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.}