Page:William Petty - Economic Writings (1899) vol 1.djvu/190

90 signifie onely an artificial value, not a natural; because the comparison is between a thing naturally useful, and a thing in it self unnecessary, which (by the way) is part of the reason why there are not so great changes and leaps in the proceed of Silver as of other Commodities.

Thirdly, That natural dearness and cheapness depends upon the few or more hands requisite to necessaries of Nature: As Corn is cheaper where one man produces Corn for ten, then where he can do the like but for six; and withall, according as the Climate disposes men to a necessity of spending more or less. But Political Cheapness depends upon the paucity of Supernumerary Interlopers into any Trade over and above all that are necessary, viz. Corn will be twice as dear where are two hundred Husbandmen to do the same work which an hundred could perform: the proportion thereof being compounded with the proportion of superfluous expence, (viz. if to the cause of dearness abovementioned be added to the double Expence to what is necessary) then the natural price will appear quadrupled; and this quadruple Price is the true Political Price computed upon naturall grounds.

And this again proportioned to the common artificiall Standard Silver gives what was sought; that is, the true Price Currant.

18. But forasmuch as almost all Commodities have their Substitutes or Succedanea, and that almost all uses may be answered several wayes; and for that novelty, surprize, example of Superiours, and opinion of unexaminable effects do adde or take away from the price of things, we must adde |71| these contingent Causes to the permanent Causes abovementioned, in the judicious foresight and computation whereof lies the excellency of a Merchant.

Now to apply this Digression, I say, that to encrease Money, it is as well necessary to know how to abate the raise, the price of Commodities, and that of Money, which was the scope of the said Digression.

19. To conclude this whole Chapter, we say, that raising errata: