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
Were any Prince in Europe, whose subjects, I shall suppose, may amount
to six millions of inhabitants, one half employed in agriculture, the
other half employed in trade and industry, or living upon a revenue
already acquired; were such a Prince, I say, supposed to have authority
sufficient to engage his people to adopt a new plan of oeconomy,
calculated to secure them against the designs of a powerful neighbour,
who, I shall suppose, has formed schemes of invading and subduing them.
Let him engage the whole proprietors of land to renounce their several
possessions: or if that supposition should appear too absurd, let him
contract debts to the value of the whole property of the nation; let the
land-tax be imposed at twenty shillings in the pound, and then let him
become bankrupt to the creditors. Let the income of all the lands be
collected throughout the country for the use of the state; let all the
luxurious arts be proscribed; and let those employed in them be formed,
under the command of the former land proprietors, into a body of regular
troops, officers and soldiers, provided with every thing necessary for
their maintenance, and that of their wives and families at the public
expence. Let me carry the supposition farther. Let every superfluity be
cut off; let the peasants be enslaved, and obliged to labour the ground
with no view of profit to themselves, but for simple subsistence; let
the use of gold and silver be proscribed; and let all these metals be
shut up in a public treasure. Let no foreign trade, and very little
domestic be encouraged, but let every man, willing to serve as a
soldier, be received and taken care of; and those who either incline to
be idle, or who are found superfluous, be sent out of the country. I
ask, what combination, among the modern European Princes, would carry on
a successful war against such a people? What article would be wanting to
their ease, that is, to their ample subsistence? Their happiness would
depend upon the temper of their mind. And what country could defend
themselves against the attack of such an enemy? Such a system of
political oeconomy, I readily grant, is not likely to take place: but if
ever it did, would it not effectually dash to pieces the whole fabric of
trade and industry, which has been forming for so many years? And would
it not quickly oblige every other nation to adopt, as far as possible, a
similar conduct, from a principle of self-preservation.
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CHAP. XV.
_A general View of the Principles to be attended to by a Statesman, who
resolves to establish Trade and Industry upon a lasting footing._
The two preceding chapters I have introduced purposely to serve as a
relaxation to the mind, like a farce between the acts of a serious
opera. I now return to the place where I broke off my subject, at the
end of the twelfth chapter.
Public-domain text, read in full here on John Shaqi.
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 — John Shaqi
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