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<note>Abstract<lb/> | |||
Ch XII Common <gap/><lb/> | |||
7<lb/> | |||
If the only paper<lb/> | |||
it would receive<lb/> | |||
these inconveniences<lb/> | |||
altogether himself a<lb/> | |||
<gap/> <gap/><lb/> | |||
other papers it<lb/> | |||
would lessen the<lb/> | |||
inconveniences the<lb/> | |||
proportion to its<lb/> | |||
amount</note><lb/> | |||
<head>Text</head> | |||
<p>Were <del>at</del><add>the proposed paper</add> the <hi rend="underline">only</hi> paper money , <del>paper money would</del><lb/> | |||
not be liable to commercial<add>national</add> wealth would not be liable<lb/> | |||
to suffer <add>either</add> in point of <hi rend="underline">quantity</hi> or in point of <hi rend="underline">security</hi><lb/> | |||
either from <hi rend="underline">excess</hi> <del>in the quantity of paper money</del><lb/> | |||
or from <hi rend="underline">deficiency</hi> in the quantity of paper money, in<lb/> | |||
any degree: since, <add>even</add> without the exercise of human<lb/> | |||
reason on the part of any <del>mone</del> body (except on<lb/> | |||
the part of each Note holder in so far as his own<lb/> | |||
particular interest - and that the interest of the <unclear>amount</unclear><lb/><lb/> | |||
<del>is</del><add>were</add> concerned)it would <del>aj</del> adjust itself, as it were<lb/> | |||
of itself, as to what concern the demand for <del>ready</del><add>circulating</add><lb/> | |||
money, to the exact <del>quantity</del><add>quantum</add> of the demand: it would<lb/> | |||
be <hi rend="underline">Stock</hi> an amount and <hi rend="underline">cash</hi> the next, whichever<lb/> | |||
interest wanted.</p> | |||
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Abstract
Ch XII Common
7
If the only paper
it would receive
these inconveniences
altogether himself a
other papers it
would lessen the
inconveniences the
proportion to its
amount
Text
Were atthe proposed paper the only paper money , paper money would
not be liable to commercialnational wealth would not be liable
to suffer either in point of quantity or in point of security
either from excess in the quantity of paper money
or from deficiency in the quantity of paper money, in
any degree: since, even without the exercise of human
reason on the part of any mone body (except on
the part of each Note holder in so far as his own
particular interest - and that the interest of the amount
iswere concerned)it would aj adjust itself, as it were
of itself, as to what concern the demand for readycirculating
money, to the exact quantityquantum of the demand: it would
be Stock an amount and cash the next, whichever
interest wanted.
