Here then we may learn the fallacy of the remark, often to be met with
in historians, and even in common conversation, that any particular
state is weak, though fertile, populous, and well cultivated, merely
because it wants money. It appears that the want of money can never
injure any state within itself: for men and commodities are the
real strength of any community. It is the simple manner of living
which here hurts the public, by confining the gold and silver to few
hands and preventing its universal diffusion and circulation. On the
contrary, industry and refinements of all kinds incorporate it with
the whole state, however small its quantity may be; they digest it
into every vein, so to speak, and make it enter into every transaction
and contract. No hand is entirely empty of it. And as the prices of
everything fall by that means, the sovereign has a double advantage: he
may draw money by his taxes from every part of the state, and what he
receives goes farther in every purchase and payment.
We may infer, from a comparison of prices, that money is not more
plentiful in China than it was in Europe three centuries ago; but what
immense power is that empire possessed of, if we may judge by the civil
and military list maintained by it! Polybius tells us that provisions
were so cheap in Italy during his time that in some places the
stated club[16] at the inns was a _semis_ a head, little more than a
farthing! Yet the Roman power had even then subdued the whole known
world. About a century before that period the Carthaginian ambassador
said, by way of raillery, that no people lived more sociably amongst
themselves than the Romans, for that in every entertainment which, as
foreign ministers, they received they still observed the same plate
at every table. The absolute quantity of the precious metals is a
matter of great indifference. There are only two circumstances of any
importance—viz., their gradual increase and their thorough concoction
and circulation through the state; and the influence of both these
circumstances has been here explained.
In the following essay we shall see an instance of a like fallacy as
that above mentioned, where a collateral effect is taken for a cause,
and where a consequence is ascribed to the plenty of money; though it
be really owing to a change in the manners and customs of the people.
NOTES, OF MONEY.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account