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Show 592 SU).ll\fARY. PAG~ and supply, we shull generally be directed into the right course . 515 The market of national capital will be supplied without the aid of patriotism, and the whole question of saving may safely be left to the uninfluenced operation of individual interests and feelings . 517 Though the science of Political E conorny must, from its nature, resemble n1ore the science of moral or of politics than that of n1athem atic ~ , yet if it principles be founded on a sufficiently extended experience, they will rarely in their application disappoint our ju t expectations Another objection may be made, that the doctrines of the latter part of this work are favourable to taxation ; but this 518 would not be a just inference . ib. Even if we allow that taxes ancl expenditure may, under some .circumstances, increase ·wealth, yet if such wealth is only temporary, and when its progress stops is attended with distress, it would have been better that it had not existed 519 .It is the duty of governments to avoid war if possible; but if it be unavoidable, so to regulate the expenditure as to produce the least fluctuation of demand Other classes are often relieved by the taking off of taxes ; but nothing can compen ate to the labouring classes the ib. want .of ~demand for labour . . 5 21 To state these facts is not to favour taxes, but to bring forward additional reasons against imposing then1 without a strpng necessity ib. The labouring classes suffer more from low wages in adver-sity than they are benefited by high wages in prosperity. To then1 fluctuations are most unfavourable. The interests of the great mass of society require peace and equable ex.:. penditure • . • · . . . . • . . . . . . . . . 522 ( .s~s ) \ INDEX. A. Ac t u ~rur.~:IoN of capital, influence ~f, ,m rmsmg rc11ts, 161-acc\lmulatwn, or the saving from revenue to add to capital, considered as a stimulus to the increase of wealth 351- 375. ' A~ricul ture, influence of improvements In, on. raising rents, 165,' 166-and of an Increase in the price of agricultural pr?d uce, .Hi6-178-improvements In agnculture, a practical source of the increase of rents, 207, ~08-why such improvements are chiefly effected by the tenants, 219, 220-probab]e effects of disusing horses in agriculture, 263-observations on spade-cultivation, ib. note. t~e. ?istribution occasioned by tl1e diVISion of landetl property, considered as a means of increasing the exchangeable value of the whole produce, 4.27 -440-state of agriculture during the middle ages, 429. America, the United States of, almost ~he only com:try where rents may be mcreased w1thout agricultural improvements, 210, 211-their rapid mcrease accounted for, 428-causes of the distresses itt those states since 1815, 498-500. B. tiu1 atcd in bullion, and in tuc com. maud of this bullion over foreign and domestic labour, ab oluteiy ucces~ ary. to extricate the country from 1ts distresses, 505. 508-M~O. c. Capital, absolute necessity of, to farm .. ers, ~00, ~01-ferti!ity of land the only source ~f permanently high returns for cap1taJ, 234-strikiurr ilJustration of the effects of capitals em~ ployed on land compared with others, ib. 235- the use of fixed capital, in general favourable to the ubundance of circulatiug capital, 2 6~, 263-the profits of capital, what, 293 BaRk paper, the value given to it, by Jimiting i ts qnantity, shews that the cost of producing gold only infiuences. its price as it influences its supply, 77. British Empire, prosperous state of, 435-its causes, iu. 436, 4.37. Buchanan (Mr.), erroneous views of, on the nature of rent, 137-1:39. 149. Bullion :- an increase in the exchange· able value of the whole produce, esQ Q -ho~ th~y are aife.:ted by the incrcasmg difficulty of procuring the means of subsistence, 294-301- also by the proportion which capital bears to labour, 301-313-and by causes practically in operation, 313 -320-probable effect of an abolition of public debt upon capitalists, 487, 488-deficicntcupital the cause of the distre1:lses of the labouring classes, since 1815, 444-446-this cau:,e further considered and cluci· dated, 490. et seq.-injudicious po· licy of recommending the conversion of more revenue into capital, wl1en profits arc low and uncertain ; and when, in cousequeuce of capitalists not knowing where they can safdy employ their capitals, capital is flowing out of the country, 495, 496. Cattle pay rent, and in pt·oportion to their qualities neal'ly an cquaf rent, 99- their price is iudi rcctly regulated by the cost of producing corn,. 100. China, high rate of interest in, 15Bcm~. e of it, 159. |