money answers all things-第33章
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d to it； but I believe if we had no Banking； and our Specie were as coarse and bulky as theirs； the Merchants would soon find it convenient to introduce this Practice amongst them； and no doubt would discharge it as honourably； and then large Payments might be made almost as quick as Draughts on the Bankers with the Entries they occasion； and the necessary Settlements with the Bankers about them afterwards； besides； that the vast Damage arising by Failure of Bankers； would this Way be intirely prevented。
22。 The Indians are so politick； as to take only or chiefly Silver； because it's next to impossible it should ever be so plentiful； as to reduce its Value in respect of Gold； which to be sure they know to be continually growing so plentiful in Europe； as to lower its Value in respect of Silver； besides Silver being of so much less value than Gold can't be much diminished but it will be obvious； nor is there near the Temptation to counterfeit it。 What is it therefore； which infatuates us and other Nations to such a Degree； as to carry the Indians almost all our Silver？ The Author of the Plan of the English Commerce； 2d Edition printed 1730； will answer this Question for me； for Page 65； he says； China and India； and other Eastern Countries have the most extended Manufactures； and the greatest Variety of them in the World； and their Manufactures push themselves on the World by the meer Stress of their Cheapness； which causes their Consumption； and Page 66； he says； the Wages of their labouring People do not exceed two Pence Sterling per Day。
23。 If there were full Employment for the working People； their Wages would as certainly rise to the just Value of Labour； as we know every thing else doth； for which the Demand is equal to the Quantity； and therefore I deny that there is Work enough to employ the People； or that Property is reasonably or sufficiently diffused； till Necessaries are rendered so plentiful； and thereby so cheap； that the Wages of the labouring Man will purchase as many of them as the decent and comfortable Support of a middling Family requires in that Station of Life。
24。 E。 Phillips； Page 44； says； I believe I shall be allowed to compute the Rents of the Kingdom at 20 Millions。
25。 All taxes on commodities of universal Consumption raise； at least； 10 per cent more than their Rate on the People； because the Dealers in those Commodities exact that Interest for the Money advanced for the Tax； If I put this Exceeding at 15 per cent； I believe Experience will justify me。 See Fog's Journal of February the 20th； 1732…3。 If we consider that Taxes on Goods inhance the Charge of Living； and consequently of Labour； in some Degree at least； we can't doubt but that the Taxes on Goods must inhance their Price to the Consumer； at least as much as I have supposed； because Labour enters so essentially into every thing； as to constitute the chief Value thereof。
26。 In a Mass of People； there is not above one half labouring or manufacturing。 For suppose we have 8 Millions of People； and that the Limits of the Age of Labour be placed between 13 and 63； and that 2/3 of the People are between these Ages； from these we must deduct at least 1/6； under the following Classes； Female； sequestered from Labour by the Condition of their Sex； the Idle； by Rank or Choice； Men of Profession； such as vend the Manufacture of others； but add no real Value to them； the Sick and Impotent。 By this Computation； there only remains one half labouring or manufacturing。 I am persuaded I put the Number too high； and that there are not above three Millions of working People。 The Price of Labour is raised in proportion to the Scarcity of Labourers； they being somewhat like their Commodities； dear in Proportion to their Scarcity： Any Number of labouring People sitting idle increaseth the Price of Labour； double of the Proportion which that Number bears in the whole。 For Example： Suppose three Millions of labouring People； and 30；000 Men carrying Arms； or levying Taxes； 30；000 is one per cent on 3 Millions； and these living on the Labour of the rest makes another one per cent in all two； or double of that Proportion。 See Fog's Journal of January 20th； 1732…3。
27。 See the last Paragraph of the Spectator； no。 200。
28。 The Sum coin'd in Queen Elizabeth's Time； who reform'd most of the old Specie； shews we then had not much Money amongst us； whereas the Sums coin'd in the Reigns of King Charles IId； and King James IId； being 6 Millions and an Half of Gold； and 2；200；000 in Silver； shew we had a vast Balance in our Favour； near 9 Millions being coin'd during these two Reigns。 And this suggests that my Argument is just； that asserts the vast Increase of People during these Reigns； was owing to such a vast Balance of Trade in our Favour。
29。 Mr Richard Bradley； Professor of Botany in the University of Cambridge； and Fellow of the Royal Society； in his Philosophical Inquiry into the ate sever Winter； and Scarcity and Dearness of Provisions； printed 1729； page 5 and 6； says； 〃It was generally computed that we had in England； in the Year 1715； about 13 Millions Sterling Money； of which it was reckon'd there were about 11 Millions circulating： But since the Year 1720； and from thence to 1724 or 1725； there were scarce 7 Millions supposed to circulate； which； he says； must necessarily hurt the poorer Sort of People；〃 and I say； every other sort in general with them； though not in the same Degree； perhaps； because； we know； as the Proverb says； the weakest must go to the Wall。
30。 Fog's Journal of January 20； 1738 says； the Interest due to Foreigners upon the Publick Funds； may be put at 400；000 l。 per Annum： If so； we must owe them at least 10 Millions； for that Sum at 4 per cent comes to but 400；000 l。 and if we reckon the Interest lower； the Principal must be greater in such Proportion。
31。 That the Trade of this Metropolis is so much worse than it formerly was； is ascribed to the Peace； which hath open'd the Trade of all the Ports of the Kingdom； so that they can carry on Foreign Trade in most of them； which during the War was chiefly carried on at this Port only； the Trade of the other Ports not being considerable enough to obtain Convoys； without which hardly any foreign Trade could be carried on in War time。 In answer to which； I shall only observe； that all the Ports in the Kingdom whereas open and free to carry on foreign Trade； during most part of the Period； in which it hath been shewn the People in London； Westminister； and Suburbs doubled； as those Ports have been since the Utrecht Peace。
32。 Let us see how many Gentlemen we may be supposed to have in the Kingdom； by dividing the whole Rental of 20 Millions into L。 500 per Annum； for each Gentlemen； at a Medium； which I am sure is cutting it into as Pieces as it can be reasonably imagin'd there are Gentlemen that subsist solely on their Estates。 Now 20 Millions divided by 500 gives 40；000； the Number of Gentlemen which； on this Supposition； live on their Estates in this
Kingdom； But if we consider how many large Estates there are； and how few Gentlemen can subsist on L。 500 per annum； as the Prices of Things now go； it's very likely there are near this Number of Gentlemen that subsist solely on their Estates。 And yet this Number； which； including their Families； with Servants and all； I shall put at 8 souls at a Medium； is but 1/25 Part of 8 Millions of People； which are supposed to be the least we have in the Kingdom。 the rest therefore； except such as have Places under the Government； must necessarily be subsisted by Trade or Labour； and their Number must； by this Rule； be more than 19/20 of all the People in the Kingdom； as I have asserted above。
33。 Leghorn； Nov。 7。 The Emperor hath strictly prohibited the Exportation of Corn from Naples and Sicily。 Whence we hope the Demand for British Corn in Spain and Italy； will be so great； as to save our Farmers from the inevitable Ruin which must otherwise have attended them。 London and Whitehall Evening Posts of Nov。 17； 1733。
34。 If the Wants of the People are too much abridged； they must on that Account want Employment； and lose Time； which will made the rest of the Time they work more valuable； seeing they must have a
