Currency fallacies refuted, and paper money ... - University Library

;14 CURRENCY FALLACIES REFUTED.and improvement of their farms, and in thevariousengagements of manufacture and commerce.From all this liveliness of business,throughout the country,a great increase to theemployment of labourers and mechanics wouldspring ;poor's rates, therefore, would diminish,taxes on consumption increase; and thus atthe end of the year, as each successive yearrolled on, we should have greater prosperitywitnessed throughout the nation, and the governmentevery year would be ableto pay offwith the surplus revenue a still greater portionof the national debt. The indirect benefitarising from an increased currency of this kind,would greatly exceed the direct advantage,large as it has been shown to be, and all thiswe lose by adhering to our present system ofcurrency.FALLACY THE FIFTH." That a facility of creating unreal wealth wouldexcite a fever of speculation, to be followed, asin1825, by convulsion and ruin .''To collect the revenue by means of Exchequerbills would be a creation of unreal wealth,according to the Editor of the Times ; but itwould have a great effect on trade and commerce,as was remarked under the last headand when men had no longer any reason tofear that as prices improved the means of sup-