David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 158

But if the prices of wine were such that no wine could be exported to England, the importer of cloth would equally purchase a bill; but the price of that bill would be higher, from the knowledge which the seller of it would possess, that there was no counter bill in the market by which he could ultimately settle the transactions between the two countries: he might know that the gold or silver money which he received in exchange for his bill, must be actually exported to his correspondent in England, to enable him to pay the demand which he had authorized to be made upon him, and he might therefore charge in the price of his bill all the expenses to be incurred, together with his fair and usual profit.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 158 · Verified：2026-10-19 · Verification：Short excerpt

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