107 



When the converse takes place i. e. when a very 

 much lesser quantity of any commodity than is 

 ordinarily required, is offered for sale, the market 

 is said to be stinted ; and prices rise. 



But, in both cases, values remain the same, and 

 by the common law which (in markets regulated 

 by recognized principles of commerce) compels 

 an equilibrium between real and apparent values, 

 disturbing influences removed, prices are soon. 

 adjusted. 



All this, however, pre-supposes realities actual 

 existences to deal with. But cut these off, and how 

 stands the case.? Supposing, for instance, one 

 country to be wholly dependent on another for the 

 supply of any particular commodity, and a rebellion 

 suddenly to break out in the former, or a war between 

 the two. The supply is, of course, suddenly 

 stopped. As regards that particular commodity 

 in the market then, howsoever great the demand, 

 there can be neither real nor apparent value it is 

 non estj and trades existing on it are starved ; or if, 

 from a similar cause, the supply though not entirely 

 cut off, should be reduced so low as to meet but au 

 inappreciable portion of the demand, the result is 

 much the same ; and this is called, I believe, 

 a Crisis ! 



The laws and principles of Political Economy, 

 as far as with the aid of modern authorities I have 

 been able to make myself acquainted with them, 



