This purchasing power was at first by no means fixed or constant.
So long as there was but a small quantity of gold, its purchasing power was large.
In purchasing power that sum would now be represented by a million and a quarter.
The purchasing power of money is in direct proportion to the volume of money existing.
There has been no decrease whatever in the purchasing power of the rupee in India.
A tottering earldom was likewise beyond her purchasing power.
But what about value in a situation where there are differences in 'purchasing power'?
It still pays a pound, but the purchasing power of the pound has diminished.
Evidently they may do the same thing when the consequence is merely a diminution in its purchasing power.
The gain in the amount of money would be offset by the loss in its purchasing power.