In Consequence of these general Observations, I have since made many Reflections, which I hope may be useful; and therefore have endeavour'd to write some of them down, that it may clearly appear where the Fault lies, and how it may be remedied; and Itrust I have sufficiently done this in the following Essay.
And as I find, Considerations on the Use, Necessity, Increase, and Diminution of Money amongst the People, will best explain this momentous Affair; I shall lay down and illustrate some Principles relating to Money, which I think deserve to be regarded as Maxims.
I. Money (i.e. Gold and Silver) being, by the Consent of all Nations, become Counters for adjusting the Value of all things else, and balancing all Accounts between Man and Man; and the Means by which Commodities of all Kinds are procured and transferred from one to another; is hence become the sole Medium of Trade.
II. Money (by which understand always Gold and Silver) can be brought into a Nation, that hath not Mines, by this Means only: