Institutes of Economics: A Succinct Text-book of Political Economy for the Use of Classes in Colleges, High Schools and Academies |
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according Adam Adam Smith advantage amount bank bills Bimetallism Böhm-Bawerk Bonamy Price bonds bullion Cairnes capital cent chaps CHAPTER Cherbuliez circulation Cohn coin colonies commodities competition consumption Contemp Cossa cost of production currency demand dollar duction Econ economic Encyc England equal exchange exchange-value exports favor France Garnier Geld gold and silver Hist important income increase industry interest J. S. Mill Jevons Jour Knies Lalor land legal tender less loan London Macleod Mangoldt manufacturing material means ment mercantilist metal Mill monopoly nature nomic notes paper money partly physiocrats principle profits Prog proportion Quar rent Ricardo Roscher Schoenberg seigniorage Sidgwick Smith social socialists society supply Taxation theory things tion trade undertaker utility wage-fund wages Walker wealth writers Yves Guyot
Popular passages
Page 179 - The natural price of labor is that price which is necessary to enable the laborers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Page 107 - ... value. If the demand increases, the value rises; if the demand diminishes, the value falls: again, if the supply falls off, the value rises; and falls, if the supply is increased. The rise or the fall continues until the demand and supply are again equal to one another: and the value which a commodity will bring in any market, is no other than the value which, in that market, gives a demand just sufficient to carry off the existing or expected supply.
Page 119 - that which passes freely from hand to hand throughout the community in final discharge of debts and full payment for commodities...
Page 136 - For your old and standard pieces, valued, and approved, and tried, Here among the Grecian nations, and in all the world beside; Recognized in every realm for trusty stamp and pure assay, Are rejected and abandon'd for the trash of yesterday; For a vile, adulterate issue, drossy, counterfeit, and base, Which the traffic of the city passes current in their place!
Page 119 - that which passes freely from hand to hand throughout the community in final discharge of debts and full payment for commodities, being accepted equally without reference to the character or credit of the person who offers it and without the intention of the person who receives it to consume it or apply it to any other use than in turn to tender it to others in discharge of debts or payment for commodities.
Page 144 - ... such considerations as these, we should have been less surprised at the quantities of silver and silver surrogates which this country has absorbed since 1878, without ever driving gold to a premium.1 I beg attention to another weighty consideration. The assumption which so many economists and others have taken up from Bruno Hildebrand, of three great periods in the world's economic evolution, viz., barter, money, and credit, as if credit were to have its fullest development in the most perfect...
Page 88 - The straight line or distance between the centres of the transverse lines in the two gold plugs in the bronze bar deposited in the Office of the Exchequer shall be the genuine standard of length at 62° F., and if lost it shall be replaced by means of its copies.
Page 28 - Equally as to suppose the best education attainable by drill in the exact sciences alone. That is important, but often carried relatively too far. Not only do action, conduct, life, all lie in the domain of inexact science, making training in this indispensable to every educated person, but even looking from the point of view of an exclusively liberal education, it is a higher attainment, a finer feat of mind, to be expert in the inexact than in the exact sciences.2 1 Cf . sec.
Page 9 - Inliberales autem et sordidi quaestus mercenariorum omnium, quorum operae, non quorum artes emuntur; est enim in illis ipsa merces auctoramentum servitutis. Sordidi etiam putandi, qui mercantur a mercatoribus, quod statim vendant: nihil enim proficiant, nisi admodum mentiantur: nee vero est quicquam turpius vanitate.