Ch. V. Of Poor- Laws. 75 



to overbalance these temporary advantages, a 

 lasting evil might be entailed upon the community, 

 and the prices of a time of scarcity might become 

 permanent, from the difficulty of reabsorbing this 

 increased circulation. 



In this respect, however, it is much better that 

 the great issue of paper should have come from 

 the country banks than from the Bank of England. 

 During the restriction of payment in specie, there 

 is no possibility of forcing the bank to retake its 

 notes when too abundant; but with regard to the 

 country banks, as soon as their notes are not 

 wanted in the circulation, they will be returned ; 

 and if the Bank of England notes be not increased, 

 the whole circulating medium will thus be dimi- 

 nished. 



We may consider ourselves as peculiarly for- 

 tunate, that the two years of scarcity were suc- 

 ceeded by two events the best calculated to restore 

 plenty and cheapness — an abundant harvest, and 

 a peace; which together produced a general con- 

 viction of plenty, in the minds both of buyers and 

 sellers ; and by rendering the first slow to pur- 

 chase, and the others eager to sell, occasioned a 

 glut in the market, and a consequent rapid fall of 

 price, which has enabled parishes to take off their 

 allowances to the poor, and thus to prevent a 

 return of high prices, when the alarm among the 

 sellers was over. 



If the two years of scarcity had been succeeded 

 merely by years of average crops, I am strongly 

 disposed to believe, that, as no glut would have 



