Seigniorage
Seigniorage, also spelled seignorage, is the net revenue derived from the issuing of currency. It arises from the difference between the face value of a coin or bank note and the cost of producing and distributing it. Seigniorage is an important source of revenue for national governments.Seigniorage can be regarded a form of tax levied on the holders of a currency, and as such a redistribution of resources to the issuer. Expansion of the monetary base, by issuing currency, can however induce inflation and a government relying heavily on seigniorage, as source of revenue, will find it counter productive in the long run. Examples include the hyperinflation in Germany, during the 1920s.
See also: Central bank, Money
The bounty has long been a dead letter; and will probably
restrictions upon the importation of foreign corn.html">corn.html">corn.html">corn.html">corn with a view to an
of continuing the corn laws, seems to depend upon the three
importation and exportation, it is probable that Great Britain and
naturally, is an object.html">object really desirable, and one which justifies
object, how far, and by what sacrifices, are restrictions upon
nature of things, be determined by general.html">general principles, but must
corn in the country.html">country in question. We know that it answers to almost
every reason to suppose, that even a large landed nation, abounding
soil.html">soil, might find it cheaper to purchase a considerable part of its
demand.html">demand, was more abundant. If the intercourse between the different
by no means natural that one country should be employing a great
distance, lands comparatively rich were lying very ill cultivated,
improvement ought naturally to proceed more equably. It is true
particular districts, might give some facilities of culture not
expected to make up for great differences in the quality of the soil
that under very great inequalities in the demand for corn in
accumulation of mercantile and manufacturing capital and in the
without the transfer of a part of the general supply of Europe, from
it was comparatively excessive.
According to Oddy's European commerce, the Poles can afford to bring
merchants are said to be of opinion that the price is not very
corn growers in the neighbourhood of the Baltic could look forward
corn expressly for the purpose. The same observation is.
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