├── 38194-h.htm ├── topic_state.gz ├── networkedcorpus ├── res │ ├── notch-left.png │ ├── index.js │ ├── browser.js │ ├── stopwords.txt │ ├── browser.css │ └── index.css └── COPYING ├── heading-topic-correlation.R ├── README.md ├── count-subheadings.py ├── split-Won1852.py ├── create-pair-network.py ├── topic-number-trials.R ├── COPYING ├── check-subheading-ordering.py ├── output-example-comparison.py ├── WoN1852-pages ├── 107 ├── 108 ├── 109 ├── 110 ├── 111 ├── 127 ├── 135 ├── 154 ├── 155 ├── 162 ├── 172 ├── 173 ├── 183 ├── 196 ├── 205 ├── 219 ├── 222 ├── 223 ├── 227 ├── 243 ├── 266 ├── 274 ├── 286 ├── 287 ├── 288 ├── 289 ├── 302 ├── 304 ├── 342 ├── 343 ├── 359 ├── 363 ├── 377 ├── 393 ├── 404 ├── 001 ├── 002 ├── 041 ├── 012 └── 023 ├── general-stats.R ├── create-network.py ├── parse-index.py └── match-index.py /38194-h.htm: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/jeffbinder/adamsmith/master/38194-h.htm -------------------------------------------------------------------------------- /topic_state.gz: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/jeffbinder/adamsmith/master/topic_state.gz -------------------------------------------------------------------------------- /networkedcorpus/res/notch-left.png: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/jeffbinder/adamsmith/master/networkedcorpus/res/notch-left.png -------------------------------------------------------------------------------- /networkedcorpus/res/index.js: -------------------------------------------------------------------------------- 1 | $(function () { 2 | $(".topic-link").mouseup(function () {return false;}); 3 | draw_matches(); 4 | }); 5 | -------------------------------------------------------------------------------- /heading-topic-correlation.R: -------------------------------------------------------------------------------- 1 | # This script does some tests on the example_comparison.csv file create by 2 | # match-index.py: an example of what data we have to look at with respect 3 | # to a topic and an index heading that are well-correlated. 4 | 5 | x <- read.csv('example_comparison.csv') 6 | 7 | plot(x$coef, type="l", xlab="Pages, sorted by topic coefficient", 8 | ylab="Topic coefficient", main="Pages listed under index heading (circles) vs. topic coefficient (line)") 9 | 10 | xs = which(x$in_heading == 1) 11 | ys = rep(0, length(xs)) 12 | points(y=ys, x=xs) 13 | 14 | cor.test(x$coef, x$in_heading, method="spearman") 15 | -------------------------------------------------------------------------------- /README.md: -------------------------------------------------------------------------------- 1 | The Networked Corpus - Adam Smith version 2 | ========= 3 | 4 | This repository contains code used for a comparative study of a topic model and the index to Adam Smith's Wealth of Nations. For more information, see our project Web site here: 5 | 6 | http://www.networkedcorpus.com 7 | 8 | This repo includes code adapted from our other repo: 9 | 10 | http://github.com/jeffbinder/networkedcorpus 11 | 12 | It also includes a copy of Adam Smith's Wealth of Nations taken from Project Gutenberg. You can view the text we used at Project Gutenberg's Web site: 13 | 14 | http://www.gutenberg.org/files/38194/38194-h/38194-h.htm 15 | -------------------------------------------------------------------------------- /count-subheadings.py: -------------------------------------------------------------------------------- 1 | # Output the number of subheadings matching a given pattern 2 | 3 | import pickle 4 | import re 5 | 6 | index = pickle.load(open('index.pkl')) 7 | 8 | nsubheadings = 0 9 | nmatching_subheadings = 0 10 | for heading in index: 11 | subheadings = set() 12 | for subheading, n in index[heading]: 13 | subheadings.add(subheading) 14 | for subheading in subheadings: 15 | nsubheadings += 1 16 | if re.search(r'(^|[^a-zA-Z])how($|[^a-zA-Z])', subheading): 17 | nmatching_subheadings += 1 18 | elif 'how' in subheading: 19 | print subheading 20 | 21 | print nmatching_subheadings, nsubheadings 22 | -------------------------------------------------------------------------------- /split-Won1852.py: -------------------------------------------------------------------------------- 1 | import re 2 | 3 | f = open('WoN1852-body.html', 'r') 4 | 5 | def strip_html_tags(s): 6 | s = re.sub('<[^>]*>', '', s) 7 | s = re.sub('<[^>]*$', '', s) 8 | s = re.sub('^[^>]*>', '', s) 9 | s = re.sub(' ', ' ', s) 10 | return s 11 | 12 | pagenum = 0 13 | outf = None 14 | for line in f.readlines(): 15 | newpage = 'a name="Page_' in line 16 | if newpage: 17 | line = re.sub('\[Pg [0-9]+\]', '', line) 18 | line = strip_html_tags(line) 19 | line = line.replace('\r\n', '\n') 20 | line = line.strip() + '\n' 21 | if outf: 22 | outf.write(line) 23 | if newpage: 24 | pagenum += 1 25 | outf = open('WoN1852-pages/{0:03}'.format(pagenum), 'w') 26 | 27 | -------------------------------------------------------------------------------- /create-pair-network.py: -------------------------------------------------------------------------------- 1 | # This script takes in index-path-pairs-edited.txt, which should contain the 2 | # list of paired subheadings that create-network.py creates in index-path-pairs.txt, 3 | # with spurious examples removed, and produces a CSV file suitable for use with 4 | # Gephi. 5 | 6 | network = {} 7 | 8 | inf = open('index-path-pairs.txt') 9 | lines = inf.readlines() 10 | for i in xrange(0, len(lines), 3): 11 | a, b = lines[i].split(', ')[0], lines[i+1].split(', ')[0] 12 | if a < b: 13 | edge = a, b 14 | else: 15 | edge = b, a 16 | if edge in network: 17 | network[edge] += 1 18 | else: 19 | network[edge] = 1 20 | 21 | f = open('index-pairs.csv', 'w') 22 | f.write('Source,Target,Weight,Type\n') 23 | for a, b in network: 24 | f.write(a + ',' + b + ',' + str(network[(a, b)]) + ',Undirected\n') 25 | -------------------------------------------------------------------------------- /topic-number-trials.R: -------------------------------------------------------------------------------- 1 | # Creates a chart of the output of topic-number trials. 