David Ricardo Quotes About Gold

Quotes about: Gold

• Gold and silver, like other commodities, have an intrinsic value, which is not arbitrary, but is dependent on their scarcity, the quantity of labour bestowed in procuring them, and the value of the capital employed in the mines which produce them.

  David Ricardo

  Gold, Arbitrary, Scarcity

  David Ricardo, John Ramsay McCulloch (1846). “The Works of David Ricardo ...”, p.263

• Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.

  David Ricardo

  Air, Water, Gold

  David Ricardo (1821). “On the Principles of Political Economy, and Taxation”, p.2

• Gold and silver are no doubt subject to fluctuations, from the discovery of new and more abundant mines; but such discoveries are rare, and their effects, though powerful, are limited to periods of comparatively short duration.

  David Ricardo

  Powerful, Discovery, Doubt

  David Ricardo, John Ramsay McCulloch (1846). “The Works of David Ricardo ...”, p.11

• It has therefore been justly observed that however honestly the coin of a country may conform to its standard, money made of gold and silver is still liable to fluctuations in value, not only to accidental, and temporary, but to permanent and natural variations, in the same manner as other commodities.

  David Ricardo

  Country, Gold, Variation

  David Ricardo, John Ramsay McCulloch (1846). “The Works of David Ricardo ...”, p.46

• Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

  David Ricardo

  Issues, Gold, Purpose

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