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
The whole gross produce of England we have said to be 21,000,000_l._
sterling, of which 9 millions have remained for those not employed in
agriculture; the farmers, therefore, and their attendants, must annually
consume 12 millions; consequently the last class is to the first as 12
is to 9. If therefore, according to Dr. Davenant, there be 5,545,000
people in that kingdom, there must be about 3,168,571 employed or
dependent upon agriculture, and 2,376,429 free hands for every other
occupation. But this proportion of farmers will be found far less, if we
reflect, that we have reckoned for them the total amount of the three
articles above mentioned, that is to say, the total consumption they
make, as well in manufactures, profits upon their labour, &c. as for
food and necessaries; whereas there has been nothing reckoned for the
free hands, but the land-rent: consequently there should be added to the
number of the latter as many as are employed in supplying with all sorts
of manufactures the whole of the farmers of England, and all those who
depend upon them; and this number must be taken from one and added to
the other class.
If this number be supposed to amount to four hundred thousand, it will
do more than cast the balance upon the opposite side.
From these matters of fact (in so far as they are so) we may conclude:
I. That the raising of the rents of lands shews the increase of
industry, as it swells the fund of subsistence consumed by the
industrious; that is, by those who buy it.
II. That it may denote either an increase of inhabitants, or the
depopulation of the land, in order to assemble the superfluous mouths in
villages, towns, &c. where they may exercise their industry with greater
conveniency.
While the land-rents of Europe were very low, numbers of the inhabitants
appeared to be employed in agriculture; but were really no more than
idle consumers of the produce of it. This shall be farther illustrated
in the subsequent chapters.
III. The more a country is in tillage, the _more_ it is inhabited, and
the smaller is the proportion of _free hands_ for all the services of
the state. The more a country is in pasture, the _less_ it is inhabited,
but the greater is the proportion of _free hands_.
I do not pretend, as I have said above, that there is any calculation to
be depended on in this chapter; I have only endeavoured to point out how
a calculation might be made, when the true state of England comes to be
known.
This question not being of a nature to enter into the chain of our
reasoning, may be considered rather as incidental than essential; I have
therefore treated it superficially, and chiefly for the sake of the
conclusions.
Our next inquiry will naturally be into the principles which determine
the residence of inhabitants, in order to discover why, in all
flourishing states, cities are now found to be every where increasing.
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