2 | 3 | x <- read.csv('results_by_num_topics.csv') 4 | plot(x$num_topics, x$avg_best_correlation, ylim=c(0, 0.4), xlim=c(0, 60), 5 | xlab="Number of topics", ylab="Average best-match correlation for topics") 6 | 7 | x <- read.csv('results_by_num_topics_2.csv') 8 | plot(x$num_topics, x$avg_best_correlation, ylim=c(0, 0.4), xlim=c(0, 60), 9 | xlab="Number of topics in model", ylab="Best-match correlation for this topic") 10 | 11 | x <- read.csv('results_by_num_topics_3.csv') 12 | plot(x$num_topics, x$num_strongly_matched_headings, col="darkgrey", ylim=c(0, 40), xlim=c(0, 60), 13 | xlab="Number of topics in model", ylab="Number of index headings correlated >= 0.25 w/ some topic", 14 | main="Number of index headings matched by topic models (40 trials)") 15 | x1 <- aggregate(x, by=list(x$num_topics), FUN=mean) 16 | lines(x1$num_topics, x1$num_strongly_matched_headings, lwd=3) 17 | -------------------------------------------------------------------------------- /COPYING: -------------------------------------------------------------------------------- 1 | Copyright (c) 2012 Jeff Binder, Collin Jennings 2 | 3 | Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: 4 | 5 | The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software. 6 | 7 | THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. -------------------------------------------------------------------------------- /networkedcorpus/COPYING: -------------------------------------------------------------------------------- 1 | Copyright (c) 2012 Jeff Binder, Collin Jennings 2 | 3 | Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: 4 | 5 | The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software. 6 | 7 | THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. -------------------------------------------------------------------------------- /check-subheading-ordering.py: -------------------------------------------------------------------------------- 1 | # This script verifies that all of the subheadings in the index appear in page 2 | # number order, and looks for headings that refer to non-contiguous passages. 3 | 4 | import pickle 5 | 6 | index = pickle.load(open('index.pkl')) 7 | 8 | for heading in index: 9 | subheadings = index[heading] 10 | prev_subheading = subheadings[0][0] 11 | prev_pagenum = subheadings[0][1] 12 | for subheading, pagenum in subheadings[1:]: 13 | if pagenum < prev_pagenum: 14 | print 'Ordering inconsistency in ', heading, ', ', prev_subheading 15 | prev_subheading = subheading 16 | prev_pagenum = pagenum 17 | 18 | for heading in index: 19 | subheadings = index[heading] 20 | prev_subheading = subheadings[0][0] 21 | prev_pagenum = subheadings[0][1] 22 | for subheading, pagenum in subheadings: 23 | if subheading != prev_subheading: 24 | continue 25 | if pagenum > prev_pagenum + 5: 26 | print 'Non-contiguity in ', heading, ', ', subheading 27 | prev_subheading = subheading 28 | prev_pagenum = pagenum 29 | -------------------------------------------------------------------------------- /output-example-comparison.py: -------------------------------------------------------------------------------- 1 | # Output an example of an apparently connected topic-heading pair to examine 2 | # in R. 3 | 4 | import pickle 5 | 6 | steps = 1000 7 | 8 | def jaccard(S1, S2): 9 | return float(len(S1 & S2)) / len(S1 | S2) 10 | 11 | index = pickle.load(open('index.pkl')) 12 | 13 | f = open('doc_topics.txt', 'r') 14 | f.readline() 15 | topic_coefs = {} 16 | for line in f.readlines(): 17 | line = line.split('\t') 18 | pagenum = line[1].split('/')[-1].replace('%20', ' ').replace('%3F', '?') 19 | pagenum = int(pagenum) 20 | line = line[2:] 21 | ntopics = len(line) / 2 22 | for i in xrange(0, ntopics): 23 | topic = int(line[i*2]) 24 | coef = float(line[i*2 + 1]) 25 | topic_coefs.setdefault(topic, {})[pagenum] = coef 26 | 27 | heading = 'Justice' 28 | topic = 28 29 | 30 | f = open('example_comparison.csv', 'w') 31 | f.write('pagenum,coef,in_heading\n') 32 | heading_pages = set(x[1] for x in index[heading]) 33 | data = [(pagenum, topic_coefs[topic][pagenum], 34 | 1 if pagenum in heading_pages else 0) 35 | for pagenum in topic_coefs[topic]] 36 | data = sorted(data, key=lambda x: x[1]) 37 | for row in data: 38 | f.write(','.join(str(x) for x in row) + '\n') 39 | -------------------------------------------------------------------------------- /WoN1852-pages/107: -------------------------------------------------------------------------------- 1 | very simple but honest conviction, that their 2 | interest, and not his, was the interest of the 3 | public. The interest of the dealers, however, 4 | in any particular branch of trade or manufactures, 5 | is always in some respects different from, 6 | and even opposite to, that of the public. To 7 | widen the market, and to narrow the competition, 8 | is always the interest of the dealers. 9 | To widen the market may frequently be agreeable 10 | enough to the interest of the public; but 11 | to narrow the competition must always be 12 | against it, and can only serve to enable the 13 | dealers, by raising their profits above what 14 | they naturally would be, to levy, for their own 15 | benefit, an absurd tax upon the rest of their 16 | fellow-citizens. The proposal of any new law 17 | or regulation of commerce which comes from 18 | this order, ought always to be listened to with 19 | great precaution, and ought never to be adopted 20 | till after having been long and carefully 21 | examined, not only with the most scrupulous, 22 | but with the most suspicious attention. It 23 | comes from an order of men, whose interest 24 | is never exactly the same with that of the public, 25 | who have generally an interest to deceive 26 | and even to oppress the public, and who accordingly 27 | have, upon many occasions, both deceived 28 | and oppressed it. 29 | -------------------------------------------------------------------------------- /networkedcorpus/res/browser.js: -------------------------------------------------------------------------------- 1 | $(function () { 2 | $(".marginal-link").each(function (i, e) { 3 | var $e = $(e); 4 | $e.html('✻'); 6 | }); 7 | 8 | create_top_topics_list(); 9 | 10 | if (window.location.href.search("\\?topic") != -1) { 11 | // We came in through a link to a particular place in