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I had a letter from Mr. Leech when he was Director of the Mint, saying that the federal government is in possession of no data in regard to the price of gold manufacturing and none of any value in regard to silver. Silver was additionally thought-about a superb possibility but the current crash has led to uncertainty and preference is being given to gold. It could also be thought nevertheless that the coin, although it cannot be of much less, could also be, and being a manufactured article will naturally be, of greater value than the bullion contained in it, on the identical principle on which linen cloth is of extra value than an equal weight of linen yarn. 1810; and the exchanges, instead of being 15 per cent. If Government opened an workplace the place, on delivery of a given weight of yarn, it returned the same weight of cloth to anyone who asked for it, cloth can be value no extra in the market than the yarn it contained.

When examined more closely, the following are the details of the process. And as our taxes and currency are equal in amount to each other, and naturally their proportion to our earnings respectively the identical; and as their tendencies are diametrically reverse, and counteractive to one another, it essentially follows, that no matter impact is produced by a change in one, that change will work a contrary impact in the other. The new additional permanent capital which is made on these levies and expenditure, follows step by step until the last word revenue upon them becomes a set strong enhance of capital.-Let Government spend 50 further thousands and thousands in a year: these 50 tens of millions are taken from the present capital, and the advance of such a sum may even require additional foreign money; however the profit made by the individuals involved in advancing and spending these 50 thousands and thousands, does not come into activity until one, two, or three years' interval. In the following place, I discover from the late Lord Liverpool's Treatise upon Coins, that his Lordship estimates the value of the gold coin circulating in his Majesty's dominions, at 30 millions; and if we allot 5 tens of millions to Ireland, the gold coin circulating in Great Britain before the Restriction Act, was 25 thousands and thousands, and about 10 hundreds of thousands of Bank Notes, which I imagine exceeds the amount of Bank Notes and Coin now in circulation or within the Bank.

Let us additionally recollect, that if we were to regulate the quantity of our forex in Coin and Bank Notes, by the proportion of foreign money to taxes and revenue, which existed in 1790, our forex now, if measured by taxes, ought to exceed a hundred tens of millions, and if measured by revenue, ninety millions. Our taxes, including the expenses of assortment, are about fifty five thousands and thousands; our circulating medium, together with Country Bank Paper, is above 50 tens of millions also; in order that no matter be the quantity of our income, the taxes on one hand, and the currency on the opposite, bear practically the same proportion to it. We have been nearly upon a level in that respect with the states of the Continent, which had been taxed nearly in the same ratio; the general state of prices was almost the same, and the price of gold about par. I see nevertheless, that Mr. Ricardo and others, are forming schemes for enabling, or for obliging the Bank to pay their Notes in bullion as a substitute of coin, at mint price, whatever be the market worth; as if there have been any difference actually and reality between paying in coin and in bullion, which is weight for weight of the same worth as coin.

A attracts a bill on B for the amount which B owes to him: D, having an equal quantity to pay in France, buys this bill from A, and sends it to C, who, at the expiration of the number of days which the bill has to run, presents it to B for fee. Certain restrictions had been introduced which were to be applied to all present banks; and it was thought desirable to make compulsory the periodical publication of the names of all companions and directors, and of such issues as the switch of shares, as well as the amount of the issue of notes, and to determine how lengthy the duty for the possession of shares would attach to a social gathering. And earlier than they need to have resolved, that Excess of Issues have been the sole trigger of the rise of the worth of gold, they should have stated the completely different outcomes of the inquiries within the above talked about points,-and given depart to every impartial man to make his judgement accordingly. Is it solely a guess, for no one can state with mathematical precision what the rise could be. In 1814, the problem of Bank Notes was not one fourth of the sums levied.

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