Publisher's Synopsis
Excerpt from An Investigation Into the Principles and Credit of the Circulation of Paper Money, or Bank Notes, in Great Britain: As Protected or Enforced by Legislative Authority, Under the Suspension of Paying Them in Cash; In the Extent of Such Paper Money, the Responsibility Attached to It, and Its Effects Upon Prices of Commodities
The forced circulation of paper money has been experienced to extingui?i the paper credit of moft nations which have hitherto reforted to it. America abandoned it: France, in fpite of her domains, found the more authority was ufed to enforce it, of the lefs value it became. Both thefe nations have been obliged to drop it, after the holders were deprived of a great part of their property, and many of them ruined. Exce?ivc paper has hitherto proved the tomb of national credit to Government, at leat'r the difappointment of the individuals confiding in it, and the breach of public confidence. It has no termination, but in it own extin�lion; it advances from a pound to a hundred, from a hundred to a thoufand, from thoufands to millions, and finally to the jundture in which the whole delufion vanifhes in the expanfion of its own magnitude. A z 4.
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