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The tax, indeed, of the king of Portugal upon the gold of the

Brazils, is the same with the ancient tax of the king of Spain

upon the silver of Mexico and Peru; or one-fifth part of the

standard metal. It may therefore be uncertain, whether, to the

general market of Europe, the whole mass of American gold comes

at a price nearer to the lowest for which it is possible to bring

it thither, than the whole mass of American silver.

The price of diamonds and other precious stones may, perhaps, be

still nearer to the lowest price at which it is possible to bring

them to market, than even the price of gold.