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
There is no governing a state in perfection, and consequently no
executing the plan of a right distribution of the inhabitants, without
exactly knowing their situation as to numbers, their employment, the
gains upon every species of industry, the numbers produced from each
class. These are the means of judging how far those of a particular
trade or occupation are in a situation to bring up a family. To examine,
on the other hand, the state of the higher classes who do not labour,
the ease of their circumstances, and the use the state has for their
service, may appear superfluous. Since those who do not work, must be
supposed to have wherewithal to live; and consequently, not to stand in
need of assistance. But this is not every where, nor always the case:
many excellent subjects are lost to a state, for want of a proper
attention in the statesman to this object.
I have observed how necessary a thing it was to govern a people
according to their spirit: now by governing I understand, protecting,
cherishing, and supporting, as well as punishing, restraining, and
exacting. If, therefore, there be found in any country, a very numerous
nobility, who look upon trade and the inferior arts, as unbecoming their
birth; a good statesman must reflect upon the spirit of former times,
and compare it with that of the present. He will then perceive, that
these sentiments have been transmitted from father to son, and that six
generations are not elapsed since, over all Europe, they were
universally adopted: that although the revolution we talked of in the
10th chap. has in effect rendered them less adapted to the spirit of the
present times, they are however productive of excellent consequences;
they serve as a bulwark to virtue, against the allurements of riches;
and it is dangerous to force a set of men who form a considerable body
in a state, from necessity, to trample under foot, what they have been
persuaded from their infancy to be the test of a noble and generous
mind.
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