ThecontinualimportationsfromPeruandBrazilexceedtheeffectualdemandofthosecountries，andsinkthepriceofthosemetalstherebelowthatintheneighbouringcountries。If，onthecontrary，inanyparticularcountrytheirquantityfellshortoftheeffectualdemand，soastoraisetheirpriceabovethatoftheneighbouringcountries，thegovernmentwouldhavenooccasiontotakeanypainstoimportthem。Ifitwereeventotakepainstopreventtheirimportation，itwouldnotbeabletoeffectuateit。Thosemetals，whentheSpartanshadgotwherewithaltopurchasethem，brokethroughallthebarrierswhichthelawsofLycurgusopposedtotheirentranceintoLacedemon。AllthesanguinarylawsofthecustomsarenotabletopreventtheimportationoftheteasoftheDutchandGottenburghEastIndiaCompanies，becausesomewhatcheaperthanthoseoftheBritishcompany。Apoundoftea，however，isaboutahundredtimesthebulkofoneofthehighestprices，sixteenshillings，thatiscommonlypaidforitinsilver，andmorethantwothousandtimesthebulkofthesamepriceingold，andconsequentlyjustsomanytimesmoredifficulttosmuggle。
Itispartlyowingtotheeasytransportationofgoldandsilverfromtheplaceswheretheyaboundtothosewheretheyarewantedthatthepriceofthosemetalsdoesnotfluctuatecontinuallylikethatofthegreaterpartofothercommodities，whicharehinderedbytheirbulkfromshiftingtheirsituationwhenthemarkethappenstobeeitheroverorunder—stockedwiththem。The。priceofthosemetals，indeed，isnotaltogetherexemptedfromvariation，butthechangestowhichitisliablearegenerallyslow，gradualanduniform。InEurope，forexample，itissupposed，withoutmuchfoundation，perhaps，thatduringthecourseofthepresentandprecedingcenturytheyhavebeenconstantly，butgradually，sinkingintheirvalue，onaccountofthecontinualimportationsfromtheSpanishWestIndies。Buttomakeanysuddenchangeinthepriceofgoldandsilver，soastoraiseorloweratonce，sensiblyandremarkably，themoneypriceofallothercommodities，requiressucharevolutionincommerceasthatoccasionedbythediscoveryofAmerica。
If，notwithstandingallthis，goldandsilvershouldatanytimefallshortinacountrywhichhaswherewithaltopurchasethem，therearemoreexpedientsforsupplyingtheirplacethanthatofalmostanyothercommodity。Ifthematerialsofmanufacturearewanted，industrymuststop。Ifprovisionsarewanted，thepeoplemuststarve。Butifmoneyiswanted，barterwillsupplyitsplace，thoughwithagooddealofinconveniency。
Buyingandsellinguponcredit，andthedifferentdealerscompensatingtheircreditswithoneanother，onceamonthoronceayear，willsupplyitwithlessinconveniency。Awell—regulatedpapermoneywillsupplyit，notonlywithoutanyinconveniency，but，insomecases，withsomeadvantages。Uponeveryaccount，therefore，theattentionofgovernmentneverwassounnecessarilyemployedaswhendirectedtowatchoverthepreservationorincreaseofthequantityofmoneyinanycountry。
Nocomplaint，however，ismorecommonthanthatofascarcityofmoney。Money，likewine，mustalwaysbescarcewiththosewhohaveneitherwherewithaltobuyitnorcredittoborrowit。Thosewhohaveeitherwillseldombeinwanteitherofthemoneyorofthewinewhichtheyhaveoccasionfor。Thiscomplaint，however，ofthescarcityofmoneyisnotalwaysconfinedtoimprovidentspendthrifts。Itissometimesgeneralthroughawholemercantiletownandthecountryinitsneighbourhood。Overtradingisthecommoncauseofit。Sobermen，whoseprojectshavebeendisproportionedtotheircapitals，areaslikelytohaveneitherwherewithaltobuymoneynorcredittoborrowit，asprodigalswhoseexpensehasbeendisproportionedtotheirrevenue。Beforetheirprojectscanbebroughttobear，theirstockisgone，andtheircreditwithit。Theyrunabouteverywheretoborrowmoney，andeverybodytellsthemthattheyhavenonetolend。Evensuchgeneralcomplaintsofthescarcityofmoneydonotalwaysprovethattheusualnumberofgoldandsilverpiecesarenotcirculatinginthecountry，butthatmanypeoplewantthosepieceswhohavenothingtogiveforthem。Whentheprofitsoftradehappentobegreaterthanordinary，overtradingbecomesageneralerrorbothamonggreatandsmalldealers。Theydonotalwayssendmoremoneyabroadthanusual，buttheybuyuponcredit，bothathomeandabroad，anunusualquantityofgoods，whichtheysendtosomedistantmarketinhopesthatthereturnswillcomeinbeforethedemandforpayment。Thedemandcomesbeforethereturns，andtheyhavenothingathandwithwhichtheycaneitherpurchasemoney，orgivesolidsecurityforborrowing。Itisnotanyscarcityofgoldandsilver，butthedifficultywhichsuchpeoplefindinborrowing，andwhichtheircreditorsfindingettingpayment，thatoccasionsthegeneralcomplaintofthescarcityofmoney。