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money introduced into the circulation in the compass<lb/> | money introduced into the circulation in the compass<lb/> | ||
of the year: <del><gap/></del> let the quantity of extra labour<lb/> | of the year: <del><gap/></del> let the quantity of extra labour<lb/> | ||
produced by this fresh<add>extra</add> influx be<lb/> | produced by this fresh<add>extra</add> influx be equal to full<lb/> | ||
employment | employment for £100,000 fresh hands. <add>[+]</add> Call the <note><add>[+]</add> The allowance<lb/> | ||
would be perhaps<lb/> | would be perhaps<lb/> | ||
sufficient <add>as applied to</add> for the<lb/> | sufficient <add>as applied to</add> for the<lb/> | ||
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labour produced within<lb/> | labour produced within<lb/> | ||
the year by <del>the existing</del><lb/> | the year by <del>the existing</del><lb/> | ||
all causes the <add><del>pri</del></add> existing<lb/> | |||
<del>gradually operating</del><lb/> | <del>gradually operating</del><lb/> | ||
quantity of money<lb/> | quantity of money<lb/> | ||
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been produced by the<lb/> | been produced by the<lb/> | ||
extra influx of money<lb/> | extra influx of money<lb/> | ||
since a particular | since a particular application<lb/> | ||
of money in the<lb/> | of money in the<lb/> | ||
country < | country <unclear>without</unclear> any <lb/> | ||
accession to it whatsoever<lb/> | accession to it whatsoever<lb/> | ||
is altogether competent<add>adequate</add>,<lb/> | is altogether competent<add>adequate</add>,<lb/> | ||
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
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.
