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Money Answers all Things by Jacob Vanderlint
1734
Money Answers all Things： or； an Essay to Make Money Sufficiently plentiful Amongst all Ranks of People； And Increase our Foreign and Domestick Trade； Fill the Empty Houses with Inhabitants； Encourage the Marriage State； Lessen the Number of Hawkers and Pedlars； and In a great measure； prevent giving long Credit； and making bad Debts in Trade。 Likewise shewing； The Absurdity of going to War about Trade； and the most likely Method to prevent the Clandestine Exportation of our Wool： And Also to Reduce the National Debts； and ease the Taxes。
by Jacob Vanderlint。
The Destruction of the Poor is their Poverty。 Prov。 X； 15。
To the Merchants of Great Britain
Gentlemen； If this Essay be； what I humbly presume it is； an evident and clear Account of the Foundation of the Trade of the World； and so particularly adapted to the State of Trade in this Nation； as to point out the Means to inlarge； and carry it to the utmost Perfection； I think； I may reasonably hope that； as it must merit your Regard； so it will not be unworthy your Patronage。 But this is not the only Motive； which induces me most humbly to dedicate it to you； Gentlemen： No； I have the Interest and Advancement of Trade （on which the Welfare and Happiness of Mankind so much depends） really at Heart。 And therefore （being sensible the Flaws and Imperfections of this Work can't escape your Penetration） would earnestly recommend it to your Improvement： That the great Basis of Trade may be establish'd by Principles； as solid and perspicuous； as those Rules by which your particular Affairs are directed。 And then it will be no greater Difficulty to account for the Changes and Turns the Trade of Nations takes； than it is； by your exact and excellent Method of Accounts； to shew all the Turns any of your particular Affairs take。 And I well satisfied； the former； by my Principles； when improv'd by your refin'd Judgment and Skill in Trade； will be as easy and demonstrative as the latter。 I am； with the greatest Esteem； Gentlemen； Your most humble Servant； Jacob Vanderlint。
Preface。
Reducing the present Rates of Labour； appears to me so absolutely necessary to increase our foreign and domestick Trade； that I have endeavour'd to shew how it may be effected； to the great Advantage of every Person； from the highest to the lowest； in the Community： and that reducing the Rates of Labour； the Way propos'd in this Essay； which is the only Way it can possibly be done； will together with it effect all the Things I have mentioned in the Title Page； and this Method will cause Multitudes to become the Owners and Possessors of Property； who otherwise never will have a Shilling to spare。 I am sorry I am not； in all Respects； equal to this most important Undertaking； yet I doubt not； that I have sufficiently made out what I have undertaken； and though not with the Accuracy and Conciseness of a Scholar； yet with that Perspicuity and Evidence which may be expected from an ordinary Tradesman。 And as this is the utmost I am capable of； I hope the Inaccuracy and Prolixity of this Performance will be overlooked by the candid and ingenious Reader； for the Sake of the Importance of the Subject； and that Evidence with which I have supported my Arguments。 And I the rather hope for this Indulgence； since the Path I tread is not only unfrequented； but perhaps entirely new： And as the Principles of Trade； I proceed on； are founded in the Nature of Things； and Constitution of the World itself； so I doubt not that they are capable of strict Demonstration； in which Way I should be glad to see them handled by such as have Abilities for it。
An Essay To Make Money sufficiently plentiful amongst all Ranks of People； etc。
The bad Circumstances Trade in general hath been in for some time； which instead of mending seems still growing worse； induced me to consider the Causes； which the sudden and extraordinary Rise of Victuals a few Years ago did； in my Opinion； clearly enough point out and discover。 For I observed； that Rise was not intirely owing to the Seasons； which will always influence the Price of Necessaries； but rather； and indeed chiefly； to the Want of Cultivating and Tilling a great deal more Land； to make the Plenty greater： And as the Rise of any Thing implies some Degree of Scarcity； so this suggests that too few of the People are imploy'd in Cultivation of Land； and the Affairs thereof； and consequently too many in all Trades； Manufactures； and Professions； whence these being thus overstock'd with Numbers； must needs be depressed and embarrassed； as they certainly are； in Reference to the great End of the them； which is solely Profit； whilst the other wants the Surplusage of Hands to increase the Plenty； and keep down the Price of Necessaries from rising as they did at that Time。 