Unto This Last, and Other Essays on Political EconomyRuskin, John
General
Unto This Last, and Other Essays on Political Economy
Ruskin, John
Art; Economics
[89] It is difficult to estimate the curious futility of
discussions such as that which lately occupied a section of
the British Association, on the absorption of gold, while no
one can produce even the simplest of the data necessary for
the inquiry. To take the first occurring one,--What means
have we of ascertaining the weight of gold employed this
year in the toilettes of the women of Europe (not to
speak of Asia); and, supposing it known, what means of
conjecturing the weight by which, next year, their fancies,
and the changes of style among their jewellers, will
diminish or increase it?
[90] See, in Pope's epistle to Lord Bathurst, his sketch of the
difficulties and uses of a currency literally "pecuniary"--
"His Grace will game--to White's a bull he led," etc.
[91] Perhaps both; perhaps silver only. It may be found
expedient ultimately to leave gold free for use in the arts.
As a means of reckoning, the standard might be, and in some
cases has already been, entirely ideal.--See Mill's
"Political Economy," book iii., chap. 7, at beginning.
[92] The purity of the drachma and sequin were not without
significance of the state of intellect, art, and policy,
both in Athens and Venice;--a fact first impressed upon
me ten years ago, when, in daguerreotypes of Venetian
architecture, I found no purchasable gold pure enough
to gild them with, but that of the old Venetian sequin.
Whatever the article or articles may be which the national currency
promises to pay, a premium on that article indicates bankruptcy of the
Government in that proportion, the division of the assets being
restrained only by the remaining confidence of the holders of notes in
the return of prosperity to the firm. Incontrovertible currencies,
those of forced acceptance, or of unlimited issue, are merely various
modes of disguising taxation, and delaying its pressure, until it is
too late to interfere with its causes. To do away with the possibility
of such disguise would have been among the first results of a true
economical science, had any such existed; but there have been too many
motives for the concealment, so long as it could by any artifices be
maintained, to permit hitherto even the founding of such a science.
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