1 Nov. 1800

Paper Mischief

Ch. IV. Mischief Proved

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The very fact of a rise of prices, when rightly considered, furnishes a proof - a short /summary/ but sufficiently conclusive proof - that the encrease of money has not been /it is not the encrease of money that has been/ productive of any encrease in the quantity of other wealth. Prices have risen 50 per cent: that is the same quantity of wealth that before the rise would have been sold for no more than £100 /£150/ million, now sells for £150 /£225/ million: take away then the the nominal addition produced to the nominal amount of the mass of other wealth by the encrease of money, there remains the real amount the same and no more as if the money had never come into the circulation.