The Jeffersonian cyclopedia; a comprehensive collection of the views of Thomas Jefferson classified and arranged in alphabetical order under nine thousand titles relating to government, politics, law, education, political economy, finance, science, art, literature, religious freedom, morals, etc.; |
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5410. MONEY (Metallic) Gold and silver ratio.—[continued]. |
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5410. MONEY (Metallic) Gold and silver ratio.—[continued].
I observed * * *
that the true proportion or value between gold
and silver was a mercantile problem altogether
and that, perhaps, fifteen for one
might be found an eligible proportion. The
Financier [Robert Morris] is so good as to
inform me that this would be higher than the
market would justify. Confident of his better
information on this subject, I recede from
that idea. [337]
—
Supplementary Explanations. Washington ed. i, 171.
Ford ed., iii, 454.
(1784)
Jefferson appends this note: “In a newspaper,
which frequently gives good details in political
economy, I find under the Hamburg head, that the
present market price of gold and silver is, in England,
15.5 for 1; in Russia, 15; in Holland, 14.75; in
Savoy, 14.6; in France, 14.42; in Spain, 14.3; in Germany,
14.155; the average of which is 14.675 or 14 5-8.
I would still incline to give a little more than the
market price for gold, because of its superior convenience
in transportation.”—Editor.
| The Jeffersonian cyclopedia; | |