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The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)
The "What is Money?" Show
How Does Sudden Loans Affect the Value of Money?
A rise of prices confined to one country tends to increase imports, because other countries can obtain more for their goods if they send them there. And it discourages exports as a merchant who would have gained a profit before the rise by buying here in england will not gain so much, if any, profit from that rise. By this augmentation of imports, the indebtedness of this country is augmented. The store in the bank, or banks keeping the reserve is diminished, and the rate of interest must be raised by them to stay the efflux. In consequence, an the rall come together. This is a larg there is a larger balance to be paid in bullion. It's just
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