of condition take place without increase in the power of production. They are as necessary to each other as evaporation and condensation.
The happiness of society is dependent upon its moral, physical, and political condition, yet it is denied that the political economist should concern himself with the happiness of nations with human welfare*-the subject to be treated of being wealth solely. By another writer it is asserted,† that "the science
wealth may just as frequently lead to what will injure, as to what will benefit the human race." It is therefore believed that the laws of political economy afford rules that cannot be used as "the sole, or even the principal guides in the conduct of affairs." Our object, on the contrary, has been to show that those laws are exceedingly simple: that a compliance with them can never lead to the adoption of any measure that would not be dictated by an enlightened self-interest, while their study must tend to diminish selfishness, by showing that our interests are so interwoven with those of our fellow men, that injury to them is necessarily accompanied by injury to ourselves that they are universally true and universally applicable, and that their universal adoption would be attended by a rapid improvement of physical, moral, intellectual, and political condition, increasing the happiness and prosperity of nations, giving them a constantly increasing facility for the further accumulation of wealth, and further improvement of condition. We leave the reader now to judge between the two definitions, and to determine for himself whether or not the happiness and welfare of nations come within the sphere of the political economist.
*Senior. Outline of Political Economy, p. 129.
+ Scrope, quoted ante, p. 205.
Senior. Outline of Political Economy, p. 130.
Absence of capital in India, ii. 127. France, ii. 130.
Absenteeism of Ireland, ii. 429. Acts of incorporation, not privileges but merely releases from existing restric- tions upon the right of association for trading and other purposes, ii. 250. Advantages of situation, what consti- tute, i. 159. Agricultural implements of France, in- feriority of, ii. 130.
wages, India, ii. 129. France, ii. 135. England, ii. 139. United States, ii. 142.
Agriculture of India, ii. 126.
France, ii. 130. Backward state of, ii. 136.
England, ii. 137.
United States, ii. 140.
France, Poland, Russia, and Ger- many, Mr. Jacob's remarks upon, i. 13, note.
Ambelakaia, rapid growth of, ii. 454. America, influence of the discovery of,
upon the condition of the people of Spain, iii. 136.
Association, natural to man, ii. 13. for effecting insurance, prohibited in England, ii. 249.
for creating transferrable stocks, prohibited, ii. 249. Athens, influence of wealth on the poli- tical condition of, iii. 111.
not a democracy, iii. 116. Australia, imports and exports of, ii. 171.
-, western, condition of the settlers in, i. 68. Value of property in, i. 112. Austria, population of, iii. 48.
Bank of England, losses of, ii. 241. De- posites in, ii. 252.
France, discounts of, ii. 236. Ope- rations of, ii. 256.
United States, operations of, ii. 243. Amount of losses, ibid.
Cape of Good Hope, British settlers at,
i. 49. Capital, advantages of, i. 284.
definition of, i. 294. Mr. Senior's definition of, i. 300. M. Say's defi. nition, i. 305.
diminishes in its labour value, as labour becomes more productive, i. 16.
price of tends to fall, i. 151. Chalmers on Population, review of, iii. 80. Chastity, France, the Netherlands, Eng-
land, and the United States, iii. 41. China, general security in, ii. 449. Res- trictions upon the employment of la- bour and capital in, ii. 450. Church reservations, Canada, i. 111. Coal trade of Great Britain, ii. 74. Cod-fishery of France, England, and Uni- ted States, ii. 163.
Colleges in United States, ii. 198. Colonial system of France, ii. 89. Colonies, effect of the possession of, ii. 73.
Colonization of Algiers by France, ii. 90. Commodities, labour price of tends to fall, i. 152.
Combination of action, tends to increase or to diminish with the increase or diminution of wealth, iii. 97. Combinations, England and United States, ii. 31. France, ii. 45. Comparative consumption of cotton, France, England, and United States, ii. 156.
cost of public works, France and United States, ii. 179.
extent of canals and rail-roads, France and England, ii. 176.
production of India, France, Eng- land, and United States, ii. 280.
salaries of United States and France, ii. 395.
view of provision for religious in- struction in England and the United States, ii. 205.
wages of manufacturing labour England and United States, ii. 148. Comparison of cost and value of existing landed capital, i. 102.
Conscripts of France, diminutive stature of, ii. 210.
Conservative tendency of the institutions of the United States and Switzerland, iii. 218.
Consumption of foreign merchandise, Great Britain and the United States, ii. 170.
France, ii. 169. India, ii. 165. Corn, labour price of, low in England and the United States, and high in Poland and other countries, i. 179.
banks of Norway, ii. 250. Corvée and conscription of France, com- parative effects of, ii. 45. Cotton, consumption of, France, ii. 145. in France, England, and the Uni- ted States, ii. 156.
in Massachusetts, ii. 145.
prices of in England, at various periods, i. 64.
Credit, gradual increase of, with the growth of population and of capital, ii. 230.
in India, ii. 236.
in France, ibid.
in England, ii. 239.
in United States, ii. 241.
Crimes against the person, England, ií. 25. United States, ii. 27. France, ii.
property, England, ii. 57. United States, ii. 58. France, ii. 79. Critical dissertation on value, reviewed, i. 269.