the 12 | // document. Scroll up a bit so that the header doesn't 13 | // get in the way. 14 | var topic = window.location.href.split("?topic")[1]; 15 | show_popup(parseInt(topic), center=true); 16 | } else if (window.location.href.search("\\?explain") != -1) { 17 | // We came in through a link to a particular place in the 18 | // document. Scroll up a bit so that the header doesn't 19 | // get in the way. 20 | var topic = window.location.href.split("?explain")[1]; 21 | explain_topic(parseInt(topic)); 22 | } else if (window.location.href.search("\\?heading") != -1) { 23 | var heading = window.location.href.split("?heading")[1]; 24 | explain_heading(heading); 25 | } 26 | 27 | // We don't want to immediately hide the popup if the user clicks 28 | // on a link that might open something else. 29 | $(".marginal-link").mouseup(function () {return false;}); 30 | $(".explanation-link").mouseup(function () {return false;}); 31 | $(".heading-link").mouseup(function () {return false;}); 32 | $("#prev-link").mouseup(function () {return false;}); 33 | $("#next-link").mouseup(function () {return false;}); 34 | }); 35 | -------------------------------------------------------------------------------- /WoN1852-pages/110: -------------------------------------------------------------------------------- 1 | 2 | 3 | 4 | 5 | 6 | Wheat per Quarter. 7 | Years.L.s.d. 8 | 17011178 9 | 1702196 10 | 17031160 11 | 1704266 12 | 17051100 13 | 1706160 14 | 1707186 15 | 1708216 16 | 17093186 17 | 17103180 18 | 17112140 19 | 1712264 20 | 17132110 21 | 17142104 22 | 1715230 23 | 1716280 24 | 1717258 25 | 171811810 26 | 17191150 27 | 17201170 28 | 17211176 29 | 17221160 30 | 17231148 31 | 17241170 32 | 1725286 33 | 1726260 34 | 1727220 35 | 17282146 36 | 17292610 37 | 17301166 38 | 173111210 39 | 1732168 40 | 1733184 41 | 173411810 42 | 1735230 43 | 1736204 44 | 17371180 45 | 17381156 46 | 17391186 47 | 17402108 48 | 1741268 49 | 17421140 50 | 17431410 51 | 17441410 52 | 1745176 53 | 17461190 54 | 174711410 55 | 17481170 56 | 17491170 57 | 17501126 58 | 17511186 59 | 17522110 60 | 1753248 61 | 17541148 62 | 175511310 63 | 1756253 64 | 1757300 65 | 17582100 66 | 175911910 67 | 17601166 68 | 17611103 69 | 17621190 70 | 1763209 71 | 1764269 72 | 73 | ———————— 74 | 64)129136 75 | ———————— 76 | 20618⁄64 77 | 78 | 79 | 80 | 81 | 82 | 83 | Wheat per Quarter. 84 | Years.L.s.d. 85 | 173111210 86 | 1732168 87 | 1733184 88 | 173411810 89 | 1735230 90 | 1736204 91 | 17371180 92 | 17381156 93 | 17391186 94 | 17402108 95 | 96 | ———————— 97 | 10)18128 98 | ———————— 99 | 11731⁄5 100 | 101 | 102 | 103 | 104 | 105 | 106 | 107 | Wheat per Quarter. 108 | Years.L.s.d. 109 | 1741268 110 | 17421140 111 | 17431410 112 | 17441410 113 | 1745176 114 | 17461190 115 | 174711410 116 | 17481170 117 | 17491170 118 | 17501126 119 | 120 | ———————— 121 | 10)16182 122 | ———————— 123 | 11394⁄5 124 | 125 | 126 | 127 | 128 | 129 | 130 | -------------------------------------------------------------------------------- /WoN1852-pages/287: -------------------------------------------------------------------------------- 1 | INDEX. 2 | 3 | 4 | The two following accounts are subjoined, in order to illustrate and confirm what is said in 5 | the fifth chapter of the fourth book, concerning the Tonnage Bounty to the White-herring 6 | Fishery. The reader, I believe, may depend upon the accuracy of both accounts. 7 | 8 | 9 | An Account of Busses fitted out in Scotland for eleven Years, with the Number of empty Barrels 10 | carried out, and the Number of Barrels of Herrings caught; also the Bounty, at a 11 | Medium, on each Barrel of Sea-sticks, and on each Barrel when fully packed. 12 | 13 | 14 | 15 | Years.Number ofBusses.Empty Barrelscarried out.Barrels ofHerrings caught.Bounty paidon the Busses. 16 | L. s. d. 17 | 1771 29 5,948 2,832 2,885 0 0 18 | 1772 168 41,316 22,237 11,055 7 6 19 | 1773 190 42,333 42,055 12,510 8 6 20 | 1774 240 59,303 56,365 26,952 2 6 21 | 1775 275 69,144 52,879 19,315 15 0 22 | 1776 294 76,329 51,863 21,290 7 6 23 | 1777 240 62,679 45,313 17,592 2 6 24 | 1778 220 56,390 40,958 16,316 2 6 25 | 1779 206 55,194 29,367 15,287 0 0 26 | 1780 181 48,315 19,885 13,445 12 6 27 | 1781 135 33,992 16,593 9,613 15 6 28 | Total, 2,186 550,943 378,347L.165,463 14 0 29 | 30 | 31 | 32 | 33 | 34 | Sea-sticks,378,347 35 | 1-3d deducted,126,1152⁄3 36 | ———— 37 | Barrels fully packed, 252,2311⁄3 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | Bounty, at a medium, for each barrel of sea-sticks,L.0 8 2¼ 46 | But a barrel of sea-sticks being only reckoned 47 | two thirds of a barrel fully packed, one third 48 | is to be deducted, which brings the bounty toL.0 12 3¾ 49 | And if the herrings are exported, there is besides, a premium ofL.0 2 8 50 | ————— 51 | So that the bounty paid by government in money, for each barrel, isL.0 14 11¾ 52 | But if to this, the duty of the salt usually taken credit for 53 | as expended in curing each barrel, which, at a medium, is, of 54 | foreign, one bushel and one-fourth of a bushel, at 10s. 55 | a-bushel, be added. viz. 0 12 6 56 | ————— 57 | the bounty on each barrel would amount toL.1 7 5¾ 58 | ————— 59 | -------------------------------------------------------------------------------- /WoN1852-pages/288: -------------------------------------------------------------------------------- 1 | If the herrings are cured with British salt, it will stand thus, viz. 2 | Bounty, as beforeL.0 14 11¾ 3 | But if to this bounty, the duty on two bushels of Scotch salt, 4 | at 1s. 6d. per bushel, supposed to be the quantity, at a 5 | medium, used in curing each barrel, is added, viz. 0 3 0 6 | ————— 7 | the bounty on each barrel will amount toL.0 17 11¾ 8 | ————— 9 | 10 | And when buss herrings are entered for home consumption in Scotland, and 11 | pay the shilling a-barrel of duty, the bounty stands thus, to wit, as 12 | beforeL.0 12 3 13 | From which the 1s. a-barrel is to be deducted 0 1 0 14 | ————— 15 | L.0 11 3¾ 16 | But to that there is to be added again, the duty of the 17 | foreign salt used in curing a barrel of herrings, viz. 0 12 6 18 | ————— 19 | So that the premium allowed for each barrel of herrings 20 | entered for home consumption isL.1 