285-87) touches upon Greenspan's view on deflation. 10 Hume (1987, p. 284) stated: "To endeavour artificially to [i]ncrease [paper] credit, can never be the interest of any trading nation." 11 For the so-called Bullionist controversy, see Laidler (2000). 12 For Thornton's prominent accomplishments, see Hicks (1967b), Laidler (1987), Murphy (2009, pp. 189-214), Arnon (2011, pp. 96-125), and Wakatabe (2013, pp. 102-11).
8  and merchants attempt to sell off their goods in pursuit of money. At the same time, broadbased buying restraint emerges.13 As a result, "the manufacturer, on account of the unusual scarcity of money, may even, though the selling price of his article should be profitable, be absolutely compelled by necessity to slacken, if not suspend, his operations" (Thornton 1978, p. 118).