ISBN: 9780217917957

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1893. Excerpt: ... CHAP… Mehr…

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1893. Excerpt: ... CHAPTER XVII. THE VOLUME OF MONEY Much controversy exists as to what volume of money should be maintained in the United States, and conflicting theories on this subject compete for practical application through the coinage and currency laws. It is important for Congress to decide rightly among these theories, because, of course, there can be only one true theory, and if that one is not selected as the basis of legislation, harm rather than good will result. These theories have not been formulated with scientific precision; if they were, perhaps, some of them would not have so many adherents, but each has been tacitly accepted by some among those who favor the legislative measures which are the logical expression of the principles the theories severally set forth. The first, and apparently the most popular theory, is what may be called the per capita requirement, which is, in effect, that the volume of money in the country should increase in some sort of proportion to the increase in the total number of inhabitants. In considering this theory the first inquiry must be whether there is really, or can be, any relation between the number of people in the country and the number or the money amount of coins and notes existing at any particular time; because, of course, the whole theory of a per capita requirement of currency depends upon there being such a relation. If any argument exists in support of this postulate, I have not seen it. In the debates in Congress those who favored the silver legislation of the last twelve years used to cite certain figures as to the per capita supply of money in different countries as evidence that there should be more currency in the United States, and it may be that these figures are considered as supplying an argument of that character, but they do ... William Lee Trenholm, Books, History, The People's Money Books>History This is an OCR edition without illustrations or index. It may have numerous typos or missing text. However, purchasers can download a free scanned copy of the original rare book from GeneralBooksClub.com. You can also preview excerpts from the book there. Purchasers are also entitled to a free trial membership in the General Books Club where they can select from more than a million books without charge. Original Published by: C. Scribner's sons in 1893 in 305 pages; Subjects: Money; Currency question; Gold standard; Business & Economics / Finance; Business & Economics / Money & Monetary Policy; History / General;<

ISBN: 9780217917957

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1893. Excerpt: ... CHAP… Mehr…

Book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1893. Excerpt: ... CHAPTER XVII. THE VOLUME OF MONEY Much controversy exists as to what volume of money should be maintained in the United States, and conflicting theories on this subject compete for practical application through the coinage and currency laws. It is important for Congress to decide rightly among these theories, because, of course, there can be only one true theory, and if that one is not selected as the basis of legislation, harm rather than good will result. These theories have not been formulated with scientific precision; if they were, perhaps, some of them would not have so many adherents, but each has been tacitly accepted by some among those who favor the legislative measures which are the logical expression of the principles the theories severally set forth. The first, and apparently the most popular theory, is what may be called the per capita requirement, which is, in effect, that the volume of money in the country should increase in some sort of proportion to the increase in the total number of inhabitants. In considering this theory the first inquiry must be whether there is really, or can be, any relation between the number of people in the country and the number or the money amount of coins and notes existing at any particular time; because, of course, the whole theory of a per capita requirement of currency depends upon there being such a relation. If any argument exists in support of this postulate, I have not seen it. In the debates in Congress those who favored the silver legislation of the last twelve years used to cite certain figures as to the per capita supply of money in different countries as evidence that there should be more currency in the United States, and it may be that these figures are considered as supplying an argument of that character, but they do ... William Lee Trenholm, Books, History, The People's Money Books>History, General Books LLC<