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
France, at present, is in her infancy as to improvement, although the
advances she has made within a century excite the admiration of the
world. I shall not go far in search of the proof of this assertion.
Great tracts of her lands are still uncultivated, millions of her
inhabitants are idle. When all comes to be cultivated, and all are
employed, then she will be in a state of perfection, relatively to the
moral possibility of being improved. The people are free, slavery is
unknown, and every man is charged with feeding himself, and bringing up
his children. The ports of the country are open to receive subsistence,
and that nation, as much as any other, may be considered as an
individual in the great society of the world; that is, may increase in
power, wealth, and ease, relatively to others, in proportion to the
industry of her inhabitants. This being the case, all the principles of
political oeconomy, which we have been inquiring after, may freely
operate in this kingdom.
France has arrived at her present pitch of luxury, relatively to
consumption, by slow degrees. As she has grown in wealth, her desire of
employing it has grown also. In proportion as her demands have
increased, more hands have been employed to supply them; for no article
of expence can be increased, without increasing the work of those who
supply it. If the same number of inhabitants in the city of Paris
consume four times as much of any necessary article as formerly, I hope
it will be allowed, that the production of such necessaries must be four
times as abundant, and consequently, that many more people must be
employed in providing them.
What is it that encourages agriculture, but a great demand for its
productions? What encourages multiplication, but a great demand for
people; that is, for their work? Would any one complain of the
extravagant people in Paris, if, instead of consuming those vast
superfluities, they were to send them over to Dover, for a return in
English gold? What is the difference between the prodigal consumption,
and the sale? The one brings in money, the other brings in none: but as
to food and necessaries, for providing the poor and frugal, their
contingent, in either case, stands exactly the same.
Public-domain text, read in full here on John Shaqi.
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