Principles of Political EconomyPerry, Arthur Latham
General
Principles of Political Economy
Perry, Arthur Latham
Economics
Diversity of Advantage both natural and acquired is the sole ground of
Trade both domestic and foreign; and consequently by means of trade
the peculiar advantages of each are fully shared in by all.
It is perhaps less obvious but surely equally true, that the greater
the relative diversity of advantage as between two exchangers, the
more profitable does the exchange become to each. If the Vale of
Sharon had been twice as fertile as it was, and the cedars of Lebanon
twice as large and lofty as they were, the easier and better would
Israel have gotten its timber, and the more secure and abundant would
have become the food of Tyre and Sidon; and, therefore, the more
unreasonable, or rather the more absurd and wicked, would have been
any envy or jealousy of either of the superior advantages at any point
or points of the other. So universally. By the divine Purpose as
expressed in the constitution of Nature, in the structure of Man, and
in the laws of Society, Trade in good measure and degree imparts to
each the bounties of all, arms each with the power of all, and impels
each by the progress of all.
One other important matter is closely connected with these two
Renderings, which is the fifth bit in succession of our present
analysis, namely this, that traffic renderings always make necessary
new and better routes of travel and transportation. It is mainly for
this reason, that persons and things have to be carried to distances
less or greater in order to consummate these Renderings of home and
foreign commerce, that roads by land and routes by sea have been
sought for and found, made and made shorter, improved as to method and
facilitated as to force, from the dawn of History until the present
hour. It was to get the goods of India, and so find a market for the
goods of Europe, that the earliest land routes between the two were
tried and maintained. The ground-thought of Columbus, meditated on for
years, was to discover a new commercial way to India; Magellan with
the same intent sailed westward through the Straits that wear his
name, and so circumnavigated the globe; repeated searches mainly with
the mercantile view, never long intermitted, have attempted ever since
the North-West or the North-East passage to India; Vasco da Gama in
1497 boldly accomplished the East passage, and thus changed for all
the Continents the channels of trade; the West now trades with all the
East through the Suez Canal, dug for that express purpose; and the
words, "Panama" and "Nicaragua" are upon everybody's lips, simply
because through Central America is the shortest and safest route for
men and goods to and from all the Oceans.
Public-domain text, read in full here on John Shaqi.
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