JB_017_153.xml

Title: [nd [wm 1800] 1 {Institute of]

Description: nd [wm 1800]

1

{Institute of Political Economy - Method {& Leading Features.}

Ch. 1. Method

Method {and Leading Features} of an Institute of Political Economy(a) (including

Finance) considered not only as a science, but as an Art.(b)

Ch. I. Method

' 1. The Science - Precognita and Precognoscenda.

I. Objects or Ends in view.

1. Maximum of National Wealth - 2. Maximum of Population.

II Uses of the matter of Wealth(c) - I. Provision for Subsistence - present

Subsistence - and Security in respect of future.

II. Provision for Security in respect of Defence - viz against - 1. external

adversaries - 2 - internal adversaries 3 calamities, to which, without human

design, the community is exposed.

III. Provision for Enjoyment:- viz mere enjoyment; as far as distinguishable from

that share, which is the natural, and more or less inseparable, accompaniment of

Subsistence and Security.

1. Provision for Defence against external adversaries is by administration of

military force. 2. Provision for defence against internal adversaries is by

administration of the power of Justice. 3. Provision for defence against

calamities and minor physical inconveniences is by Administration of the power

of the corresponding branch of the Police. Application of the matter of wealth

to these cases belongs - not to Political Economy, but to other branches of

political art and science:- Art and Science of War - Art and Science of

Legislation.

The Modifications of the matter of wealth are correspondent to the above Uses.

1. Articles of Subsistence. 2. Instruments of Security, in respect of Defence.

3. Instruments of Enjoyment. But, Enjoyment being inseparable from the

application of the articles of Subsistence to their respective uses, an article

of Subsistence is also an article of Enjoyment.

Encrease of Population is desirable as being an encrease of 1. the Beings

susceptible of Enjoyment - 2. the Beings capable of being employed as

Instruments of Defence. It results of course from the encrease of the means of

Subsistence; and cannot be carried beyond them.

Note

(a) The Outline of a projected work, drawn in the way of anticipation, differs

greatly from the Outline of a finished work, drawn after completion. The

following is something between both.

(b) By Adam Smith, being considered directly as a Science, it is considered

incidentally only as an Art. - Yet of what use is the science, but with

reference to the art?

Note (c)

(c) From the faculty of being exchanged for one another, the several

modifications of the matter of wealth derive a common nature, & in virtue of

that nature are susceptible of this common name. Say matter of wealth, not

wealth simply: for wealth excludes small portions, such as fall to the share of

poverty.}

JB_017_224.xml

Title: [30 Aug. 1801 Polit. Economy]

Description: 30 Aug. 1801

Polit. Economy

A1 V

Method

I. Sponte Acta

4

{ Iron is the best material for knives and hatchets, thoug in Otaheite and elsewhere stone is employ'd for that purpose. A person whom I knew cut his finger once (as he told me) with a piece of Suffolk cheese.

On ship board at the time of an engagement, hammocks articles of subsistence (or rather of customary luxury not indispensably necessary to subsistence for a Russian lies sleeps upon a bunk or upon the floor) articles of of subsistence of a [...?] /middle/ nature between cloathing and lodging, are frequently applied to the purpose of defence - being stowed in such manner as to deaden the stroke of the shot.

Enjoyment being in a manner inseparable from the application of articles of subsistence to their use, all articles of subsistence are instruments of enjoyment likewise. The distinction therefore is not between articles of subsistence and instruments of enjoyment but between articles of subsistence and instruments of mere enjoyment: viz: that by their application to use contribute nothing to subsistence any more than to defence. Instances of instruments of mere enjoyment are abundant: tobacco (the great luxury of the great body of the people) - tobacco and perfumes may be sufficient for illustration.}

JB_017_240.xml

Title: [22 Aug. 1801 Political Economy]

Description: 22 Aug. 1801

Political Economy

{A}E

Method D.

Finance

1

25

{17}

VIII Finance an appendix and inseparable accompaniment to Political Economy.

Taxes sacrifices made of {enjoyment} /wealth/ and opulence at the expence of

enjoyment, to security in respect of defence, and security in respect of

subsistence.

The end is pursued in a direct and primary way, by operating towards the maximum

of positive encrease: in an indirect and secondary, but not less efficient way,

by operating towards the minimum of decrease.

Taxes and other means of supply for the expenses of government - Wars with their

taxes and their devastations are means by which, of necessity, in a certain

degree, too often beyond the extent of the necessity - decrease in the amount of

wealth and population, is produced. In this way the field of Political Economy

includes within it the field of Finance.

A tax, in as far as the thing taxed is abstained from, operates as a

prohibition: as a discouragement to that branch of trade or production to which

the thing belongs, and as an encouragement to rural branches, that is more or

less to all other branches. Thence another head of connection between Finance

and Political Economy in its narrower sense. The same illusion which has

recommended the encouragement of particular branches of wealth as a means of

encrease to the whole, has led to the exaggeration of the bad