The Elements of Political Economy

Front Cover
Longman, Brown, Green, Longmans, and Roberts, 1858 - Economics - 573 pages
 

Contents

wants of the members of Society
20
Quantity of the Currency should be proportioned to the debt
21
Disadvantages of a Metallic Currency
27
Such discussions are excluded from this Treatise
32
Error of Ricardos regarding natural prices of labor
33
SECTION
35
The same continued
39
Difference between SALE and Exchange
40
Bullion is the only regulator of its amount
45
Opinion of Mr Thornton
46
Length of time it took to abolish the Usury Laws
52
Criterion to decide what is and what is not Currency
54
Difficulty of discriminating the separate causes
58
The distinction between Value in use and Value in Exchange
60
Doubtful merits ascribed to the Act in 1847
65
The same continued
66
Error of confounding the actual profit with the rate of profit 145
67
Capital and Credit constitute the Circulating Medium
72
Meaning of CAPITAL and CREDIT
78
The measure of value liable to undergo a change
79
The same continued
84
Further examples
85
124
89
1
95
Inconvenience of an unlimited quantity of two species of metallic currency 167
96
The same law applicable to any other substance used
97
Application of this law of Price will be considered in
101
Tendency towards an equality of profits
103
10
107
Diminution in value of coin does not cause any difference
108
General law in experimental science
111
16
112
The Value of Money varies inversely as Price and directly
116
Distinction between WEALTH and RESOURCES
122
Total failure of the law that cost of production regulates value
125
CHAPTER I
127
43
128
Case of diamonds and pearls
131
61
141
88
163
Wages of labor also an erroneous measure
165
a currency
167
As for instance an inconvertible paper currency
168
Effects of improving the communications in a country
169
Difference of price of an article in two markets can never exceed for any length of time the cost of conveying it from one to the other
170
Gold bullion is the measure of the value of the Currency
171
Changes in value as indicated by nominal prices sometimes only apparent and not real
172
Error of Adam Smiths doctrine of natural price
173
Industry is the fundamental idea of property
174
Error of the system of Protection
175
What it is
176
Law of the Maximum in France in 1793
177
Both systems are forms of Socialism
178
Case of Value apparently anomalous
179
Services rendered are of different natures
180
13
194
Tendency towards an equilibrium of advantages
200
Upon INTEREST
216
Mint price of gold fixed at 3 178 10дd
229
Example of a very low rate of interest in France in 1812
234
6
238
Preliminary Remarks
241
Meaning of DEBT
246
Failure of Credit causes a demand for money
261
10
281
11
282
28
289
42
297
Refutation of common errors regarding payment of Bills
303
SECTION III
311
Reply to Mr Cobdens opinion
333
45
338
Lord Overstones opinion is a violation of the Law of Continuity
339
The exchanges restored by the recoinage
350
Use of a currency
355
Description of the Balance of Trade
369
Further description of commercial operations
379
A political or commercial convulsion in any country causes
398
111
406
It is a violation of the fundamental conception of a Currency
413
The essence of Lawism is that money represents commodities
422
Arguments applicable to the case of wheat also apply to debt
453
2
467
Great degradation of the coinage in 1694
476
bank notes were held to be at a discount
480
His criterion adopted and proved to confirm the doctrines
492
45
496
56
505
67
513
SECTION PAGE 71 Great rise in the price of gold and fall in the exchanges
516
State of facts agreed upon
517
Some of the doctrines maintained by the Committee
519
Mr Horners resolutions
520
The Government maintains that the coinage of England never did contain any definite weight of bullion
521
Absurdity of this opinion
522
The House of Commons votes that 21 was equal to 27
523
Consequences of this vote Further depreciation of the note
524
Great mercantile disasters in 18151617
525
Great destruction of paper currency and restoration of the remainder to par
526
Third suspension of cash payments by the Bank of England
527
Appointment of committees by both Houses of Parliament
528
The British pound means 5dwts 3274grns of gold 22
529
Table shewing the different values for which the pound weight of silver and gold were ordered to pass current by various mint indentures from 1344...
531
Table showing the chief variations in the market price of gold bullion from 1790 to 1819 and the true value of the Bank of England 1 note during th...
532
CHAPTER VII
533
Great importance of the question
535
The whole end of Political Economy is to regulate the currency
536
15
542
Approach of the crisis of 1825
551
Absurdity of the Currency principle
558

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