They could not understand that if a profit or benefit was to be
derived in the purchase of commodities or provisions in France with
actual money, such money would unavoidably find its way there. Coins,
being in fact merchandise, will follow the same rules of exchange, and
will be attracted to those parts where they bear a greater exchangeable
or market value. The actual value of a coin in currency must be that of
its intrinsic value; and if temporary circumstances cause it to bear a
greater value elsewhere, thither it will tend, till the balance is
restored, in defiance of any attempts to arrest its progress.
"The ill-success of the States, in their prohibition of the exportation
of gold and silver coin, did not lead them to perceive the futility of
the measure; but they were fearful that the copper money, the _sous_ and
the _liards_, would follow their betters, particularly as sous and
liards had risen in value in France, and that thus the Island would be
deprived of all metallic circulation. They therefore, on the 9th of
April, 1720, prohibited the carrying out of the Island of _liards_ and
_sous_ to a larger amount than five livres tournois for each person,
under the penalty of confiscation; and all persons were authorised to
seize the moneys thus exported, and to require the assistance, if
necessary, of the constables and centeniers in the searching of the
vessels; while the master and crews on board of which such sums should
be found, if cognizant of the fact, were to be liable to a fine and an
imprisonment of three months.
Public-domain text, read in full here on John Shaqi.
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