Postlethwaite supposes the quantity of cash necessary to carry on the circulation in a State one third of the rents to the land proprietors, or one ninth of the whole product of the lands.
See the articles Cash and Circulation.
Messagers in his Secret Memoirs says, that when he returned with an account to Lewis XIV. that the Spaniards would not come into his project for attacking Jamaica, the Monarch was much chagrined at their refusal, and said, “They were the most stupid wise people in the world.”
The par betwen, land and labor is twice the quantity of land whose product will maintain the laborer. In France one acre and a half will maintain one. In England three, owing to the difference in the manner of living.
Aristotle’s Politics, chap. 6, definition of money, &c.
The proportion of gold and silver, as settled by Sir Isaac Newton’s proposition, was 1 to 14. It was generally through Europe 1 to 15. In China I believe it is 1 to 10.