Three lectures on the cost of obtaining money, and on some effects of private and government paper money

Front Cover
0 Reviews
Reviews aren't verified, but Google checks for and removes fake content when it's identified

From inside the book

What people are saying - Write a review

We haven't found any reviews in the usual places.

Selected pages

Other editions - View all

Common terms and phrases

Popular passages

Page 13 - The mine worked by England is the general market of the world : the miners are those who produce those commodities by the exportation of which the precious metals are obtained...
Page 98 - The True History of the State Prisoner, commonly called the Iron Mask...
Page 97 - It is according to the division of the whole produce of the land of any particular farm, between the three classes, of landlord, capitalist, and laborer, that we are to judge of the rise or fall of rent, profit, and wages...
Page 97 - ... Under the circumstances I have just supposed, commodities would have fallen to half their former value, and if money had not varied, to half their former price also. If then in this medium, which had not varied in value, the wages of the labourer should be found to have fallen, it will not the less be a real fall because they might furnish him with a greater quantity of cheap commodities than his former wages.
Page 97 - In that case I should say, that wages and rent had fallen, and profits risen; though, in consequence of the abundance of commodities, the quantity paid to the labourer and landlord would have increased in the proportion of 25 to 44.
Page 17 - Italian aristocracy from the first floor to the garret, or the entresol. Little imagining that the greater part of the value of what he called his patrimony was, in fact, the creation of the chimneys and jennies of his neighbour, the manufacturer. Such, in fact, were the events which actually occurred in this country during the latter part of the eighteenth and the beginning of the nineteenth century. The inventions of Arkwright and Watt, by making English labour ten times, or more than ten times...
Page 68 - ... the bank for coin. Its notes, though they lost the premium which they had borne while the establishment continued in Mr. Law's hands, still exchanged for coin at par. I must now turn a little backwards in the story and state that, while the bank was in the hands of Mr. Law and his partners, they had received from the government the exclusive privilege of trading to the West Indies and the French possessions on the continent of America (whence the name of the Mississippi scheme has ever since...
Page 97 - Wages are to be estimated by their real value, viz., by the quantity of labour and capital employed in producing them, and not by their nominal value either in coats, hats, money, or corn.
Page 12 - In fact the portableness of the precious metals and the universality of the demand for them render the whole commercial world one country, in which bullion is the money and the inhabitants of each nation form a distinct class of labourers.
Page 97 - ... it would, I apprehend, be correct for me to say, that rent and wages had fallen while profits had risen ; for if we had an invariable standard by which to measure the value of this produce, we should find that a less value had fallen to the class of labourers and landlords, and a greater to the class of capitalists, than had been given before. We might find, for example, that though the absolute quantity of commodities had been doubled, they were the produce of precisely the former quantity of...

Bibliographic information