CHAPTER 3. Nature, Use and Coinage of Money

NATURE, USE AND COINAGE OF MONEY

REFERENCES.

Jevons, W. S., Money and the mechanism of exchange. 1875. Chs. III-VII, XIII.

*Johnson, J. F., Money and currency. 1905. Chs. I, II, IX.

*Phillips, C. A. (Ed.), Readings in money and banking. 1916. Chs. I-III, XIV.

Walker, F. A., Money in its relations to trade and industry. 1st ed. 1879. Chs. I, II.

White, Horace, Money and banking illustrated by American history. Ed. 1914. Bk. I.

QUESTIONS.

1. What are the qualities of metallic money?

2. What is the difficulty in deciding whether to call the following money: gold ingots, gold coin, silver dollars, copper cents, greenbacks, bank-checks, chalk-marks to keep account?

3. Who makes coins? Would jewelers make better ones?

4. What are the advantages and disadvantages of a seigniorage tax?