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acre Adam Smith advantage aggregate agricultural American amount annual average Bank of England banks bills bills of exchange Britain bullion bushels capital cause cent Circulating Capital circulation circumstances civilized coin commercial commodities consequence consumed consumption cost cultivation currency debt demand depreciation diminished distribution dollars effect employment England English equal estates evil exchange exports extent fact flour foreign former gold grain greater hand increase individual industry inhabitants institutions Ireland issue J. S. Mill labor land less limited loans Malthusians manufactures Massachusetts means ment merchant millions natural nearly necessary obtain operations payment persons Political Economy population portion pound sterling precious metals principle produce proportion purchase quantity raise rate of profit rent rise savings says seigniorage sell silver society soil specie supply theory tion trade value of money wages wealth whole
Page 476 - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself...
Page 126 - The laws and conditions of the production of wealth, partake of the character of physical truths. There is nothing optional, or arbitrary in them. Whatever mankind produce, must be produced in the modes, and under the conditions, imposed by the constitution of external things, and by the inherent properties of their own bodily and mental structure.
Page 60 - One of those boys, who loved to play with his companions, observed that, by tying a string from the handle of the valve which opened this communication, to another part of the machine, the valve would open and shut without his assistance, and leave him at liberty to divert himself with his playfellows.
Page 476 - It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy.
Page 476 - What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our oWn industry, employed in a way in which we have some advantage.
Page 91 - Thirdly, and lastly, commerce and manufactures gradually introduced order and good government, and with them the liberty and security of individuals, among the inhabitants of the country, who had before lived almost in a continual state of war with their neighbours, and of servile dependency upon their superiors.
Page 499 - They came to a new country. There were as yet no lands yielding rent, and no tenants rendering service. The whole soil was unreclaimed from barbarism. They were themselves, either from their original condition, or from the necessity of their common interest, nearly on a general level in respect to property.
Page 229 - The property which every man has in his own labor, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Page 499 - In my judgment, therefore, a republican form of government rests not more on political constitutions than on those laws which regulate the descent and transmission of property. Governments like ours could not have been maintained, where property was holden according to the principles of the feudal system; nor, on the other hand, could the feudal constitution possibly exist with us. Our New England ancestors brought hither no great capitals from Europe ; and if they had, there was nothing productive...