 | Adam Smith - Economics - 1880 - 486 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...replaces a very expensive instrument of commerce with one mur-h less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel,... | |
 | Adam Smith - Economics - 1884 - 604 pages
...motion, and consequently the nnnual produce of land and labour, the real re* venue of every society. The substitution of paper in the room of gold and silver money, replaces a ven- expensive instrument of commerce with one much less costly, and sometimes equally convenient.... | |
 | Archibald Weir - Europe - 1886 - 644 pages
...the same as before, and could produce only the same effects." The substitution of paper, however, " in the room of gold and silver money, replaces a very...less both to erect and to maintain than the old one." * Pursuing this line of argument, Adam Smith concluded that the proper attitude of government towards... | |
 | Phineas Taylor Barnum - Banks and banking - 1890 - 500 pages
...economist once said that " the substitution of paper in the place of gold and silver money replaced a very expensive instrument of commerce with one much...less both to erect and to maintain than the old one." Now, sir, I shall use that quotation as a sort of text to what I am about to say. In proportion as... | |
 | Henry V. Poor - 1898 - 360 pages
...metallic money, the value of which was intrinsic. In his great treatise, "Wealth of Nations," he said: 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 - Currency question - 1896 - 218 pages
...metallic money, the value of which was intrinsic. In his great treatise, "Wealth of Nations," he said: 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... | |
 | Adolf Weber - Bank notes - 1900 - 104 pages
...sich keinen geringeren Gewährsmann als den „Vater der Nationalökonomie", Adam Smith. Er erklärt: The substitution of paper in the room of Gold and...silver money, replaces a very expensive Instrument of commerse with one much less costly and some times equally convenient;" er weist dann darauf hin, dafs... | |
 | Charles Assheton Whately Pownall - Colonial administrators - 1805 - 620 pages
...value of all commodities."1 He looked on money as merely a measure of this value ; he wrote that " the substitution of paper in the room of gold and...much less costly and sometimes equally convenient" In another passage he maintained that " a paper money consisting in bank notes, issued by people of... | |
 | Charles Assheton Whately Pownall - Massachusetts - 1908 - 622 pages
...value of all commodities."* He looked on money as merely a measure of this value ; he wrote that " the substitution of paper in the room of gold and...much less costly and sometimes equally convenient" In another passage he maintained that "a paper money consisting in bank notes, issued by people of... | |
 | Harry Edward Miller - Banks and banking - 1927 - 268 pages
...America as in England. JThe substitution of paper in the room of gold and silver money [Smith explained] replaces a very expensive instrument of commerce with...much less costly, and sometimes equally convenient. . . . Let us suppose, for example, that the whole circulating money of some particular country amounted,... | |
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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... 
