(DOWNLOAD) "Argument 401: if a Higher Price Than the One Set by the Law May Licitly Be Received for the Coins to Which the Public Authority Assigned a Particular Value at the Moment of Coinage?(Treatise on Money) (Excerpt)" by Journal of Markets & Morality ~ Book PDF Kindle ePub Free
eBook details
- Title: Argument 401: if a Higher Price Than the One Set by the Law May Licitly Be Received for the Coins to Which the Public Authority Assigned a Particular Value at the Moment of Coinage?(Treatise on Money) (Excerpt)
- Author : Journal of Markets & Morality
- Release Date : January 22, 2005
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 293 KB
Description
What was analyzed in the previous argument shall illustrate what we now go on to say. Pay heed to the existence of a custom, accepted in some provinces such as Flanders and Italy, by which the common price set by the law is not considered so rigid that it may not fluctuate according to the greater or lesser abundance of [coins] or the amount of people who desire them, as happens with the price of goods that are not appraised by the law. Thus, for example, they tell me that in Rome, even if the common value of the gold escudo is 12 1/2 julios, that value suddenly increases in copper coins, even twice a month, diminishing later. And the more or less abundance of these copper coins depends on the scarcity or demand of the escudos, as well as on other circumstances. Wherever this custom exists, there is no doubt that it shall be licit to receive this extra charge. The difficulty seems to present itself in those places where the price of currency is set by the public authority by law in order to keep it inalterable, such as happened in the Spanish territories and in other provinces, where they used to appraise their own coins. However, even in that case it must be said that for reason of profit ceasing, sometimes it is licit to receive something more than the legal price for the coins, taking into account the estimation of that profit's amount. For example, if a person had set money apart to take to another place where it was worth more, or to use it to buy merchandise in a place where the coins of his place of residency could not be bought, or only by losing a part of their value, this person may, when exchanging his coins for others, collect the amount in which he estimates the profit ceasing. This is Juan de Medina's (1) opinion, among that of others.
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