3 9¾ 21 | ————— 22 | 23 | If the herrings are cured with British salt, it will stand as 24 | follows, viz. 25 | Bounty on each barrel brought in by the busses, as aboveL.0 12 3¾ 26 | From which deduct the 1s. a-barrel, paid at the time they are 27 | entered for home consumption 0 1 0 28 | ————— 29 | L.0 11 3¾ 30 | But if to the bounty, the duty on two bushels of Scotch salt, 31 | at 1s. 6d. per bushel, supposed to be the quantity, at a 32 | medium, used in curing each barrel, is added, viz. 0 3 0 33 | ————— 34 | the premium for each barrel entered for home consumption will beL.0 14 3¾ 35 | 36 | 37 | 38 | Though the loss of duties upon herrings exported cannot, perhaps, properly 39 | be considered as bounty, that upon herrings entered for home consumption 40 | certainly may. 41 | 42 | An Account of the Quantity of Foreign Salt imported into Scotland, and of Scotch Salt delivered 43 | Duty-free from the Works there, for the Fishery, from the 5th of April 1771 to the 5th of 44 | April 1782, with the Medium of both for one Year. 45 | 46 | 47 | 48 | 49 | 50 | PERIOD.Foreign Salt imported.Scotch Salt deliveredfrom the Works. 51 | Bushels Bushels 52 | From the 5th of April 1771 to the 5th April 1782. 936,974 168,226 53 | Medium for one year 85,1795⁄11 15,2933⁄11 54 | 55 | 56 | It is to be observed, that the bushel of foreign salt weighs 48lb. that of British salt, 56lb. 57 | only. 58 | 59 | 60 | 61 | 62 | 63 | -------------------------------------------------------------------------------- /WoN1852-pages/404: -------------------------------------------------------------------------------- 1 | might, and probably would by this time, have 2 | been completely paid; and had it not been 3 | for the colonies, the former of those wars 4 | might not, and the latter certainly would not, 5 | have been undertaken. It was because the 6 | colonies were supposed to be provinces of the 7 | British Empire, that this expense was laid out 8 | upon them. But countries which contribute 9 | neither revenue nor military force towards the 10 | support of the empire, cannot be considered as 11 | provinces. They may, perhaps, be considered 12 | as appendages, as a sort of splendid and 13 | shewy equipage of the empire. But if the 14 | empire can no longer support the expense of 15 | keeping up this equipage, it ought certainly to 16 | lay it down; and if it cannot raise its revenue 17 | in proportion to its expense, it ought at least 18 | to accommodate its expense to its revenue. If 19 | the colonies, notwithstanding their refusal to 20 | submit to British taxes, are still to be considered 21 | as provinces of the British empire, 22 | their defence, in some future war, may cost 23 | Great Britain as great an expense as it ever 24 | has done in any former war. The rulers of 25 | Great Britain have, for more than a century 26 | past, amused the people with the imagination 27 | that they possessed a great empire on the west 28 | side of the Atlantic. This empire, however, 29 | has hitherto existed in imagination only. It 30 | has hitherto been, not an empire, but the project 31 | of an empire; not a gold mine, but the 32 | project of a gold mine; a project which has 33 | cost, which continues to cost, and which, if pursued 34 | in the same way as it has been hitherto, is 35 | likely to cost, immense expense, without being 36 | likely to bring any profit; for the effects of the 37 | monopoly of the colony trade, it has been shewn, 38 | are to the great body of the people, mere loss 39 | instead of profit. It is surely now time that 40 | our rulers should either realize this golden 41 | dream, in which they have been indulging 42 | themselves, perhaps, as well as the people; or 43 | that they should awake from it themselves, 44 | and endeavour to awaken the people. If the 45 | project cannot be completed, it ought to be 46 | given up. If any of the provinces of the 47 | British empire cannot be made to contribute 48 | towards the support of the whole empire, it is 49 | surely time that Great Britain should free 50 | herself from the expense of defending those 51 | provinces in time of war, and of supporting 52 | any part of their civil or military establishments 53 | in time of peace; and endeavour to accommodate 54 | her future views and designs to 55 | the real mediocrity of her circumstances. 56 | -------------------------------------------------------------------------------- /WoN1852-pages/108: -------------------------------------------------------------------------------- 1 | 2 | 3 | 4 | PRICES OF WHEAT. 5 | 6 | 7 | 8 | 9 | 10 | YearsXII. 11 | Price of the Quarter of Wheat each Year. 12 | Average of the different Prices of the same Year. 13 | The Average Price of each Year in Money of the present times. 14 | 15 | L. s. d. L. s. d. L. s. d. 16 | 1202 0 12 0 - - - 1 16 0 17 | 1205 0 12 00 13 40 15 00 13 5 2 0 3 18 | 1223 0 12 0 - - - 1 16 0 19 | 1237 0 3 4 - - - 0 10 0 20 | 1243 0 2 0 - - - 0 6 0 21 | 1244 0 2 0 - - - 0 6 0 22 | 1246 0 16 0 - - - 2 8 0 23 | 1247 0 13 5 - - - 2 0 0 24 | 1257 1 4 0 - - - 3 12 0 25 | 1258 1 0 00 15 00 16 00 17 0 2 11 0 26 | 12704 16 06 8 05 12 0 16 16 0 27 | 12860 2 80 16 00 9 4 1 8 0 28 | 29 | Total, 35 9 3 30 | Average price, 2 19 1¼ 31 | 32 | 33 | 34 | 1287 0 3 4 - - - 0 10 0 35 | 12880 0 80 1 00 1 40 1 60 1 80 2 00 3 40 9 4 0 3 0¼ 0 9 1¾ 36 | 12890 12 00 6 00 2 00 10 81 0 0 0 10 1½ 1 10 4½ 37 | 1290 0 16 0 - - - 2 8 0 38 | 1294 0 16 0 - - - 2 8 0 39 | 1302 0 4 0 - - - 0 12 0 40 | 1309 0 7 2 - - - 1 1 6 41 | 1315 1 0 0 - - - 3 0 0 42 | 1316 1 0 01 10 01 12 02 0 0 1 10 6 4 11 6 43 | 1317 2 4 00 14 02 13 04 0 00 6 8 1 19 6 5 18 6 44 | 1336 0 2 0 - - - 0 6 0 45 | 1338 0 3 4 - - - 0 10 0 46 | 47 | Total, 23 4 11¼ 48 | Average price, 1 18 8 49 | 50 | 51 | 52 | 1339 0 9 0 - - - 1 7 0 53 | 1349 0 2 0 - - - 0 5 2 54 | 1359 1 6 8 - - - 3 2 2 55 | 1361 0 2 0 - - - 0 4 8 56 | 1363 0 15 0 - - - 1 15 0 57 | 1369 1 0 01 4 0 1 2 0 2 9 4 58 | 1379 0 4 0 - - - 0 9 4 59 | 1387 0 2 0 - - - 0 4 8 60 | 1390 0 13 40 14 00 16 0 0 14 5 1 13 7 61 | 1401 0 16 0 - - - 1 17 6 62 | 1407 0 4 4¾0 3 4 0 3 10 0 8 11 63 | 1416 0 16 0 - - - 1 12 0 64 | 65 | Total, 15 9 4 66 | Aver. price, 1 5 9½ 67 | 68 | 69 | 70 | 1423 0 8 0 - - - 