orderofneverdoesso;because,thoughtheprinciplesofnprudencedonotalhenductofevery
individual,theyalajorityofevery
classororderbuttherevenueofidlepeople,nsideredasaallestdegree,beincreasedby
thoseoperationsofbankingtheirexpenseingeneral,therefore,uchincreasedbythethoughthatofafew
individualsangtheay,andinrealitysotisisthedendofidlepeople,therefore,forforeigngoodsbeingthesa,orverynearlythesa,asbefore,averysllpartoftheney,hoseoperationsof
banking,iseloyedinpure
nsution,islikelytobeeloyedinpurchasingthosefortheirusethegreaterpartofiturallybedestinedfortheeloyntofindustry,andnotfortheintenanceofidleness
ethequantityofindustryhe
ploy,ustalways
haveregardtothosepartsofitonlyin
provisions,terials,andfinishedheother,hnsistsinney,andocirculatethose
three,staledinordertoputindustryinto
tion,threethingsarerequisite;terialstooolstopenseforthesakeofh
theaterialtoworkupon,nora
tooltoanare
nlypaidtohinney,hisrealrevenue,likethatofallothe,nsists,notinney,butintheneysh;not
inthetalpieces,butin
thequantityofindustryployst,
evidently,beequaltothenuerofenitcansupplyaterials,tools,andaintenancesuitabletothenatureoftheayberequisiteforpurchasingtheterialsandtoolsoftheaintenanceoftheen
butthequantityofindustryploy
isoneyo
theterials,tools,andintenance,h
it;butonlytooneorotherofthosetothe
latterreproperlythantotheforr
ofgoldandsilver
ney,thequantityoftheterials,tools,andintenance,aybeincreased
bytheployed
inpurchasingthethehegreatwheelof
circulationanddistributionisaddedtothegoodsharee
asure,reselesthatoftheundertakerofsogreatwork,proventinchanics,takesdown
hisoldchinery,andaddsthedifferencebetspriceandthatofthene
aterialsanden
istheproportiononeyofany
untrybearstotheheannualproducecirculatedbyansofit,itis,perhaps,iossibletodeteeithasbeenputedbydifferentauthorsatafifth,atatenth,atatall
soevertheproportiononeyybeartothe
heannualproduce,asbutapart,andfrequentlybutasllpart,ofthatproduce,iseverdestinedfortheintenanustalonsiderable
proportiontothatpartherefore,bythesubstitutionofpaper,thegoldandsilveecessaryforcirculationisreducedto,perhaps,afifthpartoftheforrquantity,ifthevalueofonlythegreaterpartoftheotherfourfifthsbeaddedtothefundsaintenanust
keaverynsiderableadditiontothequantityofthatindustry,and,nsequently,tothevalueoftheannualproduceoflandandlabour
anoperationofthiskindhas,hinthesefiveandtyorthirtyyears,beenperfordinstland,bytheerectionofnepaniesinalsteverynsiderabletown,andeveninsountryvillagestheeffectsofithavebeenpreciselythoseabovedesost
entirelyeansofthepaperofthosedifferent
bankingpanies,entsofkindsare
nlydesilververyseldoppearsexceptinthechangeofaterbutthough
thenductofallthosedifferentpanieshasnotbeenunexceptionable,andhasacrdinglyrequiredanactofparlianttoregulateit,theuntry,nothstanding,hasevidentlyderivedgreatbenefitfroheirtradeihavehearditasserted,thatthetradeofthecityofglasgo
fifteenyearsafterthefirsterectionofthebanksthere;andthatthetradeofstlandhasrethanquadrupledsincethefirsterectionofthetedinburgh,ofhe
one,calledthebankofstland,ablishedbyactofparliantin1695;theother,calledtheroyalbank,byroyalcharterin1727herthetrade,eitherofstlandingeneral,orthecityofglasgoicular,hasreallyincreasedinsogreataproportion,duringsoshortaperiod,idonotpretendtoknohasincreasedinthis
proportion,itseetobeaneffecttoogreattobeacuntedforbythesoleoperationofthiscausethatthetradeandindustryofstland,horeasedverynsiderablyduringthisperiod,andthatthebankshaventributedagooddealtothisincrease,cannotbedoubted
thevalueofthesilveeyedinstland
beforetheunion,in1707,anddiatelyafterit,wasbroughtintothebankofstlandinordertobereined,auntedtol411,11710s9dsterlingnoacunthasbeengotofthegoldin;butitappearsfroheancientacuntsofthentofstland,thatthevalueofthegoldannuallyinedsoany
people,too,uponthisoccasion,adiffidenceofrepaynt,didnotbringtheirsilverintothebankofstland:andthereeenglishincalled
inthehegoldandsilver,therefore,h
atedat
lessthanallionsterlingitseetohavenstitutedalsttheionofthatuntry;forthoughthecirculationofthebankofstland,hennorival,was
nsiderable,itseetohavedebutaverysllpartoftheesthe
