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england_n france_n king_n lewis_n 8,252 5 10.8817 5 true
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A30882 A discourse concerning coining the new money lighter in answer to Mr. Lock's Considerations about raising the value of money / by Nicholas Barbon, Esq. Barbon, Nicholas, d. 1698. 1696 (1696) Wing B706; ESTC R12375 47,571 114

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every_o body_n refuse_v the_o money_n in_o general_n for_o fear_v the_o loss_n shall_v fall_v upon_o he_o that_o last_o take_v it_o so_o that_o the_o money_n become_v useless_a have_v lose_v the_o currancy_n and_o quality_n of_o money_n and_o all_o the_o murmur_n and_o disorder_n ensue_v that_o usual_o attend_v a_o nation_n that_o want_v money_n to_o drive_v their_o trade_n and_o commerce_n other_o instance_n may_v be_v give_v but_o this_o with_o the_o common_a usage_n of_o not_o exceed_v ten_o or_o fifteen_o per_fw-la cent_n when_o the_o money_n be_v raise_v may_v be_v sufficient_a to_o answer_v mr._n lock_n be_v objection_n that_o the_o government_n can_v raise_v their_o money_n as_o high_a as_o they_o please_v nor_o make_v themselves_o as_o rich_a as_o they_o please_v the_o great_a objection_n that_o mr._n lock_n make_v against_o the_o raise_n the_o value_n of_o money_n be_v that_o if_o the_o government_n have_v a_o power_n to_o give_v a_o value_n of_o ten_o per_fw-la cent_n to_o their_o money_n why_o not_o twenty_o fifty_o or_o as_o high_a as_o they_o please_v and_o then_o it_o will_v be_v in_o the_o government_n be_v power_n at_o any_o time_n to_o make_v themselves_o as_o rich_a as_o they_o please_v such_o a_o power_n at_o this_o time_n be_v to_o be_v wish_v for_o when_o the_o nation_n be_v engage_v in_o so_o chargeable_a a_o war_n but_o that_o be_v the_o misfortune_n that_o attend_v we_o that_o such_o a_o power_n can_v be_v only_o wish_v for_o for_o though_o prince_n and_o state_n have_v a_o power_n to_o give_v a_o value_n to_o their_o money_n yet_o that_o power_n be_v limit_v and_o when_o ever_o they_o have_v attempt_v to_o exceed_v those_o limit_n which_o upon_o a_o extraordinary_a emergency_n they_o have_v sometime_o do_v they_o have_v fall_v under_o great_a mischief_n by_o reason_n the_o money_n have_v be_v always_o counterfeit_v than_o the_o advantage_n they_o propose_v to_o themselves_o amount_v to_o by_o do_v of_o it_o and_o have_v always_o be_v force_v to_o call_v in_o such_o money_n and_o reduce_v the_o value_n within_o its_o usual_a limit_n and_o bound_n there_o be_v two_o cause_n why_o prince_n and_o state_n raise_v the_o value_n of_o their_o money_n the_o one_o be_v ordinary_a and_o the_o other_o extraordinary_a the_o ordinary_a and_o common_a cause_n of_o raise_v the_o value_n of_o the_o coin_n be_v the_o rise_v of_o bullion_n gold_n and_o silver_n be_v commodity_n for_o other_o use_v beside_o the_o make_n of_o money_n as_o for_o make_v of_o plate_n lace_n gilding_n etc._n etc._n and_o beside_o it_o be_v scarce_a in_o some_o country_n and_o more_o plenty_n in_o other_o and_o the_o value_n of_o all_o thing_n arise_v from_o their_o occasion_n and_o plenty_n and_o scarcity_n make_v thing_n cheap_a and_o dear_a when_o ever_o the_o goldsmith_n and_o the_o maker_n of_o plate_n lace_n etc._n etc._n and_o the_o merchant_n to_o export_v it_o to_o the_o indies_n or_o those_o country_n where_o it_o be_v more_o scarce_a will_v give_v more_o for_o bullion_n to_o supply_v such_o occasion_n than_o the_o mint_n can_v afford_v to_o do_v according_a to_o the_o value_n the_o money_n be_v at_o the_o prince_n and_o state_n have_v be_v force_v from_o time_n to_o time_n to_o raise_v the_o value_n of_o their_o coin_n to_o prevent_v it_o from_o be_v melt_v down_o and_o carry_v away_o the_o knowledge_n when_o bullion_n be_v rise_v above_o the_o value_n of_o the_o money_n be_v discover_v by_o the_o mint_n for_o the_o mint_n be_v the_o common_a shop_n and_o market_n place_n for_o the_o merchant_n to_o carry_v in_o their_o bullion_n and_o when_o ever_o they_o forbear_v the_o bring_n of_o it_o thither_o it_o be_v certain_a it_o will_v yield_v they_o a_o better_a price_n in_o another_o place_n for_o bullion_n never_o continue_v long_o in_o a_o place_n unaltered_a because_o it_o yield_v no_o profit_n while_o it_o continue_v so_o but_o if_o it_o be_v carry_v to_o the_o mint_n to_o be_v coin_v it_o become_v useful_a for_o trade_n and_o commerce_n and_o save_v the_o charge_n of_o borrow_a money_n or_o else_o may_v be_v put_v out_o to_o interest_n and_o if_o it_o be_v wrought_v into_o plate_n lace_n etc._n etc._n it_o pay_v for_o the_o fashion_n and_o workmanship_n and_o if_o it_o be_v transport_v to_o the_o indies_n or_o some_o country_n where_o it_o be_v dear_a it_o produce_v profit_n by_o the_o exchange_n of_o those_o good_n that_o be_v buy_v with_o it_o when_o ever_o any_o of_o the_o prince_n and_o state_n in_o europe_n raise_v the_o value_n of_o their_o coin_n the_o rest_n general_o follow_v it_o be_v too_o long_o to_o give_v particular_a instance_n but_o if_o it_o be_v examine_v by_o the_o record_n of_o the_o mint_n of_o the_o king_n of_o france_n with_o those_o of_o the_o mint_n of_o the_o king_n of_o england_n it_o will_v appear_v that_o they_o have_v raise_v