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What is the proportion which the circulating money of any country

bears to the whole value of the annual produce circulated by

means of it, it is perhaps impossible to determine. It has been

computed by different authors at a fifth, at a tenth, at a

twentieth, and at a thirtieth, part of that value. But how small

soever the proportion which the circulating money may bear to the

whole value of the annual produce, as but a part, and frequently

but a small part, of that produce, is ever destined for the

maintenance of industry, it must always bear a very considerable

proportion to that part.