CHAP. III.: Of ideal Money.

THERE is both real and ideal money. Civilized nations generally make use of ideal money only, because they have converted their real money into ideal. At first, their real money was some metal of a certain weight and standard: but soon dishonesty or want made them retrench a part of a metal from every piece of money, to which they left the same name; for example, from a livre at a pound weight they took half the silver, and still continued to call it a livre; the

piece which was the twentieth part of a pound of silver, they continued to call a sou, though it is no more the twentieth part of this pound of silver. By this method the livre is an ideal livre, and the sou an ideal sou. Thus of the other subdivisions; and so far may this be carried, that what we call a livre, shall be only a small part of the original livre or pound which renders it still more ideal. It may even happen, that we have no piece of money of the precise value of a livre, nor any piece exactly with a sou: then the livre and the sou will be purely ideal. They may give to any piece of money the denomination of as many livres and as many sous as they please, the variation may be continual; because it is as easy to give another name to a thing, as it is difficult to change the thing itself.

To take away the source of this abuse, it would be an excellent law for all countries, who are desirous of making commerce flourish, to ordain, that none but real money should be current; and, to prevent any methods from being taken, to render it ideal.

Nothing ought to be so exempt from variation, as that which is the common measure of all.

Trade is in its own nature extremely uncertain: and it is a great evil to add a new uncertainty to that which is founded on the nature of the thing.