Items related to On the Probable Fall in the Value of Gold
Synopsis
This book argues that the discovery of new gold mines and their impact on economies where gold serves as the monetary standard has often been ignored, leading to severe economic problems. By examining the monetary and economic impact of the new gold mines in California and Australia in the mid-19th century, the author lays out the reasonable expectation that similar economic problems will follow the new gold rush of the 1850s. The author marshals evidence to suggest that the monetary effects of the new mines in California and Australia made themselves felt through general increases in prices—in other words, a rise in inflation—caused by a rapid devaluation of gold relative to all other commodities. While the author acknowledges that other factors may have contributed to the increase in prices, the author insists that the new gold mines were at the root of the 19th-century inflationary crisis. The author concludes that countries which had not yet adopted the gold standard would be well advised to delay their decision until the full impact of the new mines was known. Likewise, the author strongly advocates for nations that had adopted the gold standard to take legislative action to avoid the negative economic and social consequences of inflation caused by the rapid devaluation of gold.
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About the Author
1806-1879
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On the Probable Fall in the Value of Gold (Classic Reprint)
Print on DemandSeller: Forgotten Books, London, United Kingdom
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Paperback. Condition: New. Print on Demand. This book argues that the discovery of new gold mines and their impact on economies where gold serves as the monetary standard has often been ignored, leading to severe economic problems. By examining the monetary and economic impact of the new gold mines in California and Australia in the mid-19th century, the author lays out the reasonable expectation that similar economic problems will follow the new gold rush of the 1850s. The author marshals evidence to suggest that the monetary effects of the new mines in California and Australia made themselves felt through general increases in pricesā"in other words, a rise in inflationā"caused by a rapid devaluation of gold relative to all other commodities. While the author acknowledges that other factors may have contributed to the increase in prices, the author insists that the new gold mines were at the root of the 19th-century inflationary crisis. The author concludes that countries which had not yet adopted the gold standard would be well advised to delay their decision until the full impact of the new mines was known. Likewise, the author strongly advocates for nations that had adopted the gold standard to take legislative action to avoid the negative economic and social consequences of inflation caused by the rapid devaluation of gold. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781330835814_0
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On the Probable Fall in the Value of Gold The Commercial and Social Consequences Which May Ensue, and the Measures Which It Invites Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330835814
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On the Probable Fall in the Value of Gold The Commercial and Social Consequences Which May Ensue, and the Measures Which It Invites Classic Reprint
Seller: PBShop.store UK, Fairford, GLOS, United Kingdom
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781330835814
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