of Peru. (Economies royales I, ch. 81. See however, II, p. 381). _Montchrêtien_, Traité d’Économie politique (1615) 81, 172 seq. According to _Sir D. North’s_ Discourses upon Trade, 1691, wealth is synonymous with freedom from want, and the ability to procure many comforts, while _Temple_ (ob. 1700, Works I, 140 seq.) looks entirely at the subjective side of wealth. _Pollexfen_, “England and East India inconsistent in their Manufactures” (1697), considers gold and silver as the only real wealth. To this definition Davenant (ob. 1714), opposes another. Wealth, according to him, is whatever places prince or people in a condition of superabundance, peace and security. See his Works, I, p. 381 seq. He even reckons intellectual powers, alliances etc., among the national wealth. Compare _W. Roscher_, Zur Geschichte der englischen Volkswirthschaftslehre 1851, in the acts of the royal Saxon Academy of Sciences, vol. III. _Vauban_ (Dime royale 1707), Daire’s edition, says: “The real wealth of a people consists in an abundance of those things, the use of which is so necessary to sustain the life of man, that they cannot at all be dispensed with.” By the wealth of a people _Galiani_, Della Moneta II, c. 2, understands the aggregate of all lands, houses, movable property, money, etc. which belong to them, but, that the chief element of wealth, and the condition precedent of all others, is men themselves. Hence, the process of the impoverishment of a people in their decline, takes the following course: money first emigrates, next, population diminishes, afterwards, the houses fall in ruin, finally, the land itself becomes a waste. According to _Broggia_, wealth is _un avanzo osia valore di tutto cio che avanza al proprio consumo e bisogno_, Delle Monete, 1743, IV, 307, 314; Cust. _Palmieri_ (ob. 1794), also says: _il superfluo constituisce la richezza_. (Publica Felicità.) According to _Turgot_, Sur la Formation et Distribution des Richesses 1771, § 90, the wealth of a nation consists in the net proceeds of landed property capitalized at the ordinary price of land, and then of the aggregate of all the movable property of the country. _Büsch_, Geluumlauf III, § 27, considers a certain duration of the produce or revenue as an essential element in the idea of wealth. _Lauderdale_, Inquiry, ch. II, distinguishes national wealth and private wealth; the former embracing all that man covets as agreeable or desirable; while it is one of the marks of the latter, that there should be no general superfluity of it on hand. Several modern English economists call wealth only that, the production of which cost human labor. Thus, _Malthus_, Definitions (1827) p. 234. _Torrens_, Production of Wealth, 1821, ch. I.