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11 15
Abstract
Ch. XVI. Rise of Prices
Circulatg
would have been without it: if it goes out of the
country, any part of it, so much the better still: for
it is not — cannot be sent out of the country,
but in exchange for other things, which in the
country into which they are thus imported are of still
superior value. (a)
(a)
Propensity to
exaggerate the
value of gold
and silver
(a) That gold and silver are articles of transcendent
value, is not to be disputed: - that in all ordinary cases by means
of a certain quantity of them you can have a proportionable
quantity of every any thing else at pleasure
which is what can not be said of any other sort
of thing. is not less indispensable: it is to this
universal exchangeability and to the physical
properties for which they are indebted to it that gold and
silver owe a great no small part of their of their value. But
still their value how transcendent soever has its
limits: and to say that a guinea's worth of
gold
is worth a farthing more than a guinea's
worth of dung would be, in political economy, as
flagrant an absurdity. as in physics it would
be to say that a pound of lead was heavier than
a pound of feathers: - in both it would be a contradiction
in terms.
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jeremy bentham |
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