There Can Be No Rise In The

The Opinions That The Price Of Commodities Depends Solely On The Proportion Of Supply And Demand, Or Demand To Supply, Has Become Almost An Axiom In Political Economy, And Has Been The Source Of Much Error In That Science.

But A Rise In The Wages Of Labour Would Not Equally Affect Commodities Produced With Machinery Quickly Consumed, And Commodities Produced With Machinery Slowly Consumed.

In The Same Manner If Any Nation Wasted Part Of Its Wealth, Or Lost Part Of Its Trade, It Could Not Retain The Same Quantity Of Circulating Medium Which It Before Possessed.

Experience, However, Shows That Neither A State Nor A Bank Ever Have [sic] Had The Unrestricted Power Of Issuing Paper Money Without Abusing That Power; In All States, Therefore, The Issue Of Paper Money Ought To Be Under Some Check And Control; And None Seems So Proper For That Purpose As That Of Subjecting The Issuers Of Paper Money To The Obligation Of Paying Their Notes Either In Gold Coin Or Bullion.

Rent Is The Portion Of The Earth, Which Is Paid To The Landlord For The User Of The Original And Indestructible Powers Of The Soil