Roman aes coin

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Often appears with: second punic war coinage debasement · public finance and debt · public debt reduction · money, coin, and credit

Usually: commentary or gloss (1) · detachment (1)

Quotable

“In the course of the second Punic war, the As was still further reduced, first, from two ounces of copper to one ounce, and afterwards from one ounce to half an ounce; that is, to the twenty-fourth part of its original value.” Adam Smith, An Inquiry Into the Nature and Causes of the Wealth · observation

“By combining the three Roman operations into one, a debt of a hundred and twenty-eight millions of our present money, might in this manner be reduced all at once to a debt of L.5,333,333 : 6 : 8.” Adam Smith, An Inquiry Into the Nature and Causes of the Wealth · insight

An Inquiry Into the Nature and Causes of the Wealth of Nations primary

Adam Smith · 1776 (composed/publication period); modern imprint not specified beyond a 1852 reprint
BOOK I. > L.21,333,333 : 6 : 8. In the course of the second Punic war, the As was still further reduced, first, from two ounces of copper to one ounce, and afterwards from one ounce to half an ounce; that is, to the twenty-fourth part of its original value. By combining the three Roman operations into one, a debt of a hundred and twenty-eight millions of our present money, might in this manner be reduced all at once to a debt of L.5,333,333 : 6 : 8. Even the enormous debt of Great Britain might in this manner soon be paid. (44/56)

This passage begins mid-discussion, citing how Roman coinage was repeatedly reduced during the Second Punic War and claiming that such reductions could quickly erase a huge public debt.

*Physics*, the ancient system of, explained, 322. *Pin-making*, the extraordinary advantage of a division of labour in this art, 3. *Plate* of private families, the melting it down to supply state exigencies, an insignificant resource, 178. New plate is chiefly made from old, 225. *Ploughmen*, their knowledge more extensive than the generality of mechanics, 53. *Pneumatics*, the science of, explai…