Excerpt from Paper Money, the Money of Civilization: An Issue by the State, and a Legal Tender in Payment of Taxes
The advocacy of Paper Money has been so effectually silenced in this country, that the very mention of it opens either a storm of angry invective, or an out-pour of ridicule, whilst its advocates have hitherto confined themselves to putting forth their views in pamphlets and broad-sheets.
The Author has published this book that the future inquirer may find collected together the various authorities who have advocated this unpopular subject, and in a form that will enable it to be shelved and catalogued in the various libraries to which it will be presented, including the library of the British Museum. The writer feels sure that at some future time all thinking men will read with interest these pages, where the author's opinions are enforced by such writers as Bishop Berkely, John Locke, Roger North, Andrew Yarranton, Edward Capps, John Taylor, John Ruskin, Louis Blanc, and Jonathan Duncan, and last not least, Sir John Sinclair, whose counsels prompted Mr. Pitt to try a new system of finance, - a system resorted to through stern necessity, and perhaps somewhat empirically, but which proved the weapon by which the foreign invader was repelled, and ultimately driven into exile; but at the same time wonderfully stimulating internal trade. The first name in the list of writers is Bishop Berkely. His celebrated "Querist" laid down correct principles seventy years before Adam Smith, who touched on the subject in an obscure and contradictory manner, indicating a timid repugnance to forego gold as a basis.
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