Our Money (Classic Reprint)

Excerpt from Our Money The use of money is to measure values and effect exchanges, ex, buying and selling. The natural law of measurement is that the standard Shall be fixed, whether the measure be a yardstick, a quart pot, a pound-weight, or a dollar; so the ideal measure of value or medium of exchange must be a fixed unit. Such unit must be a fixed quantity of some selected commodity having intrinsic and stable value. The best commodity now known for this purpose is gold, chieży because its value is so universal, permanent and stable that it has been steadily accumulated for centuries, practically without loss. However large the annual product may be, the addition to these accumulations is relatively small, and more or less in proportion to the growth of business. For subsidiary or fractional coinage, silver, nickel and copper are more convenient than gold, but this article treats of principal or standard money. 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.