0 16 0 71 | 1425 0 4 0 - - - 0 8 0 72 | 1434 1 6 8 - - - 2 13 4 73 | 1435 0 5 4 - - - 0 10 8 74 | 1439 1 0 01 6 8 1 3 4 2 6 8 75 | 1440 1 4 0 - - - 2 8 0 76 | 1444 0 4 40 4 0 0 4 2 0 8 4 77 | 1445 0 4 6 - - - 0 9 0 78 | 1447 0 8 0 - - - 0 16 0 79 | 1448 0 6 8 - - - 0 13 4 80 | 1449 0 5 0 - - - 0 10 0 81 | 1451 0 8 0 - - - 0 16 0 82 | 83 | Total, 12 15 4 84 | Aver. price, 1 1 3⅓ 85 | 86 | 87 | 88 | 1453 0 5 4 - - - 0 10 8 89 | 1455 0 1 2 - - - 0 2 4 90 | 1457 0 7 8 - - - 0 15 4 91 | 1459 0 5 0 - - - 0 10 0 92 | 1460 0 8 0 - - - 0 16 0 93 | 1463 0 2 00 1 8 0 1 10 0 3 8 94 | 1464 0 6 8 - - - 0 10 0 95 | 1486 1 4 0 - - - 1 17 0 96 | 1491 0 14 8 - - - 1 2 0 97 | 1494 0 4 0 - - - 0 6 0 98 | 1495 0 3 4 - - - 0 5 0 99 | 1497 1 0 0 - - - 1 11 0 100 | 101 | Total, 8 9 0 102 | Aver. price, 0 14 1 103 | 104 | 105 | -------------------------------------------------------------------------------- /networkedcorpus/res/stopwords.txt: -------------------------------------------------------------------------------- 1 | a able about above according accordingly across actually after afterwards again against all allow allows almost alone along already also although always am among amongst an and another any anybody anyhow anyone anything anyway anyways anywhere apart appear appreciate appropriate are around as aside ask asking associated at available away awfully b be became because become becomes becoming been before beforehand behind being believe below beside besides best better between beyond both brief but by c came can cannot cant cause causes certain certainly changes clearly co com come comes concerning consequently consider considering contain containing contains corresponding could course currently d definitely described despite did different do does doing done down downwards during e each edu eg eight either else elsewhere enough entirely especially et etc even ever every everybody everyone everything everywhere ex exactly example except f far few fifth first five followed following follows for former formerly forth four from further furthermore g get gets getting given gives go goes going gone got gotten greetings h had happens hardly has have having he hello help hence her here hereafter hereby herein hereupon hers herself hi him himself his hither hopefully how howbeit however i ie if ignored immediate in inasmuch inc indeed indicate indicated indicates inner insofar instead into inward is it its itself j just k keep keeps kept know knows known l last lately later latter latterly least less lest let like liked likely little look looking looks ltd m mainly many may maybe me mean meanwhile merely might more moreover most mostly much must my myself n name namely nd near nearly necessary need needs neither never nevertheless new next nine no nobody non none noone nor normally not nothing novel now nowhere o obviously of off often oh ok okay old on once one ones only onto or other others otherwise ought our ours ourselves out outside over overall own p particular particularly per perhaps placed please plus possible presumably probably provides q que quite qv r rather rd re really reasonably regarding regardless regards relatively respectively right s said same saw say saying says second secondly see seeing seem seemed seeming seems seen self selves sensible sent serious seriously seven several shall she should since six so some somebody somehow someone something sometime sometimes somewhat somewhere soon sorry specified specify specifying still sub such sup sure t take taken tell tends th than thank thanks thanx that thats the their theirs them themselves then thence there thereafter thereby therefore therein theres thereupon these they think third this thorough thoroughly those though three through throughout thru thus to together too took toward towards tried tries truly try trying twice two u un under unfortunately unless unlikely until unto up upon us use used useful uses using usually uucp v value various very via viz vs w want wants was way we welcome well went were what whatever when whence whenever where whereafter whereas whereby wherein whereupon wherever whether which while whither who whoever whole whom whose why will willing wish with within without wonder would would x y yes yet you your yours yourself yourselves z zero 2 | -------------------------------------------------------------------------------- /WoN1852-pages/109: -------------------------------------------------------------------------------- 1 | 2 | 1499 0 4 0 - - - 0 6 0 3 | 1504 0 5 8 - - - 0 8 6 4 | 1521 1 0 0 - - - 1 10 0 5 | 1551 0 8 0 - - - 0 8 0 6 | 1553 0 8 0 - - - 0 8 0 7 | 1554 0 8 0 - - - 0 8 0 8 | 1555 0 8 0 - - - 0 8 0 9 | 1556 0 8 0 - - - 0 8 0 10 | 1957 0 4 00 5 00 8 02 13 4 0 17 8½ 0 17 8½ 11 | 1558 0 8 0 - - - 0 8 0 12 | 1559 0 8 0 - - - 0 8 0 13 | 1560 0 8 0 - - - 0 8 0 14 | 15 | Total, 6 0 2½ 16 | Average price, 0 10 05⁄12 17 | 18 | 19 | 20 | 1561 0 8 0 - - - 0 8 0 21 | 1562 0 8 0 - - - 0 8 0 22 | 1574 2 16 01 4 0 2 0 0 2 0 0 23 | 1587 3 4 0 - - - 3 4 0 24 | 1594 2 16 0 - - - 2 16 0 25 | 1595 2 13 0 - - - 2 13 0 26 | 1596 4 0 0 - - - 4 0 0 27 | 1597 5 4 04 0 0 4 12 0 4 12 0 28 | 1598 2 16 8 - - - 2 16 8 29 | 1599 1 19 2 - - - 1 19 2 30 | 1600 1 17 8 - - - 1 17 8 31 | 1601 1 14 10 - - - 1 14 10 32 | 33 | Total, 28 9 4 34 | Average price, 2 7 5⅓ 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | PRICES OF THE QUARTER OF NINE BUSHELS OF THE BEST OR HIGHEST PRICED WHEAT AT WINDSOR 43 | MARKET, ON LADY-DAY AND MICHAELMAS, FROM 1595 TO 1764, BOTH INCLUSIVE; THE 44 | PRICE OF EACH YEAR BEING THE MEDIUM BETWEEN THE HIGHEST PRICES OF THOSE TWO 45 | MARKET-DAYS. 46 | 47 | 48 | 49 | 50 | Wheat per Quarter. 51 | Years.L.s.d. 52 | 1595200 53 | 1596280 54 | 1597396 55 | 15982168 56 | 15991192 57 | 16001178 58 | 160111410 59 | 1602194 60 | 16031154 61 | 16041108 62 | 160511510 63 | 16061130 64 | 16071168 65 | 16082168 66 | 16092100 67 | 161011510 68 | 16111188 69 | 1612224 70 | 1613288 71 | 1614218½ 72 | 16151188 73 | 1616204 74 | 1617288 75 | 1618268 76 | 16191154 77 | 16201104 78 | 79 | ———————— 80 | 26)5406½ 81 | ———————— 82 | 2169⁄13 83 | 84 | 85 | 86 | 87 | 88 | 89 | Wheat per Quarter. 