Outlines of economics by Chicago. University. Dept. of political economy

Author:Chicago. University. Dept. of political economy. [from old catalog]
Language: eng
Format: epub, pdf
Tags: Economics
Publisher: Chicago, Ill., The University of Chicago press
Published: 1910-03-25T05:00:00+00:00

8. In Question 4 above, if silver displaced all the gold in circulation, would there then be bimetaUism in fact?

9. "Bimetallism is absurd. It would result first in gold mono-metaUism, then in silver monometaUism, and so on." What does this mean ?

10. Is the demand for gold and silver homogeneous—i.e., is it an interchangeable demand ? Are the conditions of supply homogeneous ?

11. Is Gresham's Law likely to come into operation under a bimetallic standard? If so, under what circumstances?

12. At the time of Bryan's free-silver campaign some favored a coinage ratio of 32 to i instead of 16 to i. What was the reason for this ? If you had had to decide between the two, which ratio would you have chosen ?

13. In 1856 France had bimetallism with a coinage ratio of 15.5 to I. The market ratio was about 15.3 to i. Which metal w^as the cheaper or overvalued metal?—T.

14. If the United States were now to adopt bimetaUism at the ratio of 16 to i what changes would take place in the circulating medium of the country?

15. If the United States had free coinage at 16 to i and the market ratio of gold and silver were 12 to i, what would be the effect on the circulating medium of the country?

16. Does the principle of substitution of goods have any bearing on the value of metals under bimetallism ?

17. Is there anything in the nature of mim.ng that keeps the ratio of the supply of gold and silver nearly uniform ? What light does the history of the output of these metals during the nineteenth century throw on this point ?

18. Is a bimetallic standard likely to be more stable than a mono-metalHc standard ?

19. Would the adoption of bimetallism by all civilized countries (international bimetallism) result in a more stable standard than its adoption by the United States alone ?

20. Is there more or less reason for the adoption of bimetallism by the United States now than there was about 1893 ?

21. Draw up a chronology of the monetary history of this country.

22. We had bimetallism from 1792 to 1873. Yet far more silver dollars were coined from 1878 to 1893 than w^ere coined in the earlier period. Explain.

23. From 1792 to 1834 our coining ratio was 15 to i and the market ratio was nearer 15.5 to i. What metal tended to go to the mint? Why were no silver dollars coined from 1805 to 1836 ?

24. From 1834 to i860 our coining ratio was 16 to i and the market ratio was nearer 15.5 to i. What metal tended to go to the mint ?

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