their_o money_n from_o time_n to_o time_n as_o the_o king_n of_o england_n have_v do_v or_o rather_o high_a for_o that_o since_o the_o time_n of_o st._n lewis_n who_o be_v co-temporary_a with_o edward_n the_o iiid_n the_o sol_n and_o crown_n contain_v then_o near_o six_o time_n more_o of_o fine_a silver_n than_o the_o sol_n and_o french_a crown_n do_v that_o be_v late_o coin_v which_o be_v a_o great_a proportion_n than_o the_o money_n have_v rise_v in_o england_n since_o edward_n the_o three_o time_n be_v not_o quite_o four_o time_n light_a the_o reason_n be_v it_o be_v almost_o a_o hundred_o year_n since_o the_o english_a have_v raise_v the_o value_n of_o their_o silver_n coin_n and_o in_o the_o same_o time_n the_o french_a have_v raise_v they_o twice_o which_o will_v have_v make_v the_o english_a money_n much_o of_o the_o same_o rise_v with_o give_v of_o allowance_n to_o the_o custom_n of_o the_o english_a who_o have_v always_o undervalue_v their_o silver_n money_n and_o overvalue_v their_o gold_n in_o respect_n to_o their_o neighbour_n nation_n and_o have_v since_o twice_o raise_v the_o value_n of_o their_o gold_n to_o wit_n in_o king_n james_n the_o first_o be_v time_n who_o coin_v a_o twenty-shilling-piece_n of_o gold_n light_a by_o two_o shilling_n than_o that_o which_o he_o coin_v in_o the_o begin_n of_o his_o reign_n which_o raise_v the_o value_n of_o his_o first_o iacobus's_n to_o two_o and_o twenty_o shilling_n and_o in_o king_n charles_n the_o second_v time_n who_o coin_v the_o guinea_n two_o shilling_n light_a have_v the_o broad-piece_n so_o that_o when_o the_o guinea_n be_v currant_n at_o twenty_o shilling_n the_o broad-piece_n go_v for_o two_o and_o twenty_o there_o seem_v to_o be_v a_o absolute_a necessity_n for_o the_o prince_n and_o state_n of_o europe_n to_o raise_v the_o value_n of_o their_o money_n much_o about_o the_o same_o time_n or_o else_o they_o can_v preserve_v it_o in_o their_o country_n notwithstanding_o any_o severe_a law_n to_o prohibit_v the_o melt_a and_o export_v of_o it_o for_o there_o be_v a_o constant_a commerce_n and_o traffic_n betwixt_o all_o the_o country_n of_o europe_n if_o one_o prince_n set_v a_o much_o high_a value_n on_o his_o money_n than_o another_o the_o merchant_n who_o business_n it_o be_v to_o observe_v where_o they_o can_v get_v most_o profit_n will_v melt_v down_o the_o coin_n of_o one_o country_n and_o carry_v it_o to_o the_o mint_n of_o another_o country_n where_o the_o money_n be_v raise_v and_o will_v yield_v the_o great_a price_n this_o will_v appear_v plain_a by_o a_o instance_n here_o in_o england_n for_o the_o king_n of_o england_n have_v not_o raise_v their_o silver_n money_n since_o the_o reign_n of_o queen_n elizabeth_n which_o be_v about_o a_o hundred_o year_n ago_o and_o the_o rest_n of_o the_o prince_n and_o state_n of_o europe_n have_v since_o that_o time_n twice_o raise_v their_o several_a coin_n to_o wit_n in_o the_o reign_n of_o king_n james_n the_o first_o and_o about_o four_o or_o five_o year_n since_o that_o although_o there_o have_v be_v since_o that_o time_n coin_v in_o england_n with_o allowance_n of_o what_o be_v coin_v in_o queen_n elizabeth_n reign_n the_o sum_n of_o 19429061_o l._n 19_o s._n 6_o d._n as_o appear_v by_o the_o record_n of_o the_o mint_n yet_o by_o the_o computation_n that_o mr._n lownds_o make_v there_o be_v not_o above_o five_o million_o six_o hundred_o thousand_o pound_n remain_v which_o in_o my_o opinion_n be_v more_o than_o will_v be_v find_v to_o be_v upon_o the_o new_a coinage_n of_o the_o money_n by_o the_o calculation_n he_o make_v from_o the_o wear_v and_o clip_v money_n so_o that_o there_o have_v be_v near_o fourteen_o million_o melt_v down_o and_o carry_v away_o within_o this_o space_n of_o time_n and_o have_v it_o not_o be_v for_o some_o accidental_a cause_n that_o bring_v bullion_n to_o the_o mint_n since_o the_o foreign_a prince_n have_v raise_v
and_o afterward_o buy_v perhaps_o by_o a_o hundred_o person_n and_o pay_v for_o by_o the_o copper_n money_n of_o the_o country_n and_o there_o be_v but_o few_o bargain_n that_o can_v be_v make_v without_o the_o use_n of_o some_o copper_n money_n to_o make_v the_o sum_n even_o all_o sum_n here_o in_o england_n between_o sixpence_n and_o twelvepence_n be_v make_v up_o with_o farthing_n and_o halfpenny_n this_o show_v mr._n lock_n be_v mistake_n where_o he_o say_v that_o it_o be_v by_o the_o quantity_n of_o silver_n man_n give_v or_o take_v or_o contract_n for_o that_o they_o estimate_v the_o value_n of_o other_o thing_n and_o satisfy_v for_o they_o etc._n etc._n for_o the_o baker_n the_o grocer_n the_o coffee-man_n and_o all_o the_o retailer_n sell_v great_a quantity_n of_o good_n for_o the_o copper_n money_n wherein_o there_o be_v not_o one_o grain_n of_o silver_n and_o yet_o they_o be_v as_o well_o pay_v and_o satisfy_v for_o their_o good_n with_o such_o money_n as_o the_o farmer_n or_o merchant_n of_o who_o they_o first_o buy_v those_o good_n be_v with_o the_o silver_n money_n for_o the_o copper_n money_n may_v be_v coin_v as_o near_o to_o the_o value_n of_o the_o copper_n as_o the_o silver_n or_o gold_n money_n may_v be_v to_o the_o value_n of_o the_o silver_n or_o gold_n and_o the_o authority_n of_o the_o government_n that_o make_v they_o all_o