JB/002/241/001

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3 Oct. 1800

Ch.XII Con
1
Another advantage
acting as a safeguard
to commercial
credit - by applying
occasional de
in the quantity of
money in circulation

Another property advantage , resulting from the nature
of the proposed paper, is — the addition it
will be found to make makes to commercial security — the protection support
it affords to commercial credit.— It not only isThe use of it is
not liable to the inconveniences<add>hooks failures</add>attached to other <add>the use of</add>other papersexempt from the dangers to which all other paper
money is expos fromby the very nature of it exposed: but
is of itself of a nature to act as an instrument of security, guarding the
community against those dangers to which it stand
at present exposed by the constitution of those other papers.

2
Features to which
it owes the property
1. Adding nothing
to the mass of pecuniary
engagements.
2. Acting as money
or as Stock at pleasure —

this a valuable property thus valuable it is indebted to two features
belonging to it. interwoven with the existence spence and
altogether peculiar to it — It is by this feature that it is
itself preserved from that brittleness which is of the spence of those other papers.One is — the making no addition by its quantity
to the quantity of moneycash engaged for.— It is by this
feature that it is itself preserved from that brittleness which is of
the spence of these other papers.
The other is — the capacity faculty of being employ'd
in either of two capacities at pleasure: — 1. as a
permanent source of income like so much Stock so long as it is
kept in the same hand: —2— at a circulating medium
a spence of money, as often as it is passed on from
one hand to another. It is by this bitter feature that it is
rendered capableenabled to fill up whatever gaps may come come to be made
in the quantity of money in circulation necessary to by
a deficiency in the quantity of three other papers.

That

Metadata:JB/002/241/001