One problem with the Gold question I raised appears to me to be a
confusion about which function of money each person is referring to.
In his 'Student's Marx' Edward Aveling's commentary to Pt. 1, Ch.III,
sect 3, he notes six functions of money in the home sphere:
1. Measure of Value
2. Standard of Price
3. Money of Account
4. Circulating Medium
5. Physical Money (m rather than M)
6. Credit Money
Clearly at least 4, 5 & 6 need not involve gold at all. But it does
seem to be vital for 1 (unless another universal commodity is used,
e.g. silver).
At the end of the section there is Universal Money which he says has
3 basic functions:
1. Settling International Balances
2. Universal Means of Payment
3. Univeral Embodiment of Social Wealth
Does this commentary on Das Kapital help to clarify some of the
confusions (or disagreements) which have arisen?
Yours helpfully,
JOhn Walker
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