Principles of Political Economy, Vol. 2Roscher, Wilhelm
General
Principles of Political Economy, Vol. 2
Roscher, Wilhelm
Economics
These economic rules, indeed, are applicable only to the extent that
higher and national considerations do not in the interest of all, create
exceptions to them. "Is not the life more than meat, and the body than
raiment?" No rational people will allow certain services to be performed
for them preponderantly by foreigners, even when they can be performed
cheaper by the latter--the services of religion, of the army, of the
state, etc. The same is true of landownership; and all the truer in
proportion as political and legal rights of presentation and other forms
of patronage are attached to it. Lastly, hypothecation-debts which go
beyond certain limits, may entail the same consequences as the complete
alienation of the land;[199-5] and Raynal may have been, under certain
circumstances, right when he said, that to admit foreigners to subscribe
to the national debt was equivalent to ceding a province to them.[199-6]
It is obvious that a great power may do much in this relation that would
be a risk to a small state.[199-7] [199-8]
[Footnote 199-1: "The transportation of productive capital
and industrial forces from one point where their services
are worse paid for, to another where they find a rich
reward, will not be apt to be made so long as the
equilibrium may be obtained [most frequently much more
easily] by the interchange of the products." (_Nebenius_,
Œff. Credit, I, 48.) The repeal of the corn laws in England
certainly diminished the emigration of English capital.]
[Footnote 199-2: For an official declaration of the
Brazilian state in this direction, see Novara Reise.]
[Footnote 199-3: Basing himself hereon, _Petty_, Political
Anatomy of Ireland, 82 ff., questions the usual opinion,
that Ireland suffered so much from absenteeism. He says that
a prohibition of absenteeism carried out to its logical
conclusion would require every man to sit on the sod he had
tilled himself. _Carey_, On the Rate of Wages, 1835, 477,
calls English capitalists who draw interest from America,
absentees.]
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