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
If governments be taken in general, we shall find them analogous to the
spirit of the people. But the point under consideration is, how a
statesman is to proceed, when expediency and refinement require a change
of administration, or when it becomes necessary from a change of
circumstances.
The great alteration in the affairs of Europe within these three
centuries, by the discovery of America and the Indies, the springing up
of industry and learning, the introduction of trade and the luxurious
arts, the establishment of public credit, and a general system of
taxation, have entirely altered the plan of government every where.
From feudal and military, it is become free and commercial. I oppose
freedom in government to the feudal system, only to mark that there is
not found now, that chain of subordination among the subjects, which
made the essential part of the feudal form. The head there had little
power, and the lower classes of the people little liberty. Now every
industrious man, who lives with oeconomy, is free and independent, under
most forms of government. Formerly, the power of the barons swallowed up
the independency of all inferior classes. I oppose commercial to
military, only because the military governments now are made to subsist
from the consequences and effects of commerce: that is, from the revenue
of the state, proceeding from taxes. Formerly, every thing was brought
about by numbers; now, numbers of men cannot be kept together without
money.
This is sufficient to point out the nature of the revolution in the
political state, and of consequence in the manners of Europe.
The spirit of a people changes no doubt of itself, but by slow degrees.
The same generation commonly adheres to the same principles, and retains
the same spirit. In every country we find two generations upon the stage
at a time; that is to say, we may distribute into two classes the spirit
which prevails; the one amongst men between twenty and thirty, when
opinions are forming; the other of those who are past fifty, when
opinions and habits are formed and confirmed. A person of judgment and
observation may foresee many things relative to government, from an
exact application to the rise and progress of new customs and opinions,
provided he preserve his mind free from all attachments and prejudices,
in favour of those which he himself has adopted, and in that delicacy of
sensation necessary to perceive the influence of a change of
circumstances. This is the genius proper to form a great statesman.
In every new step the spirit of the people should be first examined, and
if that be not found ripe for the execution of the plan, it ought to be
put off, kept entirely secret, and every method used to prepare the
people to relish the innovation.
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