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Asher Cooper
Asher Cooper

Rise Of Nations Gold Edition

Another great way to seek gold is to colonize for your gold. Africa is openly accessible to most nations, and it's weak gold coast countries hold massive gold reserves. So if you make a navy, you can easily secure your loot in Africa.

Rise of Nations Gold Edition

Comrade Varga published, more than a year ago, an article in the Neue Zeit on Gold Production and the Rise in Prices, in which he set forth the theory that changes in the production of gold are not accountable for the present in prices, and furthermore that such change would never cause a fall in the value of gold but only a rise of ground rents in mining.

Increase of its production implies under all conditions increase of demand on the commodity market. And this increase is by no means limited to the amount of its production. If the producer of gold buys wares with his product, these possessors of wares are thereby placed in a position to buy wares themselves, and so on. Additional gold becomes the starting-point and the impetus to an additional circulation of commodities in which again arise new demands and commodities. This additional circulation is involved in the circulation already existing, influences it, and is influenced by it. Its speed is therefore to a great extent dependent upon the same circumstances as those on which the old circulation depends. However it may shape itself, the amount of demand which the additional gold develops is on every occasion a multiple of the sum of values of the gold itself.

Productivity in other branches remains the same, therefore the amount of commodities for the market does not grow in proportion to the amount of gold. The demand for commodities therefore grows stronger than the supply. The prices for commodities must therefore necessarily rise, even if there is not the least change in the disposition of the social labor forces.

How high the prices will rise is, however, not solely fixed by the yearly increase in the production of gold. We have seen that the additional demand for commodities arising through every increase is dependent upon many varying conditions in the circulation of commodities.

In the extreme cases which we have taken, that the productivity of gold production is suddenly doubled, there will arise a violent new demand for commodities, which cannot be satisfied at the old prices. Every commodity which comes into the market can find a buyer as the circulation of commodities is accelerated, but thereupon also the demand for commodities is still further increased in proportion to the newly furnished increase in the amount of gold.

This method of proof would be unimpeachable, save for the fact that it merely states that which it seeks to prove, namely, that prices do not rise because of the increased production of gold. Varga says:

When, as a result of the increased demand which the increased gold production causes, the prices of commodities rise, the cost of the means of life and the tools required by the gold miners also rise. These will rise first and to the greatest extent, because the increase in gold production especially increases the demand for them. The higher the price of these the greater the tendency to save labor power in gold mining, and the less the possibility of taking up new mines.

This is not a mere theoretical conclusion. In the sixteenth century, when the great stream of precious metals, gold and silver, from the newly discovered lands of America, came to Europe, there were gold mines in the Alps. Will anyone declare that they all became exhausted simultaneously? Why was not the rise in prices, due to the precious metals of America, the universal reason which transformed the working of all these mines at one and the same time into a losing business? Ground rents, as far as concerns the gold mines of the Austrian Alps, were at that time not only not raised, but for the most part entirely destroyed. 041b061a72




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