The factors left out of the Ricardian equation are falling wages and idle capacity.

A rise of wages from this cause will, indeed, be invariably accompanied by a rise in the price of commodities; but in such cases, it will be found that labour and all commodities have not varied in regard to each other, and that the variation has been confined to money.

Neither a state nor a bank ever have had unrestricted power of issuing paper money without abusing that power.

The factors left out of the Ricardian equation are falling wages and idle capacity.

Neither machines, nor the commodities made by them, rise in real value, but all commodities made by machines fall, and fall in proportion to their durability.

As the revenue of the farmer is realized in raw produce, or in the value of raw produce, he is interested, as well as the landlord, in its high exchangeable value, but a low price of produce may be compensated to him by a great additional quantity.

If English money was of the same value then as before, Hamburgh money must have risen in value. But where is the proof of this?