JB_017_311.xml

Title: [10 March 1804 Polit. Economy {Evidence]

Description: 10 March 1804

Polit. Economy {Evidence}

Note continued

I Wealth III Non Agenda

Method Addenda?

2

{On this supposition it is, that the expence is divided between the aggregate of

those private purses and the public purse. {If} /Suppose/ the profit to the

local proprietors adequate, and suppose a fund adequate to the whole expence

obtainable from that same source, the propriety of a contribution out of the

public purse falls to the ground.}

{ Wealth Non Agenda - Narrow Measures - Note

No 1

Divide, say, into 12 bounties, the aggregate mass of profit-seeking industry.

Each calls, or at least each has an individual right to call, upon government

for encouragement: - {out} /at the expence/ of the public purse; that is {at the

expence} of all the rest. Gratify all alike there is, as /so/ between them at

least, no injustice on the one hand, no profit on the other. Gratify any number

short of the whole, injustice is certain, profit questionable.

No 2

Note e

To what institutions at the public charge are objections most apt to be made? To

these, of which the expence is minute, the profit infinite. To what, least apt?

to those of which the expence is great, the profit to the public precarious or

even negative: - In these instances in which, reason is never present, pretence

is never wanting. In infancy, in maturity, in decline - flourishing or

languishing - profitable or unprofitable - claims to encouragement are urged

with equal confidence.

Why this inconsistency? Because in the one case, the profit is remote and shared

by countless multitudes: in the other immoderate, and shared among a few.

{Driving /Thrusting/ capital thus from pillar to post, men in great place give

themselves for great men. Whatsoever they have drawn or driven to a spot at

which it attracts notice drawn by direct encouragements driven by

discouragements applied to rival branches - they take credit for as if created,

and created by their hands.} {By additions to the quantity of capital employed

in all branches not being encreased - nation can no more add wealth to its

stock, than a man can add a cubit to his stature.}}

JB_017_157.xml

Title: [nd [wm 1800] Ch. 2. Leading Features]

Description: nd [wm 1800]

Ch. 2. Leading Features.

'.2. Wealth. 2. Non Agenda

5

3

to be borne by the Mother Country. The Capital employed in the cultivation of the

Colonies by the Mother Country is so much sent out of it without adequate

return. Bryan Edwards, even in magnifying the utility of Colonies, makes the

rate of profit upon capital so employed but 7 per cent: the common calculation

gives, for the profit on capital employed within the Mother Country, 15 per

cent. Whatever capital is bestowed upon this employment, is so much taken from

other more lucrative ones.(d)

II. Narrow or Particular Measures: applying to particular sources of wealth.

1. Wealth being the produce of Capital, (which is no more than labour, employed

through the intervention of money (pecuniary capital) or otherwise) and capital

being limited (for labour at least is limited) whatever is given to any one such

branch, is so much taken from the rest.(e)

2. If the encouragement be by donation of Capital - (of money to be employed in

the shape of capital) - it belongs to the first head of Non Agenda, Forced

Frugality.

3 An encouragement which is indefensible with reference to encrease of general

wealth, may be eligible with reference to Subsistence (instance expence of

Magazines for Corn):- or to National Defence:- (Instance - Measures for keeping

up an extra-supply of Ships and Mariners.)

(d) Notes. p.4.

(e) Notes p.4. }

JB_017_328.xml

Title: [16 March 1804 Polit. Economy]

Description: 16 March 1804

Polit. Economy

Ch.2. Leading Features

'. 2.6 Wealth. 2. Non Agenda

4

2

{ 3. Measures which present themselves in the character of Non Agenda, may be

distinguished into Broad Measures, and Narrow Measures: broad measures, having

for their object or their effect the augmentation of wealth in all its shapes,

without distinction, by the encrease of profit-seeking industry in all its

branches without destruction: narrow measures, which have for their object the

augmentation of wealth, by the encrease of profit-seeking industry in this or

that particular branch, in preference to others, under the notion of its

producing more wealth in that than in others.

4. Examples of Broad Measures -

1. Forced Frugality: - Natural Opulence promoted or endeavoured to be promoted

at the expence of justice. National wealth, without regard to the particular

shape, encreased or endeavoured to be encreased, by the application of money in

the shape of capital, that money raised (as of course it must be) by taxes: -

taxes imposed on property or expenditure, as the case may be. Necessity, viz:

for the application, of the wealth thus produced, to the purpose either of

subsistence or defence, is here out of the question: for necessity, in either of

those its branches, constitutes a distinct grounds mentioned further on.+ -

Injustice the first - forcing a man to labour, though it were for his own

benefit, where he wishes to enjoy. Injustice the second - forcing one man to

labour for the sake of encreasing the enjoyments of another man, or rather, of

encreasing the stock of the instruments of enjoyment in his hands: for all that

government can do in behalf of enjoyment, otherwise than by security, is - to

encrease the quantity of the matter /mass[?] of instruments/ of enjoyment:

application of these instruments in such manner as to produce actual enjoyment,

depends altogether upon the individual, and is an effect altogether out of the

reach of government.(a)

[+] See Agenda.

(a) Note p.1.

Take a fresh Price[?] for the next.