“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

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

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David Ricardo 37

British political economist, broker and politician 1772–1823

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