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
I have called this Lacedemonian republic a perfect plan of political
oeconomy; because it was a system, uniform and consistent in all its
parts. _There_, no superfluity was necessary, because there was no
occasion for industry, to give bread to any body. _There_, no
superfluity was permitted, because the moment the limits of the
absolutely necessary are transgressed, the degrees of excess are quite
indeterminate, and become purely relative. The same thing which appears
superfluity to a peasant, appears necessary to a citizen; and the utmost
luxury of this class, frequently does not come up to what is thought the
mere necessary for one in a higher rank. Lycurgus stopt at the only
determined frontier, the pure physical necessary. All beyond this was
considered as abusive.
The only things in commerce among the Spartans were,
_1mo._ What might remain to them of the fruits of their lot, over their
own consumption; and _2do._ The work of the slaves employed in trades.
The numbers of these could not be many, as the timber of their houses
was worked only with the saw and ax; and every utensil was made with the
greatest simplicity. A small quantity, therefore, of iron coin, as I
imagine, must have been sufficient for carrying on the circulation at
Sparta. The very nature of their wants must, as I have said, terminate
all their commerce, in the exchange of their surplus-food of their
portions of land, with the work of the manufacturing slaves, who must
have been fed from it.
As the Lacedemonians had no mercantile communication with other nations,
the iron coin was no more than a bank note of no intrinsic value, as I
suppose, but a middle term introduced for keeping accounts, and for
facilitating barter. An additional argument for this opinion of the coin
being of no intrinsic value, is, that it is said to have been rendred
unserviceable for other uses, by being slaked in vinegar. In order
consequently to destroy, as they imagined, any intrinsic value which
might therein otherwise remain. If this coin, therefore, was made of an
extraordinary weight, it must have been entirely with a political view
of discouraging commerce and circulation, an institution quite
consistent with the general plan, and nowise a consequence of the
baseness of the metal of which it was made: a small quantity of this,
with the stamp of public authority for its currency and value, would
have answered every purpose equally well.
Let me now conclude this chapter by an illustration of the subject,
which will still more clearly point out the force of the principles upon
which this Lacedemonian republic was established.
Public-domain text, read in full here on John Shaqi.
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