The _abundant_ currency makes manufactures various, abundant, and cheap, from increased production; while it raises the prices of agricultural commodities, by withdrawing laborers from the production of them, and also by creating a body of purchasers and consumers, to wit, the manufacturers. On the other hand, a _scanty_ currency drives men from manufactures into agriculture, and thus causes manufactures to become scarce and dear, from non-production; and, at the same time, causes agricultural commodities to fall in price, from over-production, and want of a market. But whether, on the one hand, agricultural commodities are rising, and manufactured commodities are falling, under an abundant currency; or whether, on the other hand, manufactured commodities are rising, and agricultural commodities are falling, under a scanty currency, the value of the currency itself, dollar for dollar, remains the same in both cases. The value of the currency, in either of these cases; is fixed, not at all by the amount in circulation, but by its value relatively to gold. And the value of gold, in any particular country, is fixed by its value as a metal, and its value in the markets of the world; and not at all by any greater or less quantity of paper that may be in circulation in that country. SECTION 4. But it is not alone agricultural _products_ that rise in price under an abundant currency. Real estate also, of all kinds--agricultural, manufacturing, and commercial--rises under an abundant currency, and falls under a scanty currency. The reasons are these: _Agricultural_ real estate rises under an abundant currency, because agricultural products rise under such a currency, as already explained. _Manufacturing_ real estate rises under an abundant currency, simply because--money being the great instrumentality of manufacturing industry--that industry is active and profitable under an abundant currency. _Commercial_ real estate rises under an abundant currency, because, under such a currency, commerce, the exchange and distribution of agricultural and manufactured commodities, is active and profitable. _Railroads_, also, rise under an abundant currency, because, under such a currency, the transportation of freight and passengers is increased.