DEFINITIONS.
Extrinsic Valueof Money is the Denomination and Power, that is given it by Authority.
Intrinsic Valueis the necessary and Natural Value, always and every where inherent in the Species.
Real Valueis a Certain Value more or less than Extrinsic, or Intrinsic, adherent to the Species, with respect to time and place.
TWO things are now under Consideration. 1. The Badness of our Silver Coin.
2. The Scarcity of it.