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To the end of great German inflation when it has been recognised that the law of Greshema

It is erroneous. But it is incorrect. Actually it is not erroneous. Simply this law

Takes place only in that case when between various kinds of money it is established

The fixed exchange rate.

The chapter VII. The limited historical experience with use of parallel currencies

And trading coins (trade coins)

Parallel currencies Trading coins

At the time of when coins from precious metals remained the only thing

The real and standard kind of money, and while all close substitutes of money

Were subject, at least, to exchange on them , unique Gold and silver coins were versions of co-existing kinds of money. All set of coins with which it was necessary to deal it former times, It was reduced, finally, to these two versions, and their relative Value within each group was defined by the maintenance of one or others Metal (which the expert, but not the ordinary person could define). The majority of governors in a legislative order tried to establish The fixed exchange rate between gold and silver coins, creating

As, despite very early offers on fixing of this course

By means of system of the international contracts
- (G. Scaruffi, Social Statics (1850), Abridged and Rev. Edition,

Williams &Norgate, London, 1902)>, the governments nevertheless established the different

The exchange rates, each country went to loss of all coins from this metal, which

It has underestimated concerning courses of other countries. As a result this system

Has been subsequently more correctly named by system of the alternative standard,

As value of currency in it depended on the metal, which value in Given time has been overestimated. Shortly before in second half XIX Centuries, at last, have rejected this system, last attempt has been made

To establish the uniform international exchange rate of gold to silver equal 1:15,5.

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Free 3D Social Icons Free 3D Social Icons is a free icon collection specially designed for websites and applications dealing with all sorts of social networks. The pack contains images for various communication technologies and web-sites.

Free Large Business Icons Free Large Business Icons represent a free icon pack perfectly suited for websites and programs dealing with all sorts of business activities. The icon set is ready for instant and absolutely free download.

Multimedia Icons for Vista Enhance your multimedia project for High Definition displays with pre-made Multimedia Icons for Vista. This collection will lower your project costs and quicken development.

Medical Icons for Vista Medical Icons for Vista has been created to avoid any misunderstanding arising while viewing a medical webpage or operating a medical software. The images are provided in various sizes and formats.

Space Icons Develop scientific or space-related software with instantly available images. Space Icons pack includes more than 60 icons focusing on astronomy, such as Spacesuit, Astronaut, Sun and all planets of the solar system.