the pound sterling at all times, and how fractions in the denomination of coin may be avoided, 17. Small coins to be current only for 20 years, and 639 large coins for 40 years, or more, 18. All foreign coins to pass for bullion only, —— Consequences of these regulations, —— ------------------------------------------------------------------------ AN INQUIRY INTO THE PRINCIPLES OF POLITICAL OECONOMY. ------------------------------------------------------------------------ BOOK I. OF POPULATION AND AGRICULTURE. ------------------------------------------------------------------------ INTRODUCTION. Oeconomy in general is the art of providing for all the wants of a family, with prudence and frugality. If any thing necessary or useful is found wanting, if any thing provided is lost or misapplied, if any servant, any animal, is supernumerary or useless, if any one sick or infirm is neglected, we immediately perceive a want of oeconomy. The object of it, in a private family, is therefore to provide for the nourishment, the other wants, and the employment of every individual. In the first place, for the master, who is the head, and who directs the whole; next for the children, who interest him above all other things; and last for the servants, who being useful to the head, and essential to the well-being of the family, have therefore a title to become an object of the master’s care and concern. The whole oeconomy must be directed by the head, who is both lord and steward of the family. It is however necessary, that these two offices be not confounded with one another. As lord, he establishes the laws of his oeconomy; as steward, he puts them in execution. As lord, he may restrain and give his commands to all within the house as he thinks proper; as steward, he must conduct with gentleness and address, and is bound by his own regulations. The better the oeconomist, the more uniformity is perceived in all his actions, and the less liberties are taken to depart from stated rules. He is no ways master to break through the laws of his oeconomy, although in every respect he may keep each individual within the house, in the most exact subordination to his commands. Oeconomy and government, even in a private family, present therefore two different ideas, and have also two different objects.