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poverty of the public in such a situation。 Not only the sovereign
receives less money； but the same money goes not so far as in times of
industry and general commerce。 Every thing is dearer； where the gold
and silver are supposed equal； and that because fewer commodities come
to market； and the whole coin bears a higher proportion to what is to
be purchased by it； whence alone the prices of every thing are fixed
and determined。
Here then we may learn the fallacy of the remark； often to be met
with in historians； and even in common conversation； that any
particular state is weak； though fertile； populous； and well
cultivated； merely because it wants money。 It appears； that the want
of money can never injure any state within itself： For men and
commodities are the real strength of any community。 It is the simple
manner of living which here hurts the public； by confining the gold
and silver to few hands； and preventing its universal diffusion and
circulation。 On the contrary； industry and refinements of all kinds
incorporate it with the whole state； however small its quantity may
be： They digest it into every vein； so to speak； and make it enter
into every transaction and contract。 No hand is entirely empty of it。
And as the prices of every thing fall by that means； the sovereign has
a double advantage： He may draw money by his taxes from every part of
the state； and what he receives； goes farther in every purchase and
payment。
We may infer； from a comparison of prices； that money is not more
plentiful in CHINA； than it was in EUROPE three centuries ago： But
what immense power is that empire possessed of； if we may judge by the
civil and military establishment maintained by it？ POLYBIUS tells us；
that provisions were so cheap in ITALY during his time； that in some
places the stated price for a meal at the inns was a semis a head；
little more than a farthing！ Yet the ROMAN power had even then subdued
the whole known world。 About a century before that period； the
CARTHAGINIAN ambassador said； by way of raillery； that no people lived
more sociably amongst themselves than the ROMANS； for that； in every
entertainment； which； as foreign ministers； they received； they still
observed the same plate at every table。 The absolute quantity of the
precious metals is a matter of great indifference。 There are only two
circumstances of any importance； namely； their gradual encrease； and
their thorough concoction and circulation through the state； and the
influence of both these circumstances has here been explained。
In the following Essay we shall see an instance of a like fallacy
as that above mentioned； where a collateral effect is taken for a
cause； and where a consequence is ascribed to the plenty of money；
though it be really owing to a change in the manners and customs of
the people。
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the End