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

:PAPER MONEY VINDICATED 67pondent bearing on the actual price ; the thermometerdoes not more strictly respond to theincrease of temperature, than the scale of actualprice does to the demands of taxation.But ifthis is the case with respect to corn, it must beequally true of all other commodities. And ifthis be the case in the ascending series, it willbe no less true in the descending. Let thenthe issue of good paper money be free ; letGovernment circulate whatever isnecessary forthe collection of the revenue, leaving the rest tobanking companies, or to such private bankersas the community are willing to trust, and weshall be no more troubled with prices beingtoo high or too low. As the debt diminishes,prices will most certainly decline, and till thenthey ought not to do so. It is not even theinterest of government that they should.As forcum laws, restrictiojis on importation, and bountieson exportation, the sooner they are all doneaway with, the better;for at best they are useless.We have now to consider how far the assertionof the Editor of the Tivies istrue" That the Currency Club, in fact, propose to commitan open fraud, by means of a bank noteengraver, acting under cover of an Act ofParliament, lohen they cannot perpetrate a directrobbery by destroying the bond, withoutincurring the penalties of the law."f2