Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1921 edition. Excerpt: ... APPENDIX Tables Page 1. Continental Bills of Credit. Issues 67 2. Continental Bills of Credit. Depreciation 68 3. Issues of Revolutionary Paper Money by the States . . 69 4. France. Issues of Banknotes under Law 70 5. France. The Assignats. Circulation 71 6. France. The Assignats. Depreciation 71 7. Great Britain. The Bank Restriction 72 8. Great Britain. The Public Debt 73 9. France. The Public Debt 74 10. United States. Depreciation of Greenbacks 75 11. United States. Price Changes under the Greenback Standard 76 12. Italy. Public Debt and Gold Premium 77 13. Russia. Paper Money. 1788-1817 78 14. Russia. Paper Money. 1844-1897 79 15. Austria. Depreciation of Paper Issues. 1796-1817 . . 80 16. Austria. Depreciation of Paper Issues. 1848-1892 . . 81 17. Spain. Depreciation of Paper Currency. 1883-1910 . 82 18. Price Fluctuations of a Century 83 Bibliography 84 Currency inflation and public debts form a vexing problem which has called forth the liveliest discussion not only in the ranks of economists, but also among business people who find in the fluctuations of the foreign exchanges a constant reminder of the financial difficulties which confront the world. In asking Dr. Seligman to prepare for our enlightenment an historical sketch of currency inflation and public debts, we believed that a study of the past might well help us to understand better present-day conditions. Dr. Seligman's timely paper and his conclusions drawn from the lessons of history have encouraged us to present here, under the guise of a prefatory note, a few observations. 1. As is clearly pointed out, there is no such thing as a medium of exchange, money or currency which is not subject to fluctuations in value; gold, silver, copper, all fluctuate. Fiat mon