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public d'une manière qui ne restraigne ni la propriété ni la liberté, et qui par conséquent ne soit pas destructive.

"Proportion essentielle et nécessaire de l'impôt direct avec le produit net, telle qu'elle donne à la société le plus grand revenu public qui soit possible, et par conséquent le plus grand dégré possible de sûreté, sans que le sort des propriétaires fonciers cesse d'être le meilleur sort dont on puisse jouir la société.

"Monarchie héréditaire, pour que tous les intérêts présens et futurs du dépositaire du l'autorité souveraine, soient intimement liés avec ceux de la société par le partage proportionnel du produit net.”

NOTE B. Page 211.

Mr Barton, in an ingenious pamphlet, published in 1817, entitled, "Observations on the Circumstances which influence the Condition of the Labouring Classes," has contended, in opposition to the principles laid down in this work, that the introduction of machinery most commonly occasions a decline in the demand for labour. Mr Barton has illustrated his argument by the following statement, which we shall take the liberty briefly to examine:

"As the doctrine, that the progress of population is measured by the increase of wealth, does not appear to be true in fact, so, on the other hand, it seems to me not consistent with sound reasoning. It does not seem that every accession of capital necessarily sets in motion an additional quantity of labour. Let us suppose a case: a manufacturer possesses a capital of £1000, which he employs in maintaining twenty weavers, paying them £50 per annum each. His capital is suddenly increased to £2000. With double means he does not, however, hire double the number of workmen, but lays out £1500 in erecting machinery, by the help of which five men are enabled to perform the same quantity of work that twenty did before. Are there not, then, fifteen men discharged in consequence of the manufacturer having increased his capital?

"But does not the construction and repair of the machinery employ a number of hands? Undoubtedly. As in this case a sum of £1500 was expended, it may be supposed to have given employment to thirty men for a year at £50 each; if calculated to last fifteen years (and machinery seldom wears out sooner,) then thirty workmen might always supply fifteen manufacturers with these machines: therefore, each manufacturer may be said constantly to employ two. Imagine, also, that one man is employed

in the necessary repairs; we have then five weavers and three machine-makers where there were before twenty weavers.

"But the increased revenue of the manufacturer will enable him to maintain more domestic servants. Let us see, then, how many. His yearly revenue, being supposed equal to 10 per cent on his capital, was before £100, now £200: supposing, then, that his servants are paid at the same rate as his workmen, he is able to hire just two more. We have, then, with a capital of £2000, and a revenue of £200 per annum,

5 weavers,

3 machine-makers,

2 domestic servants.

10 persons in all employed.

"With half the capital, and half the income, just double the number of hands were set in motion."-Pp. 15, 16.

But plausible as this statement may at first sight appear, it will not, we apprehend, be very difficult to show, that the conclusions at which Mr Barton has arrived, are not fairly deduced from the premises he has laid down, and that, in the case supposed, there would not be a diminution, but an increase of the demand for labour.

In the first place, supposing, with Mr Barton, profits to be 10 per cent, the goods produced by the capital which the manufacturer laid out upon the twenty weavers must have sold for £1100, viz. £1000 to replace the capital, and £100 as profits.

In the second of the supposed cases, the manufacturer employs a capital of £1500 in the construction of a machine: now, as this machine is fitted to last fifteen years, the goods produced by it must sell (exclusive of the wages of the men employed to attend to it) for £197; for a part of this annuity (£47) being accumulated for fifteen years, at the rate of 10 per cent, will replace the capital of £1500 at the expiration of that period, while the other part (£150) will pay the profits of the proprietor; and, adding to the annuity of £197 the wages of the five weavers, and of the person employed to repair the machine, at the rate of £50 a-year each, and profits on them at 10 per cent, the total cost of the goods will be

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But, previously to the introduction of the machine, the same quantity of goods cost £1100: the consumers will consequently have the difference, or £573 to lay out on other things; the production of which will afford immediate employment for between eleven and twelve men. But this is not all. According to the principle explained at p. 209, a portion of this saving—perhaps £250 of the £593-will, in future, be employed as a capital in carrying on industrious undertakings; and in this way a fresh fund will be provided that will furnish wages, or the means of subsistence, for a number of individuals, (most probably five,) at the end of the first year, more than would otherwise have been employed; and supposing, as we ought, that this sum goes on increasing at the rate of 10, or even that it increases only at the rate of 5 per cent compound interest, it would very soon afford the means of employing a vast number of individuals.

There is also another fund, of the existence of which Mr Barton appears to have been as completely unaware as of the latter. It has been seen that of the £197 produced directly by the machine, £150 only are profits; the surplus £47 being the annuity which is to replace the capital of the machine when it is worn out; but as this annuity is to be accumulated at the rate of 10 per cent, it. will afford employment, in the first year, for one individual; in the second for two; in the third for more than three; in the fifth for nearly six; and in the fifteenth year for upwards of eight-andtwenty individuals !

