David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 71

By the discovery of America and the rich mines in which it abounds, a very great effect was produced on the natural price of the precious metals. This effect is by many supposed not yet to have terminated. It is probable however that all the effects on the value of the metals, resulting from the discovery of America have long ceased, and if any fall has of late years taken place in their value, it is to be attributed to improvements in the mode of working the mines.

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 71 · Verified：2026-10-19 · Verification：Short excerpt

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