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
But, says one, were it not for this extraordinary consumption, every
thing would be cheaper. This I readily allow; but will any body say,
that reducing the price of the earth’s productions is a method to
encourage agriculture, especially in a country where grounds are not
improved, and where they cannot be improved; chiefly, because the
expence surpasses all the profits which possibly can be drawn from the
returns? High prices therefore, the effect of great consumption, are
certainly advantageous to the extension of agriculture. If I throw my
rich corn fields into gravel-walks and gardens, I suppose they will no
more come into competition with those of my neighbour, the laborious
husbandman. Who will then lose by my extravagance? Not the husbandman.
It will perhaps be said, the nation in general will lose; because you
deprive them of their food. This might be true, were the laying waste
the corn fields a sudden revolution, and extensive enough to affect the
whole society; and were the sea-ports and barriers of the kingdom shut:
but that not being the case, the nation, upon the smallest deficiency,
goes to market with her money, and loses none of her inhabitants.
OBJ. But if living is made dear, manufacturers must starve, for want of
employment.
ANSW. Not those who supply home consumption, but only those who supply
foreigners living more cheaply; and of such I know but few. The interest
of this class shall be fully examined in another place. At present I
shall only observe, that the laying waste corn fields in an industrious
country, where refinement has set on foot a plan of useful husbandry,
will have no other effect, than that of rendring grain for a while
proportionally dearer: consequently, agriculture will be thereby
encouraged; and in a few years the loss will be repaired, by a farther
extension of improvement. This will make food plentiful and cheap: then
numbers will increase, until it become scarce again. It is by such
alternate vicissitudes, that improvement and population are carried to
their height. While the improvement of lands goes forward, I must
conclude, that demand for subsistence is increasing; and if this be not
a proof of population, I am much mistaken.
I can very easily suppose, that a demand for _work_ may increase
considerably, in consequence of an augmentation of riches only; because
there is no bounds to the consumption of _work_; but as for articles of
nourishment the case is quite different. The most delicate liver in
Paris will not put more of the earth’s productions into his belly, than
another: he may pick and choose, but he will always find, that what he
leaves will go to feed another: victuals are not thrown away in any
country I have ever been in. It is not in the most expensive kitchens
where there is found the most prodigal dissipation of the abundant
fruits of the earth; and it is with such that a people is fed, not with
ortolans, truffles, and oysters, sent from Marenne.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account