It will be observed, too, that in the second case supposed by Mr Barton, there is £200 not employed at all; and which, if employed, would afford wages for four individuals. Instead, therefore, of a single labourer being turned out of employment, in the case supposed, or in any similar case, it admits of demonstration, that the demand for labour would be much more than doubled.

INDEX.

ABLE-BODIED POOR. See Poor.
ABSENTEEISM-not detrimental to a country

as regards the expenditure of absen-
tees, 158-non-residence may retard or
prevent the improvement of estates and
the refinement of society, ib. note.
ABSOLUTE MONARCHY. See Monarchy.
ACCIDENTS-measures expedient for their
prevention, 304.
"ACCOUNT OF THE TURKISH EMPIRE,"
(Thornton's) cited, 85 note
ACCUMULATION-man's desire to better his

condition, impels him to accumulate,
14, 53, 575-but for the passion for
accumulation. man could never have
emerged from the savage state, 18-all
improvements in all ages and nations to
be ascribed to the force of the accumu-
lating principle, ib.-the passion for,
infinitely stronger and more universal
than the passion for expense, ib. 115,
206, 430-1-economy in the public ex-
penditure so conducive to the accumu
lation of national wealth, not the exclu-
sive attribute of any form of government,
57-accumulation and employment of
capital essential to the production of
labour, and the progress of society, 79,
115-security of property as indispen-
sable to accumulation as to production,
82-83-division and combination of em-
ployments cannot be carried to any
considerable extent, without previous ac-
cumulation of capital, 103-accumula-
tion of capital and division of labour act
and re-act on each other, ib.-various
considerations, illustrative of the im-
portance of the accumulation and em-
ployment of capital, ib. 108-high profits
add force to the parsimonious principle,
110-Adam Smith quoted as to the
force and prevalence of this principle.
115-this spirit happily compared by
Smith to the unknown principle of ani-
mal life, 116-supposition erroneous that
in all cases the operations of the principle
are promoted by a large public expendi-
ture, ib. no limits to the passion for,
206-tendency of life-annuities to weaken
the principle of, 257-tendency of life-
insurance to strengthen habits of, 260-
whatever tends to promote accumula-
tion, contributes to advance the interests
of labour, 399-influence of Savings'
Banks in encouraging accumulation

among the poor, 479-480-tendency of
a taste for luxuries to promote accumula-
tion, 575.

ACTS OF PARLIAMENT. See Legislature.
ADDISON the establishment of a Foundling
Hospital in London, recommended by
him, 247.

ADULTERATION of food should be most
severely punished, 293.
AGITATION. See Ireland.
AGRICULTURAL LABOURERS. See Labourers.
AGRICULTURAL SURVEY OF THE WEST
RIDING OF YORKSHIRE, (Brown's)cited,
459 note.

AGRICULTURE-as an occupation, viewed
more favourably by the ancient Greeks
and Romans, than manufactures or
commerce, 10, 11-some of the most
distinguished characters in Roman his-
tory actively engaged in rural affairs, 11
-in the flourishing period of the Roman
republic, and under the Emperors, the
soil was mostly cultivated by the slaves
of the landlord, ib.-preference given to,
by Quesnay, over manufactures and com-
merce, 4 labour employed in manu-
factures and commerce, as creative of
utility and wealth as that employed in
agriculture, 49, 173-error of Smith and
others in considering it the most produc-
tive. 55, 171, 175-definition of agri-
cultural labour, as distinguished from
commercial and manufacturing, 73-no
certain conclusion as to the prosperity of
a country can be drawn from its agricul-
ture, 113, 114-Mr Young quoted, to
the effect that husbandry is never good
where rent is low, 118, 516-17-the non-
residence of landlords may retard or
prevent agricultural improvements, 158
note the transition from the pastoral
to the agricultural mode of life, the
most important step in the progress of
society, 172-173-advantages derived
from the employment of capital in agri-
culture, ib.Cicero's panegyric on,
quoted, 173-no real distinction between
agricultural and manufacturing industry,
175, 179-Nature more favourable to
manufactures than to agriculture, 176—
agricultural, manufacturing, and com-
mercial industry inseparably connected,
179-Edinburgh Review quoted as to
their mutual dependence, 180-181-re-
vulsions in, instanced, to prove that

