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XI IK N A TURK AND CAUSKS O X

we may be assured that no class or order of men ever doesso; because, though the principles of common prudence donot always govern the conduct of every individual, theyalways influence that of the majority of every class or order.But the revenue of idle people, considered as a class ororder, cannot, in the smallest degree, be increased by thoseoperations of banking. Their expense in general, therefore,cannot be much increased by them, though that of a few in-dividuals among them may, and in reality sometimes is.The demand of idle people, therefore, for foreign goodsbeing the same, or very nearly the same, as before, a verysmall part of the money, which being forced abroad by thoseoperations of banking, is employed in purchasing foreigngoods for home consumption, is likely to be employed inpurchasing those for their use. The greater part of it willnaturally be destined for the employment of industry, and notfor the maintenance of idleness.

When we compute the quantity of industry which the cir-culating capital of any society can employ, we must alwayshave regard to those parts of it only, which consist in pro-visions, materials, and finished work : the other, which con-sists in money, and which serves only to circulate those threemust always be deducted. In order to put industry into mo-tion, three things are requisite; materials to work upon,tools to work with, and the wages or recompense for the sakeof which the work is done. Money is neither a material towork upon, nor a tool to work with ; and though the wagesof the workman are commonly paid to him in money, hisreal revenue, like that of all other men, consists, not in themoney, but in the money’s worth ; not in the metal pieces, butin what can be got for them.

The quantity of industry which any capital can employ,must, evidently, be equal to the number of workmen whom itcan supply with materials, tools, and a maintenance suitableto the nature of the work. Money may be requisite for pur-chasing the materials and tools of the work, as well as themaintenance of the workmen. But the quantity of industrywhich the whole capital can employ, is certainly not equalboth to the money which purchases, and to the materials,tools, and maintenance, which are purchased with it; butonly to one or other of those two values, and to the lattermore properly than to the former.

When paper is substituted in the room* ol gold and silver