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The Regulating Silver Coin, Made Practicable and Easie, to the Government and Subject cover

The Regulating Silver Coin, Made Practicable and Easie, to the Government and Subject

Chapter 3: DEFINITIONS.
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About This Book

The pamphlet analyzes causes and consequences of the debasement and scarcity of silver coin, defines key terms of intrinsic, extrinsic, and real value, and examines importation, alteration, export, melting by artisans, and hoarding. Addressing Parliament and using mathematical reasoning, it diagnoses threats to credit, trade, and national reputation, warns of counterfeiting and loss of confidence, and proposes a practical scheme to regulate coinage that seeks to prevent both undervaluation and export. It closes by outlining anticipated advantages and conveniences from the proposed reforms.

DEFINITIONS.

Extrinsic Value of Money is the Denomination and Power, that is given it by Authority.

Intrinsic Value is the necessary and Natural Value, always and every where inherent in the Species.

Real Value is a Certain Value more or less than Extrinsic, or Intrinsic, adherent to the Species, with respect to time and place.

TWO things are now under Consideration. 1. The Badness of our Silver Coin.

2. The Scarcity of it.