1820 June 10

Emancipation Spanish

'.7. Rulers gainers

Abstractedly considered, the gain to the ruling portion of the community whether from the source in question or from any other, the gain /profit/ to the ruling portion, as to any other portion, of the community, is as far as it extends /by the whole amount /extent//, profit to the whole. If it /the effect/ be loss to the whole, it can only be in so far as loss to others, loss more than equivalent to the profit, is among the results of the operation by which the profit is produced.

In forming an estimate of the balance

The position the truth of which is to be enquired into is /are/ - that, while to the subject many the dominion in question is not productive of any profit in any shape, but on the contrary of great loss /to a great /vast/ amount/, to the ruling few on the contrary it is productive of great profit /to a great amount/: and that, of course, in that smaller profit they /you/ may see the undoubted /unquestionable/ cause of that greater and more equivalent loss.

In any /every/ estimate taken on the occasion of this account two circumstances require to be taken into consideration 1. The one is where, without equivalent regarded by him as such, money is by one many for less use, taken from another, both standing upon the same level in the scale of wealth, the difference between the enjoyment produced by the profit, and the suffering produced by the loss.

2. The other is the difference in the effect produced by the same sum, whether on the receiver /party receiving it/ in respect of profit, and enjoyment or the fairly deprived of it in respect of loss and suffering according to the level in which they repectively stand on the scale of wealth.