CHAP. XXVIII. TO OTHER PRECIOUS METALS.

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precious metals from being converted into coin.In the other parts of the world no such taxexists. In times of great agitation and inse-curity, especially during internal commotions orinvasions, gold and silver articles are rapidly con-verted into money 5 whilst, during periods of tran-quillity and prosperity, money is converted intoplate and jewellery. In the latter case confidencegives currency to various substitutes for coinedmoney, and its use may be greatly abbreviated;but in the former case nothing can be used as asubstitute, since the credit of public or privateinstitutions of a banking nature, from whencesuch substitutes can alone originate, can neverenter into an equal competition with metallicmoney.