An Inquiry Into the Principles of Political Oeconomy; Being an Essay on the Science of Domestic Policy in Free Nations, in Which Are Particularly Con

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1770 edition. ... be quite extinguifhed ; becaufe, by this laft expedient, it may continue for fbme time to increafe their national ftock. It is in order to cut off even this refource, that fome nations lay not only importations under reftraint, but alfo the importers *. Let fuch precautions be carried to a certain length on all hands, and we fhall fee an end to the whole fyftem of foreign trade, fo much alamode, that it appears to become more and more the object of the attention as well as of the imitation of all modern ftatefmen. CHAP. XXV. tVben a rich Nation finds her Foreign Trade reduced to the Articles of Natural Produce, what is the beft plan to he followed? and what are the Conferences of fuch a Change of Circumflances f THERE is now no more queftion of a trading nation; this character is loft, the moment there is a ftop put to the export of the labour and u> genuity of her people.. The firft objects of her care fhould be to increafe, by every poffible means, the quantity of her natural produce ; to be as frugal as poffible in the confump.tion of it, and to export the furplus to the beft advantage. If me finds her exportation of fubfiftence going for.-ward, while fome of her people remain in want, fhe may reft affured that induftry is made to fuffer by fome internal vice ; and the moft probable caufe of fuch an effect will be found to be an unequal competition between thofe of the lower claffes, who work, for a Z 4 phyfical * By the a& of navigation in England. phyfical-neceffary. This muft be removed, and the ftatefman fhould never reft, until he has fet the balance of work and demand fo far right, as to prevent at leaft the fcale of work from preponderating ; for this is the door by which mifery gets in among the people. 'the fcale of demand...