when, rises above mint price, it proves the depreciation of the of gold, before and after recoinage of 1774 with currency paper, a rise of, above mint price proves i., 433 bill extinguished by includes acquired capacities as wealth sees the true nature of money. calls credit purchasing power classes transport as one species of production dogma on the issue of paper MINT PRICE meaning of, of gold and silver. of gold, fixed at £3 17s. 10d. in 1727 MIS-SPELLING does not avoid indorsement MISTAKE bill may be altered to correct a . cancelling indorsement by MISTAKE accepting or paying a bill under, of facts. MONEY VOL. PAGE ii., 535 called general credit by Burke represents the debts which arises from an unequal exchange metal the best substance for . i., 20 true nature of, seen by Aristotle, Baudeau, Smith, Thornton by Mill all mathematicians since Maclaurin say that debts are their explanation erroneous application of the theory of algebraical signs to Economics if the products which the land has produced in time past are a merchant who has earned profits in time past and has the he may trade with money which represents his past earnings, money and credit both purchasing power but inverse or opposite when he trades with credit an obligation is created. if money called positive capital, credit may be termed negative VOL. PAGE NEGATIVE QUANTITIES this obligation contains two quantities, the creditor's right to i., 166 if the right to demand is positive the duty to pay is negative . i., 166 i., 167 hence it is called merx, rex, bonum, “goods and chattels - £100 i., 168 when not i., 168 NEWTON Report on the coinage i., 419 NORMAN, Mr. G. W. on currency admits that the rate of discount is sufficient to control credit ii., 346 VOL. PAGE PANIC two theories of Bank's proper action in may be called the expansive and restrictive theories the restrictive theory has always failed the expansive theory has always succeeded PAPER CURRENCY true principle of controlling fallacy of basing a, on the discount of mercantile bills effect of inconvertible, on the exchanges test of the depreciation of must be a person capable of being ascertained at the time the if uncertain at that time instrument void. i., 205, 207; ii., 478 ii., 512 ii., 512 |