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Polit. Econ. Analysis
20 June 1801
[Col 1]
According to these topics the same articles be ranged in different orders.
I. Subject matter of operation.
Original—Land
1. Uncovered with water.
2. Covered with water.(All Sea, [...?], Rivers and Lakes.
II. Operator or Agent
Principal/Orignal—Man—by Labour
2. Subordinate
1. Animate—Cattle
2. Inanimate—Machines
Topics
Ends in view or Uses to which encrease of wealth is subservient.
1 Subsistence
2. Enjoyment
3. Security or defence.
*II. Subject Matters
I. Natural state
1. Mineral
2. Vegetable
3. Animal
II. Improved state
1. Unmixt, as above.
2. Compunded or mixt without alteration.
3. Modified by fabrication.
______________________
III. Principal Operations
1. Discovery
2. Extraction[?]
3. Production or Naturalization[?]
4. Improvement
5. Preservation
6. Employment or Use
7. Land conveyance
8. Exchange
IIII. Agents
1. Individuals
2. Government
V. Means of action or influence on the part of Government
1. Encouragement
2. Discouragement
1. Unoptional—prohibition
2. Optional—Taxation To Col V
[Col 5]
Topics continued from Col I
VI. Taxation
an operation not formative/conducive to but obstructive of encrease of wealth, yet every where employ’d through necessity for the purpose of defence.
Will/inclination[?]/ to the encrease of wealth can not be wanting on the part of any individual: tho’ in some instances it is overpowered by the will to spend it, yet in the most unfrugal community the spendthrifts are in but small proportion.
But in the struggle for encreasing wealth each to his utmost it will happen that one man shall give encrease to his wealth in such manner as shall occasion a more than equivalent decrease on the part of others:—here then comes the demand for the interposition of the law.
[Col. 2]
Quantity of wealth is absolute or relative—Relative involves population, of which separately.
Wealth is the produce of /labour and/ land and labour—of labour operating upon land itself or the produce of it.
Note.
Encreasing the quantity of land will not encrease the quantity of wealth, unless it encreases either the quantity of labour or the effect of it.
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Every means employed for the encrease of wealth may therefore be resolved into encrease of 1. the quantity of labour. 2. the effect of it.
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Wealth itself is of no value but as an instrument of either 1. Subsistence. 2. Security or defence. 3. Enjoyment. The value of a given mass of wealth to be measured must be measured with reference to these several objects.
[Col. 3]
Subsistence affords an exact measure of the value of a mass of wealth—With reference to Subsistence, the value of a mass of the means of subsistence, is as the number of individuals it will subsist for a certain time.
With reference to Security, the value of a mass of wealth adapted to that purpose does not admitt of any such measure—It is still, however, the joint ratio of the quantity of the labour employ’d in the production of it—and the effect of it.
All instruments of Subsistence are instruments of enjoyment: but there are instruments of enjoyment which are not instruments of subsistence.
[Col. 4]
Enjoyments distinguished according to their Seat or Inlet are
1. Sensual
2. Mental
3. Mixt
Sensual enjoyments, by the principle of association are rendered mental also, and by that means mixt.
The enjoyment derived from objects in any degree sensual depends upon—
1.The state of the sense or organ to which the object is applied.
2. The nature of the object or instrument by which, when applied to the organ, the enjoyment is produced.
On the part of the object—the mass of enjoyments is encreased by every addition to the variety of the collection of instruments of enjoyment taken together—by novelty on the part of any one.
[Col. 6]
Materials of wealth considered as employd for the purpose of encreasing the quantity or value of a mass of wealth are called Capital.
The national wealth is the aggregate of the wealth of individuals.
Wealth and Capital is real or pecuniary.
Pecuniary capital is money employd in the way of exchange in purchasing the labour, [...?] materials or land of which real capital is composed.
Capital or wealth acts no otherwise than as far as it acts on labour.
It encreases wealth no otherwise than as far as it encreases either the quantity or the effect of labour.
[Col. 7]
II. Subject Matters
—with reference to the mode of their subserviency to use.
1. Ground.
2. Materials to be improved.
3. Instruments
4. Receptacles
5. Productions in a state for use.
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Receptacles
1. Stationary, viz: Buildings.
2. Moveable or /Ambulatory/occasional. viz:
1. Carriages
2. Navigable vessels.
Receptacles are
1. Particular; such as such as vessels, chests, boxes &c.
2. General—or buildings in which the particular vessels are contained.
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Proportional-quantity-stocking principle
Example
Guns in one shop
Shot in another
Powder in a third.
