The Variation In The Value Of Money,

The Wheat Bought By A Farmer To Sow Is Comparatively A Fixed Capital To The Wheat Purchased By A Baker To Make Into Loaves.

A Rise In Wages, From An Alteration In The Value Of Money, Produces A General Effect On Price, And For That Reason It Produces No Real Effect Whatever On Profits.

Again Two Manufacturers May Employ The Same Amount Of Fixed, And The Same Amount Of Circulating Capital; But The Durability Of Their Fixed Capitals May Be Very Unequal.

Whether A Bank Lent One Million, Ten Million, Or A Hundred Millions, They Would Not Permanently Alter The Market Rate Of Interest; They Would Alter Only The Value Of The Money They Issued.

Gold And Silver Are No Doubt Subject To Fluctuations, From The Discovery Of New And More Abundant Mines; But Such Discoveries Are Rare, And Their Effects, Though Powerful, Are Limited To Periods Of Comparatively Short Duration.