Money and Social ProblemsOliphant, Anderson & Ferrier, 1896 - 365 էջ |
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Common terms and phrases
¹ Vide Act of Parliament adopted advantage amount Bank Charter Act bank notes Bank of England bankers banks of issue bimetallism bullion circulation claims coinage coined money commerce commodities contents Crown currency debts demand distress economic principles economists extent fiduciary money fiduciary notes gold and silver Government hands held history of money hold interest issue notes issue of notes Jevons king labour legal tender Lord Overstone means media of exchange ment metals millions monetary legislation money-dealers monopoly moral notes issued obligations operations ounce paper money Parliament passed payment Pheidon political pound price of gold privilege produced profit quantity question real wealth recognised reform representative money right of issuing says securities signs of wealth Sir Robert Peel social problems social welfare socialists standard of value suffering supply tallies taxation taxes theory things tion trade Troy weight United Kingdom writers
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Էջ 120 - Labour alone, therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared.
Էջ 124 - In this popular sense therefore labour, like commodities, may be said to have a real and a nominal price. Its real price may be said to consist in the quantity of the necessaries and conveniences of life which are given for it ; its nominal price, in the quantity of money. The labourer is rich or poor, is well or ill rewarded, in proportion to the real not to the nominal price of his labour.
Էջ 142 - And he bought a parcel of a field, where he had spread his tent, at the hand of the children of Hamor, Shechem's father, for an hundred pieces of money.
Էջ 98 - Political Economy or Economics is a study of man's actions in the ordinary business of life : it inquires how he gets his income and how he uses it. Thus it is on the one side a study of wealth, and on the other, and more important side, a part of the study of man.
Էջ 216 - That we, the undersigned, being highly sensible how necessary the preservation of Public Credit is at this time, do most readily hereby declare, that we will not refuse to receive Bank Notes in payment of any sum of money to be paid to us ; and we will use our utmost endeavours to make all our payments in the same manner.— BEOOK WATSON.
Էջ 143 - Thus having said, the gallant chiefs alight, Their hands they join, their mutual faith they plight; Brave Glaucus then each narrow thought resign'd, (Jove warm'd his bosom, and enlarged his mind,) For Diomed's brass arms, of mean device, For which nine oxen paid, (a vulgar price,) He gave his own, of gold divinely wrought, [131] A hundred beeves the shining purchase bought.
Էջ 112 - The value of a thing, therefore, is independent of opinion, and of quantity. Think what you will of it, gain how much you may of it, the value of the thing itself is neither greater nor less. For ever it avails, or avails not ; no estimate can raise, no disdain depress, the power which it holds from the Maker of things and of men.
Էջ 34 - Gold and silver, however, like every other commodity, vary in their value; are sometimes cheaper and sometimes dearer, sometimes of easier and sometimes of more difficult purchase.
Էջ 233 - Property, and it is expedient that the Gold Coin made according to the Indentures of the Mint should henceforth be the sole Standard Measure of V:ilue and legal Tender for payment without any limitation of amount...
Էջ 120 - Of such a measure it is impossible to be possessed, because there is no commodity which is not itself exposed to the same variations as the things the value of which is to be ascertained ; that is, there is none which is not subject to require more or less labour for its production.