Adam Smith：The Wealth of Nations, Book I, Chapter V, Paragraph 86

The discovery of the mines of America diminished the value of gold and silver in Europe. This diminution, it is commonly supposed, though I apprehend without any certain proof, is still going on gradually, and is likely to continue to do so for a long time. Upon this supposition, therefore, such variations are more likely to diminish than to augment the value of a money rent, even though it should be stipulated to be paid, not in such a quantity of coined money of such a denomination (in so many pounds sterling, for example), but in so many ounces, either of pure silver, or of silver of a certain standard.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book I, Chapter V, paragraph 86 · Verified：2026-10-19 · Verification：Exact match

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