JB/003/134/001

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Paper Mischief

Besides scarcity bad seasons the temporary cause of diminution of
income produced by and the remediable permanent deficiency of
the articles comprizing the principal part of the food subsistence of the community
bread corn, a remed there are two permanent
causes of reduction of income – diminution of
the rate of profit on stock, and thereby whence
also in the general rate of interest on – and encrease
in the relative quantity of money – cash and paper
taken together. Of those two causes, the former
is the inseparable concomitant of general opulence
and prosperity, and admitts of is altogether unsusceptible
of anything that can be termed a remedy:
silver the only thing that could operate a change
in this respect by which the inconvenience such as
it is could be prevented would be a diminution
in the relative quantity of stock, in other words,
the substituting to a state of general opulence and prosperity
a state of general impoverishment and adversity.

The latter is within the reach of . The
sure will consist – 1. in te restraining the encrease
of paper money: and 2. in the restraining, or
at least forbearing ceasing to encourage the encrease of cash.

I have a capital of £10,000. by the reduction it brings the income
it brings me in is £500 a year. By the reduction
of interest from 8 per Cent to 4 per Cent
I lose £100 and am reduced in name as
well as in effect to £400. Meantime prices
have risen to such a pitch that my present
£400 goes no further in the purchase of the articles
of which my expenditure is composed, than £300
of it went before. In addition to the loss of £100 a year in
name as well as effect, I thus suffer another the loss of another £100⊞ ⊞ £100 in effect though not in name.

Identifier: | JB/003/134/001 "JB/" can not be assigned to a declared number type with value 3.
Date_1		Marginal Summary Numbering	not numbered
Box	003	Main Headings	manual of political economy
Folio number	134	Info in main headings field	paper mischief?
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering
Penner	jeremy bentham	Watermarks	<…>m 1798
Marginals	jeremy bentham	Paper Producer
Corrections		Paper Produced in Year	1798
Notes public		ID Number	1544
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