Livre · An Inquiry into the Wealth of Nations
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Auteur: Adam Smith
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The house is crazy, says a weary traveller to himself, and will
not stand very long; but it is a chance if it falls to-night, and
I will venture, therefore, to sleep in it to-night.
The trader A in Edinburgh, we shall suppose, draws a bill upon B
in London, payable two months after date. In reality B in London
owes nothing to A in Edinburgh; but he agrees to accept of A's
bill, upon condition, that before the term of payment he shall
redraw upon A in Edinburgh for the same sum, together with the
interest and a commission, another bill, payable likewise two
months after date. B accordingly, before the expiration of the
first two months, redraws this bill upon A in Edinburgh; who,
again before the expiration of the second two months, draws a
second bill upon B in London, payable likewise two months after
date; and before the expiration of the third two months, B in
London redraws upon A in Edinburgh another bill payable also two
months after date. This practice has sometimes gone on, not only
for several months, but for several years together, the bill
always returning upon A in Edinburgh with the accumulated
interest and commission of all the former bills.
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