Money and banking; a lecture delivered at the Mechanics' Institute, Toronto.
Bibliographic record
Abstract
MONEY AND BANKING.that industry in motion, which is Money.None of these, taken singly, can be of any use, but a judicious combination of the whole produces wealth.Wealth is the production of useful industry, objects capable of ministering to the wants and tastes of mankind ; and Resources are the materials, or means applicable to such purpose.Money is more properly to be regarded as one of the resources of the nation, rather than part of its actual wealth, because though industry has been bestowed on its production, yet its production is only a means to an end, and not the end itself.The use of money is to set industry in motion ; but what is money ?Before defining it I will explain the meaning of currency.We will suppose there be three persons, respectively named A, B, C ; A performs services for B, and at the time does not require B's services ; B then becomes indebted to A, and gives him some token or acknowledgment of the debt.A writing to that effect would be sufficient. A afterwards requires C's serviees, C wants not A's, but wishes for B's.What more natural than for A to transfer B's obligation to C, who readily accepts it, well knowing B's capability of fulfilling his promise C then transfers B's obligation to some one else, and so this written obligation or evidence of debt, would pass from bund t) hand, or be current, and from the use of it the thing itself would be what is called a Currency.This simple consideration at once shews the nature of a currency; that its use is to facilitate the transference of debt from one person to another ; and that whatever means be adopted for that purpose, whether it be gold, silver, or paper, is a currency.Currency, then, is nothing more than the evidence of services baving been rendered, for which an equivalent has not been received, but which can at any time be demanded.We may, therefore lay down thatCurrencyandTransferableDebt are Convertable Terms; whatever represents transferable debt is currency, and whatever material the currency may consist of represents transferable debt, and nothing else.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.002 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.002 | 0.002 |
| Scholarly communication | 0.003 | 0.002 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.002 | 0.002 |
| Insufficient payload (model declined to judge) | 0.058 | 0.014 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".