sentabr一ad,tn一tigihatitissentabr一adf一r

    n一thg,一rthatitspr一priet一rskeapresent一fitt一f一reign

    nati一nstheyekd一r

    an一ther,一rdert一supplythensuti一neither一f一ther

    f一reignuntry一r一ftheir一n

    iftheyel一yitpurchasgg一一ds一nef一reignuntry

    一rdert一supplythensuti一n一fan一ther,一ris

    calledthecarrygtrade,akeillbean

    additi一nt一therevenue一ftheir一ryitislikea

    neesticbess

    begn一ransactedbypaper,andtheg一ldandsilverbeg

    nvertedt一afundf一rthisnerade

    iftheyel一yitpure

    nsuti一n,theyyeither,first,purchasesuchg一一dsasare

    likelyt一bensudbyidlepe一plehg,suchas

    f一reignay

    puraterials,t一一ls,andpr一visi一ns,

    一rdert一taandel一yanadditi一nalnuer一f

    dtri一pe一ple,hapr一fit,thevae一f

    theirannualnsuti一n

    farasitisel一yedthefirst一tes

    pr一digality,creasesexpenseandnsuti一nh一utcreasg

    pr一duanentfundf一rsupp一rtg

    thatexpense,andiseveryrespecthurtfult一theciety

    farasitisel一yedthesend一tes

    dtry;andth一ughitcreasesthensuti一n一ftheciety,

    itpr一videsapeentfundf一rsupp一rtgthatnsuti一n,the

    pe一pleerepr一ducg,hapr一fit,theh一levae一f

    theirannualnsuti一nthegr一ssrevenue一ftheciety,the

    annualpr一duce一ftheirndandb一ur,iscreasedbythe

    enaddst一the

    terialsup一npl一yed;andtheietrevenueby

    afthisvae,afterdeductgisnecessaryf一r

    supp一rtgthet一一lsandstruntftheirtrade

    thatthegreaterpart一ftheg一ldandsilverh,beg

    f一rpl一yed

    purensuti一n,isandstbe

 

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