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 high prices of most things in large cities is surely a benefit, not
a loss to the country. But I must observe, that the great expence of
living in capitals does not affect the lower classes, nor the moderate
and frugal, in any proportion to what it does the rich. If you live on
beef, mutton, bread, and beer, you may live as cheap in London and in
Paris as in most cities I know. These articles abound, and though the
demand be great, the provision made for supplying it is in proportion.
But when you come to fish, fowl, and game; delicacies of every kind
brought from far, by the post, by ships, and messengers; when you have
fine equipages, large houses, expensive servants, and abundance of waste
in every article, without one grain of oeconomy in any, it is no wonder
that money should run away so fast.
I do not, from what has been said, conclude, that there is any evident
advantage in having so overgrown a capital as London in such a kingdom
as England; but only that I do not find great force in the objections I
have met with against it. That there may be others which I do not know,
I will not deny, because I am not sufficiently acquainted with that
kingdom to be a competent judge of the matter.
Let me now conclude this chapter, by mentioning in what respects I think
cities an advantage, in general, to a country; and, as I go along, I
shall point out wherein they prove a disadvantage, in particular, to
some parts of it.
The general advantages of them are;
I. To remove the unnecessary load upon the land; those idle people, who
eat up a part of the produce of labour without contributing to it.
II. The opportunity of levying taxes, and of making these affect the
rich, in proportion to the consumption they make, without hurting
industry or exportation.
III. The advantages resulting to the landed interest are no less
considerable. This is proved by universal experience: for we see every
where, that the moment any city, town, or village, begins to increase,
by the establishment of trade or manufactures, the lands round about
immediately rise in their value. The reason of this seems easily deduced
from the above principles.
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