MONEY IN CHAP. xxvn. 



in Europe, and in the parts of America settled 

 by the English. In China and India, and in the 

 other countries of the east, by far the greater por- 

 tion of the inhabitants are employed solely on the 

 cultivation of the land, and subsist chiefly on the 

 productions they themselves raise. They have 

 little to sell and little to buy, and consequently 

 require the use of a very small portion of metallic 

 or other money. Mr. Barrow, speaking of China, 

 says, " In the province of Kiang-nan, each grows 

 his own cotton ; his wife and children spin it into 

 thread, and it is woven into a web in his own 

 house, sometimes by his own family, but more fre- 

 quently by others hired for the purpose. A few 

 bamboos constitute the whole machinery required 

 for the operation. Money he has none ; but his 

 produce he can easily barter for any little articles 

 of necessity or luxury. The only coin in circula- 

 tion is the Taken, a piece of some inferior metal 

 mixed with a small portion of copper, of the value 

 of a thousandth part of an ounce of silver. With 

 this small piece of money the little and "constantly 

 demanded necessaries of life are purchased, such 

 as could not conveniently be obtained by barter. 

 Silver is rarely lent out to interest except between 

 mercantile men in the large cities. The legal in- 

 terest is twelve per cent. ; but it is commonly ex- 

 tended to eighteen, sometimes even to thirty-six 1 ." 



1 Barrow's China, p. 562, 2nd edition. 



