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Page 662 of 2651

Author: Adam Smith

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A shilling might, in the one case, represent no more labour than
a penny does at present; and a penny, in the other, might
represent as much as a shilling does now. But in the one case, he
who had a shilling in his pocket would be no richer than he who
has a penny at present; and in the other, he who had a penny
would be just as rich as he who has a shilling now. The cheapness
and abundance of gold and silver plate would be the sole
advantage which the world could derive from the one event; and
the dearness and scarcity of those trifling superfluities, the
only inconveniency it could suffer from the other.
Conclusion of the Digression concerning the Variations in the
Value of Silver.

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