栗子网
www.lizi.tw台湾小说网
www.192.tw小说站
www.xsz.twiresofurther
explication.
thereareseveraldifferentsortsofpaperney;butthe
circulatingnotesofbanksandbankersarethespecieshis
bestkadaptedforthispurpose.
hepeopleofanyparticularuntryhavesuch
nfidehefortune,probity,andprudenceofaparticular
banker,astobelievethatheisaland
suissorynotesasarelikelytobeatanyti
preseohithoseohavethesacurrencyas
goldandsilverney,frohehatsueyat
anytibehadforthe
apartiershisown
prossoryotheextent,weshallsuppose,ofahundred
thousandpounds.asthosenotesserveallthepurposesofney,
hisdebtorspayhihesaiasifhehadlenttheo
e
ofthosenotesarentinuallyingbaforpaynt,
partofthetioonthsaogether.
thoughhehasgenerallyincirculation,therefore,he
extentofahuhousandpounds,tythousandpoundsin
goldandsilveryfrequentlybeasuffitprovisionfor
ansands.bythisoperation,therefore,
tallthe
funshousanduldotherwisehave
perford.thesaexgesybede,thesaquantityof
nsublegoodsybecirculatedanddistributedtotheir
propernsurs,byansofhisprossoryothevalue
ofahuhousandpounds,asbyanequalvalueofgoldand
silverythousandpoundsofgoldandsilver,
therefore,,inthisnner,besparedfrohecirculationof
theuntry;andifdiffereionsofthesakindshould,
atthesati,beanydifferentbanksand
baheaythusbenductedhafifth
partonlyofthegoldandsilverherwisehavebeen
requisite.
letussuppose,forexale,thattheing
neyofsopartie,
toonellionsterling,thatsueingthensuffitfor
circulatingtheheirlandandlabour.
letussuppose,too,thatsotithereafter,differentbanks
andbankersissuedprossorynotes,payabletothebearer,to
theextentofonellion,reservingintheirdifferentffers
tands.
thereain,therefore,incirculatiohundred
thousandpoundsingoldandsilver,andallionofbanknotes,
hteenhuhousandpoundsofpaperaogether.
buttheannualproduceofthelandandlabouroftheuntryhad
beforerequiredonlyonelliontocirculateanddistributeit
toitspropernsurs,andthatannualprodunotbe
iediatelyaughoseoperationsofbanking.one
llion,therefore,tocirculateitafter
thethegoodstobeboughtandsoldbeingpreciselythesaas
before,thesaquantityofneyforbuying
andselliheaybeallowed
sueasbefore.one
lliontofillthatel.
otrun
init,butstoverfloilliohuhousand
poundsarepouredintoit.eighthuhousandpounds,
therefore,stoverflobeingoverandabove
beeloyedinthecirculationoftheuntry.butthoughthis
suloyedatho,itistoovaluabletobeallowed
tolieidle.itherefore,besentabroad,ioseek
thatprofitableeloythe
paperthebanks
theuntryiofit
beexaents.
goldandsilver,therefore,totheauhundred
thousandpoundse
circulationainfilledillionofpaper,instead
ofthellionofthosetalsbefore.
butthoughsogreataquantityofgoldandsilveristhus
sentabroad,ustnotigihatitissentabroadfor
nothing,orthatitsproprietorskeapresentofittn
nations.theyekindor
another,iosupplythensutioherofsoother
fnuntryoroftheirown.
iftheyeloyitinpurchasinggoodsinonefnuntry
iosupplythensutionofanother,orinis
calledthecarryingtrade,akewillbean
additiontothereveheirory.itislikea
icbusiness
beingnoransactedbypaper,andthegoldandsilverbeing
edintoafundforthisnerade.
iftheyeloyitinpure
nsution,theyyeither,first,purchasesuchgoodsasare
likelytobensudbyidlepeoplehing,suchas
fnay
puraterials,tools,andprovisions,
iointainandeloyanadditionalnuerof
industriouspeople,haprofit,thevalueof
theirannualnsution.
sofarasitiseloyedinthefirstotes
prodigality,increasesexpenseandnsutionhoutincreasing
produafundforsupp
thatexpense,andisineveryrespecthurtfultothesociety.
sofarasitiseloyedinthesendotes
industry;andthoughitincreasesthensutionofthesociety,
itprovidesaperfundforsuppthatnsution,the
peopleereprodug,haprofit,thewholevalueof
theirannualnsution.thegrossrevehesociety,the
annualproduceoftheirlandandlabour,isincreasedbythe
enaddstothe
terialsuponployed;arevenueby
ainsofthisvalue,afterdedugisnecessaryfor
suppthetoolsandinstruntsoftheirtrade.
thatthegreaterpartofthegoldandsilverh,being
forployedin
purensution,isandstbe
eloyedinpursnotonly
probablebutalstunavoidable.thoughsoparticularny
sotisiheirexpenseverynsiderablythoughtheir
revenuedoesnotincreaseatall,aybeassuredthatnoclass
or
...