[Col. 8]
Means of encrease, their Comparative Importance.
1. articles of Subsistence
2. Defence—the denand for which varies with the danger.
3. Enjoyment, not contributing to subsistence.
__________
Productive Capital is composed of
1. Land with its improvements.
2. The aggregate mass of articles of subservient use )( immediate use.
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Opulence degree of (relative) is as the sum of labourer’s incomes to d o of all incomes
as between nation and nation, the real value of labourer’s wages being supposed the same in each.
Ceteris paribus a populous country will be the cheaper by a saving on the aggregate expence of conveyance.
[Col. 9]
Materials
Rude Produce, Application of Labour thereto
I. Extraction
1. Separation from the natural source—Land or Water.
1. Minerals—Discovery, digging, [...?], extracting, smelting.
2. Vegetables
1. Discovery
1. Felling Timber
2. Cutting herbs
3. Gathering fruits
3. Animals Housing[?]
Water
4. Fishing
1. catching
2. Curing.
II. Conveyance.
__________
Finance
Where a tax acts purely as a prohibition, that prohibition or diminution of consumption is only relative: so much as it takers from the consumption of the article tax[ed], so much it adds to the consumption of other articles: except so far as the aggregate of taxes takes from the aggregate of consumption of articles of enjoyment, to add to that of the articles of defence for which the [...?] is raised.
[Col. 10]
Unproductive taxes
I. Indirect income tax by encrease of money.
II. All measures encreasing the quantity of unprofitable labour; and thence diminishing the effect of profitable labour. viz.
1. Prohibition of export of money, thence unprofitable labour to collect the money by stealth, [...?] and find means to evade the tax.
2. Prohibition or [...?] direct trade between country and country: thence unprofitable labour &c. attendant on circuitous trade.
Finance
In proportion to the disadvantageousness of the terms on which money is borrowed it adds to [...?] though at the expence of intermediate comfort.
Similar Items
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Title: [31[?] Polit. Economy. Analysis 29 Aug 1801]Description: 31[?] Polit. Economy. Analysis 29 Aug 1801 [Col. 2] 56. Labour {encreasing {diminishing All other circumstances given the quantity of wealth produced within a given time will be as the quantity of labour {performed within that time.} 57. But taking each branch of industry separately, the quantity of wealth produced by labour within a given time being given the quantity of wealth produced in the whole community in that time, will naturally be inversely as the quantity of labour exerted in that branch: becasue the less labour is bestwoed in any particular branch or say the greater the quantity of labour withdrawn from any particular branch The quantity of wealth produced in it not being thereby diminished—the more is left free to be employd in other branches. [col. 3] 57. This gives the solution of what otherwise might seem a paradox: viz that wealth is encreased, as well by /diminishing/diminution of/ labour as by the encrease of it. [Col. 4] 58. Labour(Quantity (Efficiency In every instance where an encrease in the quantity of wealth has been produced, an encrease in the quantity of labour bestowed has been {an eff} contributory to that encrease—or say an efficient cause of it or not: if not if the encrease has not been in the quantity of labour so bestowed, it has been in /the effect/the efficiency/ of the quantity of labour so bestowed. The division is therefore an exhaustive one. [Col. 5] 59. Large Scale Ways in which the concentration of a large mass of capital in one set of hands—that is under one management—is favourable to the encrease of wealth. N o 15 1. Division of Labour. thence encrease of skill in regard to each operation. A. Sm N o 16. II. 4 2. Division of Labour—thence saving goings and comings—expence of conveyance in minute distances. A. Sm. A. Sm II. 5 3. Introduction of machinery—thence substitution of agents less expensive than man in the character prime movers (sources of motion) and guides. N o 0 4. Saving in respect of receptacles: the ratio of containing matter to contained space being less and less in proportion as the recptacle is greater and greater. [Col. 6] 59. 5. Saving in respect of fragments of labour on the part of the managing hands, and other hands whose whole time is constantly paid for. If there In a small establishment if there is more work than can be done by two, three must be retained, although there be not /half/a quarter/ enough work to fill up the time of the third. N o 0 6. Like saving in respect of cattle and dead instruments (tools or machines) which are but occasionally in use. N o 0 7. Saving in respect of the employment of refuse articles: articles which if disposed in several establishments and situations would be hardly worth collecting but which possess a value worth regarding when ready collected in one. [Col. 7] 59. Large Scale N o 23 8. Saving by purchases made at wholesale price. Not only the profit of the intermediate class or classes of dealers is thus saved, but the expence of conveyance from one to the other. N o 16 9. Employment of cheaply paid hands. By means of the division of labour, employment may be found for hands of imperfect ability for whom employment could not have been otherwise found to advantage. Hence the labour of these hands may be obtained at a cheap rate with reference to the expence of the particular master, and perhaps even for nothing with reference to the expence of the community taken together: for the labourer thus maintained /out of/by/ the pay for which he [...?] pays in labour might otherwise have been to be kept for nothing. [Col. 8] 59. Large Scale Apply this not to large manufactories only but to large Farms. N o 0 10. Applying to each work the hands best adapted to that work. The faculty of doing this will be as the choice of hands, and that as the number of hands. 11. In Agriculture the faculty of making improvements rising one above another indefinitely in respect of the mass of capital required: ex gr: Manuring, draining, making Roads and other Communications. So in regard to mining: [Col. 9] 60. Ways in which and means whereby the expence (real expence) attending the /extraction[?]/production/ of any article at the place where it is wanted to be employd may be reduced. [Col. 10] Preservation is 1.—for consumption as in cases of articles that are of use no otherwise than as consumed—as food drink &c. 2.—against consumption or say deperition as in cases of Houses furniture, cloaths &c.
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Title: [[186-8. Dates 26, 27, 29 Aug 1801]]Description: [186-8. Dates 26, 27, 29 Aug 1801] Polit. Economy Analysis 26 Aug. 1801 [Col. 1] 1. I. Final Cause Well-being, its—modifications, arranged in the order of their importance, are 1. Subsistence (present). 2. Security in respect of 1. Future subsistence. 2. Defence. 3. Enjoyment—mere enjoyment distinct from subsistence. 2. Causes of Wealth /II/I./ Material—Matter /III/II/. Efficient—Motion /I?III/ Final—Well-being 3. II. Matter I. Sources. 1. Land (dry.) 2. Water i:e: Land covered with water 4. II. Modifications or states 1. Unimproved: viz: 1. Mineral. 2. Vegetable. 3. Animal. [Col. 2] 5. I. Land—the source of the materials of which in an unimproved or improved state the matter of wealth is composed. II. Materials of wealth in an unimproved state. 6. Subject matters of human Labour. I. Matter in a state unimproved: viz: 1. Mineral 2. Vegetable 3. Animal 7. II. In a state improved which can only be by Motion employed in the way of 1. Simple Composition. Paints by coloured [...?], ochre mixt with oils of fish or nuts. 2. Simple analysis or decomposition. Production of black[?] from burning kelp. 3. Formation or Fabrication. 9. III. Operations being so many ways of applying labour to materials. 1. Discovery (a) (a) Examples of Discovery without a ) Celestial bodies. 2. Extraction. 3. Importation (if the place be exterior to the territory in question) 4. Naturalization (in case of vegetables). 5. Improvement. 6. Preservation. 7. Local conveyance. 8. Exchange. 9. Exportaction. 10. Employment. [Col. 3] /8/5/ III. Motion. I. Sources or Primum Mobiles 1. Inanimate. 2. Animate. /9/6/. Inanimate 1. /Water/Liquids by gravity. 2. by expansion and contraction. 3. by /expansion/conversion/ into gas (steam) by union with caloric and re-contraction. 2. Air atmospherical by 1. Gravity—Expansion and contraction—Wind. /10/7/. Animate—of Animals 1. Irrational—viz. cattle 2. Rational—Man—viz. by Labour. [Col. 4] /11/8/. Operations are modifications of the efficient cause acting upon a modification or modifications of Matter the material cause with a view to a modification or modifications of the final cause are 1. Discovery (a) 2. Extraction (b) 3. Importation if the spot from whence the extracted be exterior to the territory in question. /4./5./ Naturalization (in case of vegetables and animals).—— [Col.3] 5. Propagation of 1. Vegetables 2. Animals viz: by permission of sexual intercourse. Propagation is to extraction what Exportation is to Importation. [Col. 4] 5. Improvement. 5* Purifiaction of water. 6. Preservation. 7. Conveyance (local, national). 8. Conveyance (legal). (Conveyance of the legal right of employing a thing.) 9. Exportation. 9.* Weighing and measuring and counting [...?] 10. Use. 11. Formation (Fabrication a species of it.) [Col. 5] 12. (a) Motion = Labour. Matter =Materials. In every Operation Land (dry or covered with water) Materials (moveable portions of the substance or produce of land) and Labour must be jointly concerned. Whatever be the Operation (Common Operation) it must be performed by human labour, on a certain set of materials, resting or moving on a certain spot of land. But as neither land can be acted upon nor made subservient to human use or well-being but by labour nor materials /acted upon/prepared for use/, nor so much as extracted, without labour—in that respect labour may be considered as the sole source of wealth—[...?] of every modification of wealth may be referred to labour as to its efficient cause. [Col. 6] 13. All encrease—all motion referable to Labour Though labour (human labour) is but one of several sources of motion, yet still, what ever is derived from any of the other sources, towards the encrease of wealth, may be referred to human labour as its cause: because motion when produced from any of those other sources though it thereby saves a proportion of human labour which would have been required to produce the effect without their assistance, still labour non-human in so far as it is made subservient to any of those ends which human labour proposes to itself requires a concomitant portion of human labour to give it birth, or direction, or both. All modes of giving encrease to wealth, are referrable to labour: to the encreasing or husbanding of labour or husbandry (i:e: preserving) the fruit or produce of it. [Col. 7] 14. Capital (real (pecuniary Capital is the fruit or produce of antecedent labour applied, in conjunction with present labour, to the giving encrease positive or negative to the existing mass of wealth. 15. Capital is either (real (physical) or else pecuniary i:e: money. Real is either 1. Productive Stock [...?] or productive 2. Stock produced (Finished work) 15 * Summary capital—money employ’d as capital officiates in that character by being given in exchange for the articles of real capital is composed, or for the labour by which they are rendered subservient to the end in view which is the final cause of the establishment. [Col. 8] 16. Preservation = negative encrease Encreasee of wealth is either positive or negative: effected by operations of the positive cast, or by operations of the negative cast. 1. Positive encrease is by production. 2. Negative encrease is by preservation. 17. Preservation is either by immediate agency or by remote agency. 18. Preservation by immediate agency is by counteracting the influence of the causes of depirition or disappearance. Preservation by remote agency is by destroying [Col. 9] or removing the instruments of which the agency is the cause of destruction. 19. Uses Immediate and Subservient. An article of wealth is either of immediate or remote (or, say subservient) use: immediate, where it is itself applicable to one or other of the three ends, subsistence, security or enjoyment. remote or subservient where it contributes no otherwise to any of them than with reference to some other article which is of immediate use and which it renders or contributes to render applicable to Real[?] use. 20. Articles of subservient or remote use may be distinguished into articles of which the subserviency is of the first, second, third removes, and so it is with reference to articles of immediate use. [Col. 10] 21. Articles of subservient use are 1. Ground—(portions of land for a [...?] or substratum) 2. Receptacles 3. Materials 4. Instruments 22. Instruments are 1. Tools. 2. Machines (having parts that are fixed: + either 1. absolutely, or 2. with relation to the rest. + Fixed are 1. Supports and Head-masts[?] 2. Guides[?] 23. Receptacles are either 1. Immediate (with reference to the thing contained in them) or 2. Remote—which may be of the 1 st, 2 nd or 3 rd remove and so on. 24. Receptacles (of the last remove) are either 25. 1. Stationary or 2. Ambulatory. Stationary are either 1. Erections 2. Excavations. Ambulatory are 1. Carriages (Land carriages) 2. Vessels Water carriages 25. * Money an article of subservient use with reference to things vendible.
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Title: [17 Mar. 1804 Ch. 2. Leading Features]Description: 17 Mar. 1804 Ch. 2. Leading Features. '.3.I. Wealth. 3. Non Agenda. Broad Measures 1. Forced Frugality 10 1 54 { '.3.I. Wealth. - 3. Non Agenda 1. Measures which present themselves in the character of Non Agenda, may be distinguished into Broad Measures, and Narrow Measures: broad measures, having for their effect, or their object, the augmentation of wealth in all its shapes, without distinction: narrow measures, having 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. Examples of Broad Measures - 1. Forced Frugality: - National 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 ground, mentioned further on. - Injustice the first;-} /On the other hand the application of money raised by taxes in the shape of Capital to the endeavour to promote National opulence can only be carried into effect at the Expence of Justice - In the first place it operates unjustly by &c/ forcing a man to labour, though it were for his own benefit, where he wishes to enjoy. Injustice the second;- /It operates unjustly in the second place by &c/ forcing one man to labour for the sake of encreasing the enjoyments of another man: - encreasing his enjoyments, or rather the stock of the instrument 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 mass of instruments of enjoyment: application of these instruments in such manner as to produce actual enjoyment, depends altogether upon the individual, & is an effect altogether out of the reach of governmt. (a) p.19
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