current_n be_v the_o same_o all_o sort_n of_o money_n must_v be_v of_o a_o equal_a value_n according_a to_o what_o they_o be_v stamp_v at_o for_o the_o nature_n of_o the_o metal_n can_v make_v no_o difference_n if_o the_o value_v be_v equal_a that_o be_v do_v only_o by_o proportion_v the_o quantity_n of_o the_o metal_n in_o each_o piece_n of_o money_n to_o their_o different_a value_v for_o instance_n suppose_v copper_n to_o be_v at_o twelvepence_n a_o pound_n and_o silver_n to_o be_v at_o three_o pound_n per_fw-la pound_n a_o ounce_n of_o silver_n which_o be_v five_o shilling_n be_v equal_a to_o five_o pound_n of_o copper_n and_o there_o be_v threescore_o penny_n in_o five_o shilling_n and_o threescore_o ounce_n in_o five_o pound_n a_o ounce_n of_o copper_n be_v a_o piece_n of_o money_n about_o the_o bigness_n of_o a_o crown_n in_o silver_n be_v equal_a to_o the_o value_n of_o a_o penny_n in_o silver_n and_o a_o halfpenny_n be_v half_o a_o ounce_n and_o of_o the_o size_n of_o half-acrown_a be_v equal_a to_o a_o halfpenny_n in_o silver_n if_o it_o have_v be_v the_o quantity_n of_o silver_n that_o man_n take_v and_o contract_n for_o man_n will_v have_v make_v their_o bargain_n by_o the_o weight_n of_o silver_n and_o not_o by_o the_o tale_n of_o money_n for_o silver_n be_v as_o well_o divide_v for_o traffic_n by_o weight_n as_o money_n be_v divide_v by_o number_n and_o there_o will_v be_v no_o occasion_n for_o coin_v for_o it_o be_v as_o easy_a in_o make_v of_o a_o bargain_n when_o the_o question_n be_v ask_v what_o shall_v i_o give_v or_o what_o will_v you_o take_v for_o such_o and_o such_o 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ask_v what_o be_v silver_n worth_a a_o ounce_n and_o will_v be_v no_o more_o understand_v by_o mr._n lock_n be_v answer_n that_o a_o ounce_n of_o silver_n be_v worth_a a_o ounce_n of_o silver_n than_o if_o a_o countryman_n in_o a_o market_n be_v ask_v what_o be_v corn_n worth_a a_o bushel_n shall_v say_v it_o be_v worth_a a_o bushel_n of_o corn._n and_o yet_o if_o mr._n lock_n be_v definition_n of_o money_n be_v true_a that_o it_o differ_v from_o uncoined_a silver_n only_o in_o this_o that_o the_o quantity_n of_o silver_n in_o each_o piece_n of_o money_n be_v ascertain_v by_o the_o stamp_n it_o bear_v which_o be_v set_v there_o to_o be_v a_o public_a voucher_n of_o its_o weight_n and_o fineness_n there_o can_v be_v no_o other_o answer_v give_v to_o know_v the_o value_n of_o silver_n by_o for_o if_o the_o stamp_n to_o a_o crown-piece_n which_o be_v a_o ounce_n of_o silver_n be_v set_v only_o to_o describe_v its_o weight_n and_o fineness_n if_o any_o man_n be_v ask_v the_o question_n 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trader_n who_o business_n it_o have_v be_v to_o know_v the_o practic_a part_n and_o the_o difference_n of_o the_o value_n of_o the_o several_a coin_n be_v of_o the_o same_o opinion_n and_o yet_o if_o it_o be_v but_o consider_v it_o will_v be_v find_v to_o be_v a_o vulgar_a error_n and_o that_o the_o par_fw-fr of_o money_n be_v make_v by_o compute_v the_o valuation_n that_o the_o several_a government_n set_v on_o their_o coin_n which_o be_v not_o from_o the_o equal_a quantity_n of_o silver_n in_o each_o piece_n of_o money_n for_o there_o be_v scarce_o two_o mint_n that_o agree_v in_o the_o standard_n of_o their_o coin_n the_o standard_n of_o spain_n be_v eleven_o ounce_n four-penny_n weight_n fine_a in_o a_o pound_n troy_n mexico_n eleven_o ounce_n threepenny_n weight_n ten_o grain_n england_n eleven_o ounce_n twopenny_n weight_n france_n ten_o ounce_n tenpenny_n weight_n holland_n nine_o ounce_n and_o the_o same_o difference_n may_v be_v observe_v in_o all_o the_o other_o mint_n of_o europe_n beside_o the_o pound_n troy_n be_v divide_v into_o a_o number_n of_o piece_n differ_v in_o their_o weight_n and_o that_o no_o two_o mint_n divide_v their_o money_n alike_o that_o in_o most_o piece_n of_o money_n the_o very_a grain_n of_o silver_n be_v divide_v in_o some_o a_o ten_o thirteen_o fifteen_o twenty_o part_n of_o a_o grain_n and_o more_o and_o that_o there_o be_v scarce_o any_o one_o piece_n of_o money_n without_o fraction_n of_o grain_n of_o silver_n so_o that_o in_o those_o very_a coin_n that_o be_v near_a in_o value_n by_o computation_n it_o will_v be_v find_v altogether_o impracticable_a for_o any_o merchant_n to_o keep_v a_o account_n of_o the_o par_fw-fr of_o the_o several_a coin_n by_o the_o quantity_n of_o silver_n in_o each_o piece_n of_o money_n it_o will_v puzzle_v a_o good_a arithmetician_n to_o state_n the_o difference_n of_o the_o grain_n of_o silver_n in_o those_o piece_n that_o seem_v most_o to_o agree_v as_o to_o instance_n it_o be_v no_o easy_a matter_n to_o number_v the_o difference_n of_o grain_n betwixt_o those_o piece_n of_o eight_o that_o of_o mexico_n and_o spain_n with_o the_o pound_n troy_n be_v both_o divide_v into_o thirteen_o piece_n and_o a_o half_a it_o be_v much_o more_o difficult_a to_o examine_v the_o difference_n of_o the_o grain_n of_o silver_n in_o such_o piece_n as_o the_o sixpence_n of_o england_n the_o rial_n of_o spain_n the_o shilling_n of_o holland_n with_o other_o coin_n about_o that_o value_n but_o if_o the_o difference_n of_o the_o grain_n with_o the_o innumerable_a fraction_n of_o grain_n be_v examine_v in_o the_o stivers_n of_o the_o low-countries_n the_o souz_n of_o france_n the_o crutize_n of_o germany_n with_o the_o silver_n pence_n of_o england_n and_o
