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CHAPTER X. Of a Double Standard, and Subsidiary Coins.
§ 1. Objections to a double standard
2. The use of the two metals as money, how obtained without
CHAPTER XI. Of Credit, as a Substitute for Money.
§ 1. Credit not a creation but a transfer of the
2. In what manner it assists production
3. Function of credit in economizing the use of money
5. Bills of exchange..........
5. Promissory notes...
6. Deposits and cheques.
CHAPTER XII. Influence of Credit on Prices.
§ 1. The influence of bank notes, bills, and cheques, on price, a part
2. Credit a purchasing power similar to money..
3. Effects of great extensions and contractions of credit. Pheno-
4. Bills a more powerful instrument for acting on prices than book
6. Cheques an instrument for acting on prices, equally powerful
7. No generic distinction between bank notes and other forms of
CHAPTER XIII. Of an Inconvertible Paper Currency.
§ 1. The value of an inconvertible paper, depending on its quantity,
2. If regulated by the price of bullion, an inconvertible currency
3. Examination of the doctrine that an inconvertible currency is
- of the doctrine that a convertible currency does not expand
5. - of the doctrine that an increase of the currency promotes
6. Depreciation of currency a tax on the community, and a
7. Examination of some pleas for committing this fraud
CHAPTER XIV. Of Excess of Supply.
§ 1. Can there be an oversupply of commodities generally?............
3. never does exceed the inclination to consume
4. Origin and explanation of the notion of general oversupply
CHAPTER XV. Of a Measure of Value.
§ 1. A Measure of Exchange Value, in what sense possible
CHAPTER XVI. Of some Peculiar Cases of Value.
§ 1. Values of commodities which have a joint cost of production... 106
CHAPTER XVII. Of International Trade.
§ 1. Cost of Production not the regulator of international values... 112
3. The direct benefits of commerce consist in increased efficiency
4. not in a vent for exports, nor in the gains of merchants...... 117
CHAPTER XVIII. Of International Values.
§ 1. The values of imported commodities depend on the terms of
which depend on the Equation of International Demand ...
3. Influence of cost of carriage on international values..........
5. Effect of improvements in production, on international values
CHAPTER XIX. Of Money, considered as an
§ 1. Money imported in two modes; as a commodity, and as a
2. As a commodity, it obeys the same laws of value as other im-
3. Its value does not depend exclusively on its cost of production
CHAPTER XX. Of the Foreign Exchanges.
§ 1. Purposes for which money passes from country to country as
2. Mode of adjusting international payments through the ex-
3. Distinction between variations in the exchanges which are self-
CHAPTER XXI. Of the Distribution of the Precious Metals
§ 1. The substitution of money for barter makes no difference in
2. The preceding theorem further illustrated.......
3. The precious metals as money, are of the same value, and dis-
4. International payments not of a commercial character............ 168
CHAPTER XXII. Influence of Currency on the Exchanges
§ 1. Variations in the exchange, which originate in the currency...
CHAPTER XXIII. Of the Rate of Interest.
§ 1. The rate of interest depends on the demand and supply of
2. Circumstances which determine the permanent demand and
3. Circumstances which determine the fluctuations
4. The rate of interest not really connected with the value of
5. The rate of interest determines the price of land and of secu-
CHAPTER XXIV. Of the Regulation of a Convertible
§ 1. Two contrary theories respecting the influence of bank issues 192
3. Reasons for thinking that the Currency Act of 1844 produces
a part of the beneficial effect intended by it
but produces mischiefs more than equivalent
6. Should the holders of notes be protected in any peculiar
CHAPTER XXV. Of the Competition of different
§ 1. Causes which enable one country to undersell another
when peculiar to certain branches of industry
4. but not when common to all............
5. Some anomalous cases of trading communities examined
CHAPTER XXVI. Of Distribution, as affected by
§ 1. Exchange and Money make no difference in the law of wages 233
INFLUENCE OF THE PROGRESS OF SOCIETY ON
CHAPTER I. General Characteristics of a Progressive
State of Wealth.
§ 1. Introductory Remarks ........
2. Tendency of the progress of society towards increased command
CHAPTER II. Influence of the Progress of Industry and
§ 1. Tendency to a decline of the value and cost of production of
2. except the products of agriculture and mining, which have
that tendency from time to time counteracted by improve-
4. Effect of the progress of society in moderating fluctuations of
5. Examination of the influence of speculators, and in particular