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The chapter VI. Mess round the law of Greshema
Misunderstanding of the so-called law of Greshema leads to belief that
The governmental monopoly is necessary because of tendency existence to
To replacement of good money by the bad. To prove this thesis,
Outstanding economist U.S.Dzhevons has expressed Zakon Greshema in very categorical
To the form: the best money not in a status to supersede the worst. However, he confirmed
It, minding to philosopher Herbert Spenseru who suggested to make stamping
Gold coins opened for a free competition when it was supposed
Only two kinds of various currencies - gold and silver coins. Probably,
On a mint it is, even less, than the majority of its contemporaries, accepted
Seriously possibility of existence of any other kind of money. But as though that
To entrust "any Heaton and Sons, or any another
To enterprising Birmingham firm to supply us it and shillings on
The fear and risk and for the sake of own profit like that... As we trust
To the grocer to supply us with tea packs, and to the baker - bread rolls "
Jevons, Money and the Mechanism of Exchange, Kegan Paul, London, 1875, the river 64,
About its objections to Herbert Spenseru Gasparo Scaruffi, Williams &Norgate, Social Statics (1850),
Abridged, Rev. Edition, London and 1902>, has resulted Dzhevonsa
To the categorical statement that, in its opinion, in general "there is nothing, less
Approaching for a competition, than money ".
It is possible for issue of banknotes of the general principle of protection of free business
To find in dated 1837 jobs it.it. It (after lord Overstouna)
the Bank of England, Hayek (later Lord Overstone), 1837, Further Reflections on the State of the
Currency and London, the river 49: "Usual advantages
Competition for a society consist that it raises an ingenuity and
Diligence of manufacturers, and, thus, provides the best supply
Societies the goods in due quantity and under the lowest price, while
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