Book · An Inquiry into the Wealth of Nations
Page 596 of 2651
Author: Adam Smith
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It must be observed, however, that whatever may be the supposed
annual importation of gold and silver, there must be a certain
period at which the annual consumption of those metals will be
equal to that annual importation. Their consumption must increase
as their mass increases, or rather in a much greater proportion.
As their mass increases, their value diminishes. They are more
used, and less cared for, and their consumption consequently
increases in a greater proportion than their mass. After a
certain period, therefore, the annual consumption of those metals
must, in this manner, become equal to their annual importation,
provided that importation is not continually increasing; which,
in the present times, is not supposed to be the case.
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