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Writing: A Remedy for the Country

A Remedy for the Country, § 14

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§ 14

Among the many proposals presented on this subject, two in particular are so general that almost all the rest can be subsumed under one or the other of them.1 One is to keep banknotes in constant circulation in the same quantity as at present, accept them in the Bank and put them into circulation again at an exchange rate of 72 mark, without actually withdrawing any. The second is to undertake the largest possible withdrawals of banknotes and each year force the exchange rate down by a few mark, until the daler and mark denominations on the notes reach the parities laid down in 1715, i.e. 36 mark or 9 daler kmt per riksdaler.

With regard to the first proposal, it is completely contrary to the natural security in commerce of receiving a cash payment for a negotiable commodity and not having to be fobbed off with symbols and illusions, which, although it is customary in a number of countries, can nonetheless never become lawful, still less useful for any society, though indeed advantageous for certain purposes and persons within it.

That is to sustain a state of inebriation by means of opiates or strong drinks in someone who has already over-imbibed in order to avoid the pain of the headache that he can expect should he sober up. In that way, materia peccans2 is maintained in the body politic, which in the course of time may again break out in the form of various unexpected ailments. It is asserted that the remedies for them are too harsh, and the patient is advised against using them in order to preserve the honour of previous physicians who have prepared the ground for the evil by their quackery. I need probably not linger on this proposal, as it is hardly likely to be defended by others than those who are accustomed to jobbing by turns in currency, exports and securities or else by someone who looks no further into the finances of the realm than that he believes them to be best when such activities flourish, even if everything else should fail.


  1. Among the many proposals presented on this subject, two in particular . . .: this refers on the one hand to P.N. Christiernin’s suggestion to accept the lowered exchange rate of the mark, and on the other to the decision taken by the Diet to inaugurate a scheme of gradual revaluation.
  2. materia peccans: Latin for “the cause or ground for sickness”.

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