Produced by Frank van Drogen, Carol Brown, Gwen Adams, Elizabeth Oscanyan, and the Online Distributed Proofreading Team at https://www.pgdp.net. Transcriber's Note: A monospaced font will display the tables in this book better than a variable-spaced font. PRINCIPLES OF POLITICAL ECONOMY BY WILLIAM ROSCHER, PROFESSOR OF POLITICAL ECONOMY AT THE UNIVERSITY OF LEIPZIG, CORRESPONDING MEMBER OF THE INSTITUTE OF FRANCE, PRIVY COUNSELLOR TO HIS MAJESTY, THE KING OF SAXONY. FROM THE THIRTEENTH (1877) GERMAN EDITION. WITH ADDITIONAL CHAPTERS, FURNISHED BY THE AUTHOR, FOR THIS FIRST ENGLISH AND AMERICAN EDITION, ON PAPER MONEY, INTERNATIONAL TRADE, AND THE PROTECTIVE SYSTEM; AND A PRELIMINARY ESSAY ON THE HISTORICAL METHOD IN POLITICAL ECONOMY (From the French) BY L. WOLOWSKI, THE WHOLE TRANSLATED BY JOHN J. LALOR, A. M. VOL. II. [Illustration: Printer's Logo] NEW YORK: HENRY HOLT & CO. 1878. Entered according to Act of Congress, in the year eighteen hundred and seventy-eight, BY CALLAGHAN & CO., In the office of the Librarian of Congress, at Washington, D. C. DAVID ATWOOD, STEREOTYPER AND PRINTER, MADISON, WIS. TO WILLIAM H. GAYLORD, ESQ., _COUNSELOR AT LAW_, OF CLEVELAND, OHIO, TO WHOSE BROTHERLY CARE IT IS LARGELY DUE THAT I LIVED TO TRANSLATE THEM, THESE VOLUMES ARE AFFECTIONATELY INSCRIBED. BOOK III. DISTRIBUTION OF GOODS. CHAPTER 1. INCOME IN GENERAL. SECTION CXLIV. RECEIPTS.--INCOME.--PRODUCE. The idea covered by the word receipts (_Einnahme_) embraces all the new additions successively made to one's resources within a given period of time.[144-1] Income, on the other hand, embraces only such receipts as are the results of economic activity. (See §§ 2, 11.) Produce (_Ertrag_, _produit_) is income, but not from the point of view of the person or _subject_ engaged in a business of any kind, but from that of the business itself, or of the _object_ with which the business is concerned, and on which it, so to speak, acts.