Money Answers All Things [45]
there is one Case, in which making War on other Nations may be justifiable, viz. Fighting for Territory when we are over-people, and want Land for them, which our Neighbours have, but will not part with on amicable and reasonable Terms. And as this, and necessary Self-defence is all the just Foundation War can ever have; so War for any other Causes is Murder, aggravated by the horrible Addition of all the Thousands that are destroy'd on both Sides. This must be so, because it's monstrous to imagine, the Author of the World hath constituted Things so, as to make it any Ways necessary for Mankind to murder and destroy each other: And yet he must have constituted Things thus monstrously, if War be necessary on any other Foundation whatsoever. I will not proceed to shew, that the State of the Nation, in Respect of the Trade thereof, is really very different, and much worse than it was about the Year 1688. Erasmus Phillips says, Page 15, that the Year above mentioned was perhaps the Time, when England was in Possession of the greatest Quantity of Wealth she ever did enjoy; She was then inrich'd with the Treasure she had been accumulating for about 150 Years; for so long we may date the Progress of Trade in this Nation. And Page 17, he says,As to the Specie of the Nation, the Recoining 3 Years afterwards makes that sum almost apparent as to the Silver; for from 1691 to 1697, there was brought to the London and Country Mints, 8,400,000 l. of clipt, light, and hammer'd Money, and in all Probability there might be a great Sum standing out. The mill'd Silver coin'd in King Charles IId, and King James IId's Reign, might be 2,200,000 l. so that we may suppose subsisting in Silver Money, at that Time, about 11 Millions, And the Gold we may reckon thus:
Coin'd in Queen Elizabeth's Time who reform'd most of the old Specie: L. 1,500,000 Coin'd in King James Ist's Time L. 800,000 Coin'd in King Charles Ist's Time L. 1,723,456 And in the Reigns of King Charles IId, and King James IId. L. 6,500,000 In all L. 10,523,456
But allowing for Deficiencies and Wastes of all Kinds L. 3,000,000 The Gold Specie then remains L. 7,523,456 Silver Specie as above L. 11,000,000 Total of the Specie circulating in the Nation about the Year 1688 L. 18,523,456
And Page 18, he says, There is Reason to believe this was the State of the Nation in Respect to Trade and Money in the Year 1688. And I will endeavour to shew, that the Trade of the Nation had really stood on such a Foot, during the whole Period of the Coinage above set forth, that is was not likely we had thereby diminished any Part of the Specie abovemention'd, on which however so large a Sum as 3 Millions is allow'd for Deficiencies and Waste. In the Year 1645 there were 7966 Christen'd, and 11479 Buried. In the Year 1789 there were 14777 Christen'd and 23502 Buried. The Christenings and Burials, then, being at the Year 1689, about double the Number they were at the Year 1645, makes it evident that the People in London and Westminister, etc. within the Bills of Mortality, were doubled in about 44 Years, notwithstanding that great Plague which happened in this Period. And Dr Nichols hath assured us, that the Country increased in the same Time, though not in the like, yet in a considerable Proportion. Not since the Prices of all things in general were as high, if not higher, when the People were so much increased, than the Prices of the same Things in general were when the Number of the People were so much less (and this I shall take for granted as a Thing sufficiently known;) therefore, since we had at the Year 1688 no considerable national Debts, or Paper Effects operating as Money, and thereby inhancing the prices of things above the Rates which the Specie itself would support them at, as every Thing which hath the operation of Money, though it be not such, will never fail to do; I say, this could be only the Effect of a
Coin'd in Queen Elizabeth's Time who reform'd most of the old Specie: L. 1,500,000 Coin'd in King James Ist's Time L. 800,000 Coin'd in King Charles Ist's Time L. 1,723,456 And in the Reigns of King Charles IId, and King James IId. L. 6,500,000 In all L. 10,523,456
But allowing for Deficiencies and Wastes of all Kinds L. 3,000,000 The Gold Specie then remains L. 7,523,456 Silver Specie as above L. 11,000,000 Total of the Specie circulating in the Nation about the Year 1688 L. 18,523,456
And Page 18, he says, There is Reason to believe this was the State of the Nation in Respect to Trade and Money in the Year 1688. And I will endeavour to shew, that the Trade of the Nation had really stood on such a Foot, during the whole Period of the Coinage above set forth, that is was not likely we had thereby diminished any Part of the Specie abovemention'd, on which however so large a Sum as 3 Millions is allow'd for Deficiencies and Waste. In the Year 1645 there were 7966 Christen'd, and 11479 Buried. In the Year 1789 there were 14777 Christen'd and 23502 Buried. The Christenings and Burials, then, being at the Year 1689, about double the Number they were at the Year 1645, makes it evident that the People in London and Westminister, etc. within the Bills of Mortality, were doubled in about 44 Years, notwithstanding that great Plague which happened in this Period. And Dr Nichols hath assured us, that the Country increased in the same Time, though not in the like, yet in a considerable Proportion. Not since the Prices of all things in general were as high, if not higher, when the People were so much increased, than the Prices of the same Things in general were when the Number of the People were so much less (and this I shall take for granted as a Thing sufficiently known;) therefore, since we had at the Year 1688 no considerable national Debts, or Paper Effects operating as Money, and thereby inhancing the prices of things above the Rates which the Specie itself would support them at, as every Thing which hath the operation of Money, though it be not such, will never fail to do; I say, this could be only the Effect of a