Title: The decline & fall of the English system of finance: By Thomas Paine, author of Common sense, American crisis, Age of reason, &c. [One line of quotation]
Author: Paine, Thomas, 1737-1809.
Collection: Eighteenth Century Collections Online
vented titles, she did not attend to their application; for ever since the go∣vernment of England has been in the hands of arch-treasurers, it has been run∣ning into bankrupty; and as to the arch-treasurer apparent, he has been a bankrupt long ago. What a miserable prospect has England before its eyes!Before the war of 1755 there were no bank notes lower than twenty pounds. During that war bank notes of fifteen pounds and of ten pounds were coined; and now, since the commencement of the present war, they are coined as low as five pounds. These five pound notes will circulate chiefly among little shop-keepers, butchers, bakers, market people, renters of small houses, lodgers, &c. All the high departments of commerce, and the affluent stations of life were already over-stocked, as Smith expresses it, with the bank notes. No place remained open wherein to croud an additional quantity of bank notes but among the class of peo∣ple I have just mentioned, and the means of doing this could be best affected by coming five pound notes. This conduct