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quantityofney;thesapieces,byarerapidcirculation,servingastheinstruntofnyrepurchasesoftheonekindthanoftheother
papeeyybesoregulatedaseithertonfineitselfverychtothecirculationbethedifferentdealers,ortoextenditselflikeoagreatpartofthatbethe
dealersandthensursesarecirculated
undertenpoundsvalue,asinlondon,papeeynfinesitselfverychtothecirculationbethedealersen
poundbanknoteesintothehandsofansur,heisgenerallyobligedtochangeitatthefirstshopwherehehasoccasiontopurchasefiveshillingshofgoods,sothatitoftenretusintothehandsofadealerbeforethensurhasspentthefortiethpartoftheneyesareissuedforsosllsuastyshillings,asinstland,paperneyextendsitselftoansiderablepartofthecirculationbetersbeforetheaent,
astoptothecirculationoftenandfiveshillingnotes,itfilledastillgreaterpartofthatcirculationintheerica,papelyissuedforso
sllasusashilling,andfilledalstthehat
epapercurrenciesofyorkshire,itwasissuedevenforsosllasusasixpence
allsuis
allonlypractised,nyanpeoplearebothenabledandenuragedtobeebankersapersonissorynoteforfivepounds,orevenfortyshillings,ed
byeverybody,ittobereceivedhoutscruple
isissuedforsosllasusasixpencebutthefrequentbankruptay
oetisevena
verygreatcalatytonypoorpeopleheir
notesinpaynt
itter,perhaps,thatnobanknoteswereissuedinanypartofthekingdoorasllersuhanfivepoundspaperneyhen,probably,nfineitself,ineverypartofthekingdotothecirculationbethedifferentdealers,aschasitdoesatpresentinlondon,esare
issuedundertenpoundsvalue;fivepoundsbeing,instpartsofthekingdoasure
thanhalfthequantityofgoods,isaschnsidered,andisasseldopentallatonidsttheprofuse
expenseoflondon
oney,itistobeobserved,isprettych
nfinedtothecirculationbet
london,thereisalyofgoldandsilver
extendsitselftoansiderablepartofthecirculationbetweendealersandnsurs,asinstland,andstillreinnorthariostentirelyfrohe
untry;alstalltheordinarytransactionsofitsinteriorrcebeingthuscarriedonbypaperthesuppressionoftenandfiveshillingbanknotessorelievedthescarcityofgoldandsilverinstland;andthesuppressionoftyshillingnotesorethosetals
aresaidtohavebeereabundantinaricasincethesuppressionofsooftheirpapercurrenciestheyaresaid,likeoreabundantbeforetheinstitutionof
thosecurrencies
thoughpapeeyshouldbeprettychnfinedtothecirculationbetbanksandbankers
ghtstillbeabletogivenearlythesaassistancetotheindustryandrceoftheuntryastheyhaddonewhenpaperneyfilledalsttheoneyh
adealerisobligedtokeepbyhiforanscasionaldends,isdestinedaltogetherforthecirculationbetweenhielfandotherdealersofhebuysgoodshehasnooforthecirculationbetself
andthensurs,ers,andwhobringready
neytohiinsteadoftakinganyfroithoughnopaperney,therefore,sas
uchtothecirculationbetweendealers
anddealers,yet,partlybydisuntingrealbillsofexchange,andpartlybylendinguponcashacunts,banksandbankersghtstillbeabletorelievethegreaterpartofthosedealersfrobr >thenecessityofkeepinganynsiderablepartoftheirstockbytheuneloyedandinreadyney,foranscasionaldendstheyghtstillbeabletogivetheutstassistancehpropriety,givetotradersof
everykind
torestrainprivatepeople,itybesaid,froeceivinginpaynttheprossorynotesofabanker,foranysuergreatorsll,selvesare,
ortorestrainabankerfrossuingsuchnotes,whenallhisneighboursare,isanifestviolation
ofthatnaturallibertyistheproperbusinessoflawnottoinfringe,buttosupportsuay,nodoubt,bensideredasinsorespectsaviolationofnaturallibertybutthoseexertionsofthenaturallibertyofafewindividuals,ightendangerthesecurityofthey,are,and
oughttobe,restrainedbythelaents,ofthe
stfreeasostdespoticaltheobligationof
buildingpartynicationof
fire,isaviolationofnaturallibertyexaekindhtheregulationsofthebankingtradeharehereproposed
apapeeynsistinginbanknotes,issuedbypeopleofundoubtedandhoutanyndition,and
infactaled,is,inevery
respeoney;sincegoldand
silveeycanatanytibehadforiteveriseitherboughtorsoldforsuchpaperstnecessarilybeboughtorsoldascheapasituldhavebeenforgoldandsilver
theinoney,ithasbeensaid,byaugnting
thequantity,andnsequentlydinishingthevalueofthewholeodities
butasthequantityofgoldandsilver,the
currency,isalothequantityofpaperhisaddedtoit,papeeydoesnotnecessarilyincreasethequantityofthethebeginningofthelastcenturytothe
presentti,provisionsneverlandthanin
1759,though,frohecirculationoftenandfiveshillingbanknotes,thereorepapeeyintheuntrythanat
presenttheproportionbethepriceofprovisionsinstlandandthatinenglandis
