Argument 402: if an Employee Who Was Taking Money in Gold Coins to Pay Some Debts, Or to Make Some Purchases, Took Advantage on the Way of an Opportunity Offered to Exchange Those Coins for a Better Price, Could That Employee Appropriate for Himself the Extra Charge Obtained in This Manner?(Treatise on Money) (Excerpt) Argument 402: if an Employee Who Was Taking Money in Gold Coins to Pay Some Debts, Or to Make Some Purchases, Took Advantage on the Way of an Opportunity Offered to Exchange Those Coins for a Better Price, Could That Employee Appropriate for Himself the Extra Charge Obtained in This Manner?(Treatise on Money) (Excerpt)

Argument 402: if an Employee Who Was Taking Money in Gold Coins to Pay Some Debts, Or to Make Some Purchases, Took Advantage on the Way of an Opportunity Offered to Exchange Those Coins for a Better Price, Could That Employee Appropriate for Himself the Extra Charge Obtained in This Manner?(Treatise on Money) (Excerpt‪)‬

Journal of Markets & Morality 2005, Spring, 8, 1

    • 79,00 Kč
    • 79,00 Kč

Publisher Description

The matter we are discussing in this argument happened frequently in Portugal when I was teaching these subjects. At the time there was an abundance of coins of 1,500 reais and debts were paid with them, or they were handed over to an envoy to be used to buy merchandise for their owners. According to what we have said, it was possible to exchange the coins with an additional benefit over the price they had been appraised for when minted, without breaking the law for it. The issue in question is whether the envoy under discussion, when knowing beforehand who was willing to give that extra charge, or looking for [that person] himself, might carry out that exchange and get for himself the extra charge using the rest of the money to pay the debt or buy the merchandise as they had ordered him to do. May he keep the extra charge or should he restitute it? And who does he owe the restitution to? The same uncertainty exists regarding the officers of the king who are in charge of collecting the royal revenue, and other ministers who carry out similar duties for other members of the aristocracy and, in general, the depositaries to whom many debts are paid in currency that they have no obligation of assessing for a higher price, and then, by order of the king, or of whomever they are ministers of, pay salaries, debts, and other expenses. During the time between the collection and the payment, these people have the opportunity to exchange the collected coins for other [coins], thus obtaining an increment, and it is uncertain whether they may keep that extra charge or should restitute it.

GENRE
Business & Personal Finance
RELEASED
2005
22 March
LANGUAGE
EN
English
LENGTH
8
Pages
PUBLISHER
Acton Institute
SIZE
329.1
KB

More Books by Journal of Markets & Morality

Aquinas and Hayek on the Limits of Law: A Convergence of Ethical Traditions (Thomas Aquinas, F. A. Hayek) (Essay) Aquinas and Hayek on the Limits of Law: A Convergence of Ethical Traditions (Thomas Aquinas, F. A. Hayek) (Essay)
2002
Dubitatio 21: Are All Kinds of Monopoly Unjust?(On Buying and Selling (1605)) (Excerpt) Dubitatio 21: Are All Kinds of Monopoly Unjust?(On Buying and Selling (1605)) (Excerpt)
2007
Argument 398: on Exchange in a Strict Sense and Its Types. Is the Exchange Dealer's Activity Licit?(Treatise on Money) (Excerpt) Argument 398: on Exchange in a Strict Sense and Its Types. Is the Exchange Dealer's Activity Licit?(Treatise on Money) (Excerpt)
2005
The Judeo-Christian Foundation of Human Dignity, Personal Liberty, And the Concept of the Person (Critical Essay) The Judeo-Christian Foundation of Human Dignity, Personal Liberty, And the Concept of the Person (Critical Essay)
1998
On Custom and Title (On the Law in General) (Excerpt) On Custom and Title (On the Law in General) (Excerpt)
2003
The Economics of Bertrand De Jouvenel (Critical Essay) The Economics of Bertrand De Jouvenel (Critical Essay)
1998