Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political EconomyMill, John Stuart
PhilosophyPhilosophy
Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
Mill, John Stuart
Economics
The increase in the population of the United States has been
enormous, as already seen, but the increase of production has been
still greater, owing to the fertility of our land, to improvements
in the arts, and to our great genius for invention, as may be seen
by the following table (amounts in the second column are given in
millions).(141) The steady increase of the valuation of our wealth
goes on faster than the increase of population, so that it
manifests itself in a larger average wealth to each inhabitant.
Decades. Valuation. Per cent Population. Per cent Per
of of capital
increase. increase. valuation.
1800 $1,742 .. 5,308,483 .. $328
1810 2,382 37 7,239,881 36 329
1820 3,734 57 9,633,882 33 386
1830 4,328 16 12,866,020 34 336
1840 6,124 41 17,069,453 33 359
1850 8,800 44 23,191,876 36 379
1860 16,160 84 31,443,321 35 514
1870 30,068 86 38,558,371 23 780
1880 40,000 33 50,155,783 30 798
If the productive powers of the country increase as rapidly as advancing
numbers call for an augmentation of produce, it is not necessary to obtain
that augmentation by the cultivation of soils more sterile than the worst
already under culture, or by applying additional labor to the old soils at
a diminished advantage; or at all events this loss of power is compensated
by the increased efficiency with which, in the progress of improvement,
labor is employed in manufactures. In one way or the other, the increased
population is provided for, and all are as well off as before. But if the
growth of human power over nature is suspended or slackened, and
population does not slacken its increase; if, with only the existing
command over natural agencies, those agencies are called upon for an
increased produce; this greater produce will not be afforded to the
increased population, without either demanding on the average a greater
effort from each, or on the average reducing each to a smaller ration out
of the aggregate produce.
Public-domain text, read in full here on John Shaqi.
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