★ Keep up to date with the latest news - subscribe to the Transcribe Bentham newsletter; Find a new page to transcribe in our list of Untranscribed Manuscripts
Abstract
Ch XIV of Price
Every addition &c
Illustration
Let £6,000,000 be the quantity of freshextra influx
money introduced into the circulation in the compass
of the year: let the quantity of extra labour
produced by this freshextra influx be equal to full
employment for £100,000 fresh hands. [+] Call the [+] The allowance
would be perhaps
sufficient as applied to for the
whole amount of fresh
labour produced within
the year by the existing
all causes the pri existing
gradually operating
quantity of money
and the supposed extra
quantity taken
together: applied therefore
to the labour alone
it will be excessive -
But for illustration
it may serve as well
as if it were more
correct. It is not
a matter of necessity
perfectly clear that
any very considerable
addition at all to
the mass of vendable
commodities will shall have
been produced by the
extra influx of money
since a particular application
oof the exacting
quantity of money in the
country without any
accession to it whatsoever
is altogether competentadequate,
the producing the utmost
possible deggree of accumulation[+]
average value the produce of their labour 12s a week for
each: this in round numbers, will be £3,000,000
a year, £3,000,000 a year then is the quantity
of money extra influx which remaining and which can
the efficiency of which is spent altogether in
degrading the value of the mass into which it
flows, and producing the correspondent rise in the
price of vendable commodities.
[+] But for illustration sake the supposed state of things may
serve as well as if it were more correct.