 |
|
||||||||||||||
| |||||||
Money Issued: ROSA AMERICANA, in numismatics, the ime applied to a coinage issued in 1722 by Great ritain for the American colonies. It consisted ia mixed metal resembling brass, and was called osa Americana or Wood's money, after its Bnufacturer, William Wood. The royal letters itent described this money as twopence, pence, id halfpence. See also NUMISMATICS.
ROSACEA, ACNE ROSACEA, or 6UTTA ROSEA.No country has a direct and decisive control over gold. If gold were replaced by inconvertible dollars or money issued by an international board, therefore, governments and central banks would find it more difficult to safeguard the autonomy and independence of their own monetary matters. For acceptance of an inconvertible dollar exchange standard or of money controlled by an international board would be like having two central banks—one at home and the other in Washington.
GRESHAM'S LAW, gresh'amz, in economics, is usually stated as "bad money drives out good." The law stems from the fact that money has a value both as money and as a commodity in the open market. The former value is set arbitrarily by law and is relatively fixed; the latter is determined by supply and demand and varies from time to time, "Good money" has a higher value as a commodity than as money and will disappear from circulation. |
|||||||
| Home | About Us | Contact Us | Site Map | Links | Library |
All Rights Reserved