Cultivation, extension of, how it influ ences the wages of labour, i. 49-and the profits of capital, i. 73.
-in England, backward state of, ii. 138, note. Currency, free-trade tends to establish a secure and economical, ii. 256.
of France, England, and the Uni- ted States, comparative view of, ii. 259.
Deaths in France, iii. 13. The Nether- lands, iii. 14. England, iii. 16. The United States, iii. 19. Decoits of India, ii. 52. Democracy, what constitutes, iii. 117.
in America, review of, iii. 231. Denmark, influence of wealth on the po-
litical condition of, iii. 160.
Depots de Mendicité, France, ii. 208. Diminution in the landlord's proportion of the product of labour, with every increase in the quantity produced, i. 37. An evidence of increased produc- tive power, i. 75, 87. Influence of, upon the political condition of man, iii. 102.
Direct taxes of India, ii. 95. Distribution of private revenue, India, ii. 399. France, ibid. England, ii. 401. The United States, ii. 403.
of public revenue, India, ii. 384. France, ii. 386. England, ii. 390. The United States, ii. 393.
of the products of labour, i. 19. How affected by improvement or deterioration of the machinery of pro- duction, i. 25.
between the capitalist and the la bourer, India, ii. 286. France, ii. 293. England, ii. 297. United States, ii. 308.
between the government, capital- ist and labourer, India, ii. 348. France, ii. 355. England, ii. 365. United States, ii. 378.
in France, before the revolution, iii. 153.
Elementary proposition, i. 1. Emigration, tends to increase with in- crease of capital, iii. 9.
its effect upon the growth of po- pulation, iii. 10.
from England, iii. 16.
France, Netherlands, England, and the United States, compared, iii. 43.
from Germany, how discouraged, iii. 64, note.
England, wages of, from 1495 to 1832, i. 56. Compulsory labour in, i. 61. Executions in, under Henry VIII., i. 62. Low rate of profit in, i. 91, note. Removal of restrictions would increase production and increase the rate of profit, i. 262. No reduction of wages in, since the war, i. 255. Security of person in, ii. 22. Crimes against the person in, ii. 25. Freedom of action in, ii. 34. Freedom of thought in, ii. 36. Freedom of opinion, H. 38. Com- binations in, ii. 31. Security of pro- perty in, ii. 57. Excise laws in, ii. 65. Restrictions. upon exchanges in, ii. 65. Colonies of, ii. 73. Excise du ties in, ii. 76. Police of, ii. 108. State of agriculture in, ii. 137. Opposition to improvement of agricultural ma- chinery, ii. 138. Interference of tithe with the extension of tillage in, ii. 139. Wages of agricultural labour in, ii. 139. Power-looms in, ii. 148. Condi- tion of hand-loom weavers in, ii. 148.
Number of persons employed in cotton manufacture in, ii. 151. Woollen manufacture in, ii. 156. Iron manu- facture in, ii. 158. Navigation of, ii. 160. Cod-fishery of, ii. 163. Whaling trade of, ii. 164. Roads and canals in, ii. 176. Facilities of correspondence in, ii. 180. Education in, ii. 191. Habit of industry in, ii. 218. Poor taxes of, ii. 219. Effect of poor-laws in, ii. 221. Bastardy in, ii. 223. Pro- vision for religious instruction in, ii. 201. Church rates of, ibid. Defi- ciency of churches in, ibid. Credit in, ii. 239. Savings' banks and friendly societies in, ibid. Bankruptcies in, ii. 240. Losses of the joint-stock banks of, ibid. Private banks of, ibid. Losses of bank of England, ii. 241. Associations for insurance, and for the formation of companies with transferable stock, prohibited, ii. 249. Large profits of joint-stock banks, ii. 252. Deposites in bank of, ibid. Currency of, ii. 259. Condition of hand-loom weavers of, ii. 276. Supc- riority of labourers to those of the con. tinent, ii. 275. Relics of serfdom in, ii. 277. Production of, ii. 280. Dis- tribution of population, ii. 297. In- come of population, ii. 305. Rental of, ii. 306. Revenue system of, ii. 364. Taxes on capital in, ii. 367. Tithes in, ii. 370. Taxes on commodities, ii. 369. Distribution of public revenue of, ii. 390. Distribution of private re- venue of, ii. 401. Distribution of the product of labour between capitalist and labourer, ii. 297. Distribution between government, capitalist, and la- bourer, ii. 365. Movement of the po pulation, iii. 14. Deaths in, iii. 16. Births in, ibid. Marriages in, ibid, Emigration from, iii. 19. Duration of life in, iii. 20, 25. Rate of in- surance upon lives in, iii. 32. Ratio of marriages to population, iii. 36. Fecundity of marriages, iii. 40. Bas- tardy in, iii. 41. Chastity in, ibid. Emigration from, iii. 43. Efficiency of labour of, iii. 45. Influence of wealth on the political condition of, iii. 172. Excise laws of England, effect of, ii. 65.
F. Facilities of correspondence, India, France, England, the United States, ii. 180.
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