dreamscoko
Beginner
จำนวนข้อความ : 3
Points : 9
Registration date : 11/01/2011
 | เรื่อง: If an instrument  Tue Jan 11, 2011 2:14 pm | |
| If an instrumentIf an instrument of any kind be beneficial, how can it be injurious to increase the number in use, as long as those who are to use them ask and pay for them P Suppose it were asserted tory burch flats that increasing the number of ploughs tory burch outlet decreased their value, and that, therefore, to protect the interests of the community, it was necessary to limit the number of ploughs in use. Could this be beneficial to any one but the present holders of ploughs, who thereby would be benefited by the increase of their value ? Exactly so with paper money. By making those who obtain paper money from the issuers, give security for its return and pay interest for its use until returned, the demand for paper money is certain to be limited at all times to the amount really useful to the borrowers. tory burch sale And if any given amount be useful to the commercial and industrial interests, it cannot be injurious to any portion of humanity ; for it is now clearly established by political economy, that under perfect liberty, anything really beneficial to a portion, is beneficial to the whole of humanity. The contrary doctrine arises, invariably, from looking only at the first effects, and omitting all consideration of the subsequent, ulterior, effects of any measure.It is generally supposed that the redemption of paper issues in specie is the best guarantee against over issues. This is what is called in England " the banking principle," which supposes that this is recessary to maintain the value of a paper currency on a par with the currency of other nations with which commodities are exchanged. It is supposed that whenever the paper issues become redundant they reduce the value of the currency, which leads to an exportation of the precious metals from the country whose circulation is excessive, and this then leads to the presentation of bank notes to obtain specie to meet the export demand, until the equilibrium of both volume and value be tory burch shoes reestablished.
| |
|
Calendar
