 | Arthur Crump - Banks and banking - 1866 - 286 pages
...dependencies. But, on the other hand, as Adam Smith truly remarks, ' the substitution of paper for gold money replaces a very expensive instrument of commerce...much less costly, and sometimes equally convenient — a new wheel comes into operation which is both cheaper to erect and to maintain in efficiency.'... | |
 | Henry Charles Carey - Economics - 1866 - 594 pages
...collecting and supporting that part of the capital which consists in money is an improvement ;" that " the substitution of paper in the room of gold and silver money replaces a very expensive instrument with one less costly and equally convenient;" that "by this operation £20,000 in gold and silver perform... | |
 | Charles Tennant - Banks and banking - 1866 - 894 pages
...of land and labor, the real revenue of every society. That, the substitution of paper money for gold money, replaces a very expensive instrument of commerce with one much less costly, and within certain limits, under certain regulations, equally convenient. That, within proper limits and... | |
 | Adam Smith - Economics - 1869 - 576 pages
...motion, and consequently the annual produce of land and labour, the real revenue of every society. The substitution of paper in the room of gold and silver money .re'placeT a very expensive instrument of commerce with one much .less costly, and sometimes equally... | |
 | Henry Charles Carey, Kate McLean - Economics - 1872 - 584 pages
...collecting and supporting that part of the capital which consists in money is an improvement ;" that " the substitution of paper in the room of gold and silver money replaces a very expensive instrument with one less costly and equally convenient;" that "by this operation £20,000 in gold and silver perform... | |
 | Adam Smith - 1875 - 808 pages
...motion, and consequently the annual produce of land and labour, the real revenue of every society. The substitution of paper in the room of gold and...less both to erect and to maintain than the old one. Bat in what manner this operation is performed, and in what manner it tends to increase either the... | |
 | Henry Varnum Poor - Banks and banking - 1877 - 704 pages
...motion, and consequently the annual produce of the land and labor, — the real revenue of society. The substitution of paper in the room of gold and...a new wheel, which it costs less both to erect and maintain than the old one. But in what manner this operation is performed, and in what manner it tends... | |
 | Henry Varnum Poor - Banks and banking - 1877 - 706 pages
...motion, and consequently the annual produce of the land and labor, — the real revenue of society. The substitution of paper in the room of gold and...a new wheel, which it costs less both to erect and maintain than the old one. But in what manner this operation is performed, and in what manner it tends... | |
 | Banks and banking - 1877 - 1072 pages
...part of the circulating capital which consists in money, is an improvement of exactly the same kind " The substitution of paper in the room of gold and...Circulation comes to be carried on by a new wheel, which costs less both to erect and to maintain than the old one." — Adam Smith, " Wealth of Nations," Book... | |
 | Jeremiah Joyce - 1877 - 260 pages
...puts industry into motion, and consequently must increase the real revenue of the society, p. 290. The substitution of paper ' in the room of gold and...replaces a very expensive instrument of commerce with one less costly. In what manner it tends to increase the revenue of the society requires 1 Paper is made... | |
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The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to... 
