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

Gold, on the contrary, though of little use compared with air or water, will exchange for a great quantity of other goods.

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

Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

The opinions that the price of commodities depends solely on the proportion of supply and demand, or demand to supply, has become almost an axiom in political economy, and has been the source of much error in that science.

Called an inquiry into the laws which determine the division of the produce.

If I discover a manure which will enable me to make a piece of land produce 20 per cent more corn, I may withdraw at least a portion of my capital from the most unproductive part of my farm.