Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy — John Stuart Mill — John Shaqi
Principles of Political Economy: Abridged with Critical, Bibliographical, and Explanatory Notes, and a Sketch of the History of Political Economy
John Stuart Mill · en
That speculation has been excited at different times by the
opening up of our Western country, there can be no doubt. And if a
comparison be made with Chart No. XVII (Book IV, Chap. III), which
gives the total grain-crops of the United States, it will be seen
that since 1879, although our population has increased from 12-½
per cent to 14 per cent, our grain-crops only 5 per cent, yet our
railway mileage has increased 40 per cent.
The extent to which the United States has carried
railway-building, as compared with European countries, although we
have a very much greater area, is distinctly shown by Chart No.
VII. This application of one form of improvement to oppose the law
of diminishing returns in the United States has produced
extraordinary results, especially when we consider that we are
probably not yet using all our best lands, or, in other words,
that we have not yet felt the law of diminishing returns in some
large districts.
Chart VI.
_Miles of Railroad in Operation on the 1st January in each Year, and the
Miles added in the Year Ensuing._
Year. Miles of Railroad. Miles added.
1865 33,908 1,177
1866 35,085 1,716
1867 36,801 2,449
1868 39,250 2,979
1869 42,229 4,615
1870 46,844 6,070
1871 52,914 7,379
1872 60,293 5,878
1873 66,171 4,107
1874 70,278 2,105
1875 72,383 1,713
1876 74,096 2,712
1877 76,808 2,281
1878 79,089 2,687
1879 81,776 4,721
1880 86,497 7,048
1881 93,545 9,789
1882 103,334 11,591
1883 114,925 6,618
Railways and canals are virtually a diminution of the cost of production
of all things sent to market by them; and literally so of all those the
appliances and aids for producing which they serve to transmit. By their
means land can be cultivated, which would not otherwise have remunerated
the cultivators without a rise of price. Improvements in navigation have,
with respect to food or materials brought from beyond sea, a corresponding
effect.
§ 4. —In Manufactures.