I.: Standards of all sorts of measures, necessary; and in the establishment of these, it is indifferent what are the spe

11. In all regular governments or communities, it is very necessary to have certain standard measures established, both as to weight and extension; that so by these, the true proportion between things as to quantity, may be ascertained, and all dealings regulated with ease and certainty; and it is very obvious, that a standard of money is not less necessary, than the others. Without these standards, most bargains would be vague and indeterminate; and a door would be left open for abuses, mistrusts, endless strifes and controversies.

It would have been of great conveniency in reckonings, if all nations having mutual intercourses and commerce together, had happened to have fixed and agreed upon the same standard measures; but in all other respects, this matter is quite indifferent: Nor can it be said, with any kind of propriety, that the standard measures of any one country, are either better or worse than those of another; those measures being either longer or shorter, heavier or lighter, in one place than they are in another, creating no manner of difference, when their respective quantities and proportions to each other are once known. The Flemish ell and the English yard, though differing considerably in lengths, are yet as good standard measures, one as the other. In like manner, coins bearing the same names, being made either finer or heavier in one mint than they are in another, create no manner of difference in the case, because these coins are every where rated accordingly. Every nation compares the measures of all other countries with its own standards; and no advantage can ensue, by departing from those already established.

12. This may suffice as a full answer to those, who are for debasing our standard, because say they it is too good. If our crown piece is finer and heavier than a Spanish dollar, doth it not proportionably fetch more? or if it doth not, is there not some other cause to be assigned for the disparity, besides the quantity of metal in each? These gentlemen might as well say that our yard is too long, and should be curtailed; and assign as a reason for it, if they please, because our consumption of cloth hath increased, since that standard was made and placed in the exchequer. Or, that our bushel should be lessened, because some past year our crops of grain fell short. Of a piece with these, when thoroughly sifted, will appear most of the reasons that have been given for debasing the standard of money.