The manner of lending money in France, and I suppose in other Roman Catholick countries; is by way of perpetual interest, redeemable by the debitor, and which the creditor may dispone or assign, but can never demand the principal. and it is usury by law to take any interest for money, if the creditor has power to call for the principal, tho’ the term of payment be many years after the money is lent. suppose the manner of lending in Scotland was the same 200 years ago, and that A. B. having 768 acres of land, rented at a boll of victual the acre, the yearly rent 48 chalder, at 5 lib. Scots the chalder, 20 lib. sterl. C. D. worth a 100 lib. in money, to have lent it to A. B. and interest being at 10 per cent, to have received an annual interest of 10 lib. which he left to his son, and thought he had provided sufficiently for him, 10 lib. being equal to, or worth 24 chalder of victual. but interest being lowered to 6 per cent, money being raised in the denomination, and of less value by its greater quantity: the 6 lib. now paid for the annual interest of that 100 l. is not worth one chalder of victual. and 384 acres, or the half of A. B’s land 200 years ago only equal to a 100, or a 140 lib; is now worth 57 times that sum, the rental supposed to be doubled, and its value at 20 years purchase. In France it has been observed, that about 200 years ago, the same land was in 30 years worth double the money it was worth before. so land worth a 100 lib. anno 1500, was worth 200 lib. anno 1530. 400 lib. anno 1560. and so on, till within these 50 or 60 years it has continued near the same value. In England 20 times the quantity of money is given for goods, that was given 200 years ago. in these countries ’tis thought goods have rose; but goods have kept their value, ’tis money has fallen. Most goods have increased in quantity, equal or near as the demand for them has increased; and are at or near the value they had 200 years ago. land is more valuable, by improvement producing to a greater value, and the demand increasing, the quantity being the same. silver and money are of lesser value, being more increased in quantity, than in demand. Goods will continue equal in quantity as they are now to the demand, or won’t differ much: for the increase of most goods depends on the demand. if the quantity of oats be greater than the demand for consumption and magazines, what is over is a drug, so that product will be lessened, and the land imployed to some other use: if by a scarcity the quantity be lesser than the demand, that demand will be supplyed from magazines of former years; or if the magazines are not sufficient to answer the demand, that scarcity cannot well be supposed to last above a year or two. Land will continue to rise in value, being yet capable of improvement; and as the demand increases, for the quantity will be the same.