CHAP. XXVII.

ASIA.

34,3

As China is supposed to contain one half the in-habitants of Asia , though in the territories longestruled by the East India company the wealth ofthe inhabitants may be somewhat greater, yet asin many and extensive portions of that quarter ofthe world the same advance has not been made,and the condition of the people is much lower, wemay consider the Chinese empire as a fair averageof the whole of Asia . It will be readily seen thatin such countries, notwithstanding some large ope-rations of commerce may be carried on in a few ofthe trading cities, or at the large fairs, the demandfor the precious metals must be very much lessthan is required by such communities as peoplethe whole of Europe, and that part of America inwhich the English have founded establishments.

The money which circulates in Asia is chieflyof silver. This, as we have before shown, is muchmore susceptible of loss by wear than a currencyconsisting of gold. On that account the yearlyquantity required to replace that which is consumedmust be greater in proportion to the whole massin circulation than is needed in Europe , where alarge part of the money consists of the more dura-ble metal gold. On the other hand, it deserves tobe considered, that in the east, especially in India ,more care is taken by every individual to preservethe money from friction than is practised in Europe .This may arise from the greater value of the piecesof money when compared with other commodities;