If the money of any particular country should encrease beyond the proportion that country bears to Europe; it would undervalue money there, or, according to the way of speaking, it would raise goods: but as money would be undervalued every where the same, or near to what it were there; it would be of great advantage to that country, tho’ thereby money were less valuable: for that country would have the whole benefit of the greater quantity, and only bear a share of the lesser value, according to the proportion its money had to the money of Europe. when the Spaniards bring money or bullion into Europe, they lessen its value, but gain by bringing it; because they have the whole benefit of the greater quantity, and only bear a share of the lesser value. What has been said, proves, 1st. that silver money is an uncertain value; because lyable to be altered in the fineness or denomination by the prince. A crown has no more silver in it than half a crown or 15 pence had a 150 or 200 years ago. 2dly. That as silver it has fallen from the value it had, the same quantity not being worth the 5th or 10th part of what it was worth then. A moneyed man then worth a 1000 lib. was richer at that time than a landed man of 240 chalder of victual rent: but a man of such a money estate, would not now be worth one 50th part of such a land estate. 3dly, That tho’ fallen so much, yet it is given as money or sold as bullion, for much more than its value as a metal; to which it will be reduced, so soon as another money is set up. Considering the present state of Europe, France and Spain being masters of the mines, the other nations seem to be under a necessity of setting up another money. the only reason can be given why it has not yet been done, is, that the nature of money has not been rightly understood: or they would not have continued buying silver from Spain above its value as a metal, when they had a more valuable money of their own; and every way more fitted for that use. The receiver of silver can have no great hopes that the value of it will be greater; for ’tis not to be supposed it will be apply’d to any other uses, than it is now apply’d to, whereby the demand for it may be encreas’d: or that the quantity exported and consum’d, will be greater than the quantity imported. Tho’ it be scarce in any particular country, yet the money’d men will have no great benefit by such scarcity, as has been shown: for unless the scarcity is the same in all places with which that country trades, money will not be valued much higher there than in other countries.