The Jeffersonian cyclopedia; a comprehensive collection of the views of Thomas Jefferson classified and arranged in alphabetical order under nine thousand titles relating to government, politics, law, education, political economy, finance, science, art, literature, religious freedom, morals, etc.; |
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7027. PROPERTY, Depreciation.— |
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7027. PROPERTY, Depreciation.—
Money is leaving the remoter parts of the
Union, and flowing to this place [Philadelphia]
to purchase paper; and here, a paper
medium supplying its place, it is shipped off
in exchange for luxuries. The value of property
is necessarily falling in the places left
bare of money. In Virginia, for instance,
property has fallen 25 per cent. in the last
twelve months.—
To William Short. Washington ed. iii, 343.
Ford ed., v, 459.
(Pa.,
March. 1792)
| The Jeffersonian cyclopedia; | |