Say*a Catechism of 



Miuify, snd that the same Iiad been 

 sold to pay the taxes, that it was gene- 

 rally felt tliat arrears of taxes operated 

 agai«»t the property evaclly as arrears 

 ef interest in a mortgage. While such 

 dehision prevails, and while there is 

 a high probability that a continuance 

 ofit may lead to tlie most fatal results, 

 it is evident that the clear exposi- 

 tions of M. Say onght to be read in 

 every parish, from the Orkneys to the 

 Land'* End. — llje following chapters 

 will justify our opinion to every intelli- 

 gent reader.] 



ON THE COMPOSITION OP WEALTH AND 

 TUE USE OF MONEY. 



WHAT do you understand by the 

 word wealth? 



Whatever has a value; gold, silver, 

 land, merdiandise 



Are not gold and silver preferable to 

 other vvealth? 



TMt is. preferable in which the great- 

 est Value IS to be found. One hundred 

 and ten guineas in corn are preferable to 

 one hundred guineas in gold. 



But, where the value is equal, is not 

 the money better than the merchandise ? 



Iti fact, it is preferred. , : j,.«,.,i 



What is the reason of it? ;: •-,; .,;,,,., 



The custom generally estnolishioo of 

 using money as a medium in exchanges, 

 renders that species of merchandise more 

 convenient than any other for those who 

 iiave purchases to make; that is, for 

 every body. 



What do you mean by money being a 

 medium of exchanges? 



If you are a farmer and desire to ex- 

 change a part of your corn for cloth, you 

 begin by procuring money for your corn ; 

 then wfith that money you buy cloth. 



\Vithput doubt. 



.'lifiou have in reality made a double ex- 

 ehange,.in which you have given corn to 

 one ttfan, and another ins giv«n.cloch to 

 you. - 



That is tru«. 



Tlie value of this corn wai transitorily 

 in money, afterwards in cloth; a(»d, thnuph 

 you have in fact exchanged your corn for 

 cloth, money was the intermediate form 

 wljiph that value assumed in order to 

 cl>fl|)ge ititlf into cloth. Such is (he use 

 ofiniijne.v. 



Well ! But, if all these values are equal, 

 wky lb that of money preferred ? 



fieoame, when a man once possesses 

 m^iey, lie need make only one exchange, 

 in-oi-def (o obtain what he rnay want; 

 while he whn possesses every other mer- 

 cIiHiidlse, has two exclianges to make, 

 tle^iujt, in (he first pi acr-, exchange \xii 



MuMiULY Mac.Nq. 293. 



Political Economy, 



€11 



merchandiee for money, and' sffte^wafdi 

 his money for merchandise. 



Can you make use of any other thing 

 for (his purpose instead of money? 



Yes; there are countries in whjt;h 

 shells and other articles are used ; biiif 

 the metals, and principally gold arftt^' 

 silver, are, i/f all materials, the most con- 

 venient to he used as money, ft is that' 

 which has caused them tu be adopted by 

 all civilized and commercial nations. '■ 



Then in those countries in which shells'' 

 are used as money, iliey are the objeciij- 

 which, the value being equal, are prt-'" 

 ferred in exchanges ? -:"■ 



They are so in effect: but the precitinif 

 metals are more sought after than ths' 

 other monies, because they possess, ;ir' 

 merchandise, certain advantages wlircll^' 

 increase the prefeience they possess as 

 money. Tliey contain much value iii' 

 small bulk, which ptrniits them to be 

 easily concealed and curried from place 

 to place; they do not spoil by keeping; 

 they may be divided or reunited at will, 

 almost without loss ; in fine, they are valu« 

 able all over the world, and whatever 

 fiequented place we travel to wiih this 

 sort of wealth, we are sure, on more ot 

 less favourable conditions, to be able ta 

 exchange it for whatever we may want, 



I comprehend the reason why money^ 

 and, above all, money of gold and silver, 

 is more desirable than any other mer- 

 chandise; but h'lw can we procure it? ' 



As we procure every thing else that 

 we want, by an exchange uhen we have 

 not a mine that produces it; in the sortie 

 way that we procure fruit When thi^-djii' 

 not possess the tree that hears it,*"" "" 



How can we obtain a iliinsjin oi'^efw' 

 give it in exchange for myney ? i'!."'. ' 



Produce it. 



Produce a thing ! But, supposing thaX 

 possible, how shall I be cert.iin that t 

 *.hall get money for that thing? 



You may assure yourself of that by 

 giving it !» value. 



ON THE tniLirr and '•tf&t^'^W'-'- 



PRODUCTS. '■'"^'••■' '■ «■'"."'' 



What <fo yoii'uftdierittthd'U'tTr^ Wbta 



Products?' H-;- !■''•■• '.'!■-!"!" .•^""•' ''•''"•• 



I understand' all th'^se lh'itig3''td which 

 men have consented to j^ve a vakie. 



How is value given to a thing ? 



By giving it utility. '' 



How is the utility of a tfliing tll^ cau:« 

 of its having a v.ilue? "'''• '■' '' " " 



Ui-cause persons are th^W tiol^'fdlind 

 who are in wantof tlris) tlnng ;"th'i!y d'esire 

 to ha>e"it frony ktvose who produce it. 

 These, on their sitle, will not part frmn 

 it unul ihcy are paid the expenses they 

 i I have 



