Wealth consists of the good, and therefore useful, things
in the possession of the nation; money is only the written or coined sign
of the relative quantities of wealth in each person's possession. All
money is a divisible title-deed, of immense importance as an expression
of right to property, but absolutely valueless as property itself. Thus,
supposing a nation isolated from all others, the money in its possession
is, at its maximum value, worth all the property of the nation, and no
more, because no more can be got for it. And the money of all nations
is worth, at its maximum, the property of all nations, and no more, for
no more can be got for it. Thus, every article of property produced
increases, by its value, the value of all the money in the world, and
every article of property destroyed, diminishes the value of all the
money in the world. If ten men are cast away on a rock, with a thousand
pounds in their pockets, and there is on the rock, neither food nor
shelter, their money is worth simply nothing, for nothing is to be had
for it. If they built ten huts, and recover a cask of biscuit from the
wreck, then their thousand pounds, at its maximum value, is worth ten
huts and a cask of biscuit.
Pages:
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164