 | Adam Smith - 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 - 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 - 1804 - 456 pages
...writer informs us, in another place, that " the i substitution of paper in the room of gold and silver money, replaces- a very expensive instrument of commerce...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... | |
 | Adam Smith - 1811 - 532 pages
...labour, the real revenue of every society. The substitution of paper in the room of gold and silver money, replaces a very expensive instrument of commerce...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 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 - 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 - 1819 - 532 pages
...labour, the real revenue of every society. 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 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 - 1829 - 154 pages
...considered equivalent to their actual delivery. This substitution of paper, in the room of gold and silver money, replaces a very expensive •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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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... 
