An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxesSteuart, James, Sir
History
An Inquiry into the Principles of Political Oeconomy (Vol. 1 of 2): Being an essay on the science of domestic policy in free nations. In which are particularly considered population, agriculture, trade, industry, money, coin, interest, circulation, banks, exchange, public credit, and taxes
Steuart, James, Sir
Economics
I have already distinguished the fruits of agriculture from the earth’s
spontaneous production: I must farther take notice, that when I employ
the term agriculture in treating of modern policy, I always consider it
to be exercised as a trade, and producing a surplus, and not as the
direct means of subsisting, where all is consumed by the husbandman, as
has been fully explained above. We have said, that it is the surplus
produced from it, which proves a fund for multiplying inhabitants. Now
there must be a demand for this surplus. Every person who is hungry will
make a demand, but every such demand will not be answered, and will
consequently have no effect. The demander must have an equivalent to
give: it is this equivalent which is the spring of the whole machine;
for without _that_ the farmer will not produce any surplus, and
consequently he will dwindle down to the class of those who labour for
actual subsistence. The poor, who produce children, make an ineffectual
demand, and when they cannot increase the equivalent, they divide the
food they have with the new comers, and prove no encouragement to
agriculture. By dividing, the whole become ill fed, miserable, and thus
extinguish. Now because it is the _effectual_ demand, as I may call it,
which makes the husbandman labour for the sake of the equivalent, and
because this demand increases, by the multiplication of those who have
an equivalent to give, therefore I say that multiplication is the cause,
and agriculture the effect. On the other hand, I think the spontaneous
fruits of the earth, as in the supposition, may be considered as the
cause of a certain limited multiplication; because in that case there is
no equivalent demanded. The earth produces, whether her fruits be
consumed or not: mankind are fed upon these gratuitously, and without
labour, and the existence of the fruits is anterior to the production of
those who are to consume them. Those who are first fed, draw their
vigour from their food, and their multiplication from their vigour.
Those who are produced, live freely upon their parent earth, and
multiply until all the produce be consumed: then multiplication stops,
as we have said; _but establish agriculture_, and multiplication will go
on a-new. Consequently, my reader will say, agriculture is as much the
cause of this new multiplication, as the spontaneous fruits were of the
first. Here is a very natural conclusion, which seems directly to
contradict what we have been endeavouring to prove; but the knot is
easily untied. We have seen how the existence of agriculture must depend
upon the industry of man; that is, on the only means _of establishing
agriculture_: now, as this industry is chiefly promoted by the motive of
providing for our children, the procreation of them must be considered
as the first, or at least the most palpable political cause of setting
mankind to work, and therefore may be considered as anterior to
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