An Essay on Money
An Essay on Money

Author: John Taylor

Publisher:

Published: 2015-07-12

Total Pages: 148

ISBN-13: 9781331231066

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Excerpt from An Essay on Money: Its Origin and Use For some years past, inquiries into the Origin and Use of Money have occasionally occupied my leisure hours, and afforded me recreation after the discharge of duties more necessary, though less agreeable than the study of Numismatics. In this way, probably, I should have continued to amuse myself, with no ulterior views, had not circumstances arisen which converted what was previously a source of private gratification, into a pursuit of higher character. My investigations, as I proceeded, began to assume a more serious aspect, and to promise usefulness to my country in the place of solitary entertainment. I saw that, generally speaking, there were truths in the theory of money "not dreamt of in our philosophy." About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com 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.

An Essay on Money, Its Origin and Use
An Essay on Money, Its Origin and Use

Author: John Taylor

Publisher: Theclassics.Us

Published: 2013-09

Total Pages: 34

ISBN-13: 9781230257396

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1844 edition. Excerpt: ... chapter V, imperfection of coin as money. In treating of symbolic money, we decided that it was not necessary that it should possess intrinsic value; but a question may still be raised, whether it may not be desirable that it should have it. Let us therefore consider this question; for there are many who are ready, without consideration, to give it an answer in the affirmative. It is certain, that almost all men believe it to be safer to have a circulating medium composed of the precious metals; because, as they argue, if the government should be overthrown, the people would then have something in their hands which could not fail to prove valuable, and which they would not have if their money consisted of Exchequer Bills or Bank notes, The question in this case does not concern the fractions of a pound; with these, therefore, we will not embarrass the discussion. It may be more convenient, and cannot do harm, for these fractions to be expressed by shillings and pence. But if it be affirmed that we should be safer from loss if all our pounds were to consist of gold or silver coin, we are compelled to say that we cannot see any grounds for the assertion. For suppose the government were to fail, and that our symbolic money consisted wholly of paper, what would ensue? Every man's store of such money would become of no value. True; but, on the other hand, he has no further taxes to pay: he is a gainer, therefore, instead of being a loser, by the. alteration. But further; how came he to be possessed of this symbolic money? He had given value for it; he had paid real money for it, let us suppose, to the amount of his annual contribution to the taxes. His real money, then, the government have received, and he is now holding their tokens of...