On the Probable Fall in the Value of Gold: the Commercial and Social Consequences Which May Ensue, and the Measures Which it Invites

Michel Chevalier

ISBN 10: 0371710316 / ISBN 13: 9780371710319

Published by HardPress Ltd, 2021

About this Item

New copy - Usually dispatched within 4 working days.

Seller Inventory # B9780371710319

Bibliographic Details

• Title: On the Probable Fall in the Value of Gold: the Commercial and Social Consequences Which May Ensue, and the Measures Which it Invites
• Publisher: HardPress Ltd
• Publication Date: 2021
• Language: English
• ISBN 10: 0371710316
• ISBN 13: 9780371710319
• Binding: Paperback / softback
• Condition: New
• Weight: 526 grams

About this title

Synopsis

On The Probable Fall In The Value Of Gold: The Commercial And Social Consequences Which May Ensue, And The Measures Which It Invites by Michel Chevalier. This work, translated from the French by Richard Cobden, surveys the recent surge in gold production from new mines (California, Australia, Siberia) and its likely effect on the value of gold and on monetary relations that use gold or silver as standards. It explains the distinction between value and price for money, the concept of a monetary standard, and how a rapid increase in gold could lead to a general rise in prices, wage adjustments, and shifting burdens across society. The author analyzes potential outlets for the surplus gold, including currency expansion, trade, luxury consumption, and housing, and then assesses measures to avert or mitigate a fall in gold’s value. It also reviews the French monetary framework and the possible roles of silver, a dual circulation, and policy options such as recoinage or stabilising arrangements. The work closes by outlining the social and political transitions a country might face during such a monetary shift and the ethical considerations involved.