ABSTRACT
One of the most unquestioned and most innocent prerogatives of the Crown, acting in this as in all other instances under the control of Parliament, is the monopoly of the coinage. Compare the advantage resulting to the community from the monopoly in the respective instances of the two species of currencies, people shall find it in every point of view greatly superior in the instance of the paper currency, of factitious value, to what it is in the instance of the currency of natural value, the metal currency. Paper currency government had currency though carrying interest had never borne any considerable premium, never a premium approaching to the amount of the interest. The mode and the prospect of success are taken partly from the practice of the Bank in the instance of Bank Notes, partly from the practice of the East India Company in the instance of its Bonds.
