第787页 / 共2651页

Many people would immediately perceive that they had more of this

paper than was necessary for transacting their business at home;

and as they could not send it abroad, they would immediately

demand payment for it from the banks. When this superfluous paper

was converted into gold and silver, they could easily find a use

for it, by sending it abroad; but they could find none while it

remained in the shape of paper. There would immediately,

therefore, be a run upon the banks to the whole extent of this

superfluous paper, and if they showed any difficulty or

backwardness in payment, to a much greater extent; the alarm

which this would occasion necessarily increasing the run.