« PreviousContinue »
XXVII. Ought money to represent commodities arbitra. C HA P. rily, or ought it to represent them naturally, by the intrinfic value of the material on which it is stamped, arising from the natural demand for that material, when wrought into useful articles and utensils ?
XXVIII. Ought not the natural basis of money to be the staple production of every community, and not gold, silver, copper, &c. in the form of coin, which form creates an tificial demand for those metals, over and above the natural demand ?
XXIX. Have not the producers of money and the producers of credit the fame interests; or, in fact, are they not the fame people? And is not every one a fabricator of money, in proportion to the credit he is able to obtain ?
XXX. Has not the true nature of money been perverted or overturned by, and much confusion ensued from, an artifcial credit?
XXXI. Is there any mean to check the above confusion, but by checking credit?
XXXII. Is there no other alternative, than that commerce muft either be overcharged with imaginary paper, or subjected, every eight or ten years, to the calamity arising from a general destruction of that paper, involving in ruin many honest and respectable individuals? May not these evils be lessened, or avoided, by checking credit in general ?
XXXIII. Can credit be checked, as long as coinage is altogether, and the produ&tion of money in a great measure, under monopoly?
XXXIV. Did not the nature of money in it's primitive state approach more to bartering ? And did not the people of remote antiquity weigh their money?
XXXV. Would not the monopoly of coinage, and of the production of representative money, be taken away by letting every metal circulate according to its weight and intrinfic standard?
XXXVI. Is not natural credit grounded on the ačtive abilities, freedom and integrity of men.
XXXVII. Is not artificial credit grounded on imaginary property; does it not give rise to fraud and swindling; and is it not supported by arrests for debt?
XXXVIII. If arrests for debt, were abolished, and all metals were allowed to circulate according to their weight and intrinsic standard, whether as money or as commodities, would not artificial credit be checked, and order in æconomical matters, be restored?---(See § 197 Note.)
XXXIX. Is it not probable that the present inverted fystem in æconomical matters, in all the states of civil society, originates from this cause, namely, the independence of money on the production of commodities?
XL. Is not he considered as a rich man, at this time, who subfifts
upon the interest of his money, independent of any abilities and commodities?
XLI. Are not they in reality, or comparatively, poor and dependent, who possess talents and abilities, and even stocks of goods, but yet cannot command money, when it is demanded of them in form of taxes, rents, intereft, &c.
XLII. Is there not in general a greater trouble and risk in fubfisting upon the produce of land or commodities, than upon money safely placed at intereft?
XLIII. Is not a man, who lives without labour, whether on his own income, or by begging, an useless drone in socie
c H A P.
ty; and does not he become over solicitous about his own interest, and proportionally indifferent to the real interests of the community ?-See § 151.)
XLIV. Does not interest, after a certain time, create a new imaginary stock of money or credit-paper; and does not security for money or credit lent (acceptances) also circulate as a new created stock of money, only with the difference of the interest or discount? And does not all such accumulation of imaginary money cause a great disproportion to, and difconnećtion wiih, commodities?
XLV. Does not the easy acquisition of money by interest, &c. and the arbitrary disposal thereof uncontroled by the community, cause every individual to seek more after money than commodities?
XLVI. Does not the seeking merely for money, give rise to speculation, independent of wants ?
XLVII. Does not fpeculation-commerce arise from artificial credit?
XLVIII. Does not speculation and commission trade differ, in as much as the former has money for it's end, and the latter commodities for the supply of wants?
XLIX. Should not the raw productions of the three natural kingdoms be chiefly favoured, afterwards manufaktures, and lastly commerce? Does not the reverse, however, now prevail in all civilized focieties?
L. May not fuch a reform of the nature of money as will make it the means, and commodities the end, be necessafy, previous to all other reforms in old established societies?
LI. May not the evils, above hinted at, be effectually excluded from a NEW COLONY, by excluding imprisonment for debt; which will check speculation-commerce--and by allowing gold,
filver, &c. to circulate freely, by their weight and standardand will not the establishment of these fimple regulations render commerce fubfervient to manufactures, and both subfervient to agriculture-and, in fine, will not the grand object of the whole community be the production of useful and necessary commodities, and ultimately lead to FREEDOM, Peace, and happi
с н А Р.
HINTS ON THE ESSENTIALS OF A COLONIAL GOVERNMENT.
Buscempot- 143. THE happiness and stability of every society, en
tirely depends on the virtuous qualities of the individuals who compose it; and, if there be no influx of strangers, the continuation or increase of the society will depend on the rising generations, who are successively to become members of it. The mind receives it's most manent impressions and habits during the period of nonage. The education of youth, therefore, is a matter of the highest importance to every society. So very important is it, that, in
my opinion, it ought to form a distinct department of the administration of a new colony.
144. For the instruction of such children, either of the apprenticefhips.
colonists, or of the natives, as may shew marks of genius and inclination for literature, it will be necessary to establish schools. But, from what I have observed, it appears to me, that paternal care during childhood, and strictly regulated
apprenticeships afterwards, would be found the most eli- c H A P.
145. And, in order to accelerate the civilization of the Colonists
apprenticetives of Africa were erected in some fertile part of Eu- ships should
where the cultivation of raw materials is more pur- with theory, rope,
join practice sued than manufactures and commerce. To fuch school negro children might be sent to be trained up, till a certain age for an active, social life, and returned to the colony, when their elementary instruction may
have prepared them for such apprenticeships, as have been just mentioned. Along with the theory of religion, they should be taught the practice of it, in order to form them for union with