continuance_n but_o have_v coin_v their_o money_n light_a than_o they_o do_v at_o the_o first_o beginning_n of_o their_o coinage_n the_o way_n of_o raise_v the_o value_n of_o the_o money_n be_v not_o in_o all_o country_n alike_o in_o the_o unite_a province_n flanders_n germany_n and_o the_o northern_a part_n of_o europe_n it_o have_v be_v usual_o by_o put_v in_o a_o great_a alloy_n and_o make_v of_o it_o a_o little_a courser_n and_o a_o little_o light_a the_o standard_n of_o the_o unite_a state_n be_v at_o first_o nine_o ounce_n and_o a_o half_a fine_a silver_n and_o two_o and_o a_o half_a alloy_n in_o the_o pound_n troy_n but_o since_o by_o degree_n their_o standard_n have_v be_v bring_v to_o nine_o ounce_n fine_a and_o three_o ounce_n allay_v and_o likewise_o their_o new_a dollar_n have_v be_v coin_v light_a so_o that_o the_o old_a dollar_n that_o go_v before_o at_o six_o and_o thirty_o stivers_n be_v raise_v to_o forty_o and_o the_o same_o may_v be_v observe_v in_o all_o the_o rest_n of_o the_o mint_n of_o flanders_n germany_n and_o the_o northern_a part_n in_o italy_n france_n and_o england_n the_o way_n of_o raise_v their_o coin_n have_v be_v general_o by_o keep_v the_o old_a standard_n for_o fineness_n and_o only_o by_o alter_v the_o weight_n from_o time_n to_o time_n coin_v their_o new_a money_n light_a as_o they_o have_v occasion_n to_o raise_v the_o value_n of_o their_o money_n in_o portugal_n and_o spain_n the_o usual_a method_n of_o raise_v their_o money_n have_v not_o be_v by_o alter_v their_o standard_n either_o in_o fineness_n or_o weight_n but_o by_o give_v a_o rise_n to_o their_o money_n by_o a_o computation_n make_v from_o the_o value_n of_o the_o copper_n money_n that_o be_v a_o rial_n of_o eight_o which_o in_o spain_n be_v former_o of_o the_o value_n of_o three_o hundred_o and_o seventy_o malvedy_n be_v raise_v to_o pass_v currant_n for_o four_o hundred_o malvedy_n which_o be_v their_o copper_n money_n and_o so_o high_a from_o time_n to_o time_n and_o the_o same_o be_v to_o be_v observe_v in_o portugal_n they_o raise_v the_o value_n of_o their_o money_n by_o their_o reas_n which_o be_v their_o copper_n money_n and_o the_o ducat_n or_o crusado_n that_o use_v to_o pass_v for_o four_o hundred_o reas_n have_v be_v raise_v to_o four_o hundred_o and_o fifty_o and_o high_o the_o usual_a proportion_n of_o value_n that_o prince_n and_o state_n give_v to_o their_o silver_n and_o gold_n money_n when_o they_o raise_v the_o value_n of_o they_o be_v general_o betwixt_o ten_o and_o fifteen_o per_fw-la cent_n above_o the_o market-price_n of_o silver_n and_o gold_n the_o french_a crown_n be_v raise_v from_o sixty_o sous_fw-fr to_o sixty_o five_o which_o be_v about_o ten_o percent_a and_o about_o three_o or_o four_o year_n since_o the_o crown_n be_v raise_v to_o seventy_o two_o sous_fw-fr which_o be_v near_o fifteen_o per_fw-la cent_n the_o rix-dollar_n coin_v at_o fifty_o stivers_n be_v raise_v to_o fifty_o five_o stivers_n and_o since_o to_o sixty_o which_o be_v about_o ten_o per_fw-la cent_n the_o king_n of_o england_n have_v raise_v their_o money_n from_o twenty_o to_o twenty_o five_o thirty_o thirty_o seven_o etc._n etc._n which_o be_v after_o the_o same_o proportion_n as_o the_o emperor_n the_o french_a king_n and_o other_o prince_n and_o state_n have_v do_v the_o dutch_a raise_v the_o value_n of_o their_o money_n by_o add_v a_o great_a alloy_n as_o have_v be_v observe_v which_o be_v less_o take_v notice_n of_o and_o so_o do_v not_o disturb_v the_o mind_n of_o those_o person_n who_o think_v the_o value_n of_o money_n be_v sole_o from_o the_o quantity_n of_o fine_a silver_n in_o each_o piece_n the_o reason_n why_o prince_n and_o state_n do_v observe_v to_o give_v no_o great_a proportion_n of_o value_n to_o their_o money_n when_o they_o new_o raise_v it_o than_o betwixt_o ten_o and_o fifteen_o per_fw-la cent_n above_o the_o currant_n price_n of_o bullion_n be_v to_o prevent_v counterfeit_v for_o though_o there_o be_v law_n in_o all_o country_n with_o severe_a penalty_n to_o prohibit_v the_o counterfeit_n of_o money_n yet_o none_o be_v keep_v and_o observe_v where_o there_o be_v great_a profit_n to_o be_v get_v by_o break_v of_o they_o and_o no_o person_n will_v counterfeit_v the_o stamp_n and_o make_v the_o money_n the_o same_o both_o in_o weight_n and_o fineness_n for_o only_o ten_o or_o fifteen_o per_fw-la cent_n profit_n for_o they_o must_v coin_v a_o great_a quantity_n to_o make_v their_o profit_n considerable_a if_o they_o make_v the_o money_n of_o the_o same_o weight_n and_o fineness_n it_o will_v not_o be_v one_o hundred_o and_o forty_o pound_n clear_a profit_n in_o coin_v of_o a_o thousand_o pound_n at_o fifteen_o per_fw-la cent_n because_o of_o the_o charge_n of_o coinage_n and_o none_o but_o the_o rich_a man_n can_v vent_v a_o great_a quantity_n and_o he_o will_v not_o hazard_v the_o loss_n of_o his_o life_n and_o estate_n for_o such_o small_a gain_n the_o poor_a man_n can_v attempt_v it_o because_o he_o can_v neither_o get_v bullion_n to_o coin_n nor_o vent_v a_o quantity_n after_o it_o be_v coin_v and_o