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
This difference must proceed from the greater proportion of labouring
and other inhabitants employed in consequence of tillage; which makes
the expence of it far greater than that of pasture. And since, in the
one and the other, every article of necessary expence or consumption,
appears to be proportionally equal among those concerned in both, that
is, proportional to the number of labouring inhabitants; it follows,
that the proportion of people employed in agriculture, and upon the
account of it, in different countries, is nearly in the ratio of the
gross produce to the land-rent; or in other words, in the proportion of
the consumption made by the farmers, and by those employed necessarily
by them, to the net produce; which is the same thing.
Now as the consumption upon corn farms is 7⁄9, and that upon pasture
5⁄12, the proportion of these two fractions must mark the ratio between
the populousness of pasture lands, and those in tillage; that is to say,
tillage lands in England were, at that time, peopled in proportion to
pasture lands, as 84 is to 45, or as 28 to 15.
This point being settled, I proceed to another; to wit, the application
of this net produce or surplus of the quantity of food and necessaries
remaining over and above the nourishment, consumption and expence, of
the inhabitants employed in agriculture; and which we have observed
above, to be equal to the land-rents of England, that is to say, to nine
millions yearly.
Must not this of necessity be employed in the nourishment, and for the
use of those whom we have called the _free hands_; who may be employed
in manufactures, trades, or in any way the state pleases.
Now the number of people, I take to be very nearly in the proportion of
the quantity of food they consume; especially when a society is taken
thus, in such accumulative proportion, and when all are found under the
same circumstances as to the plenty of the year.
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