Note 1 — Clear Savings of the Manufactories, Trade, and other Branches of Industry.

The 18 millions sterling in circulation, as calculated in 1688, by Dr. Davenant, were, in 1711, brought down to 12 millions, probably as we reduce now to 20 or 25, the 40 millions and upwards which might be supposed in England, were we to confine ourselves to the calculation of the coin struck in the present reign, and of the old pieces preserved on account of their weight being unimpaired. The sequel will shew, that it is next to an impossibility for a country, tolerably governed, to preserve, for any length of time, more or less money than its wants require.