This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 Excerpt: ...Now, theoretically, there can be no doubt that "any rise in the money price of goods, which proceeds altogether from the degradation of the value of silver or the metal constituting the standard, will affect all sorts of goods equally, and raise their price universally;"f but then it will only do so, other things ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1853 Excerpt: ...Now, theoretically, there can be no doubt that "any rise in the money price of goods, which proceeds altogether from the degradation of the value of silver or the metal constituting the standard, will affect all sorts of goods equally, and raise their price universally;"f but then it will only do so, other things remaining the same. If the cost of producing the goods is diminished at the same time, and in the same proportion that the cost of producing the precious metals is diminished, no effect will be produced on the price of such goods. If again the cost of production in some departments is diminished, while in others it remains stationary, or is enhanced, a degradation of silver will in the one case have little or no effect, while in the other, prices will be increased or diminished. Practically, during a fall in the value of the precious metals, other things generally do not remain the same; cost of production in some departments is falling, in others rising, in others stationary; and hence we never actually see a simultaneous rise or fall in the value of all Wealth of Nations (M'Culloch's Edition), vol. i. p. 394. t lb. things. This, however, instead of invalidating rather strengthens and fortifies the doctrine of Smith, that a change in the real value of the precious metals raises or depresses the prices of all goods equally and universally when the cost of producing the goods themselves remains the same. A change in the value of the precious metals acts upon the prices of all commodities; but in some instances its action is to a greater or less extent countervailed by causes operating in an opposite direction; and in these instances, therefore, the rise or fall of price may not be apparent. Viewing from a greater distance the phenomena whi...
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Add this copy of The Australian and Californian Gold Discoveries, and to cart. $34.36, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2012 by Gale, Sabin Americana.
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Add this copy of The Australian and Californian Gold Discoveries, and to cart. $52.33, good condition, Sold by Bonita rated 4.0 out of 5 stars, ships from Hialeah, FL, UNITED STATES, published 2012 by Gale, Sabin Americana.
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Add this copy of The Australian & Californian Gold Discoveries & Their to cart. $94.00, very good condition, Sold by Expatriate Bookshop rated 5.0 out of 5 stars, ships from Svendborg, DENMARK, published 1969 by Greenwood.
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Seller's Description:
Minor rubbing, VG. 22x14cm, 279 pp, A facsimile reprint of the 1857 edition. Full title concludes: "...which determine the Value & Distribution of Precious Metals; with historical Notices of the Effects of the American Mines on European prices in the Sixteenth, Seventeenth & Eighteenth Centuries in a Series of Letters"
