er of either to disprove. While Dr. Price, Mr. Eden, (now
Auckland), Mr. Chalmers, and others, were debating whether the quantity
of money in England was greater or less than at the Revolution, the
circumstance was not adverted to, that since the Revolution, there
cannot have been less than four hundred millions sterling imported into
Europe; and therefore the quantity in England ought at least to have
been four times greater than it was at the Revolution, to be on a
proportion with Europe. What England is now doing by paper, is what she
would have been able to do by solid money, if gold and silver had come
into the nation in the proportion it ought, or had not been sent out;
and she is endeavouring to restore by paper, the balance she has lost by
money. It is certain, that the gold and silver which arrive annually
in the register-ships to Spain and Portugal, do not remain in those
countries. Taking the value half in gold and half in silver, it is about
four hundred tons annually; and from the number of ships and galloons
employed in the trade of bringing those metals from South-America to
Portugal and Spain, the quantity sufficiently proves itself, without
referring to the registers.

In the situation England now is, it is impossible she can increase in
money. High taxes not only lessen the property of the individuals, but
they lessen also the money capital of the nation, by inducing smuggling,
which can only be carried on by gold and silver. By the politics which
the British Government have carried on with the Inland Powers of Germany
and the Continent, it has made an enemy of all the Maritime Powers, and
is therefore obliged to keep up a large navy; but though the navy is
built in England, the naval stores must be purchased from abroad, and
that from countries where the greatest part must be paid for in gold
and silver. Some fallacious rumours have been set afloat in England to
induce a belief in money, and, among others, that of the French refugees
bringing great quantities. The idea is ridiculous. The general part of
the money in France is silver; and it would take upwards of twenty of
the largest broad wheel wagons, with ten horses each, to remove one
million sterling of silver. Is it then to be supposed, that a few people
fleeing on horse-back or in post-chaises, in a secret manner, and having
the French Custom-House to pass, and the sea to cross, could bring even
a sufficiency for their own expenses?

When mill