Page:Thoughts on the causes and consequences of the present high price of provisions.djvu/18

[ 10 ] ficiently Informs us. The value of money at the time of the Norman conquest was near twenty times greater than at present; and it has been gradually decreasing from that period, in proportion as our riches have increased: it has decreased not less than one third during the present century; and I believe one half at least of that third since the commencement of the last war, which I doubt not, could it be exactly computed, would be found to be in due proportion to the increase of its quantity, either in real or fictitious cash; and that the price of provisions is advanced in the same proportion, during the same period.

The increase of money does not only operate on the price of provisions by the diminution of its own value, but by enabling more people to purchase, and consequently to consume them; which must unavoidably likewise increase their scarcity, and that must still add more to their price. Twenty rich families will con- sume