We may learn from Stanyan that the Canton of Berne had £300,000 lent at interest, and had above six times as much in their treasury. Here, then, is a sum hoarded of £1,800,000 sterling, which is at least quadruple of what should naturally circulate in such a petty state; and yet no one who travels into the Pais de Vaux, or any part of that canton, observes any want of money more than could be supposed in a country of that extent, soil, and situation. On the contrary, there are scarce any inland provinces in the countries of France or Germany where the inhabitants are at this time so opulent, though that canton has vastly increased its treasure since 1714, the time when Stanyan wrote his judicious account of Switzerland.[21]
The account given by Appian of the treasure of the Ptolemies is so prodigious that one cannot admit of it, and so much the less because the historian says the other successors of Alexander were all so frugal, and had many of them treasures not much inferior; for this saving humour of the neighbouring princes must necessarily have checked the frugality of the Egyptian monarchs, according to the foregoing theory. The sum he mentions is 740,000 talents, or £191,166,666 13s. 4d., according to Dr. Arbuthnot’s computation; and yet Appian says that he extracted his account from the public records, and he was himself a native of Alexandria.
From these principles we may learn what judgment we ought to form of those numberless bars, obstructions, and imposts which all nations of Europe, and none more than England, have put upon trade, from an exorbitant desire of amassing money, which never will heap up beyond its level while it circulates; or from an ill-grounded apprehension of losing their specie, which never will sink below it. Could anything scatter our riches, it would be such impolitic contrivances. But this general ill effect, however, results from them, that they deprive neighbouring nations of that free communication and exchange which the Author of the world has intended, by giving them soils, climates, and geniuses so different from each other.
Our modern politics embrace the only method of banishing money—the using paper-credit; they reject the only method of amassing it, the practice of hoarding; and they adopt a hundred contrivances which serve to no purpose but to check industry, and rob ourselves and our neighbours of the common benefits of art and nature.