Page:William Petty - Economic Writings (1899) vol 1.djvu/135

Rh head for every head in the Nation. We may easily judge, how difficult it is for men of competent estates, to pay a Summe of money on a sudden; which if they cannot compass, Severities, and Charges ensue; and that with reason, though unluckie enough, it being more tolerable to undoe one particular Member, then to endanger the whole, notwithstanding indeed it be more tolerable for one particular Member to be undone with the whole, then alone.

15. 10. It seems somewhat hard, that all Taxes should be paid in money, that is, (when the King hath occasion to Victual his Ships at Portsmouth) that Fat Oxen, and Corn should not be received in kind, but that Farmers must first carry their Corn perhaps ten Miles to sell, and turn into money; which being paid to the King, is again reconverted into Corn, fetcht many miles further.

16. Moreover, the Farmer for haste is forced to under-sell his Corn, and the King for haste likewise, is forced to over-buy his provisions. Whereas the paying in kinde, Pro Hic & Nunc, would lessen a considerable grievance to the poor people.

17. The next consideration shall be of the consequences, and effects of too great a Tax, not in respect of particular men, of which we have spoken before, but to the whole people in general: To which I say, that there is a certain measure, and proportion of money requisite to drive the trade of a Nation, more or less then which would prejudice the same. Just as there is a certain proportion of Farthings necessary in a small retail Trade, to change silver money, and |18| to even such reckonings, as cannot be adjusted with the smallest silver pieces. For money, (made of Gold and silver) is to the τὰ χρἠσα (that is to the matter of our Food and Covering) but as Farthings, and other local extrinsick money, is to the Gold and Silver species.

18. Now as the proportion of the number of Farthings requisite in comerse is to be taken from the number of people, the frequency of their exchanges; as also, and principally from the value of the smallest silver pieces of money; so in errata: