Excerpt from Monetary Reform for Nicaragua: Report Presenting a Plan of Monetary Reform for Nicaragua

It will be noticed that for the last two years (1910 and 1911) no figures have been given in the table for the average rate of exchange. During these years of in¿ated and irregular issues and revolutionary disturb auces, no instructive average can be struck, and the facts require separate treatment. With this exception the ¿ue tuation in the exchanges verifies in an interesting manner several of the principles of money - primarily demon strating that a country will absorb only so much cur reney as it has need for at a given gold valuation. This is Shown by the fact that the increase in the issue of paper was accompanied in Nicaragua by an almost cor responding fall in the gold value of the unit, leaving the gold value of the total circulation substantially unaltered. The following table, illustrating this, gives the selling rate for American gold in Nicaraguan paper for the nine years ending with 1909.

About the Publisher

Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com

This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.