Qu. 23. Is not a Country the Poorer for having less Money?
Answ. Not always: For as the most thriving Men keep little or no Money by them, but turn and wind it into various Commodities to their great Profit, so may the whole Nation also; which is but many particular Men united.
Qu. 24. May a Nation, suppose England, have too much Money?
Answ. Yes: As a particular Merchant may have too much Money, I mean coined Money, by him.
Qu. 25. Is there any way to know how much Money is sufficient for any Nation?
Answ. I think it may pretty well be guessed at; viz. I think that so much Money as will pay half a Years Rent for all the Lands of England, and a Quarters Rent of the Houseing, and a Weeks Expence of all the People, and about a Quarter of the Value of all the exported Commodities, is sufficient for that purpose. Now when the States will cause these things to be computed, and the Quantity of their Coins to be known, which the new Coining of their old Money will best do, then it may also be known whether we have too much or too little Money.
Qu. 26. What remedy is there if we have too little Money? |7|
Answ. We must erect a Bank, which well computed, doth almost double the Effect of our coined Money: And we have in England Materials for a Bank which shall furnish Stock enough to drive the Trade of the whole Commercial World.
Quest. 27. What if we have too much Coine?
Answ. We may melt down the heaviest, and turn it into the Splendor of Plate, in Vessels or Utensils of Gold and Silver; or send it out, as a Commodity, where the same is wanting or desired; or let it out at Intrest, where Intrest is high.
Qu. 28. What is Interest or Use-Money?
Answ. A Reward for forbearing the use of your own Money for a Term of Time agreed upon, whatsoever need your self may have of it in the mean while.
Qu. 29. What is Exchange?