| OCR Text |
Show 41~ ON THE I:MMEDIATE CAUSES [cH. YII.' hours in the day, would communicate the san1e enjoyn1ents, and create a consumption of the satne ·value, foreign markets would be useless. We know however from experience, that very few countries are capable of producing comn1odities of the same efficacy, in this respect, as those which may be obtained by a trade to various climates and soils. Without such a trade, and \Vith a great increase in the power of production, there is no inconsiderable danger that industry, consumption, and exchangeable value \Vould din1inish; and this danger would most unquestionably be realized if the cheapness of domestic cotnmodities occa~ sioned by machinery, were to lead to increased saving rather than to increased expenditure. But it is known that facilities of production have the strongest tendency to open rparkets, both at home and abroad. In the actual state therefore of most countries, th'ere 1s little reason to apprehend any pern1anent evil from the introduction of tnachinery. The presumption always is, that it will lead to a great extension of \vealth and value. But still vve must allo\V that the prc-en1inent advantages derived fron1 the substitution of n1achinery for tnanuallabour, depend upon the extension of the market for the con1n1odities produced, and the increased stin1ulus given to consutnption; and that, without this extension of n1arket and increase of consumption, they must be in a great c~egree lost. Like the fertility of land, the invention of good 1nachinery confers a prodigious power of production. But neither of these oTeat powers b . .. ~EC. VI.] OF THE PROGRESS OF \VEALTH. 413 -canl be called fully into action, if the situation and circutnstances, or the habits and tastes of the society prevent the opening of a sufficient market, and an adequate increase of consumption. The three great causes most favourable to production are, accumulation of capital, fertility of soil, and inventions to save labour. They all act in the satne direction; and as they all tend to facilitate supply, without reference to detnand, it is not probable that they should either separately or conjointly afford an adequate stimulus to the continued increase of \vealth, which can only be kept up by a continued increase of the demand ·for comtnodities. SECTION VI. Of t!te Necessity of a U11ion of the Powers of Production with the Means of Distribution, in order to ensure a ~ontinued Increase cif Wealth. We have seen that the po\vers of production, to whatever e-xtent they may exist, are not alone sufficient to secure the creation of a proportionate degree of wealth. Sotnething else see1ns to be necessary in order to call these powers fully into action; and this is, such a distribution of produce, and such an adaptation of this produce to the wants of those who are to consume it, as con- · stantly to increase the exchq.ngeable value of the whole mass. |