In Consequence of these general Observations； I have since made many Reflections； which I hope may be useful； and therefore have endeavour'd to write some of them down； that it may clearly appear where the Fault lies； and how it may be remedied； and I trust I have sufficiently done this in the following Essay。 And as I find； Considerations on the Use； Necessity； Increase； and Diminution of Money amongst the People； will best explain this momentous Affair； I shall lay down and illustrate some Principles relating to Money； which I think deserve to be regarded as Maxims。 I。 Money （i。e。 Gold and Silver） being； by the Consent of all Nations； become Counters for adjusting the Value of all things else； and balancing all Accounts between Man and Man； and the Means by which Commodities of all Kinds are procured and transferred from one to another； is hence become the sole Medium of Trade。 II。 Money （by which understand always Gold and Silver） can be brought into a Nation； that hath not Mines； by this Means only： viz。 by such Nation's exporting more Goods in Value than they import： For； in proportion； as the Value of the Exports exceeds the Value of the Imports； Money； which must balance the Account； increaseth faster or slower； and； contrariwise； where the Imports…exceed the Value of the Exports； the Cash of such Nation must proportionably diminish。 And this is called； and doth constitute； the general Balance of the Trade of all Nations； that have not Mines。 III。 Money will be most plentiful； where the Mines are： I mean by this； just the same as if I should say the Quantity of Coals will be greater at Newcastle than at any Place that is supplied only with Coals from thence： And consequently I mean that Gold and Silver will as certainly be less valuable where the Mines are； than at any other Place which is supplied with those Metals by them； as Coals are； and will be less valuable at Newcastle； than at any other Place that is supplied with Coals only from thence。 Whence it follows； IV。 That the Prices of the Produce or Manufactures of every Nation will be higher or lower； according as the Quantity of Cash circulating in such Nation is greater or less； in Proportion to the Number of People inhabiting such Nation。 To illustrate this； let it be supposed that we have ten Millions of Cash； and as many People in England； it's evident they have twice as much Money amongst them； in Proportion to their Number； as they wou'd have if their Number were doubled； and the Quantity of Cash remain'd just the same。 And therefore； I think； they could give but half the Price for Things in general in this Case； that they could do when they were but half the Number； with the same Quantity of Money circulating and divided amongst them。 Wherefore； if the People increase； and the Cash doth not increase in like Proportion； the Prices of Things must fall； for all the People must have Necessaries； to procure which they must all have Money： This will divide the same Quantity of Cash into more Parts； that is； lessen the Parts； and then it's evident they can't pay so much for their Necessaries； as when the same Cash divided into fewer Parts； makes the Parts greater。 The Prices of all Things in this Kingdom； some Centuries ago； were vastly lower than they are now。 In the Reign of King Henry the Eighth； it was enacted； that Butchers should sell their Meat by Weight； Beef at an Half…penny； and Mutton at Three…farthings per Pound： And if we look back to the Reign of King Edward the Third； we find Wheat was sold at two Shillings per Quarter； a fat Ox for a Noble； a fat sheep for Six…pence； six Pidgeons for a Penny； a fat Goose for Two…pence； a Pig for a Penny； and other Things in Proportion。 See Baker's Chronicle。 Now； since the great Difference of the Prices of these Things now； to what they then sold for； is undoubtedly owing solely to the great Quantity of Gold and Silver； which since that Time hath been brought into this Kingdom by Trade； which hath furnished us with so much more Money； to pay such a vast deal more as we now must； and do give for them； it follows； that the Prices of Things will certainly rise in every Nation； as the Gold and Silver increase amongst the People； and； consequently； that where the Gold and Silver decrease in any Nation； the Prices of all Things must fall proportionably to such De