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Show 4~0 ON THE IMMEDIATE CAUSES ( CH.Vll. h . hb th ives the o-reatstimulus to accumulation, \V lC 0 g b . · · 1 and makes that accun1ulatton effective tn t 1C con-tinued production of 'vealth. . M S. dt" 1·n his late work, speaktng of the • 1Sll1011 , . • . limits of accun1ulation, observes.," On ne fatt Jatn.ais aprc).. s t ou t qu'echano-er la totahte de la production b • · 1 de l'annee contre la totahte de la production c e l'annee precedente."* If this \\rere really the case, it \VOtdd be difficult to say how the value of the national produce could ever be increased. But in *Nouveaux Principcs d'Economie Politique, tom: i .. p. 120. 1 quite aaree with M. Sis1nondi in many of his pr!nc1ples rc- • 0 spectmcr consump t.w n and demand., but I do n. ot thmk that the · oh. h he takes of the formation of natwnal revenue, on VIeW W IC • · t which all increase of consumption and demand depcn?s, IS JUS ; and I can by no means go with him in the fears whtch h.c ex- presses about machm. ery, an d s t.1l l 1e ss I· n the opinion wluch he holds respecting the necessity of a frequent interference on the part of government to protect individuals, and classes, ft~om the consequences of compet.it .w n. w·1 t h regm· d to populatiOn, he has misunderstood my work more than I could have cxprctcd from so able and distinguished a writer. lie says, that my rc~sonina is completely sophistical, because I have compared the n rtual 0 increase of populati.O n wi• th the posz•t z•v e 1• ncrcasc o f foo.d . B.u t surely I have compared the "C.z rtua l I· ncrease o f Po pulatwn w1 th the virtual increase of food; and the positi'Ve increase of popula-tion with the positive increase of food; an~ the g:eatc~· .part~~: my book is taken up with the latter companson. I racticct1ly Sismondi goes much farther than I do in his apprehensions of af redundant popul at.w n, an d proposes to repress it by all ~orts o stranae means. I never have recommen de d , noi· ev er shall ' any o . . h 1 b .. classes t 1lC other means than those of explammg to t e a ounng . manner in which their interests are affected, by too great an m.- . · tl c posi-crease Qf their numbers, and of removing or weakenmg 1 d tive laws which tend to discourage habits of prudence an foresight. SEC. VI.] OF THE PUOGRESS OF ':VEAL'fll. 421 fact a great increase of productions may immediately find an adeq uatc n1arket, and cxpcrie11cc consequently a great increase of exchangeable value, if they are so well distributed and so ,veil adapted to the tastes and wants of the society as to excite the desire of making an adequate sacrifice in order to procure and consume thetn. All increase of commodities she\vs itself first in increased revenue; and as long as they increase in value as well as in quantity by being properly distributed and the consun1ption properly proportioned to the supply, it is obvious that a yearly saving n1ay take place consistently with a yearly increase of revenue and a yearly increase of expenditure and demand. The fortune of a country, though necessarily made n1ore slo,vly, is made in the san1e way as tbe fortunes of individuals in trade are generally made, -by saviugs, certainly; but by saviugs which arc furnished fron1 increased gains, and by no n1eans involve a diminished expenditure on objects of luxury and enjoytnent. Many a merchant has n1ac.lc a large fortune although, during the acquisition of this fortune, there 'vas perhaps hardly a single year in which he did not rather increase than din1inish ,his ex~ enditure in objects of luxury, enjoyn1ent, and liberality. The atnount of capital in this country is in1mense, and it certainly received very great additions during the last twenty-five years ; hut on looking back, few traces arc to be found of a diJniuished expenditure in the tnaintenance of EE 3 |
