PART I. DANGERS. "Take heed and beware of covetousness: for a man's life consisteth not in the abundance of the things which he possesseth." LUKE xii. 15. ME: the of mus malfed ne: nd if the 2 Lvus to travel rier to punish 27 & delegate, shall per ind hereafter, when 1. AS Retening has gradually nan combing nice per Litical capacity, and has so al per to honest dulness and unscrupuous wilty that they have been accelerating the apreact of a time when the votes and wishes of clergymen wil have a little weight in England as amongst te milions of the English race in North America, wii poilities, exact from the ministers of religion racy the same passive submission that is expected tom women and from negroes. MONEY AND MORALS. CHAPTER I. THE PROBLEM. "Milton, thou shouldst be living at this hour; "How will the gold get into the currency?" is, just now, a question of considerable interest. It involves a good deal more than it appears to do at first sight. There is evidently some difficulty in the process. The old notion was, that new gold had only to appear in a country, and straightway it became currency, raising prices and producing other remarkable changes. Mr. Tooke, in his pamphlet of 1844, showed that old notion to be wrong; but he still never thought of denying that new gold might, and under some circumstances must, get into the currency, and make its appearance, whether as cause or effect, along with increased prices. This happened on a great scale in the sixteenth century, and, of course, might happen again; but the precise manner in which such a thing could happen has not been elucidated, nor any attempt made to show that a process which was easy in this country in the sixteenth century, when gold and silver were the whole of her money, is equally easy or even practicable in the nineteenth, when exchanges a hundred-fold greater are affected by a credit system so perfect, that, for some twenty years, England was able to part with nearly all her gold, and to enjoy very high prosperity B |