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 in any country which actually produces nourishment for its
inhabitants, according to the progression above-mentioned, (p. 27.) a
plan is set on foot for the extension of agriculture; the augmentation
must be made to bear a due proportion to the progress of industry and
wants of the people, or else an outlet must be provided for disposing of
the superfluity. And if, at setting out, a foreign consumption cannot be
procured for the produce of husbandry, the greatest caution must be had
to keep the improvement of the soil within proper bounds: for, without
this, the plan intended for an improvement will, by over-doing, turn out
to the detriment of agriculture. This will be the case, if the fruits of
the earth be made to increase faster than the numbers and the industry
of those who are to consume them. For if the whole be not consumed, the
regorging plenty will discourage the industry of the farmer.
But if, together with an encouragement to agriculture, a proper outlet
be found for the superfluity, until the numbers and industry of the
people, by increasing, shall augment the home-consumption, which again
by degrees will diminish the quantity of exportation, then the spring
will easily overcome the resistance; it will dilate; that is, numbers
will continue to increase.
From this may be derived another principle: _That agriculture, when
encouraged for the sake of multiplying inhabitants, must keep pace with
the progress of industry; or an out-let must be provided for all
superfluity_.
In the foregoing example, I have supposed no exportation, the more to
simplify the supposition: I was, therefore, obliged to throw in a
circumstance, in order to supply the want of it; to wit, an augmentation
of inland demand from the suspension of hunting; and I have supposed
those who formerly supported themselves by this, to consume the
superfluous food of the farmers for the price of their labour. This may
do well enough as a supposition, and has been made use of only to
explain principles; but the manners of a people are not so easily
changed; and therefore I have anticipated a little the supposition of
trade, only to shew how it must concur with industry, in the advancement
of agriculture and multiplication.
Let me next consider the consequences of an augmentation of agriculture
in a country where the inhabitants are lazy; or where they live in such
simplicity of manners, as to have few wants which labour and industry
can supply. In this case, I say, the scheme of agriculture will not
succeed; and, if set on foot, part of the grounds will soon become
uncultivated again.
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