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    The Paper Moneys of Europe Their Moral and Economic Significance
    The Paper Moneys of Europe Their Moral and Economic Significance
    The Paper Moneys of Europe Their Moral and Economic Significance
    Ebook55 pages35 minutes

    The Paper Moneys of Europe Their Moral and Economic Significance

    By Francis Wrigley Hirst

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    LanguageEnglish
    PublisherArchive Classics
    Release dateNov 25, 2013
    The Paper Moneys of Europe Their Moral and Economic Significance

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      Book preview

      The Paper Moneys of Europe Their Moral and Economic Significance - Francis Wrigley Hirst

      Project Gutenberg's The Paper Moneys of Europe, by Francis W. Hirst

      This eBook is for the use of anyone anywhere at no cost and with

      almost no restrictions whatsoever. You may copy it, give it away or

      re-use it under the terms of the Project Gutenberg License included

      with this eBook or online at www.gutenberg.net

      Title: The Paper Moneys of Europe

      Their Moral and Economic Significance

      Author: Francis W. Hirst

      Release Date: July 23, 2009 [EBook #29499]

      Language: English

      *** START OF THIS PROJECT GUTENBERG EBOOK THE PAPER MONEYS OF EUROPE ***

      Produced by The Online Distributed Proofreading Team at

      http://www.pgdp.net (This file was produced from images

      generously made available by The Internet Archive/American

      Libraries.)

      THE PAPER MONEYS

      OF EUROPE

      THEIR MORAL AND ECONOMIC

      SIGNIFICANCE

      By

      FRANCIS W. HIRST

      BOSTON AND NEW YORK

      HOUGHTON MIFFLIN COMPANY

      The Riverside Press Cambridge

      1922

      COPYRIGHT, 1922, BY THE REGENTS OF THE

      UNIVERSITY OF CALIFORNIA

      ALL RIGHTS RESERVED

      The Riverside Press

      CAMBRIDGE · MASSACHUSETTS

      PRINTED IN THE U.S.A.

      BARBARA WEINSTOCK

      LECTURES ON THE MORALS OF TRADE

      This series will contain essays by representative scholars and men of affairs dealing with the various phases of the moral law in its bearing on business life under the new economic order, first delivered at the University of California on the Weinstock foundation.

      THE PAPER MONEYS OF EUROPE

      THEIR MORAL AND ECONOMIC SIGNIFICANCE

      No more severe reflection could be passed upon the moral and political capacity of the human species than this: Five thousand years after the invention of writing, three thousand after the invention of money, and (nearly) five hundred since the invention of printing, governments all over the world are employing the third invention for the purpose of debasing the second; thereby robbing millions of innocent individuals of their property on a scale so extensive that previous public confiscations of private property through the adulteration of money—in ancient Rome, in Ireland under James the Second, in Prussia during the Seven Years' War, in the American colonies and the United States, in Portugal, in Greece, in various republics of Central and South America, even the assignats of the French Revolution—seem pigmy frauds in comparison with the present vast inundation of counterfeit paper money.

      In these times, when so much attention is given to what I may call the prehistoric history of mankind, it would ill become me, a mere adventurer in anthropology, to discuss the origin of money or to attempt an explanation of the curious fact that the art of coining money was invented and perfected a thousand years before the art of printing. The coins struck by the best cities of ancient Greece are a model and a reproach to our modern mints; and being for the most part of good silver, they fulfilled the two main functions of currency—as a measure of value and a medium of exchange.

      Silver was well adapted for the purposes of currency by its ductility, durability, divisibility, portability,

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