C

PRINCIPLES

OF

POLITICAL ECONOMY

WITH

SOME OF THEIR APPLICATIONS TO SOCIAL PHILOSOPHY.

BY

JOHN STUART MILL.

IN TWO VOLUMES.

VOL. II.

FOURTH EDITION.

LONDON:

JOHN W. PARKER AND SON, WEST STRAND.

M.DCCC.LVII.

CONTENTS

OF

THE SECOND VOLUME.

BOOK III.

EXCHANGE.-(Continued.)

CHAPTER VII. Of Money.

§1. PURPOSES of a Circulating Medium

2. Gold and Silver, why fitted for those purposes

3. Money a mere contrivance for facilitating exchanges, which

does not affect the laws of Value

CHAPTER VIII. Of the Value of Money, as dependent on

Demand and Supply.

§ 1. Value of Money, an ambiguous expression.

11

2. The value of money depends, cæteris paribus, on its quantity 12

- together with the rapidity of circulation.

3.

17

-

4. Explanations and limitations of this principle

19

§ 1. The value of money, in a state of freedom, conforms to the

value of the bullion contained in it..

CHAPTER IX. Of the Value of Money, as dependent on

Cost of Production.

Page

3

5

2. — which is determined by the cost of production.

3. This law, how related to the principle laid down in the pre-

ceding chapter

8