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By Charles Rist

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Extra info for History of Monetary and Credit Theory

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1 100. " 1. (Daire, p. ~:;~;l~:h:~:~ti~;~~I~~O:dmt~c ~per~ . ~. mY:eh-mere-dteaply~ ... ' "That is my chief contention. Gold and sHyer are of course commodities like any other The part of tb@m1::1Seelf01111oneY hasalway /' ~~n affected by this use, and goldsmiths have always been forbidde . 1Ve~nd'Hse#,thenri1· a this part J as een withdrawn from ordinary commerce' by a lay: f01 wl~h there "'We're reasons under the old government, but which is a disadvantage in itse . exchange tokens: would It nofi5e"mere ~mmodious if th~e .

It is a most dangerous phrase, which was to be taken up by Smith and Ricardo. 2 Law, loe. ,p. 60. , p. 39. 56 Confusion between Credit and Money J n01:es-ha(l~easedbeyend the capacity e~c to absorb ~ 1< them, he sim I advised forced cu~renc and ~om ulsor acee ance. the arguments produced SInce that tIme by the avowed or , '~-"avowed a~vocates of forced paper currency, all the. sophi3iilS by"-"",'''''''''d , <\\r °clLthex attempt to"'crrssuaae a puhltc whom ~aracterise ,/(j•. vfqur eo uence and indeed a note of sincerity which "-.

1Ve~nd'Hse#,thenri1· a this part J as een withdrawn from ordinary commerce' by a lay: f01 wl~h there "'We're reasons under the old government, but which is a disadvantage in itse . exchange tokens: would It nofi5e"mere ~mmodious if th~e . were given Qyer to their lIaturaI Ulie, and theexenange tokens made 9f---. ~~ .. s is t t there would ~~e any temptatlo~;~. " herr pr~l'~ . J-D-ose, Wbl_ '5 to Cir~ulat~ ---. -1:o ... ~~~e~ptation and uivert 11l600y from 1ts... E:~er dest1ny, wh1ch 1S to ~cul~te?

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