They forget that in England not one shilling of paper money of any description is received but of choice,--that the whole has had its origin in cash actually deposited,--and that it is convertible at pleasure, in an instant, and without the smallest loss, into cash again.
Burke argues that in England, paper money is only accepted voluntarily and is backed by actual cash deposits, emphasizing the importance of convertibility.
Share
More from Edmund Burke
Who could flatter himself that these men, suddenly, and as it were by enchantment, snatched from the humblest rank of subordination, would not be intoxicated with their unprepared greatness?
They look on the frame of their commonwealth, such as it stands, to be of inestimable value; and they conceive the undisturbed succession of the crown to be a pledge of the stability and perpetuity of all the other members of our…
But supposing they had ranked as they ought to do, and as with us they do actually, the sides of sick-beds are not the academies for forming statesmen and legislators.
If all the absurd theories of lawyers and divines were to vitiate the objects in which they are conversant, we should have no law and no religion left in the world.
Other voices in this conversation
