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
Were the people of England to come more into the use of living upon
bread, and give over consuming so much animal food, inhabitants would
certainly increase, and many rich grass fields would be thrown into
tillage. Were the French to give over eating so much bread, the Dutch so
much fish, the Flemish so much garden stuff, and the Germans so much
sourkraut, and all take to the English diet of pork, beef, and mutton,
their respective numbers would soon decay, let them improve their
grounds to the utmost. These are but reflections, by the by, which the
reader may enlarge upon at pleasure. The point in hand is, to know what
are the consequences of a country’s being so peopled, no matter from
what cause, that the soil, in its actual state of fertility, refuses to
supply a sufficient quantity of such food as the inhabitants incline to
live upon. These are different according to the diversity of spirit in
the people.
If they be of an indolent disposition, directed in their political
oeconomy by established habits and old prejudices, which prevent
innovations, although a change of circumstances may demand them, the
effect will be to put a stop to population; which cannot augment without
an increase of food on one hand, and of industry on the other, to make
the first circulate. These must go hand in hand: the precedence between
them is a matter of mere curiosity and speculation.
If, on the contrary, a spirit of industry has brought the country to a
certain degree of population, this spirit will not be stopt by the want
of food; it will be brought from foreign countries, and this new demand,
by diminishing among them the quantity usually produced for their own
subsistence, will prompt the industrious to improve their lands, in
order to supply the new demand without any hurt to themselves. Thus
trade has an evident tendency towards the improvement of the world in
general, by rendering the inhabitants of one country industrious, in
order to supply the wants of another, without any prejudice to
themselves. Let us make a step further.
The country fully stocked can offer in exchange for this food, nothing
but the superfluity of the industry of the free hands, for that of the
farmers is supposed to be consumed by the society; except indeed some
species of nourishment or productions, which, being esteemed at a higher
value in other countries than in those which produce them, bring a more
considerable return than the value of what is exported, as when raw silk
and delicate wines, &c. are given in exchange for grain and other
provisions.
Public-domain text, read in full here on John Shaqi.
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