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Ricardo on bimetallism

IMG Auteur

Published : November 16th, 2011

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FOLLOW : Bimetallism Legal Tender

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"Whilst each of the two metals was equally a legal tender for debts of any amount, we were subject to a constant change in the principal standard measure of value. It would sometimes be gold, sometimes silver, depending entirely on the variations in the relative value of the two metals; and, at such times, the metal which was not the standard would be melted and withdrawn from circulation, as its value would be greater in bullion than in coin."

Ricardo

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