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Show 518 0 N 'F 11 E ll\1 1\1 ED I A '1' E C AU S E S [ GH. V ll. that great principle of political econon1y laid down by Ada1n Sn1itb, \Vhich teachc us a general n1a./im, liable to very fe\v exceptions, that the \Vealth of uations is best secured by allovving every person; as long as he adheres to the rules of justice, to pursue his O\Vn interest in his ow'n \Vay. Still it n1ust be allo\ved that this very doctrine, and ~he n1ain doctrines of the foregoing \Vork, all tend to she\V, as \Vas stated in the Introduction, that . 'the cience of polidcal econotny bears a nearer resemblance to the sciences of n1orals and politics, than to the science of n1athematics. But this truth thouo·h ' b it detracts from its certainty, does not detract from its irnportance. While the science of politicClJl econon1y involves some of the questions \vhich have the nearest connection with the well-being of society, it n1ust always be a subj ct of the highest interest. 1.,he study of it is calculated tCi> be of great practical use, and to prevent n1ucl~ positive evil. And if its principles be carefully founded on an experience suf-ficiently extended, \VC have good reason to believe, frotn what they have already done, that, \\.rhen properly applied, they will rarely disappoint our just expectations. 1.,here is another objection ,~hich will probably be n1ade to the doctrines of the latter part of this work, which I am more anxious to guard against. If the principles V\rhich I have laid down be true, it will certainly follow that the sudden removal of taxes will often be attended with very different effects, particularly to the labourino~ classes of so .. . b c1ety, fron1 those which have been generally ex~ S.C: C. X.] OF THE J>HOGH.ESS OF \VEALTII. 519 pectecl. .A.nd an inference tnay perhaps be dnl\vn fro1n t;his conclusion in favour of taxation. But the just i1~fcrence fi·on1 it is, that taxes should never be ,i1nposed, nor to a oTeater an1ount than . b ' the necessity of the case justifies, and particularly that every effort should be 1nacle, consistently \Vith national honour and security, to prevent a scale of exp<lnditure so great that it cannot proceed \vithout ruin, and cannot be stopped without distress. Even if it be allowed that the excite1nent of a prodigious public expenditure, and of the taxation necessary to support it, operating upon extraordinary povvers of production, n1ight, under peculiar circun1stances, increase the \Vealth of a country in a greater degree than it other\vise vvould have increased; yet, as the greatest povvers of production must finally be overcotne by excessive bor- . rowing, and as increased misery among the labouring classes tnust be the consequence, whether 've go on or atten1pt to return, it \vould surely have been n1uch better for · the society if such wealth had never existed. It is like the unnatural I strength occasioned by son1e violent stln1ulant, which, if ~1ot absolutely necessary, should be hy all means avoided, on account of the exhaustion 'vhich is sui·e to follow it. In the Essay on Population I have observed, that " In the 'vhole compass of htnnan events, I doubt if there be a more fruitful source of n1isery, or one mor~ invariably productive of disastrous consequences, than a sudden start of population· from t~ro or three years of plenty, 'vhich n1ust LL4 |
