Advantage- Profit- INDEX Coincident with, 73-4, 75-6 Test of, the employment of produc- Agriculture- Advantages of, natural and social, America, in-Carver quoted, 147 Colonies, British, in, protective Land laws, A. Smith's views regard- Monopoly in the sphere of, 144-5 Ashley, Prof., Economic Surveys by, cited, 15 n., 201-3 Australia- Consumer in, position of, 128 Bargaining, townsmen's advantages Bentham cited, 255 Bogart, Dr. E. L., Economic History of the United States by, quoted, 259 n. Employment of— Four modes of, 44 Bounties to induce, question as Investors' advantage in, 2, 106 British investments abroad- Increase in rate of, 105 High profits from, 77, 199 Overflow, representing, 78, 105, Scope for, 70 Security of, as compared with that of investment in agri- Smith's views on, xii, 65, 68, Unproductive purposes, for, 81 Forms of, complexity and variety of, Individual's most profitable invest- ment of, in relation to national ad- Labour's interests in relation to, 39 Mobility of, necessary for foreign Money attribute of, 30-31 Money fundamentally important in creation and application of, 30 Profit on, requisite for employment Replacement of, out of annual pro- Wages, proportion distributed in, 126 Carrying trade- Comparison of, with other forms of Effect, not cause, of wealth, 67-8 Chamberlain, J., quoted, on colonies, Cheapness- Free trade argument from, 109-12; Reactions of, on employment and Cobden, R., quoted, on Peel's econo- Colonies, British. (For particular Affection of, for mother country, 231 Capital desired by, 248 Defence, duty of, recognised by, v, Emigration field for British popula- Expenses, not revenue, a source of, Self-government, grants of, 227, Immigration to, of many nationalities, Imperial federation scheme for, A. Method of, proposed, 240-2 Revenue for, sources of, suggested, Colonies, British, contd.- Taxation, new, requisite for, 238 North America, in (present U.S. A.)— Expenses of government in, 191 Navigation Act as affecting, 203 Project of Empire," constituting, Trade of- British- Monopoly- of, supposed, Advantage Former, 228 and n.o, 229 Modern proposed revival of, Protective policy in, 173 n., 174, 196 Colonies, French, 190 Colonies, Greek, 188-9, 193, 211, 231, Colonies, new, causes of prosperity of, Colonies, Roman, 188-9, 193, 213, 224 Commercial union of the empire, see Imperial union-Free Trade Congo State, 183, 232 Consumers and producers, interests of- Identity of, in the mass, 126, 132, 134-5 Wealth of Nations on, miscon- ceptions as to, 117-20 Ad valorem duty on all imports, British system of, proposed extension source of imperial defence revenue, 244-5, Excise duties in relation to- Balance of excise duties by customs Excess of customs duties over excise on "goods of same kind," 161-2 Retaliatory, see Retaliation Revenue, for, A. Smith's view of, Excise duties, contd.— Countervailing, 263 Customs duties in relation to, see Experience, necessity of appeal to, 113, Exports- Bounties on, 79 Capital, of, see under Capital Coal, of, A. Smith's attitude towards Colonial, to mother country, bounties Drawbacks on, 165 Excess of, over imports, "balance of Gladstone's duties on (1860-63), Growth of, as a test of prosperity, Imports paid for by, 51-2; value Kinds of, relative advantages of 56 Limitations of, 70 Mun's England's Treasure by Foreign Nearer, more advantageous than the Varieties of, relative advantages of, Wealth of foreign nations advantage- Aix-la-Chapelle Treaty (1748), 180 Commercial Treaty with (1860), Gladstone's defence of, 124-5 War with Britain (1755-62), 180 Advantages of, needing demonstra- tion, enumerated, 133-4 Imperial union, under, see Imperial Separation of colonies accompanied Customs to balance excise, 160-61; extensions of prin- Infant industries, 173-4 Vested interests, 171-3 Importance of, 150, 152, 174 Home manufactures, A. Smith's Negative argument for- Differential duties, difficulties as Navigation Act (1660), a good ex- Present importance of, 150-2 |