And thus will Money become plentiful, because less Money will purchase every Thing, in just the same Proportion as the Plenty of every thing shall reduce the Prices, by the Increase of every Thing in Respect of the Demand. And if this Method be sufficiently persued, the Plenty may be increased so much as to make Victuals and Drink half the Price that they are at now;which will make the Price of the Labour of Working People much lower; for the Rates of Labour are always settled and constituted of the Price of Victuals and Drink: And all Manufactures will be vastly cheaper; for the Value of all Manufactures is chiefly constituted of the Price or Charge of the Labour bestowed thereon. This therefore shew how to make Money plentiful, viz.
First, By thus making the Necessaries of Life cheaper, to such a Degree as shall be found effectual to reduce the present Rates of Labour, and thereby the Price of every Thing else, so much, that the Money, now circulating amongst the People, may extend a vast deal further than it now will do.
Secondly, We shall hence be enabled to make, and export our Manufactures at much lower Prices; and this must needs cause us to export abundance more of them to those Nations that now take them of us; besides that it will enable us to carry our Produce, etc. further and cheaper, to induce other Nations to take them of us, who now perhaps do not take any of our Goods; whence the Cash of the Nation will certainly increase, by raising the Value of our Exports above the Value of our Imports; that is, the Balance of Trade will thus be in our Favour, or Money will thus be made plentiful.
VIII. Plenty of Money never fails to make Trade flourish;because, where Money is plentiful, the People in general are thereby enabled, and will not fail to be as much greater Consumers of every Thing, as such Plenty of Money can make them:
Therefore Trade is always found to flourish (i.e. increase) as Money grows more plentiful amongst the People. The Year 1720, was a Proof in Fact of this Maxim. And hence the Revenue must needs increase likewise; since the Duties are always levied on the Things which the People consume and use.
IX. Where Trade flourishes (i.e. where the Ballance of Trade is considerably in Favour of any Nation) there the People always increase greatly, and become generally happy; when such Nations ever grow potent and formidable. This hath always been found true in Fact, and is almost self-evident.
X. 'Tis the Strength, Honour, and Interest of every Government, that their Subjects be as numerous, as the Continent, that their Subjects be as numerous, as the Continent they govern will support in an happy Condition; and as the Happiness (i.e.
the Riches) and Numbers of the Subjects, are greater or less, so will the Strength, Honour, and Revenue of every Government be greater or less.
XI. A Kingdome or State may have more People in it, than the Land it contains can well support; the People therefore must be wretched, and that Government weak, til so many of the Poor People, as distress each other by their Numbers, are remov'd where they can have Land to support them. The Case is the same exactly in every Nation, where the Land which is cultivated doth not afford enough to make all Things very plentiful; for this alone can make the People happy.
XII. The Quantity of Land, to be further put to Cultivation and Tillage, must be so great, as to increase the Plenty of every Thing to such a Degree, that the Price of every Thing may by that Plenty be so greatly lower'd that the Rates of Labour may also thereby be lower'd, till Money thence come to be plentiful amongst the People in general. 'Till this End be answer'd, nothing material is effected, nor can Trade be enlarged abroad, or relieved at home: For the Cultivation of Land is the sole natural Encouragement Trade can possibly receive; because all Things must first come out of the Ground, and, according as the Produce of the Earth is more or less plentiful, so will the Consumption of all Things be greater or less; that is, so much more or less Trade will there be amongst the People. On this the Revenue of the Nation doth so much depend, that the whole Amount of it will be greater or less, as this is, or is not duly encouraged; besides that the same Sums will effect more or less accordingly.
XIII. The Cash of any Nation will always decrease, and become scarce, in Proportion as the Rents are raised, above what the Plenty of Money circulating in Trade amongst the People, will well enable them to pay; and where there is not Land enough cultivated to keep down the Rents, and thereby to remedy this Mischief, and support the People, it may go to such an Extream, as to leave very little Money in the Nation. For where Rents are raised, every Thing else must and will rise too: Whence other Nations will be able to supply our Market; and as most of our Commodities will hence become too dear to be taken by them in return, so we shall vent much less of our Goods at other foreign Markets; and so the Balance of Trade will turn against us, and draw off our Money as long as we have any.