HKB
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Often appears with: value, price, and exchange · trade, markets, and merchants · relative prices · money, coin, and credit · money export and accumulation · contracts, oaths, and obligation · bills of exchange
Usually: argument (1) · detachment (1)
Ricardo explains payments via bills of exchange can settle without money physically moving, but when trade becomes unprofitable the “premium” on bills forces money export until prices realign to stop imports/exports.
but they are known to him at the time; and the causes which may influence the market price of bills, or the rate of exchange, is no consideration of his. If the markets be favourable for the exportation of wine from Portugal to England, the exporter of the wine will be a seller of a bill, which will be purchased either by the importer of the cloth, or by the person who sold him his bill; and thus without the necessi…