David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 326

Adam Smith again considers that the effect of the bounty is to cause a partial degradation in the value of money. "That degradation," says he "in the value of silver, which is the effect of the fertility of the mines, and which operates equally, or very nearly equally, through the greater part of the commercial world, is a matter of very little consequence to any particular country. The consequent rise of all money prices, though it does not make those who receive them really richer, does not make them really poorer. A service of plate becomes really cheaper, and every thing else remains precisely of the same real value as before." This observation is most correct.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 326 · Verified：2026-10-19 · Verification：Short excerpt

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