ch was lent or borrowed were only reckoned by
marks on a stone, or notches on a tree; and the one counted himself
accordingly, so many scratches, or so many notches, better than the
other. But it would soon be seriously diminished if, discovering gold in
their fields, each resolved only to accept golden counters for a
reckoning; and accordingly, whenever he wanted a sack of corn or a cow,
was obliged to go and wash sand for a week before he could get the means
of giving a receipt for them.

[36] It is difficult to estimate the curious futility of discussions
such as that which lately occupied a section of the British Association,
on the absorption of gold, while no one can produce even the simplest of
the data necessary for the inquiry. To take the first occurring
one,--What means have we of ascertaining the weight of gold employed
this year in the toilettes of the women of Europe (not to speak of
Asia); and, supposing it known, what means of conjecturing the weight by
which, next year, their fancies, and the changes of style among their
jewellers, will diminish or increase it?

[37] See, in Pope's epistle to Lord Bathurst, his sketch of the
difficulties and uses of a currency literally "pecuniary"--(consisting
of herds of cattle).

"His Grace will game--to White's a bull be led," &c.

[38] Perhaps both; perhaps silver only. It may be found expedient
ultimately to leave gold free for use in the arts. As a means of
reckoning, the standard might be, and in some cases has already been,
entirely ideal.--_See_ Mill's _Political Economy_, book iii. chap. VII.
at beginning.

[39] The purity of the drachma and zecchin were not without significance
of the state of intellect, art, and policy, both in Athens and
Venice;--a fact first impressed upon me ten years ago, when, in taking
daguerreotypes at Venice, I found no purchaseable gold pure enough to
gild them with, except that of the old Venetian zecchin.

[40] Under which term, observe, we include all documents of debt, which,
being honest, might be transferable, though they practically are not
transferred; while we exclude all documents which are in reality
worthless, though in fact transferred temporarily, as bad money is. The
document of honest debt, not transferred, is merely to paper currency as
gold withdrawn from circulation is to that of bullion. Much confusion
has crept into the reasoning on this subject from the idea that the
withdrawal from circulation is a