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Ricardo on bimetallism

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Published : November 16th, 2011
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Category : Editorials





"Whilst each of the two metals was equally a legal tender for debts of any amount, we were subject to a constant change in the principal standard measure of value. It would sometimes be gold, sometimes silver, depending entirely on the variations in the relative value of the two metals; and, at such times, the metal which was not the standard would be melted and withdrawn from circulation, as its value would be greater in bullion than in coin."


Ricardo



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huh? Please interpret for dummies like me.
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huh? Please interpret for dummies like me. Read more
M. - 11/28/2011 at 6:00 PM GMT
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