90 | Years.L.s.d. 91 | 16211104 92 | 16222188 93 | 16232120 94 | 1624280 95 | 16252120 96 | 1626294 97 | 16271160 98 | 1628180 99 | 1629220 100 | 16302158 101 | 1631380 102 | 16322134 103 | 16332180 104 | 16342160 105 | 16352160 106 | 16362168 107 | 108 | ———————— 109 | 16)4000 110 | ———————— 111 | 2100 112 | 113 | 114 | 115 | 116 | 117 | 118 | Wheat per Quarter. 119 | Years.L.s.d. 120 | 16372130 121 | 16382174 122 | 16392410 123 | 1640248 124 | 1641280 125 | 1642[26]000 126 | 1643[26]000 127 | 1644[26]000 128 | 1645[26]000 129 | 1646280 130 | 16473130 131 | 1648450 132 | 1649400 133 | 16503168 134 | 16513134 135 | 1652296 136 | 16531156 137 | 1654160 138 | 16551134 139 | 1656230 140 | 1657268 141 | 1658350 142 | 1659360 143 | 16602166 144 | 16613100 145 | 16623140 146 | 16632170 147 | 1664206 148 | 1665294 149 | 16661160 150 | 16671160 151 | 1668200 152 | 1669244 153 | 1670218 154 | 1671220 155 | 1672210 156 | 1673268 157 | 1674388 158 | 1675348 159 | 16761180 160 | 1677220 161 | 16782190 162 | 1679300 163 | 1680250 164 | 1681268 165 | 1682240 166 | 1683200 167 | 1684240 168 | 1685268 169 | 16861140 170 | 1687152 171 | 1688260 172 | 16891100 173 | 16901148 174 | 16911140 175 | 1692268 176 | 1693378 177 | 1694340 178 | 16952130 179 | 16963110 180 | 1697300 181 | 1698384 182 | 1699340 183 | 1700200 184 | 185 | ———————— 186 | 60)15318 187 | ———————— 188 | 2110½ 189 | 190 | 191 | 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border-top: 1px solid lightGrey; 101 | } 102 | 103 | .last-row .text-line { 104 | border-bottom: 1px solid lightGrey; 105 | } 106 | 107 | #chart-cell { 108 | padding-right: 10px; 109 | } 110 | 111 | .marginal-link-cell { 112 | padding-right: 10px; 113 | } 114 | 115 | .marginal-link a { 116 | color: black; 117 | text-decoration: none; 118 | } 119 | 120 | #popup-cell { 121 | padding-left: 10px; 122 | border-bottom: none; 123 | } 124 | 125 | #popup-content { 126 | background-color: white; 127 | border: 1px solid lightGrey; 128 | padding: 10px; 129 | -moz-border-radius: 10px; 130 | -webkit-border-radius: 10px; 131 | -khtml-border-radius: 10px; 132 | border-radius: 10px; 133 | white-space: nowrap; 134 | overflow-x: hidden; 135 | } 136 | 137 | .heading-selector { 138 | cursor: pointer; 139 | -moz-border-radius: 5px; 140 | -webkit-border-radius: 5px; 141 | -khtml-border-radius: 5px; 142 | border-radius: 5px; 143 | padding-left: 2px; 144 | padding-right: 2px; 145 | } 146 | 147 | .topic-selector { 148 | cursor: pointer; 149 | -moz-border-radius: 5px; 150 | -webkit-border-radius: 5px; 151 | -khtml-border-radius: 5px; 152 | border-radius: 5px; 153 | padding-left: 2px; 154 | padding-right: 2px; 155 | } 156 | -------------------------------------------------------------------------------- /WoN1852-pages/001: -------------------------------------------------------------------------------- 1 | 2 | AN 3 | INQUIRY 4 | INTO 5 | THE NATURE AND CAUSES 6 | OF THE 7 | WEALTH OF NATIONS. 8 | 9 | 10 | 11 | INTRODUCTION AND PLAN OF THE WORK. 12 | 13 | 14 | The annual labour of every nation is the 15 | fund which originally supplies it with all the 16 | necessaries and conveniencies of life which it 17 | annually consumes, and which consist always 18 | either in the immediate produce of that labour, 19 | or in what is purchased with that produce from 20 | other nations. 21 | 22 | According, therefore, as this produce, or 23 | what is purchased with it, bears a greater or 24 | smaller proportion to the number of those who 25 | are to consume it, the nation will be better or 26 | worse supplied with all the necessaries and 27 | conveniencies for which it has occasion. 28 | 29 | But this proportion must in every nation 30 | be regulated by two different circumstances: 31 | first, by the skill, dexterity, and judgment 32 | with which its labour is generally applied; 33 | and, secondly, by the proportion between the 34 | number of those who are employed in useful 35 | labour, and that of those who are not so employed. 36 | Whatever be the soil, climate, or extent 37 | of territory of any particular nation, the 38 | abundance or scantiness of its annual supply 39 | must, in that particular situation, depend upon 40 | those two circumstances. 41 | 42 | The abundance or scantiness of this supply, 43 | too, seems to depend more upon the former of 44 | those two circumstances than upon the latter. 45 | Among the savage nations of hunters and fishers, 46 | every individual who is able to work is 47 | more or less employed in useful labour, and 48 | endeavours to provide, as well as he can, the 49 | necessaries and conveniencies of life, for himself, 50 | and such of his family or tribe as are 51 | either too old, or too young, or too infirm, to 52 | go a-hunting and fishing. Such nations, however, 53 | are so miserably poor, that, from mere 54 | want, they are frequently reduced, or at least 55 | think themselves reduced, to the necessity 56 | sometimes of directly destroying, and sometimes 57 | of abandoning their infants, their old 58 | people, and those afflicted with lingering diseases, 59 | to perish with hunger, or to be devoured 60 | by wild beasts. Among civilized and thriving 61 | nations, on the contrary, though a great 62 | number of people do not labour at all, many 63 | of whom consume the produce of ten times, 64 | frequently of a hundred times, more labour 65 | than the greater part of those who work; yet 66 | the produce of the whole labour of the society 67 | is so great, that all are often abundantly supplied; 68 | and a workman, even of the lowest and 69 | poorest order, if he is frugal and industrious, 70 | may enjoy a greater share of the necessaries 71 | and conveniencies of life than it is possible for 72 | any savage to acquire. 73 | 74 | The causes of this improvement in the productive 75 | powers of labour, and the order according 76 | to which its produce is naturally distributed 77 | among the different ranks and conditions 78 | of men in the society, make the subject 79 | of the first book of this Inquiry. 