118 
Capitel V. 
Das vorstehende Käsomiemenl, welches sich nicht 
nur bei Ricardo und den „Bullionisten“ sowie hei 
able balance of trade, never arises but from a redundant currency. Hut 
M '■ Th ornton, ivho has considered this subject very much at l<ir(>e, 
supposes that a very unfavourable balance of trade may be occasioned 
to this country by a bad harvest, and the consequent importation oj 
corn, and that there may be at the same time an unwillingness in the 
country to which we are indebted to rereive our goods in payment. 
The balance due to the foreign country must therefore be paid out of 
that part of our currency consisting of coin, and that hence arises 
the demand for gold bullion and its increased price. Thorn 
ton has not erptaincd to us why any unwillingness should exist in 
the foreign country to receive our goods in exchange for their corn, 
and it would be necessary for him to show, that if such an unwilling 
ness were to exist, we should agree to indulge it so far as to con 
sent to part with our coin. If we consent to give coin in exchange 
for goods, it must be from choice, not necessity. It'e should 
not import more goods than we export, unless we had 
a redundancy of currency, which it therefore suits us 
t 0 m a k e a part of o u r ex p o rts. T h c e xp or t a t i o n of t he 
coin is caused by its cheapness and is not the effect, 
hut t h c cause of a n u n fa vo arable balance: we should 
not export it, if we did not send it to a better market, 
or if we had any commodity which we would export more profitably. — 
It IS only after a comparison of the value in their markets and in 
our own of gold and other commodities and because gold is 
cheaper in the London market than in theirs, that for 
eigners prefer gold in exchange for their corn.“ — 
,,Thus then specie will be sent abroad to discharge a 
debt o n I y w hen it is s u p era b ii n d ant, only when it is the 
cheapest exportable commodity.“ Ferner: Observations on some