 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...  The Money Question - Page 193by Henry V. Poor - 1898Full view - About this book
 | Adam Smith - Economics - 1789 - 526 pages
...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, is... | |
 | Henry Thornton - Credit - 1802 - 332 pages
...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 - Law - 1804 - 456 pages
...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...a new wheel, which it costs less both to erect and to maintain than the old one. — There are several sorts of paper money; but the circulating notes... | |
 | 1810 - 326 pages
...replaced by one much less costly. Circulation comes to be carried on by a new wheel, which Vol. I. o it it costs less both to erect and maintain than the old one." But, besides this, a paper-currency is attended with other advantages. Mr Hume has clearly shown that every... | |
 | Adam Smith - 1811 - 532 pages
...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 - Economics - 1812 - 520 pages
...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 performed,... | |
 | Adam Smith - Economics - 1812 - 582 pages
...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 performed,... | |
 | Adam Smith - Economics - 1819 - 532 pages
...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 pages
...is added to the goods which are 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.... | |
 | Sir John Sinclair - Coinage - 1829 - 154 pages
...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,... | |
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