(24.) No equal capital puts in motion a greater quantity of productive labour than that of the farmer.[11] (25.) Cultivated land is more Free trade leaders urge the advantageous than pasture.[11] substitution of pasture for (It has been computed wheat cultivation in England. that wheat cultivation per acre, compared with pasture land, produces eight times the quantity of human food, and employs three times the amount of labour.) (26.) The interests of the agricultural and manufacturing classes are inseparably connected with those of the whole community. (27.) Credit when sound is Free trade is destroying credit capital.[12] by causing industries to work at a loss. (28.) Credit, when it exceeds the present value of future profits, is unsound. (29.) Credit is the anticipation of future profit.[12] (30.) Money is the accumulation of past profits. (31.) Activity of commerce is Free trade causes the commerce not necessarily an indication of Great Britain to be one of of prosperity. consumption rather than production, and consequently unhealthy. (32.) The true Economist pursues Free trade, to avoid a small a great future good present evil, risks a national at the risk of a small disaster. present evil.[13] FOOTNOTES: [3] Wealth of Nations, by Adam Smith. [4] Political Economy, by J. S. Mill. [5] Political Economy, by J. S. Mill. [6] Political Economy, by H. D. Macleod. [7] Wealth of Nations, by Adam Smith. [8] Political Economy, by F. Bastiat. [9] Political Economy, by H. D. Macleod. [10] Political Economy, by J. S. Mill. [11] Wealth of Nations, by Adam Smith. [12] Political Economy, by H. D. Macleod. [13] Political Economy, by F. Bastiat. CHAPTER VI. POLITICAL ECONOMY. Do not suppose, my Friend, that I am opposed to _political economy_; I am simply opposed to _your application of its principles_. Let me illustrate my meaning by a comparison between Mathematics and Political Economy:-- Mathematics may be divided into two classes--“pure” and “applied.” Political economy may be divided into two similar classes--“pure” and “applied.” _Pure_ Mathematics, being an exact science, is infallible. _Pure_ Political economy, being a matter of opinion, is not infallible; but let us for the moment suppose it to be so.[14]