“Gold and silver are constituted, by the nature of things, money, and universal money, independent of all convention, and of all laws.”

—  Anne Robert Jacques Turgot

§ 43
Reflections on the Formation and Distribution of Wealth (1766)

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Gold and silver are constituted, by the nature of things, money, and universal money, independent of all convention, an…" by Anne Robert Jacques Turgot?
Anne Robert Jacques Turgot photo
Anne Robert Jacques Turgot 12
French economist 1727–1781

Related quotes

“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”

Norm Franz
Murray N. Rothbard photo

“Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark. So it is a great boon that gold or silver are scarce and are costly to increase in supply.
But if government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

"Taking Money Back" http://mises.org/story/2882, in The Freeman (September - October 1995) http://www.fee.org/publications/the-freeman/.

Bernard Mandeville photo

“There is no Intrinsick Worth in Money but what is alterable with the Times, and whether a Guinea goes for Twenty Pounds or for a Shilling, it is … the Labour of the Poor, and not the high and low value that is set on Gold or Silver, which all the Comforts of Life must arise from.”

Bernard Mandeville book The Fable of the Bees

"An Essay on Charity, and Charity-Schools", p. 345
The Fable of the Bees (1714)

Johnny Depp photo

“Not all treasure is silver and gold, mate”

Johnny Depp (1963) American actor, film producer, and musician
Luís de Camões photo

“Now let the judging reader mark what rex
The idol gold (which all the world adoreth)
Plays both in poor and rich: by money's thurst
All laws and ties (divine, and human) burst.”

Luís de Camões (1524–1580) Portuguese poet

Veja agora o juízo curioso
Quanto no rico, assim como no pobre,
Pode o vil interesse e sede inimiga
Do dinheiro, que a tudo nos obriga.
Stanza 96, lines 5–8 (tr. Richard Fanshawe)
Epic poetry, Os Lusíadas (1572), Canto VIII

Adam Smith photo

“It would be too ridiculous to go about seriously to prove that wealth does not consist in money, or in gold and silver; but in what money purchases, and is valuable only for purchasing. Money no doubt, makes always a part of the national capital; but it has already been shown that it generally makes but a small part, and always the most unprofitable part of it.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book IV, Chapter I, p. 470.

Terry Pratchett photo

“There was no safety. There was no pride. All there was, was money. Everything became money, and money became everything. Money treated us as if we were things, and we died.”

Terry Pratchett book Going Postal

Source: Going Postal

J. P. Morgan photo

“[Credit] is an evidence of banking, but it is not the money itself. Money is gold, and nothing else.”

J. P. Morgan (1837–1913) American financier, banker, philanthropist and art collector

Testimony to the Pujo Committee (1912)

David Ricardo photo

“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 (1772–1823) British political economist, broker and politician

Source: The Principles of Political Economy and Taxation (1821) (Third Edition), Chapter III, On the Rent of Mines, p. 47

Karl Marx photo

“Gold is now money with reference to all other commodities only because it was previously, with reference to them, a simple commodity.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Vol. I, Ch. 1, Section 3, pg. 81.
(Buch I) (1867)

Related topics