F. Yes, like all other barren dreams formed to promote universal
felicity. The extreme facility of the means which you recommend is quite
sufficient to expose its hollowness. Do you believe that if it were
merely needful to print bank-notes in order to satisfy all our wants,
our tastes and desires, that mankind would have been contented to go on
till now, without having recourse to this plan? I agree with you that
the discovery is tempting. It would immediately banish from the world,
not only plunder, in its diversified and deplorable forms, but even
labour itself, except the Board of Assignats. But we have yet to learn
how assignats are to purchase houses, which no one would have built;
corn, which no one would have raised; stuffs, which no one would have
taken the trouble to weave.
B. One thing strikes me in your argument. You say yourself, that if
there is no gain, at any rate there is no loss in multiplying the
instrument of exchange, as is seen by the instance of the players, who
were quits by a very mild deception. Why, then, refuse the philosopher's
stone, which would teach us the secret of changing flints into gold,
and, in the meantime, into paper money? Are you so blindly wedded to
your logic, that you would refuse to try an experiment where there can
be no risk? If you are mistaken, you are depriving the nation, as your
numerous adversaries believe, of an immense advantage. If the error is
on their side, no harm can result, as you yourself say, beyond the
failure of a hope. The measure, excellent in their opinion, in yours is
negative. Let it be tried, then, since the worst which can happen is not
the realization of an evil, but the non-realization of a benefit.
F. In the first place, the failure of a hope is a very great
misfortune to any people. It is also very undesirable that the
Government should announce the re-imposition of several taxes on the
faith of a resource which must infallibly fail. Nevertheless, your
remark would deserve some consideration, if, after the issue of paper
money and its depreciation, the equilibrium of values should instantly
and simultaneously take place, in all things and in every part of the
country. The measure would tend, as in my example of the players, to a
universal mystification, upon which the best thing we could do would be
to look at one another and laugh. But this is not in the course of
events. The experiment has been made, and every time a despot has
altered the money ...
B. Who says anything about altering the money?
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