i«? 



ESSAY ON MONEY. 



By J. E. McCULLOCH, Esq. 



AfJTHOa QF "THB mcnONART OF COMilEaCfi," "PRIKCXPLBB OF FOLITICAL ECOSOMT," &a 



J 



whole of this Essay will be contained in the Bankers^ Magazine-fof IS 



Published montJdv, five dollars per annum.) 



CONTENTS. 



( 



CHAPTER L 



Origin of Monet. 



ircumstances 



used as such ought to possess 



Principal 



Not a sign or a measure of value, but a real equivalent. 

 On the commodities used as money in different countries 

 On the defects of these commodities. 



and 



shape of bars and ingots. 



On the coinage of gold and silver. 



Advantages of coined money. 

 ure, of value. 



sign, ox a meas- 



standai^ 



commc^ties 



an abstract 



standard 



CHAPTER IL— The Exchangeable Value of Money. 



i cost of production regulates the value of money, when the power 



of supply is not monopolized. 



money, when the power of supply is monopolized. 



gulates 



V _ -jh ^ L 



- 



