ABSTRACT
Banks are convenient, but it may be questioned whether they are of very much value. These banks were, indeed, very different from the banks in Europe: they issued paper without <the> silver to make it circulate. The same thing was undertaken in people's colony of Canada, but it was wisely given up in the very beginning. If half the money in England were suddenly destroyed, labour and goods would suddenly become so cheap that there would suddenly follow a great quantity of exports which would attract to people the money of all their neighbours. The merchants who have capital in the public funds keep but little money in their coffers for the needs of their business; they can dispose of this capital whenever they please to meet any demand. Consequently, this capital serves two ends: first, to yield them a fixed revenue: secondly, to advance their business.
