Excerpt from On Fluctuations in the Supply and Value of Money, and the Banking System of EnglandIt results from these principles, that convertibility into gold and silver, at the pleasure of the holder, is not necessary to give value to paper money: And that, if perfect security could be obtained, that the power of issuing it would not be abused, or that it would always be issued in such quantities as would render a one pound note uniformly equivalent to the quantity of standard gold bullion contained in a sovereign, the precious metals might be entirely dispensed with as a. Medium of=bar ter, or used only to serve as small change.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition.

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