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Annuity Notes
Ch. Micell. Effects.

Note continued

Adam Smith
7 (a)

When As the mass of currency keeps on increasing
especially if the rate of increase is rapid it is
almost impossible it should not contribute more
or less to the increase of the mass of real wealth.
On the other hand When the mass of currency is increasing, especially
if the rate of increase is rapid, it is almost impossible
that the whole force of the money influx should
be employd in the production of that effect: it is
almost impossible but that a considerable certain part of
that force should be consumed in the lowering of
the value of money (lowering its own value as well
as that of the pre-existing mass of money) in other
words in raising prices the money, of labour and goods. So
far in this Information of money [to be in fresh
quantities] to be had for labour can not be confined confine
to the particular hands who have a quantity that itself to the abstract mass of aptitude <add>possible for labour</add>
of aptitude of from labour state remaining unengaged.
It may find a few reach the ears of <add>present itself to</add>, who neither having
as yet set their hands to labour, nor would or could within
the time in question) had it not been for the additional
stock of power and inducement and means held next to them by this extra
fund: it will find present itself to others (and probably commonly in greater
number), of whose time or capacity of exertion the greater part is already employd
and who thus have only a remnant, but no more than a remnant to dispose of.
It will present itself to others whose aptitude for labour is
alreadt employ'd to the utmost, and who not having
it in their power to increase add to their performance, will
avail themselves of the information to add to their demands. So
So far as there is
the effect of it, so
far as the effect
desirable: but
and can together
good at least is impossible
to be obtained
It is a and
a against which
persons of
means have no means
of defending indemnifying themselves

Identifier: | JB/001/054/001
"JB/" can not be assigned to a declared number type with value 1.


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annuity notes

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jeremy bentham


[[watermarks::[top half of i taylor]]]


jeremy bentham

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evan nepean


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