Ven. Akshay Kamble

Contd 17. It is an opinion supported by the best authorities, and proved by experience, that coins of gold and silver cannot circulate as legal tenders of payment at fixed relative values...... without loss; this loss is occasioned by the fluctuating value of the metals of which the coins are formed. A proportion between the gold and silver coin is fixed by law, according to the value of the metals, and it may be on the justestprinciples, but owing to the change of circumstances gold may become of greater value in relation to silver than at the time the proportion was fixed, it therefore becomes profitable to exchange silver or gold, so the coin of that metal is withdrawn from circulation; and if silver should increase in its value in relation to gold, the same circumstances would tend to reduce the quantity of silver coin in circulation. As it is impossible to prevent the fluctuation in the value of the metals, so it is also equally impracticable to prevent the consequences thereof o

CHAPTER I FROM A DOUBLE STANDARD TO A SILVER STANDARD Trade is an important apparatus in a society, based on private property and pursuit of individual gain ; without it, it would be difficult for its members to distribute the specialised products of their labour. Surely a lottery or an administrative device would be incompatible with its nature. Indeed, if it is to preserve its character, the only mode for the necessary distribution of the products of separate industry is that of private trading. But a trading society is unavoidably a pecuniary society, a society which of necessity carries on its transactions in terms of money. In fact, the distribution is not primarily an exchange of products against products, but products against money. In such a society, money therefore necessarily becomes the pivot on which everything revolves. With money as the focusing-point of all human efforts, interests, desires and ambitions, a trading society is bound to function in a regime of price, whe

Philosophy of Hinduism I What is the philosophy of Hinduism? This is a question which arises in its logical sequence. But apart from its logical sequence its importance is such that it can never be omitted from consideration. Without it no one can understand the aims and ideals of Hinduism. It is obvious that such a study must be preceded by a certain amount of what may be called clearing of the ground and defining of the terms involved. At the outset it may be asked what does this proposed title comprehend? Is this title of the Philosophy of Hinduism of the same nature as that of the Philosophy of Religion? I wish I could commit myself one way or the other on this point. Indeed I cannot. I have read a good deal on the subject, but I confess I have not got a clear idea of what is meant by Philosophy of Religion. This is probably due to two facts. In the first place while religion is something definite, there is nothing definite* [f1] as to what is to be included in the t