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?

Whether a bank lent one million, ten million, or a hundred millions, they would not permanently alter the market rate of interest; they would alter only the value of the money they issued.

The demand for money is regulated entirely by its value, and its value by its quantity.

The farmer and manufacturer can no more live without profit than the labourer without wages.

Profits are not made by differential cleverness, but by differential stupidity.

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

But it is clear that the price of labour has no necessary connection with the price of food, since it depends entirely on the supply of labourers compared with the demand.