 | Adam Smith - 1789 - 526 페이지
...filver money, replaces a very expenfive: initrument of commerce with one much lefs cqftiy, and fometimes equally convenient Circulation comes to be carried on by a new wheel, which it cofts lefs both to erect and to .maintain than. the old one. But in what manner this operation,... | |
 | Henry Thornton - 1802 - 332 페이지
...to observe, that the substitution of paper, in the room of gold and silver coin, serves to replace a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. " Thus," he says, " a banker, by issuing 100,OOO/. ** in notes, keeping 20,000/. in hand for his cur"... | |
 | James Wilson, Bird Wilson - 1804 - 456 페이지
...produce of its land and labour." , . The same sensible writer informs us, in another place, that " the i substitution of paper in the room of gold and silver...Circulation comes to be carried on by a new wheel, which it costs less both to erect and to maintain than the old one. — There are several sorts of paper... | |
 | Adam Smith - 1811 - 532 페이지
...motion, and consequently the annual produce of land and labour, the real revenue of every society. The substitution of paper in the room of gold and...sometimes equally convenient. Circulation comes to bo carried on by a new wheel, which it costs less both to erect and to maintain than the old one. But... | |
 | Adam Smith - 1812 - 520 페이지
...filver money, replaces a very expenfive inftrument of commerce with one much lefs coftly. and fometimes equally convenient. Circulation comes to be carried on by a new wheel, which it cofts lefs both to erect and to maintain than the old one. But in what manner this operation is... | |
 | Adam Smith - 1812 - 582 페이지
...iilver money, replaces a very expenfive inftrument of commerce with one much lei's coftly, and fometimes equally convenient. Circulation comes to be carried on by a new wheel, which it cofts lefs both to erect and to maintain than the old one. But in what manner this operation is... | |
 | Adam Smith - 1819 - 532 페이지
...motion, and consequently the annual produce of laud and labour, the real revenue of every society. The substitution of paper in the room of gold and...instrument of commerce with one much less costly, and some. times equally convenient. Circulation comes to be carried on by a new wheel, which it costs less... | |
 | Alexander Mundell - 1825 - 244 페이지
...circulated and distributed by means of it*. Circulation comes thus to be carried on by a new wheel, which it costs less both to erect and to maintain than the old one."* While, by means of a paper currency, the * Wealth of Nations, Vol. I. p. 434, 441. value of the gold... | |
 | Sir John Sinclair - 1829 - 154 페이지
...a certain quantity of the precious metals, is considered equivalent to their actual delivery. This substitution of paper, in the room of gold and silver...•instrument of commerce, with one much less costly ; and circulation comes to be carried on by a new wheel, which costs less, both to erect and to maintain,... | |
 | 1838 - 1014 페이지
...the highest deference by practical men. " The substitution of paper in the room of gold and tftvcr money replaces a very expensive instrument of commerce...Circulation comes to be carried on by a new -wheel, which it costs less both to erect and maintain than the old one. "When the people of any particular country... | |
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The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce with one much less costly, and sometimes equally convenient. Circulation comes to be carried on by a new wheel, which it costs less both to... 
