nd [wm 1800]

Ch. 2. Leading Features.

'.2. Wealth. 2. Non Agenda

4

2

Non Agenda may be distinguished into - I. Broad Measures - II. Narrow Measures.

I. Broad Measures, applying to all sources of wealth, without distinction.

I. Forced Frugality. Adding to National Capital (real capital) by money raised

on purpose; which must be by Taxes. Of all ineligible measures this is the least

ineligible, and most effective. The objection is - that it is a defalcation from

individual property without necessity. The addition /collation/ how great soever

the ratio of it to the defalcation /ablation/ is not compatible with justice:

the defalcation is from the property of Paul; the addition is to the property of

Peter.(a)

II. Encreasing Money: an indirect Income Tax on fixed-incomists. Labour, not

money, is the real source of wealth. All hands being employed, and employed in

the most advantageous manner, wealth could admitt of no further encrease: but

money would be encreasable ad infinitum.(b)

III. reducing Interest: viz. the lawful rate of Interest of money, borrowed by

individuals of individuals: - a direct and (to the state) unproductive

Income-Tax, on those whose Income arises out of a mass of money lent out at

Interest. In Ireland, in 1788 or thereabouts, this was proposed as a means of

increasing wealth, but rejected after a {great} /hard/ struggle.(c) +

IV. Increasing Land: viz. by Colonization: eligible, when there is a prospect of

deficiency of land with reference to Population: ineligible, in every other

point of view. The Taxes borne by the Mother Country are not diminished by it,

but increased. In the British Empire at least, it is a principle - that all

expences - in establishments civil, military, and naval, and occasional wars,

are

(a) Notes p.1

(b) Notes p.2.

(c) Notes. p.3

+ To Dumont. The defence of navy[?], which I sat over at the time contributed to

throw out the measure: as Parnel[?] their Chancr of the Exchequer, very good

[...?] to acknowledged [...?].

[Marginal note:] Interest is the price for the use of capital. As capital abounds

becomes more abundant (in [...?] of [...?]) the price of it, as any other

commodity lessens. By [...?] the price while [...?] should be permitted to }