why_o shall_v any_o man_n venture_v his_o life_n for_o such_o small_a profit_n when_o every_o merchant_n and_o tradesman_n get_v more_o without_o any_o such_o hazard_n therefore_o those_o that_o coin_n false_a money_n counterfeit_v the_o metal_n as_o well_o as_o the_o stamp_n to_o make_v it_o profitable_a but_o than_o it_o be_v much_o easy_o discover_v and_o they_o be_v often_o punish_v with_o death_n for_o they_o must_v counterfeit_v the_o weight_n colour_n and_o size_n of_o the_o piece_n as_o well_o as_o the_o stamp_n which_o be_v much_o more_o difficult_a than_o only_a to_o counterfeit_v the_o stamp_n so_o that_o the_o prince_n and_o state_n may_v as_o safe_o coin_v their_o money_n ten_o or_o fifteen_o per_fw-la cent_n above_o the_o price_n of_o bullion_n without_o danger_n of_o counterfeit_v as_o if_o they_o shall_v coin_v it_o exact_o to_o the_o market-price_n the_o reason_n why_o the_o prince_n and_o state_n when_o they_o have_v raise_v the_o value_n of_o their_o money_n have_v not_o coin_v it_o near_o to_o the_o price_n of_o bullion_n than_o about_o the_o difference_n of_o ten_o per_fw-la cent_n be_v to_o avoid_v the_o too_o often_o raise_v the_o value_n of_o their_o coin_n which_o when_o ever_o it_o be_v do_v be_v apt_a to_o create_v some_o little_a murmur_n and_o discontent_n among_o the_o people_n and_o if_o they_o shall_v coin_v it_o near_o the_o value_n they_o will_v be_v force_v to_o raise_v their_o money_n as_o oft_o as_o silver_n rise_v in_o its_o price_n above_o the_o value_n of_o the_o coin_n which_o will_v be_v every_o five_o or_o ten_o year_n whereas_o by_o raise_v of_o it_o betwixt_o ten_o of_o fifteen_o per_fw-la cent_n they_o have_v not_o usual_o raise_v it_o but_o once_o in_o fifty_o or_o threescore_o year_n as_o to_o instance_n from_o edward_n the_o three_o time_n to_o queen_n elizabeth_n which_o be_v betwixt_o two_o hundred_o and_o fifty_o and_o three_o hundred_o year_n from_o the_o first_o raise_v of_o the_o money_n from_o twenty_o penny_n in_o a_o ounce_n of_o silver_n to_o threescore_o penny_n be_v betwixt_o ten_o or_o twelve_o per_fw-la cent_n for_o every_o fifty_o year_n and_o the_o like_a may_v be_v observe_v if_o it_o be_v necessary_a in_o all_o the_o mint_n of_o europe_n in_o the_o reign_n of_o edward_n vi_o when_o there_o be_v so_o great_a a_o alloy_n put_v into_o the_o money_n as_o raise_v it_o to_o forty_o or_o fifty_o per_fw-la cent_n profit_n above_o the_o price_n of_o silver_n there_o be_v barrel_n of_o counterfeit_a money_n seize_v at_o the_o custom-house_n that_o be_v send_v from_o foreign_a part_n the_o knowledge_n of_o that_o create_v so_o great_a a_o jealousy_n and_o disturbance_n in_o the_o mind_n of_o the_o people_n that_o scarce_o any_o money_n will_v pass_v for_o fear_v of_o receive_v that_o which_o be_v counterfeit_v for_o the_o knowledge_n of_o the_o goodness_n of_o silver_n be_v a_o mystery_n that_o few_o be_v acquaint_v with_o and_o when_o there_o be_v so_o great_a a_o alloy_n put_v into_o the_o money_n those_o that_o counterfeit_n may_v make_v the_o metal_n as_o good_a if_o not_o better_a than_o the_o true_a money_n because_o there_o be_v profit_n sufficient_a by_o only_o counterfeit_v the_o stamp_n and_o that_o may_v be_v so_o well_o imitate_v as_o not_o one_o in_o a_o thousand_o may_v discover_v the_o difference_n betwixt_o the_o true_a and_o the_o false_a stamp_n and_o though_o the_o metal_n may_v be_v as_o good_a or_o better_a than_o the_o true_a money_n yet_o it_o be_v counterfeit_v it_o be_v none_o of_o the_o government_n be_v money_n and_o want_v their_o authority_n by_o which_o it_o be_v make_v currant_n no_o man_n be_v oblige_v to_o take_v it_o and_o therefore_o
the_o value_n of_o their_o coin_n there_o have_v be_v very_o little_a silver_n money_n coin_v and_o much_o less_o to_o be_v find_v now_o in_o england_n for_o in_o king_n charles_n the_o first_o be_v time_n by_o the_o civil_a war_n of_o england_n the_o plate_n be_v bring_v to_o the_o mint_n to_o be_v coin_v which_o be_v the_o cause_n of_o the_o great_a sum_n of_o silver_n money_n coin_v in_o his_o reign_n the_o call_v in_o the_o parliament-money_n in_o king_n charles_n the_o second_v time_n and_o new_a coin_v of_o it_o the_o two_o or_o three_o hundred_o thousand_o pound_n that_o be_v yearly_o send_v into_o england_n from_o france_n upon_o some_o particular_a occasion_n during_o his_o reign_n with_o the_o money_n that_o dunkirk_n be_v sell_v for_o and_o the_o act_n of_o parliament_n for_o give_v away_o the_o charge_n of_o coinage_n to_o encourage_v the_o merchant_n to_o bring_v bullion_n to_o the_o mint_n be_v almost_o three_o and_o a_o half_a per_fw-mi cent_n be_v the_o occasion_n of_o the_o silver_n money_n coin_v in_o his_o reign_n and_o if_o the_o two_o sum_n coin_v in_o these_o two_o king_n reign_v which_o make_v about_o twelve_o million_o with_o the_o money_n that_o be_v coin_v in_o queen_n elizabeth_n reign_n and_o a_o million_o that_o be_v coin_v in_o the_o reign_n of_o king_n james_n the_o first_o before_o the_o foreign_a prince_n raise_v the_o value_n of_o their_o coin_n be_v put_v together_o they_o will_v make_v near_o eighteen_o million_o so_o that_o be_v it_o not_o for_o these_o accidental_a cause_n there_o have_v not_o be_v coin_v in_o the_o mint_n of_o england_n