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
Statesmen have sometimes recourse to artifice instead of reason, because
their intentions often are not upright. This destroys all confidence
between them and the people; and confidence is necessary when you are in
a manner obliged to ask a favor, or when at least what you demand is not
indisputably your right. A people thus tricked into an imposition,
though expedient for their prosperity, will oppose violently, at another
time, a like measure, even when essential to their preservation.
At other times, we see statesmen presenting the allurement of present
ease, precisely at the time when people’s minds are best disposed to
receive a burden. I mean when war threatens, and when the mind is heated
with a resentment of injuries. Is it not wonderful, at such a time as
this, to increase taxes only in proportion to the interest of money
wanted; does not this imply a shortsightedness, or at least an
indifference as to what is to come? Is it not more natural, that a
people should consent to come under burdens to gratify revenge, than
submit to repay a large debt when their minds are in a state of
tranquillity.
From the examples I have given, I hope what I mean by the spirit of a
people is sufficiently understood, and I think I have abundantly shewn
the necessity of its being properly disposed, in order to establish a
right plan of oeconomy. This is so true, that many examples may be
found, of a people’s rejecting the most beneficial institutions, and
even the greatest favors, only because some circumstance had shocked
their established customs. No wonder then, if we see them refuse to come
under limitations, restraints and burdens, when the utmost they can be
flattered with from them, is a distant prospect of national good.
I have found it necessary to premise these general reflections, in order
to obviate many objections which might naturally enough occur in the
perusal of this inquiry. I shall have occasion to make a number of
suppositions, and to draw consequences from them, which are abundantly
natural, if a proper spirit in the people be presupposed, but which
would be far from being natural without this supposition. I suppose, for
example, that a poor man, loaded with many children, would be glad to
have the state maintain them; that another, who has wasted lands, would
be obliged to one who would gratuitously build him a farm-house upon it.
Yet in both suppositions I may prove mistaken; for fathers there are,
who would rather see their children dead than out of their hands; and
proprietors are to be found, who, for the sake of hunting, would lay the
finest country in Europe into a waste.
In order to communicate an adequate idea of what I understand by
political oeconomy, I have explained the term, by pointing out the
object of the art; which is, to provide food, other necessaries, and
employment to every one of the society.
This is a very simple and a very general method of defining a most
complicated operation.
Public-domain text, read in full here on John Shaqi.
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