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Page 521 of 2651

Author: Adam Smith

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When, on the contrary, the wealth of any country increases, when
the annual produce of its labour becomes gradually greater and
greater, a greater quantity of coin becomes necessary in order to
circulate a greater quantity of commodities: and the people, as
they can afford it, as they have more commodities to give for it,
will naturally purchase a greater and a greater quantity of
plate. The quantity of their coin will increase from necessity;
the quantity of their plate from vanity and ostentation, or from
the same reason that the quantity of fine statues, pictures, and
of every other luxury and curiosity, is likely to increase among
them. But as statuaries and painters are not likely to be worse
rewarded in times of wealth and prosperity, than in times of
poverty and depression, so gold and silver are not likely to be
worse paid for.

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