Principles of Political Economy: With Some of Their Applications to Social Philosophy, Volume 2Appleton, 1899 - Economics |
Contents
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Common terms and phrases
17 yards Adam Smith advantage agricultural amount assignats bank notes Bank of England bankers benefit bills borrowers bullion capitalists cause cheaper cheapness circulation circumstances coin consequence consumers corn cost of carriage cost of production currency dealers debt depend depreciated currency depreciation diminished effect employed equal equation of international equivalent exactly exchange value existing expense exports fall foreign commodities foreign countries France Germany gold and silver imports improvement income increase industry international demand international values issue issuers labor and capital land law of value less loans lower means ment million mode modities necessary obtain paid payment permanent persons Poland population portion pounds sterling precious metals produce proportion raise rate of interest rate of profit ratio rent rise of prices seigniorage sell speculation sumers supposed supposition things tion trade transactions value of money wages whole yards of cloth yards of linen
Popular passages
Page 100 - It is commerce which is rapidly rendering war obsolete, by strengthening and multiplying the personal interests which are in natural opposition to it. And it may be said without exaggeration that the great extent and rapid increase of international trade, in being the principal guarantee of the peace of the world, is the great permanent security for the uninterrupted progress of the ideas, the institutions, and the character of the human race.
Page 423 - The only case in which, on mere principles of 'political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country. The superiority of one country over another in a branch of production, often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present...
Page 307 - Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
Page 451 - Laisser-faire, in short, should be the general practice: every departure from it, unless required by some great good, is a certain evil.
Page 444 - ... there is a part of the life of every person who has come to years of discretion within which the individuality of that person ought to reign uncontrolled either by any other individual or by the public collectively.
Page 307 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 423 - A protecting duty, continued for a reasonable time, will sometimes be the least inconvenient mode in which the nation can tax itself for the support of such an experiment.
Page 308 - Thirdly, by the forfeitures and other penalties which those unfortunate individuals incur who attempt unsuccessfully to evade the tax, it may frequently ruin them, and thereby put an end to the benefit which the community might have received from the employment of their capitals.
Page 264 - A population may be too crowded, though * Book ii. chap. ii. 5 -j. all be amply supplied with food and raiment. It is not good for man to be kept perforce at all times in the presence of his species. A world from which solitude is extirpated, is a very poor ideal.
Page 239 - The increase of stock, which raises wages-, tends to lower profit. When the stocks of many rich merchants are turned into the same trade, their mutual competition naturally tends to lower its profit; and when there is a like increase of stock in all the different trades carried on in the same society, the same competition must produce the same effect in them all.