VII. XXVII. Ought money to reprefent commodities arbitra- CHA 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 ufeful articles and utenfils? XXVIII. Ought not the natural bafis of money to be the Staple production of every community, and not gold, filver, copper, &c. in the form of coin, which form creates an artificial demand for those metals, over and above the natural demand? XXIX. Have not the producers of money and the producers of credit the fame interefts; 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 pervertedor overturned by, and much confusion enfued from, an artificial credit? XXXI. Is there any mean to check the above confufion, 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 deftruction of that paper, involving in ruin many honest and respectable individuals? May not these evils be leffened, or avoided, by checking credit in general? XXXIII. Can credit be checked, as long as coinage is altogether, and the production 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? CHAP. 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 ftandard? XXXVI. Is not natural credit grounded on the active abilities, freedom and integrity of men. XXXVII. Is not artificial credit grounded on imaginary property; does it not give rise to fraud and fwindling; and is it not fupported by arrefts for debt? XXXVIII. If arrefts for debt, were abolished, and all metals were allowed to circulate according to their weight and intrinfic ftandard, whether as money or as commodities, would not artificial credit be checked, and order in œconomical matters, be restored?-(See § 197 Note.) XXXIX. Is it not probable that the present inverted system in œconomical matters, in all the ftates of civil fociety, originates from this cause, namely, the independence of money on the production of commodities? XL. Is not he confidered as a rich man, at this time, who fubfifts upon the intereft of his money, independent of any abilities and commodities? XLI. Are not they in reality, or comparatively, poor and dependent, who poffefs talents and abilities, and even flocks 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 fubfifting upon the produce of land or commodities, than upon money fafely placed at intereft? XLIII. Is not a man, who lives without labour, whether on his own income, or by begging, an ufelefs drone in focie ty; VII. ty; and does not he become over folicitous about his own CHAP. interest, and proportionally indifferent to the real interests of the community? (See § 151.) XLIV. Does not intereft, after a certain time, create a new imaginary flock of money or credit-paper; and does not security for money or credit lent (acceptances) also circulate as a new created flock of money, only with the difference of the intereft or discount? And does not all fuch accumulation of imaginary money cause a great difproportion to, and disconnection with, commodities? XLV. Does not the eafy acquifition of money by intereft, &c. and the arbitrary difpofal thereof uncontroled by the community, cause every individual to feek more after money than commodities? XLVI. Does not the feeking merely for money, give rife to fpeculation, independent of wants? XLVII. Does not fpeculation-commerce arife from artificial credit? XLVIII. Does not speculation and commiffion trade differ, in as much as the former has money for it's end, and the latter commodities for the fupply of wants? XLIX. Should not the raw productions of the three natural kingdoms be chiefly favoured, afterwards manufactures, and laftly 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 necessa Fy, 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 fpeculation-commerce—and by allowing gold, filver, CHAP. VIA. filver, &c. to circulate freely, by their weight and standardand will not the establishment of thefe fimple regulations render commerce fubfervient to manufactures, and both fubfervient to agriculture and, in fine, will not the grand object of the whole community be the production of ufeful and neceffary commodities, and ultimately lead to FREEDOM, PEACE, and HAPPI NESS. Its import ance. Schools and apprenticefhips. CHA P. VIII. HINTS ON THE ESSENTIALS OF A COLONIAL GOVERNMENT. EDUCATION. 143. THE happiness and stability of every society, entirely depends on the virtuous qualities of the individuals who compofe it; and, if there be no influx of ftrangers, the continuation or increase of the fociety will depend on the rising generations, who are fucceffively to become members of it. The mind receives it's most permanent impreffions 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, my opinion, it ought to form a diftin&t department of the administration of a new colony. in 144. For the inftruction of fuch children, either of the colonists, or of the natives, as may fhew marks of genius and inclination for literature, it will be neceffary to establish fchools. But, from what I have observed, it appears to me, that paternal care during childhood, and strictly regulated appentice VIII. apprenticeships afterwards, would be found the most eli- CHAP. gible mode of education for those who wish to pursue the ordinary business of the colony; and who might receive fufficient inftruction, from their parents and masters, in reading, writing, arithmetic and the principles of religion, as well as in the manual arts which they might choose to learn. 145. And, in order to accelerate the civilization of the natives, every colonist should undertake the education, both with respect to body and mind, of two negro children, to be received as apprentices, on certain conditions to be fixed by law. These apprentices ought, at ftated times, to be examined before the superintendants of education, who should be empowered to fix the time of their coming of age, after which they are to be entitled to all rights of members of the community, and to be accountable to the fame, for their conduct. By fuch means, a small number of colonists might, within a few years, furnish the community with a valuable acceffion of negro members, inftructed in christianity, trained to regular habits and diurnal labour, and who would foon spread a tafte for fuch acquirements, and pur. fuits, among their countrymen. 146. It were also to be wifhed, that a school for the natives of Africa were erected in fome fertile part of Euwhere the cultivation of raw materials is more purrope, fued than manufactures and commerce. To fuch school negro children might be sent to be trained up, till a certain age for an active, focial 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 O their Colonists fhould in ftruct natives. Schools and apprenticefhips should with theory. join practice |