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[Page 5]
in all Cases when Gold Bullion is above the Bank price will make a Part of excess of value
other Reasons however operate at present in Raising the Price of Bullion. The value of all articles even of the first necessity has of late increased so fast that we have serious reason to believe that the dealers in almost all of them have discoverd the advantage of Combining together to destroy these obstacles which Competition formerly Placd in their way Obstacles which Adam Smith thinks impossible Should Ever be removd & Considers as the only Safeguard of the Public against the Exhorbitant demand of individuals & are we to imagine that the holders of Bullion are the only persons unable to Prevent Competition from interfering with their demands
but an inhancd Price of the necessities of Life produces naturally a much more serious & Effectual defalcation of our Bullion Remittances from the Continent for as this untoward circumstance Compells us to demand higher prices for our manufacturing than we usd to take the amount of our Sales must become Less both in Quantity & in Value our Remittances will in Consequence be Lessend bills on England