Polit Econ. Method & Leading Features

6

Note continued

of real income, equal to the amount of 1801, will be doubled i:e: become

,432,000,000: to which will be added ,10,800,000 for an equivalent to the

intermediate addition to real wealth (,300,000 x 36). But the ,432,000,000 of

1837 being worth no more than the ,216,000,000 of 1801, each ,100 of the

,432,000,000 will be worth but ,50 of the ,216,000,000: that is the income of

each fixed-incomist will, by that time, have been subjected to an indirect

income tax of 50 per cent: (the King's ,900,000 will be reduced to ,450,000.)

He, whose pecuniary income in 1837 is double what it is in 1801 will in point of

wealth be neither a gainer, nor a loser, by the change. Not so in point of

comfort. For, by so much as he is against in wealth in the one way, by so much

he is a loser in the other: and, by the nature and constitution of the human

frame, sum for sum, enjoyment from gain is never equal to suffering from loss.-

End of Note

II. Narrow Measures.

V. Particular Encouragements to particular sources of wealth.

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

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)