80 | 81 | Whatever be the actual state of the skill, 82 | dexterity, and judgment, with which labour is 83 | applied in any nation, the abundance or scantiness 84 | of its annual supply must depend, during 85 | the continuance of that state, upon the 86 | proportion between the number of those who 87 | are annually employed in useful labour, and 88 | that of those who are not so employed. The 89 | -------------------------------------------------------------------------------- /WoN1852-pages/286: -------------------------------------------------------------------------------- 1 | or, by extraordinary restraints, to force from 2 | a particular species of industry some share of 3 | the capital which would otherwise be employed 4 | in it, is, in reality subversive of the great 5 | purpose which it means to promote. It retards, 6 | instead of accelerating, the progress of 7 | the society towards real wealth and greatness; 8 | and diminishes, instead of increasing, the 9 | real value of the annual produce of its land 10 | and labour. 11 | 12 | All systems, either of preference or of restraint, 13 | therefore, being thus completely taken 14 | away, the obvious and simple system of natural 15 | liberty establishes itself of its own accord. 16 | Every man, as long as he does not 17 | violate the laws of justice, is left perfectly 18 | free to pursue his own interest his own way, 19 | and to bring both his industry and capital into 20 | competition with those of any other man, 21 | or order of men. The sovereign is completely 22 | discharged from a duty, in the attempting 23 | to perform which he must always be exposed 24 | to innumerable delusions, and for the proper 25 | performance of which, no human wisdom or 26 | knowledge could ever be sufficient; the duty 27 | of superintending the industry of private people, 28 | and of directing it towards the employments 29 | most suitable to the interest of the society. 30 | According to the system of natural 31 | liberty, the sovereign has only three duties to 32 | attend to; three duties of great importance, 33 | indeed, but plain and intelligible to common 34 | understandings: first, the duty of protecting 35 | the society from violence and invasion 36 | of other independent societies; secondly, the 37 | duty of protecting, as far as possible, every 38 | member of the society from the injustice or 39 | oppression of every other member of it, or 40 | the duty of establishing an exact administration 41 | of justice; and, thirdly, the duty of erecting 42 | and maintaining certain public works, 43 | and certain public institutions, which it can 44 | never be for the interest of any individual, 45 | or small number of individuals to erect and 46 | maintain; because the profit could never repay 47 | the expense to any individual, or small 48 | number of individuals, though it may frequently 49 | do much more than repay it to a 50 | great society. 51 | 52 | The proper performance of those several 53 | duties of the sovereign necessarily supposes a 54 | certain expense; and this expense again necessarily 55 | requires a certain revenue to support 56 | it. In the following book, therefore, I shall 57 | endeavour to explain, first, what are the necessary 58 | expenses of the sovereign or commonwealth; 59 | and which of those expenses ought 60 | to be defrayed by the general contribution of 61 | the whole society; and which of them, by that 62 | of some particular part only, or of some particular 63 | members of the society; secondly, 64 | what are the different methods in which the 65 | whole society may be made to contribute towards 66 | defraying the expenses incumbent on 67 | the whole society; and what are the principal 68 | advantages and inconveniences of each of 69 | those methods; and thirdly, what are the reasons 70 | and causes which have induced almost all 71 | modern governments to mortgage some part 72 | of this revenue, or to contract debts; and 73 | what have been the effects of those debts upon 74 | the real wealth, the annual produce of the 75 | land and labour of the society. The following 76 | book, therefore, will naturally be divided 77 | into three chapters. 78 | 79 | 80 | 81 | 82 | 83 | -------------------------------------------------------------------------------- /WoN1852-pages/172: -------------------------------------------------------------------------------- 1 | on in their own, and is much greater, on account 2 | of the great riches and extent of those 3 | colonies. But it has never introduced any 4 | considerable manufactures for distant sale into 5 | either of those countries, and the greater 6 | part of both still remains uncultivated. The 7 | foreign commerce of Portugal is of older 8 | standing than that of any great country in 9 | Europe, except Italy. 10 | 11 | Italy is the only great country of Europe 12 | which seems to have been cultivated and improved 13 | in every part, by means of foreign 14 | commerce and manufactures for distant sale. 15 | Before the invasion of Charles VIII., Italy, 16 | according to Guicciardini, was cultivated not 17 | less in the most mountainous and barren parts 18 | of the country, than in the plainest and most 19 | fertile. The advantageous situation of the 20 | country, and the great number of independent 21 | states which at that time subsisted in it, probably 22 | contributed not a little to this general 23 | cultivation. It is not impossible, too, notwithstanding 24 | this general expression of one of 25 | the most judicious and reserved of modern 26 | historians, that Italy was not at that time better 27 | cultivated than England is at present. 