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<head>Exchequer Notes 7</head><!-- written in pencil --> | <head>Exchequer Notes 7</head><!-- written in pencil --> | ||
<head>Text cont<hi rend='superscript'>d</hi><!-- 2 words, written in red ink, and double-indented --></head> | <head>Text cont<hi rend='superscript'>d</hi><!-- 2 words, written in red ink, and double-indented --></head> | ||
<p>currency the use and need of it is the same . The loss | <p>currency the use and need of it is the same. The loss | ||
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to which the subject was exposed by metal money | to which the subject was exposed by metal money | ||
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coined by individual hands was that of the difference | coined by individual hands was that of the difference | ||
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between genuine metal and of full weight , and | between genuine metal and of full weight, and | ||
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<add>the coin</add> metal of light weight or base alloy that might be | <add>the coin</add> metal of light weight or base alloy that might be | ||
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expected <add>apprehended</add> from individuals . | expected <add>apprehended</add> from individuals. The loss to which the subject | ||
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is exposed from bad paper currency is of the | is exposed from bad paper currency is of the | ||
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same kind but much heavier in degree . Loss by | same kind but much heavier in degree. Loss by | ||
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bad metal currency distributes itself in small parcels , | bad metal currency distributes itself in small parcels, | ||
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and <del>becomes in a manner</del> by the minuteness of the | and <del>becomes in a manner</del> by the minuteness of the | ||
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portions to which it adheres falls with a gentle and | portions to which it adheres falls with a gentle and | ||
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almost imperceptible stroke . | almost imperceptible stroke. Loss by bad paper falls | ||
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in <del>large masses in to</del> much larger masses . Loss by | in <del>large masses in to</del> much larger masses. Loss by | ||
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bad copper is as nothing : | bad copper is as nothing: loss by bad silver is no | ||
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great matter : <add>even</add> loss by bad gold is light in comparison | great matter: <add>even</add> loss by bad gold is light in comparison | ||
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of the average rate of loss upon a bad bill. | of the average rate of loss upon a bad bill. | ||
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is stronger than in the old one in every point of | is stronger than in the old one in every point of | ||
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view. | view. The loss that government endeavours to <sic>servise</sic> <add>save</add> | ||
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the subject from by the monopoly of the <del><gap/></del> <add>coinage</add> metal | the subject from by the monopoly of the <del><gap/></del> <add>coinage</add> metal | ||
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currency , it succeeds but very imperfectly in saving | currency, it succeeds but very imperfectly in saving | ||
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him from : Coiners are <del>made</del> <add>punished as</add> Traitors , and yet | him from: Coiners are <del>made</del> <add>punished as</add> Traitors, and yet | ||
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the country swarms with <del>silver</del> <add>coiners.</add> . The copper is three-fourths | the country swarms with <del>silver</del> <add>coiners.</add>. The copper is three-fourths | ||
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of it bad: the <add>pretended</add> silver a great deal of it worth | of it bad: the <add>pretended</add> silver a great deal of it worth | ||
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nothing and <del>none been</del> there is scarce any that is not | nothing and <del>none been</del> there is scarce any that is not | ||
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counterfeit and light . <del>In</del> protecting <add><del>To</del> saving</add> the subject from <add>bad</add> | counterfeit and light. <del>In</del> protecting <add><del>To</del> saving</add> the subject from <add>bad</add> | ||
<lb/></p> | <lb/></p> | ||
Exchequer Notes 7
Text contd
currency the use and need of it is the same. The loss
to which the subject was exposed by metal money
coined by individual hands was that of the difference
between genuine metal and of full weight, and
the coin metal of light weight or base alloy that might be
expected apprehended from individuals. The loss to which the subject
is exposed from bad paper currency is of the
same kind but much heavier in degree. Loss by
bad metal currency distributes itself in small parcels,
and becomes in a manner by the minuteness of the
portions to which it adheres falls with a gentle and
almost imperceptible stroke. Loss by bad paper falls
in large masses in to much larger masses. Loss by
bad copper is as nothing: loss by bad silver is no
great matter: even loss by bad gold is light in comparison
of the average rate of loss upon a bad bill.
6 3. — for which there is more occasion in the instance of paper than in that of coin The motive justification of for the monopoly in the new case
is stronger than in the old one in every point of
view. The loss that government endeavours to servise save
the subject from by the monopoly of the coinage metal
currency, it succeeds but very imperfectly in saving
him from: Coiners are made punished as Traitors, and yet
the country swarms with silver coiners.. The copper is three-fourths
of it bad: the pretended silver a great deal of it worth
nothing and none been there is scarce any that is not
counterfeit and light. In protecting To saving the subject from bad
