4i2 MARKETS. 26. 



dragged to the gallows for coining fixpences 

 and fhillings, while others are fuffered to 

 amafs fortunes by coining five and ten pound 

 pieces ? — If paper-money be political, the na- 

 tion, not individuals, ought to have the pro- 

 fits arifing from it. 



But the infecurity of paper-money, and 

 the crime of coining it, are only part of the 

 evil which is here meant to be held up to 

 view. I pretend not to the profound in poli- 

 tical arithmetic ; but I have always under- 

 ftood that the prices of commodities at mar- 

 ket bear a proportion to the quantity of 

 money in circulation. If this be in truth the 

 cafe, the evil here fpoken of has the molt 

 pernicious tendency. 



In the prefcnt flate of Europe, this coun- 

 try can preferve \is pre-eminence as a nation by 

 manufadlures and commerce alone. The de- 

 mand for the manufad:ures of a given country 

 will ever bear a proportion to lh<:\r comparative 

 price. The price of manufadlurcs depends 

 upon thofe of materials and labour ; and this 

 on the price of living. If by a flow of calli 

 in circulation (no matter whether of gold, fil- 



ver. 



