3.3. Further Explanations on the Nature of Exchanges

Update: 2014-12-01

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Exchange rates are explained as a function of the balance of trade and other factors. A trade deficit can cause your money to exchange below par, while a trade surplus will cause it to exchange above par. In fact, the exchange rate, above and below par, is an indicator of the general balance of trade in a country. An attempt to prohibit the export of gold necessary to pay for deficits only hurts the economy.

From Part 3: International Trade and Business Cycles. Narrated by Millian Quinteros.

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In Channel

3.8. The Refinements of Credit of General Banks

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3.7. Further Explanations and Enquiries as to the Utility of a National Bank

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3.6. Banks and their Credit

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3.5. The Augmentation and Diminution of the Denomination of Money

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3.4. The Variations in the Proportion of Values with Regard to the Metals Used as Money

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3.3. Further Explanations on the Nature of Exchanges

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3.2. On Bills of Exchanges and their Nature

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3.1. Foreign Trade

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2.10. The Causes of Increases and Decreases of the Interest Rate on Money in a State

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2.9. Interest on Money and its Causes

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2.8. Further Reflections on the Increase and Decrease of Money in a State

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2.7. Continuation of the same subject

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2.6. The Increase and Decrease of the Quantity of Money in a State

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2.5. The inequality of the circulation of hard money in a State

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2.4. Further Reflection on the Rapidity or Slowness of the Circulation of Money in Exchange

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2.3. The Circulation of Money

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2.2. Market Prices

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2.1. Barter

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1.17. Metals and Money, and especially of Gold and Silver

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1.16. The more Labor there is in a State, the more the State is Judged Naturally Rich

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3.3. Further Explanations on the Nature of Exchanges

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3.3. Further Explanations on the Nature of Exchanges

Richard Cantillon

3.3. Further Explanations on the Nature of Exchanges