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
Let us now borrow the idea of a primitive society, of a government, of a
king, from the most antient history we have, the better to point out the
effects of agriculture and multiplication. The society is the whole
taken together; it is Jacob, his sons, their wives, their children, and
all the servants. The government regards the institutions prescribed by
Jacob, to every one of the family, concerning their respective
subordination and duty. Multiplication will here go forward, not in
proportion to the generative faculty, but according to the employment of
the persons already generated. If Jacob continue pasturing his herds, he
must extend the limits of his right of pasture; he must multiply his
stock of cattle, in proportion as the mouths of his family augment. He
is charged with all this detail: for he is master, and director, and
statesman, and general provider. His servants will work as they are
ordered; but if he has not had the proper foresight, to break up lands
so soon as his family comes nearly up to that proportion which his
flocks can easily feed; if in this case, a dry season should burn up the
grass in Palestine, he will be obliged to send some of his stock of
cattle, with some of his family, to market, there to be sold; and with
the price he must buy corn. For in this early age, there was money,
there were manufacturers of sackcloth, of common rayment, and of
party-coloured garments; there was a trade in corn, in spicery, balm,
and myrrh. Jacob and his family were shepherds, but they lived not
entirely on flesh; they eat bread: consequently there was tillage in
those days, though they exercised none. The famine however was ready to
destroy them, and probably would have done it, but for the providential
circumstance of Joseph’s being governor of Egypt. He relieved their
distress, he gave to his family the best country in the whole kingdom
for pasture; and they had a gratuitous supply of bread.
No doubt, so long as these favourable circumstances subsisted,
multiplication would go on apace. What supernatural assistance God was
pleased to grant for the increase of his chosen people, does not concern
my inquiry.
I have mentioned transiently this example of the patriarch, only to
point out how antient the use of money, the invention of trade and
manufactures appear to have been. Without such previous establishments,
I consider mankind as savages, living on the spontaneous fruits of the
earth, as in the first supposition; and confined, as to numbers, to the
actual extent of these productions.
From what has been said, we may conclude, that the numbers of mankind
must depend upon the quantity of food produced by the earth for their
nourishment; from which, as a corollary, may be drawn,
That mankind have been, as to numbers, and must ever be, in proportion
to the food produced; and that the food produced will be in the compound
proportion of the fertility of the climate, and the industry of the
inhabitants.
Public-domain text, read in full here on John Shaqi.
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