Page:William Petty - Economic Writings (1899) vol 1.djvu/188

88 make strangers use more of our Commodities then they want; for although the first year they should carry away an unuseful and superfluous proportion, yet afterwards they would take so much the less.

14. If this be true, as in substance it is, why then have so many wise States in several ancient, as well as modern times frequently practised this Artifice, as a means to draw in money into their respective Dominions.

I answer, that something is to be attributed to the stupidity and ignorance of the people, who cannot of a sudden understand this matter: for I finde many men wise enough, who though they be well informed that raising of money signifies little, yet cannot suddenly digest it. As for example, an unengaged person who had money in his purse in England, and should hear that a shilling was made fourteen pence in Ireland, would more readily run thither to buy Land then before; not suddenly apprehending, that for the same Land which he might have bought before for six years Purchase, he shall now pay seven. Nor will Sellers in Ireland of a sudden apprehend cause to raise their Land proportionally, but will at least be contented to compound the business, viz. to sell at six and an half; and if the difference be a more ragged fraction, men under a long time will not apprehend it, nor ever be able exactly to govern their practice according to it.

15. Secondly, Although I apprehend no little real difference between raising Forreign Money to double, and abasing half in the price of our own Commodities, yet to sell them on a |69| tacite condition to be paid in Forreign present Money, shall increase our money; forasmuch as between raising the money, and abasing the price, is the same difference as between selling for money and in barter, which latter is the dearer; or between selling for present money, and for time; barter resolving into the nature of uncertain time.

16. I say, suppose English Cloth were sold at six shillings a Yard, and French Canvas at eighteen pence the ell, the question is, whether it were all one in order to increase errata: