date

1822 Nov. 15. Tripoli. Securities against
1822 Nov. 15. Tripoli. Securities against Misrule Preliminary Explanations Ch

Bashaws Inducement ?.2. Extra-regarding

1. First then all encrease of wealth is altogether dependent on sense of

security /the general perception and anticipation/. No considerable encrease of

wealth can take place but by means of a proportionate encrease of capital. But

no considerable encrease of capital employed in giving encrease to the quantity

of growing wealth can take place without a proportionate /correspondent/

encrease in the sense of security. Capital is money or moneys worth laid out in

large masses in the hope of reimbursement with an encrease at the end of a

length of time more or less considerable: say six, eight or ten years: or even

without hope of reimbursement, on the condition that the returns each year

though perhaps not more than a twentieth /twentyeth/ or five and twentieth or a

thirtyeth of the capital advanced shall be perpetual and transferable.

Whatsoever money or moneys worth a man has in store over and above what serves

him for the current consumption of the year, if he can not obtain this security

for any return that might otherwise be expected from the employment of, he will

either hoard up, as a stock to serve him in case of casual demand on the score

of distress by loss or otherwise, or if he employs it, he will employ it

somewhere else /in some other country/ employ it that is to say either in giving

encrease to the quantity of national wealth in some other country, or what comes

to the same thing, in an indirect way, namely by occupying the place of an equal

quantity which is thereby enabled and caused to be employed in encreasing

/giving encrease to/ the quantity of national wealth in that same country, as

above.
Similar Items
  • Title: [1822 Nov 15 Tripoli:- Security against Misrule]
    Description: 1822 Nov 15 Tripoli:- Security against Misrule Preliminary Explanations Ch

    Bashaw's Inducement ?.2. Extra-regarding

    But by any such sense of insecurity not only will capital be prevented from

    being so employed as to prevent giving encrease to the stock of national wealth

    in the country in question, but it will be prevented from coming into existence:

    the adequate motive - the inducement for giving existence to it being wanting.

    By the sight of the external instruments of enjoyment /felicity/ in all their

    several shapes every man /human being/ is in a state of constant temptation,

    solicited by them[?] as he is to make acquisition of them and in the way of

    consumption, employ them according to their several qualities and destinations.

    All without exception stand exposed to this temptation /are perpetually operated

    upon/ for indeed - not one in a thousand are in a way to conceive the idea of

    employing capital in the purchase of foreign securities; not many have the

    self-denial to sacrifice in any such way to any considerable extent the present

    to the contingent future: a future which even a state /country/ of the greatest

    security is seldom estimated so high as it is worth: and which in a country such

    as that in question is worth so little in comparison of what it is worth in

    countries where subjects enjoy a very considerable and effectual security

    against all irregular and unforeseeable exactions from /by/ the hand of

    government, however it may be as to regular and foreseeable ones. This

    temptation has in every state of things two branches: one is that which is

    presented /constituted/ by the love /desire/ of enjoyment in the several shapes

    in which it is afforded by the several instruments of enjoyment according to

    their several natures; the other is that which is constituted by the aversion to

    labour or say by the love of ease.
  • Title: [1822 Nov. 15 Tripoli. - Securities against]
    Description: 1822 Nov. 15 Tripoli. - Securities against Misrule, Preliminary Explanations

    Ch Bashaws Inducements ?.2. Extra-regarding

    This impossibility of any considerable encrease of wealth to the nation and

    thence to the Sovereign without a correspondent encrease in the article of

    security - security against misrule - in consequence of /the fruit of/ the

    arbitrary power in the /his/ hands of the Sovereign will appear the more

    plainly, in proportion as the several sources from whence the matter of wealth

    is capable of being extracted are the more particularly considered /brought to

    view/

    Capital may be employed in giving encrease to the quantity of growing wealth in

    either of two ways /situations/: namely 1. in the hands of individuals acting

    singly: each employing his capital on his own single account, and receiving to

    his own single use the whole of the return accordingly: 2. in the hands of

    individuals acting in associations more or less extensive the capital being

    formed /collected/ from a number of hands more or less considerable and

    according to the magnitude of the concern employed either by the same hands by

    which it is supplied, or by a lesser number of hands chosen and appointed by the

    united suffrages of those by whom and for whom it is employed.

    With the first of these two states of things let us commence the enquiry

    /survey/ as being the more simple - this understood, the other will be

    understood from it of course.
  • Title: [1822 Oct. 24 Tripoli Pursuasive]
    Description: 1822 Oct. 24

    Tripoli

    Pursuasive to Pasha

    4. In such a state of things, individual foreigners would by degrees be found who would venture to embark their capitals in enterprizes of such descriptions as the above

    5. Loans might even be obtained by Government for the establishment of any such such public works, as might be too great for the purses of individuals. This advantage will receive considerable facility from the extraordinary accumulation of capital that has taken place of late years in the European nations, and the diminution in the rate of annual profit in return for the use of it.

    6. The Pasha's revenue consists in the whole or in great part in a tax on the produce of the soil. Such produce can never receive any considerable encrease, but from a proportionate encrease in the quantity of labour and money laid out upon it in the shape of capital: and the quantity of capital can never receive any considerable encrease but from a correspondent encrease in the degree of general security: and the degree of general security can never receive any considerable encrease but from a correspondent change in the constitution. Where in respect of person and property every man's lot depends upon the momentarily changeable and never assuredly knowable /cognoscible/ will of a single individual no human being in the country can with reason regard himself as safe, and least of all the Sovereign. By keeping every human being in the country in a state of perpetual insecurity, danger and alarm, he converts every man into a natural enemy and keeps himself in the character of an enemy to them exposed to hostile retribution at their hands.