But if there had been a seignorage of two per cent.

但如果有百铸币税。

In France, a seignorage of about eight per cent.

在法国，铸币税约为百八。

If it is equal to the seignorage, there will be neither profit nor loss.

如果等于铸币税， 则既无盈利也无亏损。

If this difference is less than the seignorage, there will be loss instead of profit.

如果这个差额小于铸币税， 就会出现亏损而不是利润。

If the seignorage had been two per cent., there would have been neither profit nor loss.

如果铸币税为 2%，则既无利润也无损失。

But if there had been a seignorage of four or five per cent.

但如果有百四或百五铸币税。

If the seignorage had been one per cent., there would have been a profit but of one per cent.

如果铸币税是百一，那么利润也只有百一。

If, before the late reformation of the gold coin, for example, there had been a seignorage of five per cent.

例如，如果在最近金币改革前， 有百五铸币税。

In France, however, though the seignorage is eight per cent., no sensible inconveniency of this kind is found to arise from it.

然而，在法国，虽然铸币税为百八，但并没有发现由此任何明显不便。

The coinage, another institution for facilitating commerce, in many countries, not only defrays its own expense, but affords a small revenue or a seignorage to the sovereign.

在许多国家，铸币是促进商业发展另一种制度，它不仅支付自己开支，而且还向君主提供少量收入或铸币税。

If it is greater than the seignorage, there will, indeed, be some profit, but less than if there was no seignorage.

如果它大于铸币税， 确实会有一些利润， 但比没有铸币税时要少。

Though the bank, therefore, paid no seignorage, though the government was properly at the expense of this coinage, this liberality of government did not prevent altogether the expense of the bank.

因此，尽管银行不支付铸币税， 尽管政府适当地为这种铸币付出代价， 但政府这种慷慨并没有完全阻止银行付出代价。

If the seignorage had been only one per cent., and the gold currency two per cent. below its standard weight, the bank would, in this case, have lost only one per cent.

如果铸币税仅为百一，而黄金货币为百。如果低于其标准权重，在这种情况下，银行只会损失百一。

They would neither lose nor gain, therefore, upon the whole transaction, and they would in this, as in all the foregoing cases, be exactly in the same situation as if there was no seignorage.

因此，在整个交易过程中，他们既不会损失也不会获利，而且在这种情况下，就像在上述所有情况下一样，他们将处于完全相同境地，就好像没有铸币税一样。

A small seignorage or duty upon the coinage of both gold and silver, would probably increase still more the superiority of those metals in coin above an equal quantity of either of them in bullion.

对黄金和白银铸币征收少量铸币税或关税，可能会进一步增加这些金属铸币优越性，超过同等数量金条。

They would, indeed, have had the seignorage to pay, which being two per cent., their loss upon the whole transaction would have been two per cent., exactly the same, but no greater than it actually was.

事实上，他们本应支付百铸币税，他们在整个交易中损失将是百，完全相同，但不会比实际情况大。

Wherever money is received by tale, therefore, and not by weight, a seignorage is the most effectual preventive of the melting down of the coin, and, for the same reason, of its exportation.

因此，凡是按故事而不是按重量收取货币地方，铸币税是防止硬币熔化最有效方法，出于同样原因，也是防止其出口最有效方法。

The directors of the bank, however, would probably be unwilling to agree to the imposition of a seignorage upon the authority of a speculation which promises them no gain, but only pretends to insure them from any loss.

然而，银行董事们可能不愿意同意对投机当局征收铸币税，这种投机承诺不会给他们带来收益，而只是假装为他们提供任何损失保险。