CHIP. IX.

TAXATION.

221

without some limitation, or at least some exami-nation. The administration of the Roman em-perors may have been one cause of the amazingdesolation which had become so obvious beforethe footsteps of the Barbarians had been seen inItaly ; but another cause had been operating,which, from its secrecy, or its almost impercep-tible progress, may have equally escaped theobservation of the government, and the noticeof the historians of their deeds. While the pro-duction of the precious metals from the mineshad ceased, and the countries near to the mineshad poured the whole, or the greatest part, oftheir ancient and long accumulation into theuniversal empire, there would be a consumption,a decay of the quantity of gold and silver inconstant progress, which, by lowering the metallicprice of all other commodities, would check thatindustry by which alone a country can continueto prosper.

This cause it is indeed difficult to weigh, andyet in the period now under our review, it musthave operated with prodigious force. It maynot therefore be improper to attempt an estima-tion of the effect that must have been producedby it.

If we could obtain any certain data, the dif-ficulty would be much diminished. If we couldascertain the quantity of gold and silver coin incirculation, at any precise period, we might cal-

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