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
The 500 farmers feed 1000; and we suppose the lands laboured as in a
good English farm. One of the society proposes to augment the number of
inhabitants by introducing a more operose species of agriculture, the
produce of which may be _absolutely_ greater, though relatively less.
The first question the statesman would naturally put to this reformer
would be, What is your view in increasing the number of our inhabitants,
is it to defend us against our enemies, is it to supply the wants of
strangers, and thereby to enrich ourselves, is it to supply our own
_wants_ with more abundance, or is it to provide us more abundantly with
_food_? I can hardly find out any other rational view in wishing for an
additional number of people in any country whatsoever. Let it be
answered, that all these ends may be thereby obtained: and now let us
examine how far this reformation upon agriculture will have the effect
of increasing inhabitants, how far such increase will procure the ends
proposed, and how far the execution of such a plan is a practicable
scheme to an industrious people.
If the inhabitants be not sufficiently fed, which is the only thing that
can prevent their multiplication, it must proceed from one of two
causes. Either _first_, that those do procreate who cannot produce an
equivalent for the food of their children; or _secondly_, that industry
making a quicker progress than agriculture, the industrious come too
strongly in competition with one another, for the surplus of food to be
found; which has the effect of raising the prices of it, and reducing
the portions too low to suffer a division; and thereby of preventing
marriage and multiplication in the lower classes of the free hands.
In the first case, it is to no purpose to increase the produce of
agriculture, by rendering it more expensive; for those who have no
equivalent to give when food is cheap, will still be in greater
necessity when it rises in the price. In the second case, it is to no
purpose to diminish the surplus of the farmers, because the supposition
proves that the balance is already too heavy upon the side of the free
hands, that is, that the surplus of the farmers is already become
insufficient fully to feed them.
Two remedies may be proposed for this inconveniency, the one tending to
population, the other to depopulation; and as the end to be compassed is
to set the balance even between husbandmen and free hands, I shall
explain both, and point out _how far_ from principles it appears, that
in either way the end may be attained.
Public-domain text, read in full here on John Shaqi.
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