The Australian and Californian Gold Discoveries: And Their Probable Consequences; Or, An Inquiry Into the Laws which Determine the Value and Distribution of the Precious Metals: with Historical Notices of the Effects of the American Mines on European Prices in the Sixteenth, Seventeenth, and Eighteenth Centuries. In a Series of LettersOliver & Boyd, 1853 - 279 ページ Letter xviii discusses the Australian gold fields and the economic consequences of the mining of gold in Australia Includes bibliographical references. |
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100 quarters a-week a-year abundant Adam Smith American mines amount of labour Australia average Ballarat Bank of England Bendigo bullion California cause cent chap circulation coin colony commodities consequence corn cost of production diggings diminished Edition effect efficiency elevation of prices England English enhancement of prices equal estimated exchange exported fall Fcap gold and silver Henry VIII Huancavelica Humboldt hundredweight increased less LETTER materials of money measure of value Melbourne Mexico modities money price money value Mount Alexander ounce of gold ounces of silver period Political Economy Potosi pound weight precious metals present price of gold price of labour price of wheat principle profits proportion quarters of wheat quartz rate of interest reduced reign relative value rise of prices seignorage standard of money supply of silver suppose things tion tons of iron value of gold value of money Wealth of Nations yards of cloth
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64 ページ - ... manufactures at the same price, which to us would afford sufficient profit? In how little time, therefore, must this bring back the money which we had lost, and raise us to the level of all the neighbouring nations! Where, after we have arrived, we immediately lose the advantage of the cheapness of labour and commodities; and the farther flowing in of money is stopped by our fulness and repletion.
5 ページ - THE AUSTRALIAN AND CALIFORNIAN GOLD DISCOVERIES and their PROBABLE CONSEQUENCES; or, an Inquiry into the Laws which determine the Value and Distribution of the Precious Metals : With Historical Notices of the Effects of the American Mines on European Prices in the Sixteenth, Seventeenth, and Eighteenth Centuries.
217 ページ - It may be considered, therefore, as established, that when two countries trade together in two commodities, the exchange value of these commodities relatively to each other will adjust itself to the inclinations and circumstances of the consumers on both sides...
62 ページ - The natural price, therefore, is, as it were, the central price, to which the prices of all commodities are continually gravitating.
113 ページ - He had walk for a hundred sheep; and my mother milked thirty kine. He was able, and did find the king a harness, with himself and his horse, while he came to the place that he should receive the king's wages. I can remember that I buckled his harness when he went unto Blackheath field.
63 ページ - Must not the price of all labour and commodities sink in proportion, and every thing be sold as cheap as they were in those ages ? What nation could then dispute with us in any foreign market, or pretend to navigate or to sell manufactures at the same price, which to us would afford sufficient profit...