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. 1920 edition. Excerpt: …for by the increasing volume of trade and the successive demonetization of silver by various countries. The foregoing parallelism between monetary stocks and prices is somewhat remarkable in view of the incompleteness of the data.1 In the table there are lacking, not only exact statistics as to the volume of trade and all statistics whatever of velocity of circulation, but also statistics of the volume of bank notes, government notes, and deposit currency. We know, however, that modern banking, which had scarcely developed at all before the French Revolution, developed rapidly throughout the nineteenth century. It is also known that banking and deposit currency developed more rapidly during the third period in the table (1849-1873) than during the fourth (1873-1896),2 which fact contributes somewhat to explain the contrast between the price movements of these two periods. §4 We may, therefore, summarize the course of price movements during the nineteenth century by the following probable statements:–1. Between 1789 and 1809 prices rose rapidly, the ‘Cf. Albert Aupetit,’ Essai sur la thiorie ginirale de la monnaie, Paris (Guillaumin), 1901, pp. 271-285. See Mulhall, Dictionary of Statistics, article on ‘.’Banks.” index numbers of Jevons moving from 85 to 157 when prices are expressed in the gold standard, or 161 when expressed in paper.1 That is, prices practically doubled in twenty years. This rise was due to the increased stock of gold and silver, which in turn was due to their large production during this period as compared with the periods before and after. The production of silver was especially great.2 The Napoleonic wars with their destruction of wealth and interference with trade probably exercised some influence in the…
Author: Irving Fisher
Binding: Paperback
EAN: 9781230064161
Manufacturer: RareBooksClub.com
Number of items: 1
Number of pages: 142
Product group: Book
Studio: RareBooksClub.com
Publication Date: 2013-09-13
Publisher: RareBooksClub.com
Pages: 142
ISBN: 1230064168
