Pagina 807 di 2651

The stream which, by means of his dealings, was continually

running into the coffers of the bank, could not have been equal

to the stream which, by means of the same dealings was

continually running out. The advances of the bank paper, by

exceeding the quantity of gold and silver which, had there been

no such advances, he would have been obliged to keep by him for

answering occasional demands, might soon come to exceed the whole

quantity of gold and silver which ( the commerce being supposed

the same ) would have circulated in the country, had there been

no paper money; and, consequently, to exceed the quantity which

the circulation of the country could easily absorb and employ;

and the excess of this paper money would immediately have

returned upon the bank, in order to be exchanged for gold and

silver. This second advantage, though equally real, was not,

perhaps, so well understood by all the different banking

companies in Scotland as the first.