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.}}