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 let me throw in a circumstance which may imply an additional
consumption at home, and then examine the consequences.
A poor creature, who has no equivalent to offer for food, who is
miserable, and ready to perish for want of subsistence, goes a-hunting,
and kills a wolf; he comes to a farmer with the skin, and says; You are
well fed, but you have no brandy; if you will give me a loaf, I will
give you this skin, which the strangers are so fond of, and they will
give you brandy. But, says the farmer, I have no more bread than what is
sufficient for my own family. As for that, replies the other, I will
come and dig in your ground, and you and I will settle our account as to
the small quantity I desire of you. The bargain is made; the poor fellow
gets his loaf, and lives at least; perhaps he marries, and the farmer
gets a dram. But had it not been for this dram, (that is, this new want)
which was purchased by the industry of this poor fellow, by what
argument could he have induced the farmer, to part with a loaf.
I here exclude the sentiment of charity. This alone, as I have often
observed, is a principle of multiplication, and if it was admitted here,
it would ruin all my supposition; but as true it is, on the other hand,
that could the poor fellow have got bread by begging, he would not
probably have gone a-hunting.
Here then it appears, that the very dawning of trade, in the most
unpolished countries, implies a multiplication. This is enough to point
out the first step, and to connect the subject of our present inquiries
with what has been already discussed in relation to other circumstances.
I proceed.
So soon as all the furs are disposed of, and a taste for superfluity
introduced, both the traders and the natives will be equally interested
in the advancement of industry in this country. Many new objects of
profit for the first will be discovered, which the proper employment of
the inhabitants, in reaping the natural advantages of their soil and
climate, will make effectual. The traders will therefore endeavour to
set on foot many branches of industry among the savages, and the
allurements of brandy, arms, and clothing, will animate these in the
pursuit of them. Let me here digress for a few lines.
If we suppose slavery to be established in this country, then all the
slaves will be set to work, in order to provide furs and other things
demanded by the traders, that the masters may thereby be enabled to
indulge themselves in the superfluities brought to them by the
merchants. When liberty is the system, every one, according to his
disposition, becomes industrious, in order to procure such enjoyments
for himself.
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