there; and that, if the quantity of 
victuals were to increase, the number of pots 
and pans would readily increase along with it; 
a part of the increased quantity of victuals 
being employed in purchasing them, or in 
maintaining an additional number of workmen 
whose business it was to make them. It should 
as readily occur, that the quantity of gold and 
silver is in every country limited by the use 
which there is for those metals; that their use 
consists in circulating commodities, as coin
and in affording a species of household furniture, 
as plate; that the quantity of coin in 
every country is regulated by the value of the 
commodities which are to be circulated by it; 
increase that value, and immediately a part of 
it will be sent abroad to purchase, wherever it 
is to be had, the additional quantity of coin 
requisite for circulating them: that the quantity 
of plate is regulated by the number and 
wealth of those private families who choose to 
indulge themselves in that sort of magnificence; 
increase the number and wealth of 
such families, and a part of this increased 
wealth will most probably be employed in 
purchasing, wherever it is to be found, an 
additional quantity of plate; that to attempt to 
increase the wealth of any country, either by 
introducing or by detaining in it an unnecessary 
quantity of gold and silver, is as absurd 
as it would be to attempt to increase the good 
cheer of private families, by obliging them to 
keep an unnecessary number of kitchen utensils
As the expense of purchasing those unnecessary 
utensils would diminish, instead of 
increasing, either the quantity or goodness of 
the family provisions; so the expense of purchasing 
an unnecessary quantity of gold and 
silver must, in every country, as necessarily 
diminish the wealth which feeds, clothes, and 
lodges, which maintains and employs the people
Gold and silver, whether in the shape 
of coin or of plate, are utensils, it must be remembered
as much as the furniture of the 
kitchen. Increase the use of them, increase 
the consumable commodities which are to be 
circulated, managed, and prepared by means 
of them, and you will infallibly increase the 
quantity; but if you attempt by extraordinary 
means to increase the quantity, you will as infallibly 
diminish the use, and even the quantity 
too, which in these metals can never he 
greater than what the use requires. Were 
they ever to be accumulated beyond this quantity
their transportation is so easy, and the 
loss which attends their lying idle and unemployed 
so great, that no law could prevent 
their being immediately sent out of the 
It is not always necessary to accumulate 
gold and silver, in order to enable a country 
to carry on foreign wars, and to maintain 
fleets and armies in distant countries. Fleets 
and armies are maintained, not with gold and 
silver, but with consumable goods. The nation 
which, from the annual produce of its 
domestic industry, from the annual revenue 
arising out of its lands, and labour, and consumable 
stock, has wherewithal to purchase 
those consumable goods in distant countries
can maintain foreign wars there. 
A nation may purchase the pay and provisions 
of an army in a distant country three 
different ways; by sending abroad either, first, 
some part of its accumulated gold and silver
or, secondly, some part of the annual produce 
of its manufactures; or, last of all, some part 
of its annual rude produce
The gold and silver which can properly be 
considered as accumulated, or stored up in any 
country, may be distinguished into three parts; 
first, the circulating money; secondly, the 
plate of private families; and, last of all, the 
money which may have been collected by many 
years parsimony, and laid up in the treasury 
of the prince
It can seldom happen that much can be 
spared from the circulating money of the 
country; because in that there can seldom be 
much redundancy. The value of goods annually 
bought and sold in any country requires 
a certain quantity of money to circulate 
and distribute them to their proper consumers, 
and can give employment to no more. 
The channel of circulation necessarily draws 
to itself a sum sufficient to fill it, and never 
admits any more. Something, however, is 
generally withdrawn from this channel in the 
case of foreign war. By the great number of 
people who are maintained abroad, fewer are 
maintained at home. Fewer goods are circulated 
there, and less money becomes necessary 
to circulate them. An extraordinary quantity 
of paper money of some sort or other, 
too, such as exchequer notes, navy bills, and 
bank bills, in England, is generally issued upon 
such occasions, and, by supplying the 
place of circulating gold and silver, gives an 
opportunity of sending a greater quantity of 
it abroad. All this, however, could afford 
but a poor resource for maintaining a foreign 
war, of great expense, and several years duration. 
The melting down of the plate of private 
families has, upon every occasion, been found 
a still more insignificant one. The French, 
in the beginning of the last war, did not derive 
so much advantage from this expedient 
as to compensate the loss of the fashion
The accumulated treasures of the prince 
have in former times afforded a much greater 
and more lasting resource. In the present 
times, if you except the king of Prussia, to accumulate 
treasure seems to be no part of the 
policy of European princes. 
The funds which maintained the foreign 
wars of the present century, the most expensive 
perhaps which history records, seem to 
have had little dependency upon the exportation 
either of the circulating money, or of the