two_o million_o of_o silver_n money_n since_o the_o foreign_a prince_n raise_v the_o value_n of_o their_o coin_n and_o have_v it_o not_o be_v for_o the_o wear_n of_o some_o of_o the_o old_a money_n light_a by_o often_o tell_v it_o over_o and_o clip_v of_o the_o rest_n by_o which_o they_o be_v make_v unprofitable_a to_o melt_v down_o by_o this_o time_n in_o all_o probability_n there_o have_v scarce_o be_v a_o silver_n piece_n of_o money_n to_o be_v see_v in_o england_n and_o that_o the_o raise_v the_o coin_n in_o foreign_a part_n and_o the_o not_o raise_v the_o silver_n coin_n in_o england_n be_v the_o cause_n of_o melt_v it_o down_o and_o transport_v it_o will_v plain_o appear_v from_o the_o plenty_n of_o the_o gold_n here_o compare_v with_o the_o silver_n for_o since_o the_o forty_o three_o of_o queen_n elizabeth_n be_v the_o last_o time_n that_o the_o silver_n money_n be_v raise_v here_o in_o england_n the_o gold_n have_v be_v twice_o great_o raise_v by_o which_o mean_n there_o be_v here_o double_a if_o not_o treble_v the_o quantity_n of_o gold_n for_o silver_n whereas_o in_o all_o other_o kingdom_n and_o state_n in_o europe_n there_o be_v ten_o time_n more_o silver_n money_n than_o gold_n for_o in_o the_o forty_o three_o year_n of_o queen_n elizabeth_n according_a to_o mr._n lownds_n account_n from_o the_o record_n of_o the_o mint_n which_o all_o man_n agree_v be_v very_o exact_a a_o pound_n weight_n troy_n of_o gold_n of_o the_o standard_n of_o twenty_o two_o carat_n fine_a and_o two_o carat_n allay_v be_v coin_v into_o thirty_o three_o sovereign_n and_o a_o half_a at_o twenty_o shilling_n a_o piece_n make_v thirty_o three_o pound_n ten_o shilling_n in_o the_o reign_n of_o king_n james_n i._o the_o gold_n be_v raise_v and_o the_o same_o pound_n weight_n and_o standard_n of_o gold_n be_v coin_v into_o as_o many_o unit_v double-corowns_a and_o other_o piece_n of_o gold_n as_o make_v up_o forty_o pound_n eighteen_o shilling_n and_o four_o penny_n and_o in_o king_n charles_n the_o second_v time_n the_o gold_n be_v again_o raise_v and_o the_o same_o standard_n and_o weight_n be_v coin_v into_o forty_o four_o guineas_fw-la and_o a_o half_a at_o twenty_o shilling_n a_o piece_n so_o that_o from_o thirty_o three_o pound_n ten_o shilling_n in_o queen_n elizabeth_n time_n to_o forty_o four_o pound_n ten_o shilling_n in_o king_n charles_n reign_n the_o gold_n be_v raise_v near_o three_o and_o thirty_o per_fw-la cent_n since_o the_o silver_n money_n have_v be_v raise_v which_o be_v the_o reason_n of_o the_o great_a plenty_n of_o gold_n and_o scarcity_n of_o silver_n what_o be_v the_o reason_n that_o these_o two_o prince_n raise_v their_o gold_n and_o not_o their_o silver_n be_v not_o to_o be_v imagine_v unless_o it_o be_v from_o some_o powerful_a argument_n offer_v by_o the_o guiney_n company_n who_o interest_n it_o be_v to_o have_v gold_n raise_v which_o do_v not_o appear_v and_o that_o this_o raise_v the_o gold_n be_v the_o cause_n that_o it_o be_v more_o plentiful_a here_o in_o england_n than_o silver_n will_v appear_v yet_o more_o plain_a if_o the_o record_n of_o the_o mint_n be_v examine_v since_o king_n charles_n the_o second_v restauration_n for_o since_o that_o time_n there_o have_v be_v coin_v in_o the_o mint_n of_o england_n 7263836_o l._n 1_o s._n 5_o d._n and_o in_o silver_n but_o 4319585_o l._n 9_o s._n 5_o d._n which_o do_v not_o want_n much_o of_o double_a the_o quantity_n of_o gold_n money_n that_o have_v be_v coin_v more_o than_o silver_n and_o when_o the_o guineas_n have_v a_o extraordinary_a rise_v here_o in_o england_n as_o to_o be_v currant_n at_o eight_o and_o twenty_o and_o thirty_o shilling_n a_o piece_n there_o be_v above_o seven_o hundred_o and_o twenty_o thousand_o pound_n in_o gold_n coin_v in_o little_a more_o than_o nine_o month_n time_n which_o be_v more_o than_o be_v coin_v in_o six_o or_o eight_o year_n before_o which_o show_v plain_o that_o the_o raise_v the_o value_n of_o the_o gold_n money_n here_o in_o england_n be_v the_o cause_n that_o so_o much_o be_v import_v and_o coin_v here_o and_o on_o the_o contrary_a the_o not_o raise_v of_o the_o silver_n money_n in_o proportion_n as_o the_o foreign_a mint_n have_v do_v be_v the_o cause_n of_o its_o be_v constant_o melt_v down_o and_o carry_v away_o notwithstanding_o the_o many_o law_n to_o prohibit_v it_o for_o there_o be_v severe_a law_n in_o all_o kingdom_n and_o state_n that_o prohibit_v the_o counterfeit_n clip_v melt_a and_o export_v the_o money_n in_o all_o country_n it_o be_v death_n to_o counterfeit_v and_o clip_v the_o money_n in_o france_n england_n and_o several_a other_o country_n it_o be_v a_o high_a crime_n to_o melt_v it_o down_o and_o forfeiture_n of_o the_o money_n to_o export_v it_o and_o in_o spain_n it_o be_v death_n to_o transport_v it_o and_o yet_o when_o ever_o it_o have_v be_v profitable_a it_o have_v be_v always_o melt_v down_o and_o carry_v away_o so_o that_o by_o experience_n prince_n and_o state_n have_v find_v that_o there_o be_v no_o other_o way_n to_o preserve_v it_o in_o the_o country_n but_o by_o raise_v the_o value_n of_o their_o money_n so_o much_o above_o the_o price_n of_o bullion_n that_o the_o merchant_n may_v get_v more_o by_o carry_v away_o the_o bullion_n than_o the_o money_n the_o