[The Writings of Thomas Paine Volume II by Thomas Paine]@TWC D-Link bookThe Writings of Thomas Paine Volume II CHAPTER V 94/118
It is certain, that the gold and silver which arrive annually in the register-ships to Spain and Portugal, do not remain in those countries.
Taking the value half in gold and half in silver, it is about four hundred tons annually; and from the number of ships and galloons employed in the trade of bringing those metals from South-America to Portugal and Spain, the quantity sufficiently proves itself, without referring to the registers. In the situation England now is, it is impossible she can increase in money.
High taxes not only lessen the property of the individuals, but they lessen also the money capital of the nation, by inducing smuggling, which can only be carried on by gold and silver.
By the politics which the British Government have carried on with the Inland Powers of Germany and the Continent, it has made an enemy of all the Maritime Powers, and is therefore obliged to keep up a large navy; but though the navy is built in England, the naval stores must be purchased from abroad, and that from countries where the greatest part must be paid for in gold and silver.
Some fallacious rumours have been set afloat in England to induce a belief in money, and, among others, that of the French refugees bringing great quantities.
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