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eighteenllions,eanonlytoexpresstheauntofthe
talpieces,eputed,orratherhave
supposedtocirculateinthatuntry.butan
iseannlyto
expressnotonlytheauntofthetalpieceshare
annuallypaidtohibutthevalueofthegoodshhe
annuallypure.eannlytoascertain
ishttobehishequantityandquality
ofthenecessariesandnvenienciesoflifeinh
proprietyindulgehielf.
ofney,eannotonlyto
expresstheauntofthetalpiecesofposed,
buttoineobscurereferehe
goods,thehor
revehiscasedenotes,isequalonlytooneof
thetatedsobiguouslyby
thesaoreproperlythantothe
forr,totheneysoreproperlythantotheney.
thusifaguiheicular
person,hetheurseofthehita
usents.
inproportionasthisquantityisgreatorsll,soarehisreal
riches,hisrealainly
notequalbothtotheguinea,andtobepurchasedh
it,butonlytooherofthoseto
thelatterreproperlythantotheforr,totheguineas
hratherthantotheguinea.
ifthepensionofsuchaperson,notin
gold,butinaweeklybillfuinea,hisrevenuesurelywould
notsoproperlynsistinthepieceofpaper,asinhe
uldgetforit.aguineaybensideredasabillfora
certainquantityofnecessariesandnvenienciesuponallthe
tradesnintheneighbourhood.therevehepersonto
itispaid,doesnotsoproperlynsistinthepieceofgold,as
inhegetforit,orinheexgeitfor.if
ituldbeexgedfoothing,itwould,likeabillupona
bankrupt,beofnorevaluethauselesspieceof
paper.
thoughthehedifferent
inhabitantsofanyuntry,inthesanner,ybe,andin
realityfrequentlyispaidtotheheirrealriches,
hotaken
together,stalallinproportiontothe
quantityofnsublegoodspurchase
ohetakeher
isevidentlynotequaltoboththeneyandthensuble
goods;butonlytooherofthosetothe
latterreproperlythantotheforr.
thoughly,therefore,expressapersonsrevenue
bythetalpieces,itisbecause
theauntofthosepiecesregulatestheextentofhispowerof
purchasing,orthevalueofthegoodshhenually
affordtonsu.illnsiderhisrevenueasnsistingin
thispoing,andnotinthepieces
.
butifthisissuffitlyevidentevenhregardtoan
individual,itisstillresardtoasociety.the
auntofthetalpiecesoan
individual,isoftenpreciselyequaltohisrevenue,andisupon
thatattheshortestaexpressionofitsvalue.but
theauntofthetalpieceseinasociety
neverbeequaltotherevenueofallitsers.asthesa
guioday,ypay
thatofaorrohatofathirdtheday
thereafter,theauntofthetalpieceshannually
circulateinanyuntrystaluchlessvaluethan
theoneypensionsannuallypaid.butthepower
ofpurchasing,oodsh
theoneypensionsastheyaresuccessivelypaid,
stalevaluehthosepensions;
asstlike
theyarepaid.thatreveherefore,otnsistinthose
talpieuferiortoits
value,butinthepohegoodsh
suhandto
hand.
herefore,thegreation,thegreat
instruntofrentsoftrade,
thoughitkesapartandaveryvaluablepartofthecapital,
kesnopartoftherevehesocietytobelongs;
andthoughthetalpiecesofposed,inthe
urseoftheirannualanthe
reveheyketheelvesno
partofthatrevenue.
thirdly,andlastly,theesandinstruntsoftrade,
etc.,posethefixedcapital,bearthisfurther
reselahatpartofthecirculatingcapitalh
nsistsihataseverysavingintheexpenseof
ereaes,inish
theproduentofthe
revehesociety,soeverysavingintheexpenseof
llegandsuppthatpartofthecirculatingcapital
oney,isanirovelythesa
kind.
itissuffitlyobvious,andithaspartly,too,been
explainedalready,inannereverysavingintheexpenseof
suppthefixedentoftherevenue
ofthesociety.thealoftheuakerofeverywork
isnecessarilydividedbeting
capital.e,thesller
theo,thegreaterstnecessarilybetheother.itis
thecirculatingcapitalaterialsandwages
oflabour,andputsindustryintotion.everysaving,
therefore,intheexpenseofintainingthefixedcapital,h
doesnotdinishtheproductivepoustincrease
thefundotion,andnsequentlythe
annualproduceoflandandlabour,therealrevenueofevery
society.
thesubstitutionofpaperintheroofgoldandsilver
ney,replaere
esequallynve.circulation
estobecarriedonbyaslessboth
toeredtointainthantheoldoinanner
thisoperationisperford,andiendsto
increaseeitherthegrossortherevehesociety,is
notaltogethersoobvious,andythereforerequ
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