WILLIAM GOUGE, ADVISOR to PRESIDENT JACKSON, ON THE PRINCIPLES OF THE BANKING SYSTEM 1833. He argues that real money is that valuable by reference to which the value of other articles is estimated, and by the instrumentality of which it is circulated. That bills of exchange and promissory notes are a mere commercial medium, and are very useful. But they differ from metallic money in having no inherent value, and in being evidences of
WILLIAM GOUGE, ADVISOR to PRESIDENT JACKSON, ON THE PRINCIPLES OF THE BANKING SYSTEM 1833. He argues that real money is that valuable by reference to which the value of other articles is estimated, and by the instrumentality of which it is circulated. That bills of exchange and promissory notes are a mere commercial medium, and are very useful. But they differ from metallic money in having no inherent value, and in being evidences of
WILLIAM GOUGE, ADVISOR to PRESIDENT JACKSON, ON THE PRINCIPLES OF THE BANKING SYSTEM 1833. He argues that real money is that valuable by reference to which the value of other articles is estimated, and by the instrumentality of which it is circulated. That bills of exchange and promissory notes are a mere commercial medium, and are very useful. But they differ from metallic money in having no inherent value, and in being evidences of