As the necessaries and comforts of life must be produced before they can be distributed, and distributed before they can be consumed, the order of subjects seems to be determined by their nature. We propose to show what Labour can effect, and how it is to be encouraged and economized and rewarded: to treat of Capital, its nature and operation, and the proportions of its increase; and to exhibit the union of these two mighty agents of PRODUCTION. Under the second head, DISTRIBUTION, occur the great questions of Rent, Profits, Wages, and Population, the various modes of Interchange at home and abroad, including the consideration of all Monopolies, domestic and foreign. Under the third head, CONSUMPTION, are considered the modes of Demand and Supply, and of Taxation. All these and many more will be exemplified in sketches of society, in narratives of those who labour and earn and spend, who are happy or otherwise, according as the institutions under which they live are good or bad. There can be no lack of subjects for such tales in our own country, where the pauper and the prince, the beneficent landlord and the unreasonable tenant, the dissolute grandee and the industrious artizan, are to be found in the near neighbourhood of each other. If we look farther abroad into lands where different institutions vary the interests of individuals, we are furnished with rich illustrations of every truth our science can furnish. If we could hope to supply the interest as abundantly as society does the subject-matter of our tales, we should reckon upon their success and usefulness as certain. We will do our best. It is our design to affix to each volume a summary of the principles of Political Economy which it contains. In this volume only we shall prefix it, in order to lead the reader to a full understanding of the purpose of the work as he advances with it. _Summary of Principles illustrated in the first Volume._ Wealth consists of such commodities as are useful,—that is, necessary or agreeable to mankind. Wealth is to be obtained by the employment of labour on materials furnished by nature. As the materials of nature appear to be inexhaustible, and as the supply of labour is continually progressive, no other limits can be assigned to the operations of labour than those of human intelligence? And where are the limits of human intelligence? Productive labour being a beneficial power, whatever stimulates and directs this power is beneficial also. Many kinds of unproductive labour do this. Many kinds of unproductive labour are therefore beneficial. All labour for which there is a fair demand is equally respectable. Labour being a beneficial power, all economy of that labour must be beneficial. Labour is economized,