Description
Excerpt from Appreciation and Interest: A Study of the Influence of Monetary Appreciation and Depreciation on the Rate of Interest, With Applications to the Bimetallic Controversy and the Theory of Interest
The chief issues in the bimetallic controversy center about the question of justice between debtor and creditor. The bimetallic propaganda succeeds just so far as it Spreads a belief that an injustice has been done by the adoption of the gold standard, which the re~adoption Of bimetallism would correct.
The question therefore arises, does the appreciation of gold necessarily aggravate det? Are contracting parties powerless to forestall the gains or losses of an upward or downward moving Currency It is clear that if the unit of length were changed and its change were foreknown, contracts would be modified accordingly. Suppose a yard were defined (as once it probably was) to be the length of the king''s girdle, and suppose the king to be a child. Everybody would then know that the yard would increase with age and a merchant who should agree to deliver yards ten years hence, would make his terms correspond to his expectations. TO alter the mode of measurement does not alter the actual quantities involved -but merely the numbers by which they are represented.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
The chief issues in the bimetallic controversy center about the question of justice between debtor and creditor. The bimetallic propaganda succeeds just so far as it Spreads a belief that an injustice has been done by the adoption of the gold standard, which the re~adoption Of bimetallism would correct.
The question therefore arises, does the appreciation of gold necessarily aggravate det? Are contracting parties powerless to forestall the gains or losses of an upward or downward moving Currency It is clear that if the unit of length were changed and its change were foreknown, contracts would be modified accordingly. Suppose a yard were defined (as once it probably was) to be the length of the king''s girdle, and suppose the king to be a child. Everybody would then know that the yard would increase with age and a merchant who should agree to deliver yards ten years hence, would make his terms correspond to his expectations. TO alter the mode of measurement does not alter the actual quantities involved -but merely the numbers by which they are represented.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Details
Publisher - Forgotten Books
Language - English
Hardback
Contributors
Author
Irving Fisher
Published Date -
ISBN - 9780260061256
Dimensions - 22.9 x 15.2 x 0.7 cm
Page Count - 132
Paperback
Contributors
Author
Irving Fisher
Published Date -
ISBN - 9781333730949
Dimensions - 22.9 x 15.2 x 0.7 cm
Page Count - 134
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