A Method of Increasing the Quantity of Circulating-Money : Upon a New And Solid Principle : Letter I 5

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Fourthly'; if there be (as of courfe there muft be) an interval of time between the fall and the rife, the tranferrer muft continue, during the whole interval, unable to purchafe a quantity of flock equal to what he had when he obtained the notes.
The occurrence and operation of thefe numerous caufes is a moft improbable fuppofition j efpecially confidering that the transferrer muft be underflood to have received an equivalent in property of fome kind on parting with his notes, and, therefore,
...may be expected to be able to redeem his flock, or to buy an equal quantity at the fuppofed price of 25.
But perhaps the flock-notes may have been applied to purchafe land or land-tax.—/^//, at leaft ( «7 ) leaft the transferrer has then realized half the amount of his ftock at the prefent price, befides the annual increafe of £. 250 upon his £. 20,000: and he muft confider that, if he had continued to hold his ftock till the fuppofed period of ultimate depreciation, his lofs would be greater than it can be upon any fuppofition affecting this plan j which includes the annual gain of £.


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