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Of the Money of IRELAND.
MOney is understood to be the uniform Measure and Rule for the Value of all Commodities. But whether in that sence there be any Money, or such Rule in the World, I know not, much less in Ireland, tho most are perswaded that Gold and Silver Money is such. For 1. The proportion of value between pure Gold and fine Silver, alters as the Earth and Industry of Men produce more of one than of the other; that is to say, Gold has been worth but twelve times its own weight in Silver; of late it has been worth fourteen, because more Silver has been got∣ten. That of Gold proportionably, i. e. a∣bout twelve times as much Silver has been raised as of Gold, which makes Gold dear∣er. So there can be but one of the two Metals of Gold and Silver to be a fit mat∣ter for Money. Wherefore, if Silver be that one Metal fit for Money; then Gold is but a Commodity very like Money. And as things now stand, Silver only is the mat∣ter of Money; and that elsewhere as well as in Ireland.