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Writing: The Causes of Emigration

The Causes of Emigration, § 34

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§ 34

In § 22 we showed the risks and real losses that Swedes have to face with regard to their property. Did we not combine into a society in order to enjoy security for our lives and property and entrust the protection of them to the Sovereign Power?

To achieve such a great aim it is necessary, first, to stabilize the exchange rate appropriately.1 It may not respond to any instruction as long as its causes are left to operate freely and no one does anything about them. Such were the earlier attempts to reduce it, which could not possibly have succeeded, but if the mainsprings are slackened in careful stages, the exchange rate will eventually relax of itself, without any decrees regarding the actual rate.

All this was clearly and circumstantially presented to the honourable Estates of the Realm at the last Diet, including a draft of the actual regulation by which it might be brought about, but little has been done about it, so that the effect of that has been minimal. If this is rejected, then Mr Christiernin’s proposal for a 72-mark exchange rate may be adopted, though on condition that he stands surety for the kingdom against all indemnities should the proposal not succeed or not endure longer than the stabilization of the exchange rate that a few years ago cost the kingdom more than 60 tunnor guld. For we certainly have no more money to squander, when the kingdom is already riddled with debts.

Second, once that has been done, the general public should be informed of the rate at which all our currency – dukat, riksdaler, carolin, sexstyver-stycke, plåt, slant, etc. – will be reckoned in daler according to its intrinsic value in the stabilized exchange rate, so that neither natives nor foreigners may fleece us by means of it, for otherwise there will never be a lack of expedients by which to enrich oneself at the expense of the general public.

In short, Sweden has long been shrouded in obscurity by the exchange rate. It is already high time to pay for the goods and labour of the inhabitants in coin of genuine value and not merely a stamped denomination.


  1. to stabilize the exchange rate: note here Chydenius’s standpoint, which is widely different from what he later held in A Remedy for the Country by Means of a Natural System of Finance.

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