 12
... quantity offered for sale . But it is not usual to speak of offering money for sale . People are not usually said to buy or sell money . This , however , is merely an accident of language . In point of fact , money is bought and sold ...
... quantity offered for sale . But it is not usual to speak of offering money for sale . People are not usually said to buy or sell money . This , however , is merely an accident of language . In point of fact , money is bought and sold ...
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Common terms and phrases
Adam Smith advantage agricultural amount assignats bank notes Bank of England bankers benefit bill borrow bullion capitalists cause cheaper cheapness cheques circulation circumstances coin commerce consequence consumers corn cost of labour cost of production days labour dealers debt degree demand depend depreciated depreciated currency diminished duction effect employed employment equal equivalent exchange exchange value existing expense exports fall favour France Germany gold and silver greater imports improvement income increase industry issue issuers labour and capital land law of value less loans lower means ment millions mode necessary obtain Octavo paid payment permanent persons Poland population portion pounds precious metals principle produce proportion raise rate of interest rate of profit rent rise of prices seignorage sell speculation supply supposed supposition taxation things tion trade transactions value of money wages whole yards of cloth yards of linen
Popular passages
Page 319 - There is room in the world, no doubt, and even in old countries, for a great increase of population, supposing the arts of life to go on improving, and capital to increase. But even if innocuous, I confess I see very little reason for desiring it.
Page 320 - Hitherto it is questionable if all the mechanical inventions yet made have lightened the day's toil of any human being.
Page 550 - Letting alone, in short, should be the general practice: every departure from it, unless required by some great good, is a certain evil.
Page 375 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the State.
Page 6 - Money is a commodity, and its value is determined like that of other commodities, temporarily by demand and supply, permanently and on the average by cost of production.
Page 322 - ... the other. The rich should be in loco parentis to the poor, guiding and restraining them like children. Of spontaneous action on their part there should be no need. They should be called on for nothing but to do their day's work, and to be moral and religious. Their morality and religion should be provided for them by their superiors, who should see them properly taught it, and should do all that is necessary to ensure their being, in return for labour and attachment, properly fed, clothed, housed,...
Page 325 - ... when they were brought together in numbers, to work socially under the same roof; when railways enabled them to shift from place to place, and change their patrons and employers as easily as their coats; when they were encouraged to seek a share in the government, by means of the electoral franchise.
Page 374 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 118 - It is commerce which is rapidly rendering war obsolete, by strengthening and multiplying the personal interests which are in natural opposition to it.
Page 339 - THE form of association, however, which, if mankind continue to improve, must be expected in the end to predominate, is not that which can exist between a capitalist as chief and workpeople without a voice in the management, but the association of the labourers themselves on terms of equality, collectively owning the capital with which they carry on their operations, and working under managers elected and removable by themselves.