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
Now as to the rise in the price of wood for burning, I say, it proceeds
not from the rise of the price of timber growing in forests, so much as
from the increase of the price of labour, and principally of the price
of transportation. This is not peculiar to France alone, but is common
to all Europe almost, for the reasons I shall presently give. But in the
first place, as to the matter of fact, that the rise in the price
proceeds from the cause assigned, may be seen, by comparing the low
price of an acre of standing forest, with the great value of the timber
when brought to market: the first is the neat value of the wood; the
last includes that of the labour.
Next as to the price of labour; the rise here is universal in all
industrious nations, from a very plain reason, easily deducible from the
principles above laid down.
While the land remained loaded with a number of superfluous mouths,
while numbers were found in every province employed in agriculture, for
the sake of subsistence, merely, such people were always ready to employ
their idle hours and days, for a very small consideration from those who
employed them. They did not then depend upon this employment for their
subsistence; and a penny in their pocket purchased some superfluity for
them. But when modern policy has by degrees drawn numbers from the
country, the few that remain for the service of the public must now
labour for their subsistence; and he who employs them, must feed them,
clothe them, and provide for all their other wants. No wonder then, if
labour be dearer: there is a palpable reason for the augmentation.
The price of all necessaries has risen, no doubt, partly for the same
reason, and this circumstance certainly enters into the combination: but
work, in the country especially, has risen far beyond the proportion of
the price of necessaries, and will rise still more as the lands become
better purged of superfluous mouths.
Notwithstanding what I have said, I readily allow, that the great
consumption of wood for burning, but more particularly for forges, has
considerably raised the intrinsic value of forest lands; but the
consequence has not been, to extend the forests, as we have shewn, but
to produce a general revenue from them all over the kingdom; whereas
formerly, in many provinces, they produced almost nothing. When they
were cut, cattle were turned in, and by eating up the tender shoots from
year to year, the forest ran into a wild, neither producing timber, nor
pasture. This practice was established upon the ruling principle of
private interest. The land was not worth the expence of grubbing up the
timber; the timber when grown, did not compensate the loss of a few
years pasture. No jurisdiction, however well administred, can check the
operation of that principle; and a statesman who would attempt it, would
be called a tyrant: he would distress the husbandman, and do no service
to the state.
Public-domain text, read in full here on John Shaqi.
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