Note 132 — Chapter II · (continued 3)

The distinction between currency and money is therefore not found in “Wealth of Nations.” Deceived by the apparent impartiality of Adam Smith, who knew his Hume and Steuart very well, honest Maclaren remarks: “The theory of the dependence of prices on the extent of the currency had not as yet, attracted attention; and Doctor Smith, like Mr. Locke (Locke undergoes a change in his view), considers metallic money nothing but a commodity.” Maclaren, l. c. p. 44.