Adam Smith：The Wealth of Nations, Book IV, Chapter III, Paragraph 1105

Before 1609, the great quantity of clipt and worn foreign coin which the extensive trade of Amsterdam brought from all parts of Europe, reduced the value of its currency about nine per cent. below that of good money fresh from the mint. Such money no sooner appeared, than it was melted down or carried away, as it always is in such circumstances. The merchants, with plenty of currency, could not always find a sufficient quantity of good money to pay their bills of exchange; and the value of those bills, in spite of several regulations which were made to prevent it, became in a great measure uncertain.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book IV, Chapter III, paragraph 1105 · Verified：2026-10-19 · Verification：Exact match

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