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
has the appearance of that of an unprin∣cipled insolvent, who, when on the verge of bankruptcy to the amount of many thou∣sands, will borrow as low as five pounds of the servants in his house, and break the next day.But whatever momentary relief or aid the minister and his bank might expect from this low contrivance of five pound notes, it will increase the inability of the bank to pay the higher notes, and hasten the destruction of all; for even the small taxes that used to be paid in money will now be paid in those notes, and the bank will soon find itself with scarcely any other money than what the hair powder guinea tax brings in.The bank notes make the most serious part of the business of finance; what is called the national funded debt is but a trifle when put in comparison with it; yet the case of the bank notes has never been touched upon. But it certainly ought to be known upon what authority, whether that of the minister or of the directors, and upon what foundation, such immense quantities are issued. I have stated the