On the quantity of disposable national capital. And the law which says,
"such or such an article shall be limited to home production and no
longer imported from foreign countries," can it in any degree increase
this capital? Not in the least. This law may withdraw it from one
course, and transfer it to another; but cannot increase it one penny.
Then it cannot increase the demand for labor.
While we point with pride to some prosperous manufacture, can we answer,
from whence comes the capital with which it is founded and maintained?
Has it fallen from the moon? or rather is it not drawn either from
agriculture, or navigation, or other industry? We here see why, since
the reign of protective tariffs, if we see more workmen in our mines and
our manufacturing towns, we find also fewer sailors in our ports, and
fewer laborers and vine-growers in our fields and upon our hillsides.
I could speak at great length upon this subject, but prefer illustrating
my thought by an example.
A countryman had twenty acres of land, with a capital of 10,000 francs.
He divided his land into four parts, and adopted for it the following
changes of crops: 1st, maize; 2d, wheat; 3d, clover; and 4th, rye. As he
needed for himself and family but a small portion of the grain, meat,
and dairy-produce of the farm, he sold the surplus and bought oil, flax,
wine, etc. The whole of his capital was yearly distributed in wages and
payments of accounts to the workmen of the neighborhood. This capital
was, from his sales, again returned to him, and even increased from year
to year. Our countryman, being fully convinced that idle capital
produces nothing, caused to circulate among the working classes this
annual increase, which he devoted to the inclosing and clearing of
lands, or to improvements in his farming utensils and his buildings. He
deposited some sums in reserve in the hands of a neighboring banker, who
on his part did not leave these idle in his strong box, but lent them to
various tradesmen, so that the whole came to be usefully employed in the
payment of wages.
The countryman died, and his son, become master of the inheritance, said
to himself: "It must be confessed that my father has, all his life,
allowed himself to be duped. He bought oil, and thus paid _tribute_ to
Province, while our own land could, by an effort, be made to produce
olives. He bought wine, flax, and oranges, thus paying _tribute_ to
Brittany, Medoc, and the Hiera islands very unnecessarily, for wine,
flax and oranges may be forced to grow upon our own lands. He paid
tribute to the miller and the weaver; our own servants could very well
weave our linen, and crush our wheat between two stones. He did all he
could to ruin himself, and gave to strangers what ought to have been
kept for the benefit of his own household."
Public-domain text, read in full here on John Shaqi.
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