316 KANSAS CITY REVIEW OF SCIENCE, 
SPIRITUS MUNDI. 
E. R. KNOWLES. 
Stat ^therium infinitum 
Tempore et spatio, 
Et asterno per naturam 
Mundi instiratio. 
Totum in uno alligantem, 
Vim invictam mysticam, 
Et materiam regentem, 
Sentimus perpetuarn, 
MONEY : ITS ORIGIN AND HISTORY. 
H. A. HAGEN. 
All nations, on emerging from a state of barbarism, have adopted, without 
any mutual agreement, the precious metals, gold and silver, as a medium of 
exchange and standard of value. Certain pieces or coins, the definite fineness 
and weight of which are denoted by a familiar stamp, thereby became money. 
As a fixed measure of exchangeable value lies beyond the bounds of possibility, 
so that of the precious metals is subjected to variation. To ascertain the propor- 
tion in which the exchangeable value of money may have been altered is an 
inquiry of very difficult nature, demanding great sagacity, diligence and inform- 
ation. 
The changes of the value of gold and silver during five centuries from 1320 
to 1820 are the subject of the memoirs of two students of the late Prof. Carl 
Hagen. Both memoirs are still unpublished. As I am not able to find investi- 
gations of a similar extent, I have used the results. A large number of other 
details is taken from papers of my father. 
Two capitals of exactly the same amount — one in gold, the other in silver — 
are supposed to have been invested in 1400. The change of the valiie of the 
capitals was as follows : During the fifteenth century the gold rose at first 
quicker, later the silver followed, so that after seventy-five years both capitals 
had again an equal value. But against 100 per cent in 1400 they represented 
166 per cent in 1475. Both rose farther, and the capital in gold reached the 
highest point ever seen, viz: 175 per cent, shortly before the end of the century. 
During the sixteenth century, in consequence of precious metals imported 
to Europe after the discovery of America, the gold and the silver — the latter 
had reached its highest points in 15 to with 215 per cent — were declining in such 
