Finance and taxation, money and bimetallism, economic theory

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H. Holt, 1899 - Economics
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Page 104 - The superiority of one country over another in a branch of production, often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present superiority of acquired skill and experience. A country which has this skill and experience yet to acquire, may in other respects be better adapted to the production than those which were earlier in the field...
Page 384 - This sum is not regarded as unalterable, for it is augmented by saving, and increases with the progress of wealth ; but it is reasoned upon as at any given moment a predetermined amount.
Page 181 - But, upon the whole, it seems to be most advisable, as has been observed, not to attach the unit exclusively to either of the metals; because this cannot be done effectually, without destroying the office and character of one of them as money, and reducing it to the situation of...
Page 306 - It makes entire abstraction of every other human passion or motive; except those which may be regarded as perpetually antagonizing principles to the desire of wealth, namely, aversion to labour...
Page 227 - Accordingly we find, that, in every kingdom, into which money begins to flow in greater abundance than formerly, everything takes a new face : labour and industry gain life ; the merchant becomes more enterprising, the manufacturer more diligent and skilful, and even the farmer follows his plough with greater alacrity and attention.
Page 313 - ... indications of the feeling of eminent individualities on this matter, for of late years the growing dissatisfaction has risen to the dimensions of a European revolt, whose organs have appeared not in the ranks of general literature, but within the sphere of economic investigation itself. It is a characteristic result of the narrowness and spirit of routine which have too much prevailed in the dominant English school of economists, that they are either unacquainted with, or have chosen to ignore,...
Page 227 - But, notwithstanding this conclusion, which must be allowed just, it is certain, that, since the discovery of the mines in America, industry has increased in all the nations of Europe, except in the possessors of those mines ; and this may justly bo ascribed, amongst other reasons, to the increase of gold and silver.
Page 281 - These it takes, to a certain extent, into its calculations, because these do not merely, like other desires, occasionally conflict with the pursuit of wealth, but accompany it always, as a drag or impediment, and are therefore inseparably mixed up in the consideration of it. Political Economy considers mankind as occupied solely in acquiring and consuming wealth...
Page 181 - To annul the use of either of the metals as money is to abridge the quantity of circulating medium, and is liable to all the objections which arise from a comparison of the benefits of a full with the evils of a scanty circulation.
Page 228 - At first, no alteration is perceived ; by degrees the price rises, first of one commodity, then of another ; till the whole at last reaches a just proportion with the new quantity of specie which is in the kingdom. In my opinion, it is only in this interval or intermediate situation, between the acquisition of money and rise of prices, that the increasing quantity of gold and silver is. favourable to industry.

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