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Whatever, therefore, may have been the increase in the quantity

of the precious metals, which, during the period between the

middle of the fourteenth and that of the sixteenth century, arose

from the increase of wealth and improvement, it could have no

tendency to diminish their value, either in Great Britain, or in

my other part of Europe. If those who have collected the prices

of things in ancient times, therefore, had, during this period,

no reason to infer the diminution of the value of silver from any

observations which they had made upon the prices either of corn,

or of other commodities, they had still less reason to infer it

from any supposed increase of wealth and improvement.

Second Period.-But how various soever may have been the opinions

of the learned concerning the progress of the value of silver

during the first period, they are unanimous concerning it during

the second.