Principles of Political Economy: With Some of Their Applications to Social Philosophy, Volume 2D. Appleton, 1868 - Economics |
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Page 33
... exist , no longer ad- mits of so simple a mode of expression . But on a subject so full of complexity as that of currency and prices , it is neces- sary to lay the foundation of our theory in a thorough un- derstanding of the most ...
... exist , no longer ad- mits of so simple a mode of expression . But on a subject so full of complexity as that of currency and prices , it is neces- sary to lay the foundation of our theory in a thorough un- derstanding of the most ...
Page 42
... exists in the whole commercial world . And hence the effects of all changes in the conditions of production of the precious metals are at first , and continue to be for many years , questions of quantity only , with little reference to ...
... exists in the whole commercial world . And hence the effects of all changes in the conditions of production of the precious metals are at first , and continue to be for many years , questions of quantity only , with little reference to ...
Page 43
... exist for any other commodity , when the truth is that it is governed by the very same laws . To this we may an- swer , in the first place , that the statement in question as- sumes no peculiar law . It is simply the law of demand and ...
... exist for any other commodity , when the truth is that it is governed by the very same laws . To this we may an- swer , in the first place , that the statement in question as- sumes no peculiar law . It is simply the law of demand and ...
Page 52
... exist , a prudent person must keep a sufficient sum unemployed in his own possession , to meet every demand which he has even a slight reason for thinking himself liable to . When the practice , however , has grown up of keeping this ...
... exist , a prudent person must keep a sufficient sum unemployed in his own possession , to meet every demand which he has even a slight reason for thinking himself liable to . When the practice , however , has grown up of keeping this ...
Page 57
... to other purposes than that of paying the bill in question . No such power exists ; neither the man who holds the real bill , nor the man who discounts it , has any property in the specific goods CREDIT AS A SUBSTITUTE FOR MONEY . 57.
... to other purposes than that of paying the bill in question . No such power exists ; neither the man who holds the real bill , nor the man who discounts it , has any property in the specific goods CREDIT AS A SUBSTITUTE FOR MONEY . 57.
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Common terms and phrases
100 days labour 17 yards Adam Smith advantage amount assignats bank notes Bank of England bankers benefit bills bullion cause cheaper cheapness cheques circulation circumstances coin commerce consumers corn cost of carriage cost of production dealers debt depend depreciation diminished duction effect equal equivalent exactly exchange value exist expense exports fall favourable foreign commodities foreign countries France Germany gold and silver imports improvement income increase industry international demand issue issuers labour and capital land law of value less loans lower means ment million mode modities mon language necessary obtain paid payment permanent persons Poland portion pounds pounds sterling precious metals produce proportion quantity of money raise rate of interest rate of profit rent rise of prices seignorage sell speculation supply supposed supposition taxation things tion trade transactions value of money wages wanted whole yards of cloth yards of linen
Popular passages
Page 334 - ... a well-paid and affluent body of labourers; no enormous fortunes, except what were earned and accumulated during a single lifetime; but a much larger body of persons than at present, not only exempt from the coarser toils, but with sufficient leisure, both physical and mental, from mechanical details, to cultivate freely the graces of life, and afford examples of them to the classes less favourably circumstanced for their growth.
Page 189 - Gold and silver having been chosen for the general medium of circulation, they are, by the competition of commerce, distributed in such proportions amongst the different countries of the world, as to accommodate themselves to the natural traffic which would take place if no such metals existed, and the trade between countries were purely a trade of barter.
Page 335 - There is room iu the world, no doubt, and even in old countries, for a great increase of population, supposing the arts of life to go on improving, and capital to increase. But even if innocuous, I confess I see very little reason for desiring it.
Page 408 - They grow richer, as it were in their sleep, without working, risking, or economizing. What claim have they, on the general principle of social justice, to this accession of riches...
Page 567 - Laisserfaire, in short, should be the general practice : every departure from it, unless required by some great good, is a certain evil.
Page 391 - Thirdly, by the forfeitures and other penalties which those unfortunate individuals incur who attempt unsuccessfully to evade the tax, it may frequently ruin them, and thereby put an end to the benefit which the community might have derived from the employment of their capitals. An injudicious tax offers a great temptation to smuggling. Fourthly, by subjecting the people to the frequent visits and the odious examination of the tax-gatherers, it may expose them to much unnecessary trouble, vexation,...
Page 391 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as little as possible over and above what it brings into the public treasury of the state. A tax may either take out or keep out of the pockets of the people a great deal more than it brings into the public treasury...
Page 390 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 390 - The tax which each individual is bound to pay ought to be certain and not arbitrary. The time of payment, the manner of payment, the quantity to be paid, ought all to be clear and plain to the contributor and to every other person.
Page 391 - Every tax ought to be levied at the time or in the manner in which it is most likely to be convenient for the contributor to pay it.