cause_n of_o raise_v the_o money_n here_o in_o europe_n will_v always_o continue_v as_o long_o as_o the_o european_n continue_v in_o traffic_n and_o commerce_n for_o trade_n make_v a_o people_n rich_a and_o gold_n and_o silver_n be_v badge_n of_o riches_n and_o therefore_o as_o the_o people_n grow_v rich_a the_o price_n of_o gold_n and_o silver_n will_v rise_v because_o the_o occasion_n for_o gold_n and_o silver_n will_v still_o increase_v especial_o as_o long_o as_o the_o trade_n continue_v to_o the_o mogul_n country_n in_o the_o east-indies_n for_o the_o prince_n and_o great_a people_n there_o believe_v that_o the_o possession_n of_o gold_n and_o silver_n be_v not_o only_o a_o honour_n to_o they_o while_o they_o be_v alive_a but_o that_o they_o shall_v have_v a_o respect_n in_o the_o next_o world_n according_a to_o the_o quantity_n of_o gold_n and_o silver_n they_o die_v possess_v of_o and_o therefore_o whatever_o gold_n and_o silver_n they_o get_v more_o than_o be_v absolute_o necessary_a for_o commerce_n and_o traffic_n they_o from_o time_n to_o time_n melt_v into_o a_o mass_n or_o tank_n which_o be_v bury_v with_o they_o so_o that_o great_a part_n of_o what_o be_v dug_n out_o of_o the_o west_n be_v bury_v in_o the_o east_n and_o although_o there_o have_v be_v great_a quantity_n of_o gold_n and_o silver_n bring_v into_o europe_n since_o the_o discovery_n of_o the_o west-indies_n yet_o the_o price_n of_o they_o have_v always_o rise_v and_o will_v always_o continue_v so_o as_o long_o as_o the_o people_n grow_v rich_a by_o trade_n which_o will_v make_v the_o occasion_n for_o they_o great_a than_o the_o quantity_n which_o be_v the_o rule_n by_o which_o all_o thing_n be_v make_v dear_a this_o continual_a rise_n of_o gold_n and_o silver_n will_v be_v no_o prejudice_n to_o the_o prince_n and_o state_n if_o they_o do_v but_o observe_v to_o
raise_v and_o keep_v up_o their_o money_n above_o the_o price_n of_o silver_n and_o gold_n for_o there_o will_v be_v the_o same_o quantity_n of_o silver_n and_o gold_n in_o the_o country_n though_o the_o money_n be_v light_a and_o the_o difference_n will_v be_v only_o that_o there_o will_v be_v more_o in_o every_o man_n house_n and_o less_o in_o his_o pocket_n and_o the_o money_n will_v have_v the_o same_o value_n though_o the_o impression_n be_v less_o because_o it_o have_v its_o value_n from_o the_o authority_n of_o the_o government_n just_o as_o if_o the_o ingrave_a shall_v cut_v the_o impression_n of_o the_o great_a seal_n less_o it_o will_v not_o alter_v the_o authority_n of_o the_o seal_n this_o may_v be_v sufficient_a to_o prove_v that_o the_o ordinary_a cause_n of_o raise_v the_o value_n of_o the_o money_n be_v from_o the_o rise_v of_o bullion_n which_o will_v always_o continue_v in_o europe_n as_o long_o as_o the_o inhabitant_n grow_v rich_a by_o trade_n the_o extraordinary_a cause_n of_o raise_v the_o value_n of_o money_n have_v be_v the_o extraordinary_a occasion_n for_o it_o when_o prince_n and_o state_n have_v be_v engage_v in_o great_a war_n and_o want_v money_n they_o have_v sometime_o raise_v the_o value_n of_o it_o to_o increase_v it_o and_o make_v it_o last_o long_o in_o such_o case_n they_o have_v not_o observe_v the_o usual_a bound_n and_o limit_n of_o raise_v the_o value_n of_o money_n ten_o or_o fifteen_o per_fw-la cent_n above_o the_o market_n price_n of_o bullion_n but_o have_v great_o exceed_v it_o to_o thirty_o forty_o fifty_o per_fw-la cent_n and_o more_o but_o then_o in_o all_o such_o case_n as_o soon_o as_o those_o extraordinary_a occasion_n be_v over_o they_o have_v call_v in_o such_o money_n as_o have_v be_v so_o great_o raise_v and_o reduce_v the_o value_n of_o it_o to_o its_o usual_a bound_n in_o the_o first_o punic_a war_n the_o roman_n want_v money_n raise_v the_o value_n of_o the_o as_o which_o be_v their_o brass_n coin_n to_o six_o time_n more_o in_o v●lue_n than_o it_o be_v coin_v at_o it_o weigh_v at_o first_o twelve_o ounce_n and_o afterward_o but_o two_o and_o again_o want_v money_n hannibal_n press_v hard_o upon_o the_o city_n they_o increase_v their_o money_n by_o coin_v the_o as_o to_o a_o ounce_n and_o the_o three_o time_n papirius_n raise_v the_o money_n to_o double_v its_o value_n by_o coin_v it_o at_o half_a a_o ounce_n they_o also_o raise_v their_o denarius_fw-la which_o be_v their_o silver_n money_n in_o proportion_n by_o which_o they_o carry_v on_o the_o war_n against_o the_o carthagenian_o and_o supply_v themselves_o under_o great_a necessity_n and_o want_v of_o money_n livius_n d●usus_n also_o great_o raise_v the_o value_n of_o the_o silver_n money_n by_o put_v in_o a_o great_a alloy_n but_o these_o excessive_a rise_v be_v afterward_o regulate_v and_o reduce_v by_o marius_n gratidianus_n in_o the_o war_n betwixt_o england_n and_o france_n harry_n the_o five_o have_v conquer_v great_a part_n of_o france_n charles_n the_o seven_o raise_v the_o value_n of_o the_o french_a money_n in_o six_o year_n time_n from_o eight_o livre_n nine_o sol_n the_o mark_n by_o degree_n to_o three_o hundred_o and_o sixty_o livre_n the_o mark_n which_o be_v raise_v in_o that_o time_n above_o forty_o time_n the_o value_n and_o as_o those_o that_o write_v of_o the_o mint_n of_o france_n observe_v it_o be_v the_o chief_a mean_n by_o which_o