“We ought to ... distinguish ... between gold ... as merchandise, i. e. as capital, and gold ... as currency” (Tooke, “An Inquiry into the Currency Principle, etc.” p. 10). “Gold and silver may be counted upon to realize on their arrival nearly the exact sum required to be provided ... gold and silver possess an infinite advantage over all other description of merchandize ... from the circumstance of being universally in use as money.... It is not in tea, coffee, sugar or indigo that debts, whether foreign or domestic, are usually contracted to be paid, but in coin; and the remittance, therefore, either in the identical coin designated, or in bullion which can be promptly turned into that coin through the mint or market of the country to which it is sent, must always afford to the remitter, the most certain, immediate, and accurate means of affecting this object, without risk of disappointment from the failure of demand or fluctuation of price.” (Fullerton, l. c. p. 132-133.) “Any other article (except gold or silver) might in quantity or kind be beyond the usual demand of the country to which it is sent.” (Tooke: “An Inquiry, etc.”)

The transformation of money into capital we shall consider in the third chapter which treats of capital and forms the end of the first book.

The original reads “person.”

The manuscript reads “production.”

The manuscript reads “production.”

The German text reads “instruktiv,” which I take to be a misprint of “instinktiv.” Translator.