Excerpt from Hints on Practical Political Economy: In Two Letters, to the Country Bankers, and the Landed Interest
As Mr. Tooke's book has been frequently quoted, I remark that the inference he draws, that the amount of the Currency governs the price of Com, is putting cause for effect. When Corn is cheap, less Circulating Medium is wanted to buy it, and there is of course less afloat, and the reverse of what Mr. Tooke states, is the fact, viz. That the price of Com governs the quantity of Circulating Medium.
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