he_o expel_v the_o english_a out_o of_o france_n but_o as_o soon_o as_o ever_o the_o war_n be_v over_o he_o reduce_v the_o money_n to_o seven_o livre_n ten_o sol_n which_o be_v within_o the_o usual_a limit_n of_o raise_v the_o money_n at_o the_o same_o time_n harry_n the_o five_o raise_v the_o money_n of_o england_n from_o twenty_o five_o shilling_n in_o a_o pound_n weight_n to_o thirty_o and_o harry_n the_o six_o his_o son_n the_o next_o year_n raise_v it_o to_o thirty_o seven_o and_o sixpence_n so_o that_o it_o be_v raise_v a_o three_o part_n more_o in_o value_n in_o two_o year_n time_n than_o it_o have_v be_v ever_o since_o the_o twenty_o seven_o of_o edward_n the_o three_o and_o in_o the_o four_o year_n of_o harry_n the_o six_o after_z charles_n the_o seven_o have_v reduce_v his_o money_n he_o lower_v the_o english_a money_n again_o to_o 30_o s._n when_o harry_n the_o eight_o alter_v the_o standard_n of_o england_n and_o extraordinary_o raise_v the_o value_n of_o the_o money_n by_o put_v in_o a_o great_a alloy_n which_o alteration_n at_o first_o be_v by_o put_v in_o but_o two_o ounce_n allay_v to_o ten_o ounce_n of_o fine_a silver_n afterward_o six_o ounce_n and_o at_o last_o eight_o ounce_n allay_v to_o four_o ounce_n of_o fine_a silver_n by_o which_o in_o three_o year_n time_n he_o raise_v the_o value_n of_o the_o money_n above_o three_o time_n high_o than_o it_o be_v before_o but_o it_o be_v when_o he_o have_v spend_v his_o money_n in_o the_o war_n of_o bullen_n and_o the_o nation_n be_v never_o at_o peace_n and_o quiet_a in_o their_o commerce_n and_o traffic_n till_o the_o value_n of_o the_o money_n be_v reduce_v within_o its_o bound_n which_o be_v begin_v by_o edward_n the_o six_o and_o finish_v by_o q._n elizabeth_n these_o be_v the_o extraordinary_a cause_n of_o raise_v the_o value_n of_o money_n to_o supply_v extraordinary_a necessity_n which_o have_v no_o soon_o be_v over_o but_o the_o value_n of_o the_o money_n have_v be_v reduce_v within_o its_o usual_a limit_n for_o if_o the_o rise_n have_v be_v continue_v the_o mischief_n will_v have_v be_v great_a than_o the_o advantage_n they_o receive_v by_o raise_v it_o so_o high_a and_o there_o can_v be_v no_o rule_n or_o measure_v take_v of_o the_o value_n that_o the_o money_n may_v be_v raise_v to_o from_o such_o precedent_n but_o only_o from_o the_o ill_a effect_n in_o continue_v it_o the_o effect_n of_o raise_v the_o value_n of_o the_o money_n be_v that_o it_o increase_v the_o species_n of_o the_o money_n and_o preserve_v it_o in_o the_o country_n where_o it_o be_v coin_v if_o the_o english_a crown_n be_v raise_v to_o six_o shilling_n or_o coin_v in_o such_o a_o proportion_n light_a there_o will_v be_v a_o six_o part_v more_o money_n in_o england_n than_o if_o it_o be_v coin_v to_o the_o old_a standard_n and_o if_o the_o money_n be_v raise_v above_o the_o price_n of_o bullion_n it_o will_v not_o be_v the_o interest_n of_o goldsmith_n and_o merchant_n to_o melt_v it_o down_o from_o both_o which_o effect_n a_o nation_n receive_v great_a advantage_n mr._n lock_n be_v of_o a_o contrary_a opinion_n and_o think_v that_o the_o raise_v of_o the_o money_n will_v produce_v two_o great_a mischief_n viz._n that_o the_o raise_v the_o value_n of_o the_o money_n will_v raise_v the_o value_n of_o all_o commodity_n that_o the_o landlord_n and_o creditor_n will_v lose_v just_a so_o much_o in_o their_o rent_n bond_n debt_n and_o contract_n as_o the_o money_n be_v raise_v these_o be_v the_o two_o great_a objection_n that_o be_v common_o use_v in_o all_o debate_n about_o raise_v the_o value_n of_o the_o money_n and_o be_v ground_v upon_o this_o supposition_n that_o the_o value_n of_o the_o money_n be_v sole_o from_o the_o quantity_n of_o silver_n in_o each_o piece_n and_o that_o it_o be_v the_o quantity_n of_o silver_n that_o in_o buy_v and_o sell_v man_n give_v take_v and_o contract_n for_o so_o that_o if_o there_o be_v less_o silver_n in_o the_o money_n man_n will_v have_v less_o good_n for_o it_o and_o just_o so_o much_o as_o the_o money_n be_v raise_v in_o value_n the_o good_n will_v rise_v and_o the_o same_o consequence_n will_v be_v if_o the_o landlord_n do_v let_v their_o land_n according_a to_o the_o quantity_n of_o silver_n in_o the_o money_n they_o will_v lose_v just_a so_o much_o rend_v if_o the_o money_n be_v raise_v as_o it_o have_v less_o silver_n in_o it_o and_o so_o will_v the_o creditor_n in_o their_o bond_n debt_n and_o contract_n but_o if_o it_o appear_v by_o what_o have_v be_v say_v on_o this_o subject_a and_o that_o mr._n lock_n be_v mistake_v in_o his_o supposition_n that_o the_o money_n have_v its_o value_n from_o the_o authority_n of_o that_o government_n where_o it_o be_v coin_v by_o which_o it_o be_v make_v current_n and_o lawful_a money_n and_o that_o it_o be_v the_o current_n and_o lawful_a money_n of_o england_n that_o man_n contract_n and_o sell_v their_o good_n for_o and_o in_o their_o bond_n and_o lease_n covenant_n to_o pay_v then_o there_o will_v be_v no_o such_o ill_a effect_n from_o raise_v of_o the_o old_a money_n and_o coin_v the_o new_a light_a and_o if_o it_o be_v true_a that_o the_o plenty_n or_o scarcity_n of_o all_o commodity_n in_o respect_n to_o their_o occasion_n make_v they_o cheaper_o or_o dear_a and_o that_o