An Inquiry Into the Nature of Value and of Capital and Into the Operation of Government Loans, Banking Institutions, and Private Credit (Classic Reprint)

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Excerpt from An Inquiry Into the Nature of Value and of Capital: And Into the Operation of Government Loans, Banking Institutions, and Private CreditA National Debt is paid off, not by the introduction of any new capital, but by an extinction of capital, equal to the sum paid off, The possessions of each individual will be diminished to an amount equal to his tax.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis 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.