Money and Trade Considered Author:John Law From Content: There are several Proposals offer'd to Remedy the Difficulties the Nation is under from the great Scarcity of Money. That a right Judgment may be made, which will be most Safe, Advantageous and Practicable; It seems Necessary, 1. That the Nature of Money be inquired into, and why Silver was us'd as Money preferable to other Goods.... more » 2. That Trade be considered, and how far Money affects Trade. 2. That the Measures have been us'd for preserving and Increasing Money, and these now propos'd be examin'd. How Goods are valued. Of Barter, of silver; Its Value as a Mettal, its Qualities fitting it for Money, and the Additional Value it received from being us'd as Money. Goods have a Value from the Uses they are apply'd to; And their Value is Greater or Lesser, not so much from their more or less valuable, or necessary Uses: As from the greater or lesser Quantity of them in proportion to the Demand for them. Example. Water is of great use, yet of little Value; Because the Quantity of Water is much greater than the Demand for it. Diamonds are of little use, yet of great Value, because the Demand for Diamonds is much greater, than the Quantity of them. Goods of the same kind differ in Value, from any difference in their Quality. (Ex.) One Horse is better than another Horse. Barley of one Country is better than Barley of another Country. Goods change their Value, from any Change in their quantity, or in the Demand for them. (Ex.) If Oats be in greater Quantity than last year, and the Demand the same, or lesser, Oats will be less valuable. Mr Lock sayes, The Value of Goods is according to their Quantity in Proportion to their Vent. The Vent of Goods cannot be greater than the Quantity, but the Demand may be greater: (Ex.) If the Quantity of Wine brought from France be a 100 Tunn, and the Demand be for 500 Tunn, the Demand is greater than the Vent; and the 100 Tunn will sell at a higher Price, than if the Demand were only equal to the Vent. So the Prices of Goods are not according to the Quantity in Proportion to the Vent, but in Proportion to the Demand."« less
ISBN-13: 9780678001875 ISBN-10: 0678001871 Pages:126 Edition:New issue of 1705 ed Rating: