Excerpt from Letter to Charles Wood on Money, and the Means of Economizing the Use of It The above sketch of the mode in which money was introduced in order to facilitate the exchange of commodities will enable us clearly to perceive its most essential properties z - lst. That it is a sign or representative of value. 2d. That it is a standard of value. 3d. That it is an accurate measure of value from the highest to the lowest degree. 4th. And as a corollary, That it is in universal demand and forms the general medium of ...
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Excerpt from Letter to Charles Wood on Money, and the Means of Economizing the Use of It The above sketch of the mode in which money was introduced in order to facilitate the exchange of commodities will enable us clearly to perceive its most essential properties z - lst. That it is a sign or representative of value. 2d. That it is a standard of value. 3d. That it is an accurate measure of value from the highest to the lowest degree. 4th. And as a corollary, That it is in universal demand and forms the general medium of exchange. The final result of its possessing these properties is that the civilized part of man kind, at all times and in all places, are willing to receive it to any extent in exchange for all articles which they may wish to sell. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... 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.
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