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The Evolution of States

Note 973 — Chapter VI

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This is very trenchantly set forth in one of the writings of the Marquis of Pombal, given by Carnota in his memoir, pp. 75-77. Pombal was on this head evidently a disciple of the French physiocrats, or of Montesquieu, who lucidly embodies their doctrines on money (Esprit des Lois, 1748, xxi, 22; xxii, 1 sq.). On the general question of the impoverishment of Portugal by her American gold and silver mines, cp. Carnota pp. 4, 72-73, 207.

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