Suppose this commission had been establisht 200 years ago, land then at 14 years purchase, money at 10 per cent, victual at 8 shil. and 4 pence the chalder, and paper money to have been given out upon land; 8 shil. and 4 pence of that paper money, would now have been equal to a chalder of victual, and to 8 lib. 6 sh. and 4 pence silver-money: because silver-money having increas’d in quantity, more than the demand; and having been alter’d in the denomination, has fallen to one 20th of the value it had then. nor would the landed-man have receiv’d less for his victual, than now; for that paper-money would have bought him 20 times the quantity of goods, silver-money will buy. Land has a more certain value than other goods, for it does not encrease in quantity, all other goods may. the uses of goods may be discharged, or by custom be taken from them, and given to other goods: the use of bread may be taken from oats, and wholly given to wheat: the use of money may be taken from silver, and given to land: the use of plate, and the other uses of silver as a metal, may be taken from silver, and given to some other metal, or some mixture that may be more fitted for these uses. in any of these cases, these goods lose a part of their value, proportion’d to the uses are taken from them: but land cannot lose any of its uses. for as every thing is produced by land, so the land must keep its value, because it can be turn’d to produce the goods that are in use. if wheat is more us’d, and oats less, as the land can produce both, it will be turn’d to produce what is most used, because most valuable. This money will not receive any additional value from being used as money, so the receiver will be certain he can be no loser, tho’ after a term of years the use of money is taken from it. the land will receive an additional value, from being used as the pledge upon which the money is issued; and that additional value would be greater than what silver received: because, tho’ land be used as the pledge to issue out money upon, yet none of its other uses would be taken from it: silver cannot be us’d as money and plate at the same time. but as land is in greater quantity than there will be occasion for to give out money upon; so the additional value it receives, will not be near so great as that silver-money has receiv’d. Suppose the additional value land received were one 4th, land now at 20 years purchase, would then be at 25 years purchase. if the parliament call’d in the paper money, he who had paper money could be no loser by it, tho’ the land lost the additional value; for no more of it is given out than the value of the land abstract from its use as money. whereas if silver was no more used as money, he who had silver, would lose a half, or 2 thirds; silver falling then to its value as a metal.