And was not a square mile of rich land in Taunton Dean at least as well entitled to be called wealth as a bag of gold or silver?
The projectors could not deny that many people had a prejudice in favour of the precious metals, and that therefore, if the Land Bank were bound to cash its notes, it would very soon stop payment.

This difficulty they got over by proposing that the notes should be inconvertible, and that every body should be forced to take them.
The speculations of Chamberlayne on the subject of the currency may possibly find admirers even in our own time.

But to his other errors he added an error which began and ended with him.

He was fool enough to take it for granted, in all his reasonings, that the value of an estate varied directly as the duration.

He maintained that if the annual income derived from a manor were a thousand pounds, a grant of that manor for twenty years must be worth twenty thousand pounds, and a grant for a hundred years worth a hundred thousand pounds.