Reflections On the Abundance of Paper in Circulation, And the Scarcity of Specie 10
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If, for example, they were to issue a million of guineas to-mor- row, they would all vanish. Some would be hoarded, more would be melted, and all the rest be exported: and this must for ever be the case, as long as our expences abroad fa'r exceed our co;^imcrcial credit with other na- tions J and if, in addition to those expences, the balance of trade be also against us, itis fit we should be told, in plain terms, how those expences and that balance are to be made good". Then what resource is l...eft to save us from beggary ? There is but one, if we have strength and stam.ina left to wait tbeeifect of it. The nation must tread back its steps, and reverse its proceedings in the same path, which has brought it to its pre- sent decline. Stop your foreign expences.
Sell more than you buy ; and then the wealth, that has left you, will gradually come back again. When the foreign ac- eount is against you, the gold and silver must go to balance it. When that balance is reversed, the gold and silver will return ; but never till then, or by any other means.
What to read after Reflections On the Abundance of Paper in Circulation, And the Scarcity of Specie 10?
You can find similar books in the "Read Also" column, or choose other free books by Francis, Philip, Sir, 1740-1818 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If, for example, they were to issue a million of guineas to-mor- row, they would all vanish. Some would be hoarded, more would be melted, and all the rest be exported: and this must for ever be the case, as long as our expences abroad fa'r exceed our co;^imcrcial credit with other na- tions J and if, in addition to those expences, the balance of trade be also against us, itis fit we should be told, in plain terms, how those expences and that balance are to be made good". Then what resource is l...eft to save us from beggary ? There is but one, if we have strength and stam.ina left to wait tbeeifect of it. The nation must tread back its steps, and reverse its proceedings in the same path, which has brought it to its pre- sent decline. Stop your foreign expences.
Sell more than you buy ; and then the wealth, that has left you, will gradually come back again. When the foreign ac- eount is against you, the gold and silver must go to balance it. When that balance is reversed, the gold and silver will return ; but never till then, or by any other means.
What to read after Reflections On the Abundance of Paper in Circulation, And the Scarcity of Specie 10?
You can find similar books in the "Read Also" column, or choose other free books by Francis, Philip, Sir, 1740-1818 to read onlineMoreLess
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