Jottings on Money

Jottings on Money

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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. 1853 edition. Excerpt: ...exchange by authority, whenever it should become adverse, as if foreigners beyond sea would be forced, against their own interest, to regard law made in England. Recherches sur le Commerce, torn. 1, p. 22. t Anderson's Historj of Commerce, Vol. III., p. 300. Misselden wrote a work just the reverse of his opponent, entitled the Circle of Commerce and Free Trade, in which he explained the business of mercantile exchange as it is understood at this day, and pointed out the folly of attempting to regulate it by public authority, since it was then, as it is now principally governed by our imports and exports, and by the greater or less demand for money at home or abroad. This discussion was in consequence of the adverse exchange and the disputes with the Dutch East India Company, which had caused great losses to England by the fall of East India stock. Such, it must be admitted, will always be the effect from war, and, therefore, let us be provided with gold in all shapes, that we may throw as much coin abroad as possible; and in this case the ring, or annular coin (subsequently described), will well fulfil its office, as we hope it will be in thousands of hands over the world, who will receive it at 81. 17s. lOd. standard price per ounce, and it cannot be controverted that the rings will return to us whenever we call for them by a premium on gold. Bankers, and dealers in foreign bills and bullion, are very good judges of those special articles in which they deal with London, Paris, Hamburg, and Amsterdam; that is, they take the profit resulting from arbitrating and selling the dearest-bills, and buying the cheapest. But if we inquire of them the origin of bills, they are usually as ignorant as any other personp solely engaged in commerce, ...show more

Product details

  • Paperback | 26 pages
  • 189 x 246 x 1mm | 68g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236788346
  • 9781236788344