An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxesSteuart, James, Sir
History
An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxes
Steuart, James, Sir
Economics
CHAP. IV. Methods which may be proposed for lessening the 542
several inconveniences to which material money is liable,
Use of theory in political matters, ——
Five remedies against the effects of the variation ——
between the value of the metals,
Remedies against the other inconveniences, 544
Against the wearing of the coin, ——
Against inaccuracy of coinage, ——
Against the expence of coinage, ——
Against arbitrary changes in the value of coin, 545
CHAP. V. Variations to which the value of the money-unit is ——
exposed from every disorder in the coin,
How the market price of the metals is made to vary, ——
The variation ought to be referred to the _rising_ 546
metal, and never to the _sinking_,
How the money-unit of accompt is made to vary in its 547
value from the variation of the metals,
Consequences of this, ——
The true unit is the mean proportional between the ——
value of the metals,
The unit to be attached to the mean proportion upon a 548
new coinage, not after the metals have varied,
It is better to affix the unit to one, than to both 549
metals,
Variation to which the money-unit is exposed from the ——
wearing of the coin,
Variations to which the money-unit is exposed, from the 550
inaccuracy in the fabrication of the money,
Variation to which the money-unit is exposed from the 551
imposition of coinage,
When coinage is imposed, bullion must be cheaper than ——
coin,
Exception from this rule, 552
Variation to which the money-unit is exposed by the ——
arbitrary operations of Princes in raising and
debasing the coin,
CHAP. VI. How the variations in the intrinsic value of the 553
unit of money must affect all the domestic interests of a
nation,
How this variation affects the interests of debtors and ——
creditors,
A mistake of Mr. Locke, 555
When the value of the unit is diminished, creditors 556
lose; when it is augmented, debtors lose,
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