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
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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
I only add, that I do not pretend that in fact slavery in antient times
did every where contribute to population, any more than I can affirm
that the spirit of industry in the Dutch is common to all free nations
in our days. All that is necessary for my purpose is, to set forth the
two principles, and to shew the natural effects of the one and the
other, with respect to the multiplication of mankind and advancement of
agriculture, the principal objects of our attention throughout this
book.
I shall at present enlarge no farther upon this matter, but return to
where I left off in the preceeding chapter, and take up the farther
examination of the fundamental distribution of inhabitants into
labourers and free hands.
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CHAP. VIII.
_What Proportion of Inhabitants is necessary for Agriculture, and what
Proportion may be usefully employed in every other Occupation?_
I have proposed this question, not with an intention to answer it fully,
but to point out how, with the proper lights given, it may be answered.
As I write under circumstances not the most favourable for having
recourse to books, I must employ those I have. The article _Political
Arithmetic_, of Mr. Chambers’s Cyclopedia, furnishes me with some
extracts from Sir William Petty, and Dr. Davenant, which I here intend
to employ, towards pointing out a solution of the question proposed.
These authors consider the state of England as it appeared to them, and
what they say is conclusive only with respect to that state.
Sir William Petty supposes the inhabitants of England to be six
millions, the value of grain yearly consumed by them ten millions
sterling, the bushel of wheat reckoned at 5_s._ and that of barley at
2_s._ 6_d._ If we cast the two together, and reckon upon an average,
this will make the quarter, or eight bushels of grain, worth 1_l._
10_s._ but in regard, the barley cannot amount to one half of all the
grain consumed, especially as there is a good quantity of rye made use
of, which is worth more than the barley, though less than the wheat; let
us suppose the grain worth 32_s._ _per_ quarter, at a medium; then ten
millions sterling will purchase six millions of quarters of grain, or
thereabouts: which used for nourishment, in bread and beer, gives the
mean quantity of one quarter, or 512 pounds of grain for every
inhabitant, including the nourishment of his proportional part of
animals; supposing that Sir William attended to this circumstance, for
it is not mentioned by Chambers. And I must observe, by the by, that
this computation may hold good as to England, where people eat so little
bread; but would not answer in France, nor in almost any other country I
have seen.
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