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
agriculture; whereas, on the other hand, the earth’s spontaneous
productions being in small quantity, and quite independent of man,
appear, as it were, to be furnished by nature, in the same way as a
small sum is given to a young man, in order to put him in a way of
industry, and of making his fortune. The small sum sets him a-going, but
it is his industry which makes the fortune. From this illustration it
appears, that if the demand for food can be more readily supplied from
abroad than from home, it will be the foreign subsistence, which will
preserve numbers, produced from _industry_, not from _domestic
agriculture_; and these numbers will, in their turn, produce an
advancement of it at home, by inspiring a desire in the husbandman to
acquire the equivalent which their countrymen give to strangers.
Such nations, whose statesmen have not the talent to engage the
husbandmen to wish for the equivalent, which the labour of their
fellow-citizens can produce; or, in other words, who cannot create
reciprocal wants and dependencies among their subjects, must stand in a
moral incapacity of augmenting in numbers. Of such states we have no
occasion to treat in this chapter, any more than of those who are
supposed to be in the physical incapacity of multiplying: our point of
view is, to examine the natural consequences resulting from a demand for
subsistence extending itself to foreign countries. This I take to be the
mother of industry at home, as well as of trade abroad; two objects
which come to be treated of in the second book.
A country may be fully peopled (in the sense we understand this term) in
several different ways. It may be fully stocked at one time with six
millions, and at another may maintain perhaps eight or even nine
millions with ease, without the soil’s being better cultivated or
improved. On the other hand, a country may maintain twenty millions with
ease, and by being improved as to the soil, become overstocked with
fifteen millions. These two assertions must be explained.
The more frugal a people are, and the more they feed upon the plentiful
productions of the earth, the more they may increase in numbers.
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