peculiar prosperity in any one branch of
industry is almost invariably the har-
binger of mischief, 222-3-the equalisa-
tion of the market price of its produce,
and the cost of production, gradual but
certain, 331-a provision for able-bodied
poor, may not be necessary in agricul-
tural countries, 447-important distinc-
tion between agricultural and commer-
cial, and manufacturing industry, 494-6
-influence of agricultural improvements
on prices and rents, 495-503-improve-
ments are so blended with the soil, that
the gross rental of a country cannot be
accurately divided into rent proper, and
profits on capital expended, 499-con-
sequent inequality and mischievous ope-
ration of taxes on rent, ib. 500-miscon-
ception entertained as to the influence
of improvements over rent, 503-im-
provements in, as advantageous to
owners and occupiers of land as to
others, 503-illustrations of the influence
of improvements over corn and money
rents, 503-6-nature and causes of ordi-
nary agricultural improvements, 506—
the slow progress of improvements ac-
counted for, 507-8-Rigby's Preface to
Chateauvieux on the Agriculture of Italy
quoted on this head, 507-Kennedy and
Grainger quoted on the same subject,
507-8-importance and advantage of im-
provements in, ib--influence of the va-
rious modes of letting land on the pros-
perity of, 510-523-advantages derived
from leases, 511-A tenant at will, from
the precarious nature of his tenure,cannot
expend money on improvements, 511-13
-Mr Loudon quoted on this subject,
512-beneficial effects of leases on Scotch
agriculture, 513-different methods of
determining the rents of farms, and the
advantages or disadvantages of each
pointed out, 513-16-evils attending the
under or over renting of land, 516-19-
impossible to lay down any rule as to the
proper size of farms, 520-expediency
of inserting in leases conditions as to
management, 519-520-objections to
small farms stated, 521-3-conferring the
elective franchise on farmers most inju-
rious to agriculture, 523-5-consideration
of the circumstances which determine
agricultural profits, 531-542-necessity
of resorting to inferior soils for food, one
of the real causes of the reduction of
profits in populous countries, 537-in-
fluence of the decreasing productiveness
of the soil in checking the progress of po-
pulation, 537-540-effect of improve-
ments in counteracting the influence of
increasing sterility of soil, 541-2-the fall
of profits consequent on resorting to in-
ferior soils sooner felt in an improving
country which excludes foreign corn,
542-3 signal benefits conferred on agri-
culture by the introduction of steam
communication, bone manure, furrow
draining, &c., 545-inmense increase
of the produce of, since 1770, ib. 546-
wretched system of husbandry in Ireland,
and its great capacities for farther pro-
duction, ib.-advantages that may result
there from the act against sub-letting, the
adjustment of its tithes, and its new poor-
laws, 546-7-still great room for im-

provement in the agriculture of Great
Britain, 547-agriculture not likely to be
injured by the corn-trade measures of
1846. 547-550-prices of agricultural
produce in 1767, 1768, and 1770 com-
pared with those of 1810 and 1811, 554-5.
AGRICULTURISTS-during the middle ages
they had not the comparative security
enjoyed in cities and towns, 33-sue-
cessfully contested by Quesnay, that their
interests, and those of all other classes, are
best promoted by a system of perfect
freedom, 47-advantages resulting to,
from the formation of a separate mer-
cantile class, 142-manufacturing popu-
lation more intelligent than agricultu-
rists, 186-188-the patriotism of those
engaged in commerce not less ardent
than that of agriculturists, 196-agricul-
tural improvements as advantageous to
owners and occupiers of land as to others,
503-cause of the agricultural class being
the least disposed to innovation, 507-
qualities essential to the successful agri-
culturist,526-Mr Loudon and Mr Burke
quoted as to the smallness of their pro-
fits, 526-7.

AIR (ATMOSPHERIC), instanced as a product
necessary and agreeable to man, but
possessing no exchangeable value, 3,
5, 6.
ALCOCK'S " Observations on the Effects of
the Poor Laws" cited, 459 note.
AMBITION-effect of, in strengthening man's

progressive nature, 77-want and ambi-
tion continually prompt man to new un-
dertakings, 239-240-when it is praise-
worthy, and when censurable, 574-5-
quotation from Lucretius on this subject,
575.

AMERICA-high rate of profit in, and its bene-
ficial effects, 111-evil effects of the vi-
cious state of banking in the United
States, 219-effects of the wanton over-
issue of paper money in the United
States during 1835 and 1836 instanced
as an example, ib., 220-rapid increase
of population in, accounted for, 233-4-
advantages of the system of voluntary
enlistment for the American navy, 385-6
AMUSEMENTS-influence of the taste for, in
stimulating industry, 588.

ANALYSIS of the Statistical Account of
Scotland" cited, 118 note.
ANCIENTS-rules and inferences drawn from
the contemplation of society in antiquity,
wholly inapplicable for our guidance at
present, 191-cause of the hostility felt
by ancient philosophers to commercial
pursuits, 195-196-prevalence of infan-
ticide among them, 244.

ANDERSON (Dr James)-the true theory of

rent first unfolded by him, 483-histori-
cal notice of this gentleman, and list of
his works, 483-4 notes-his profound
and important disquisitions neglected by
the public, 483 note-his exposition of
the origin and nature of rent quoted,
486-7.
ANNUITIES, LIFE. (See Life Annuities)—Mr
Milne's work on, cited, 259 note.
APPRENTICESHIP-influence of, on the rate of

wages, 387-injurious effects of unneces
sarily long terms of, to employers and
workmen, 388-the statute of appren
ticeship not repealed till 1814, despite the

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