of interest

Of Interestby David HumeNothing is esteemed a more certain sign of the flourishingcondition of any nation than the lowness of interest: And with reason;though I believe the cause is somewhat different from what is commonlyapprehended. Lowness of interest is generally ascribed to plenty ofmoney. But money, however plentiful, has no other effect, if fixed,than to raise the price of labour. Silver is more common than gold;and therefore you receive a greater quantity of it for the samecommodities. But do you pay less interest for it? Interest in BATAVIAand JAMAICA is at 10 per cent. in PORTUGAL at 6; though these places,as we may learn from the prices of every thing, abound more in gold...

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