We fully admit that a state cannot have at its command more wealth than may be employed for the general good. But neither can individuals, or bodies of individuals, have at their command more wealth than may be employed for the general good. If there be no limit to the sum which may be usefully laid out in public works and national improvement, then wealth, whether in the hands of private men or of the government, may always, if the possessors choose to spend it usefully, be usefully spent. The only ground, therefore, on which Mr. Southey can possibly maintain that a government cannot be too rich, but that a people may be too rich, must be this, that governments are more {156}likely to spend their money on good objects than private individuals. But what is useful expenditure? “A liberal expenditure in national works,” says Mr. Southey, “is one of the surest means for promoting national prosperity.” What does he mean by national prosperity? Does he mean the wealth of the state? If so, his reasoning runs thus: The more wealth a state has the better; for the more wealth a state has the more wealth it will have. This is surely something like that fallacy, which is ungallantly termed a lady’s reason. If by national prosperity he means the wealth of the people, of how gross a contradiction is Mr. Southey guilty. A people, he tells us, may be too rich: a government cannot: for a government can employ its riches in making the people richer. The wealth of the people is to be taken from them, because they have too much, and laid out in works, which will yield them more. We are really at a loss to determine whether Mr. Southey’s reason for recommending large taxation is that it will make the people rich, or that it will make them poor. But we are sure that, if his object is to make them rich, he takes the wrong course. There are two or three principles respecting public works, which, as an experience of vast extent proves, may be trusted in almost every case. It scarcely ever happens that any private man or body of men will invest property in a canal, a tunnel, or a bridge, but from an expectation that the outlay will be profitable to them. No work of this sort can be profitable to private speculators, unless the public be willing to pay for the use of it. The public will not pay of their own accord for what yields no profit or convenience to them. There is thus a direct and {157}Previous connection between the motive which induces individuals to undertake such a work, and the utility of the work.