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ritter@epilin.com
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Gold and Silver as Standards of Value

- Lysander Spooner -

If gold is not money, and all the different uses of working gold coins into plate, jewelry etc., the total demand for gold is X. At that demand level the price of gold is Y. If gold is made money there is another use, which would increase the demand to X+1. Additional demand increases the price of anything, but Spooner seems to insist that it does not.

Commented 3472 days ago

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Beginning of the headline :All the usurpation, and tyranny, and extortion, and robbery, and fraud, that are involved in the monopoly of money are practised, and attempted to be justified, under the pretence of maintaining the standard of value. This pretence is intrinsically a false one throughout. And the whole motive for it is to afford some color of justification for such a monopoly of money as will enable the few holders of gold and silver coins (or of such other money as may be specially licensed and substituted for them) to extort, in exchange for them, more of other men’s property than the coins (or their substitutes) are naturally and truly worth. That such is the fact, it is the purpose of this article to prove... Read More

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