Loading ...PREFACE
A COMPARATIVELY short space of time has elapsed since the second edition (fourth impression) of this work was published, but during that period the variations in the silver exchanges have been kaleidoscopic. The end of the devastating war of 1914-1918 finds the currency of the world literally in the melting pot. Gold in most countries has disappeared altogether, and silver bids fair to become almost as scarce. The demand for the white metal has caused its price to rise to undreamt of levels, and exchange has climbed painfully after it. In the circumstances, the nations of the East have not been slow to seize the opportunity to make an illicit profit by melting their silver coins and smuggling the resultant bullion out of the country.
The Governments in many countries have aggravated the evil by making successive issues of paper money ; others have reduced the proportion of silver to alloy contained in their subsidiary coins, and nearly everywhere is seen the inexorable working of Gresham’s law — ” bad ” money driving the good money out of circulation.
Just what steps have been taken by the various governments to deal with the currency problems that have arisen are fully described in this new edition, and the Author has taken the opportunity to bring the various chapters up-to-date, to incorporate fresh material, and to deal fully with the history of silver and exchange during the war years. The task has been made the more pleasant by the many helpful suggestions received from unknown correspondents in India, China, Indo-China, Java, Abyssinia and Canada, to all of whom the author’s best thanks are conveyed.
READ THE FULL BOOK BELOW
Please Activate the Full Screen Mode for Better Viewing Pleasure (2nd button from the left)
LINK
EMBED
Related posts:
- Guttag’s Foreign Currency and Exchange Guide PREFACE Since the World War 1914-1918 a greater interest generally...
- An Inquiry into the Currency Principle: The Connection of the Currency with Prices and the Expediency of A Separation of Issue From Banking PREFACE BY THE AUTHOR SOME part of the following pages...
- Elements of Foreign Exchange – a Foreign Exchange Primer WHAT FOREIGN EXCHANGE IS AND WHAT BRINGS IT INTO EXISTENCE...
- Domestic and Foreign Exchange PREFACE There is nothing mysterious or difficult about foreign exchange...
- Banking And Currency Reform Hearings Before The Subcommittee Of The Committee On Banking And Currency LINK http://bikibook.com/books/banking-and-currency-reform-hearings-before-the-subcommittee/ EMBED...
Store Fleet