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Writing: A Remedy for the Country

A Remedy for the Country, § 15

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§ 15

The second proposal for reducing the exchange rate of the banknote against riksdaler, on the other hand, has gained more support and the most powerful advocates, concerning which I must, before I comment on it, sincerely declare that I possess capital neither in cash nor in banknotes, am neither significantly in debt nor a creditor for any sum and moreover occupy such a humble position in our community that my affairs and consumption are comparatively modest and that I am, in a word, in such a situation that, whatever financial proposals may be adopted, I will become neither rich nor poor thereby.1

I bring this up deliberately in order that the reader may judge from this to what extent I may or may not be regarded as impartial in this matter, for even people with the best intentions and the most honest hearts tend to depart somewhat, often to their own advantage, from the truth and the true interest of the country. I have also refrained as long as possible from writing anything on this subject and have left that problem to those more directly involved in business. After I have carefully reflected on the consequences, however, the instinct of restraint has no longer been able to prevent me from laying the matter before the public.

In order that the reader may now obtain a clear grasp of the main question, I undertake to prove four things, namely that reducing the exchange rate to 36 mark or, what amounts to the same thing, increasing the value of the paper daler by 100 per cent is first impossible, second unfair, third unnecessary and, fourth and finally, in several respects harmful.


  1. . . . sincerely declare that I possess capital neither in cash: In 1766, Chydenius was indeed a man with only small means, so he is without doubt sincere here. His situation improved in 1769 when he became the heir to his father-in-law, the merchant Olof Mellberg.

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