A Treatise on Money and Essays on Monetary Problems
by Joseph Shield Nicholson (9781443274814)

Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. Excerpt from book: Section 3CHAPTER I DIFFICULTIES IN THE STUDY AND 1'KACTICAL IMPORTANCE OF THE SUBJECT 1. textit{The difficulty of getting clear ideas.?It seems desirable at the outset to warn the reader that, although this treatise on the principles of monetary science is intended to be elementary and introductory, the subject is in its nature difficult, and, in spite of its having been treated by many writers celebrated for their clearness of thought and distinctness of language, has not yet received a form which can be considered easy reading. The difficulties presented are of two kinds. In textit{the first place, there is the difficulty of getting clear ideas and attaching accurate and definite meanings to the words employed. People are apt to imagine that because they are familiar with the use of the words money, pound sterling, exchange, bank-note, etc., they are equally familiar with the things and processes and ideas which the words stand for. As a consequence, they do not think it necessary to strainthe attention and couple what seems easy reading with hard thinking, and, according to the degree of their self-esteem, they come to the conclusion either that the subject is one which no one can understand with any amount of reading, or one which every one can understand without any reading at all. 2. textit{The difficulty due to the complexity of facts.? The textit{second difficulty inherent in the subject depends upon matters of fact, and the need for statistics and experience to give body to the abstract ideas and general propositions of the theory. Even the most zealous student is apt to become bewildered when he finds authorities of equal standing opposed to one another on problems of great practical urgency, and feels inclined to conclude that there are no settled principles in the whole subject. This conf...

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