28 | 29 | The capital, however, that is acquired to 30 | any country by commerce and manufactures, 31 | is always a very precarious and uncertain possession, 32 | till some part of it has been secured 33 | and realized in the cultivation and improvement 34 | of its lands. A merchant, it has been 35 | said very properly, is not necessarily the citizen 36 | of any particular country. It is in a 37 | great measure indifferent to him from what 38 | place he carries on his trade; and a very trifling 39 | disgust will make him remove his capital, 40 | and, together with it, all the industry which 41 | it supports, from one country to another. No 42 | part of it can be said to belong to any particular 43 | country, till it has been spread, as it 44 | were, over the face of that country, either in 45 | buildings, or in the lasting improvement of 46 | lands. No vestige now remains of the great 47 | wealth said to have been possessed by the 48 | greater part of the Hanse Towns, except in 49 | the obscure histories of the thirteenth and 50 | fourteenth centuries. It is even uncertain 51 | where some of them were situated, or to 52 | what towns in Europe the Latin names given 53 | to some of them belong. But though the 54 | misfortunes of Italy, in the end of the fifteenth 55 | and beginning of the sixteenth centuries, 56 | greatly diminished the commerce and manufactures 57 | of the cities of Lombardy and Tuscany, 58 | those countries still continue to be among 59 | the most populous and best cultivated 60 | in Europe. The civil wars of Flanders, and 61 | the Spanish government which succeeded them, 62 | chased away the great commerce of Antwerp, 63 | Ghent, and Bruges. But Flanders still continues 64 | to be one of the richest, best cultivated, 65 | and most populous provinces of Europe. The 66 | ordinary revolutions of war and government 67 | easily dry up the sources of that wealth which 68 | arises from commerce only. That which arises 69 | from the more solid improvements of agriculture 70 | is much more durable, and cannot 71 | be destroyed but by those more violent convulsions 72 | occasioned by the depredations of 73 | hostile and barbarous nations continued for a 74 | century or two together; such as those that 75 | happened for some time before and after the 76 | fall of the Roman empire in the western provinces 77 | of Europe. 78 | 79 | 80 | 81 | 82 | 83 | -------------------------------------------------------------------------------- /WoN1852-pages/154: -------------------------------------------------------------------------------- 1 | ports of the Mediterranean, and some 2 | trade of the same kind carried on by British 3 | merchants between the different parts of India, 4 | make, perhaps, the principal branches of 5 | what is properly the carrying trade of Great 6 | Britain. 7 | 8 | The extent of the home trade, and of the 9 | capital which can be employed in it, is necessarily 10 | limited by the value of the surplus produce 11 | of all those distant places within the 12 | country which have occasion to exchange their 13 | respective productions with one another; that 14 | of the foreign trade of consumption, by the 15 | value of the surplus produce of the whole 16 | country, and of what can be purchased with 17 | it; that of the carrying trade, by the value of 18 | the surplus produce of all the different countries 19 | in the world. Its possible extent, therefore, 20 | is in a manner infinite in comparison of 21 | that of the other two, and is capable of absorbing 22 | the greatest capitals. 23 | 24 | The consideration of his own private profit 25 | is the sole motive which determines the owner 26 | of any capital to employ it either in agriculture, 27 | in manufactures, or in some particular 28 | branch of the wholesale or retail trade. The 29 | different quantities of productive labour which 30 | it may put into motion, and the different values 31 | which it may add to the annual produce 32 | of the land and labour of the society, according 33 | as it is employed in one or other of those 34 | different ways, never enter into his thoughts. 35 | In countries, therefore, where agriculture is 36 | the most profitable of all employments, and 37 | farming and improving the most direct roads 38 | to a splendid fortune, the capitals of individuals 39 | will naturally be employed in the manner 40 | most advantageous to the whole society. 41 | The profits of agriculture, however, seem to 42 | have no superiority over those of other employments 43 | in any part of Europe. Projectors, 44 | indeed, in every corner of it, have, within 45 | these few years, amused the public with most 46 | magnificent accounts of the profits to be made 47 | by the cultivation and improvement of land. 48 | Without entering into any particular discussion 49 | of their calculations, a very simple observation 50 | may satisfy us that the result of them 51 | must be false. We see, every day, the most 52 | splendid fortunes, that have been acquired in 53 | the course of a single life, by trade and manufactures, 54 | frequently from a very small capital, 55 | sometimes from no capital. A single instance 56 | of such a fortune, acquired by agriculture 57 | in the same time, and from such a capital, 58 | has not, perhaps, occurred in Europe, during 59 | the course of the present century. In all the 60 | great countries of Europe, however, much 61 | good land still remains uncultivated; and the 62 | greater part of what is cultivated, is far from 63 | being improved to the degree of which it is 64 | capable. Agriculture, therefore, is almost 65 | everywhere capable of absorbing a much greater 66 | capital than has ever yet been employed in 67 | it. What circumstances in the policy of Europe 68 | have given the trades which are carried 69 | on in towns so great an advantage over that 70 | which is carried on in the country, that private 71 | persons frequently find it more for their advantage 72 | to employ their capitals in the most 73 | distant carrying trades of Asia and America, 74 | than in the improvement and cultivation of 75 | the most fertile fields in their own neighbourhood, 76 | I shall endeavour to explain at full 77 | length in the two following books. 78 | 79 | 80 | 81 | 82 | 83 | -------------------------------------------------------------------------------- /WoN1852-pages/289: -------------------------------------------------------------------------------- 1 | BOOK V. 2 | 3 | OF THE REVENUE OF THE SOVEREIGN OR COMMONWEALTH. 4 | 5 | 6 | 7 | 8 | CHAP. I. 9 | 10 | OF THE EXPENSES OF THE SOVEREIGN OR COMMONWEALTH. 11 | 12 | 13 | PART I. 14 | 15 | Of the Expense of Defence. 16 | 17 | The first duty of the sovereign, that of protecting 18 | the society from the violence and 19 | invasion of other independent societies, can 20 | be performed only by means of a military 21 | force. But the expense both of preparing 22 | this military force in time of peace, and of 23 | employing it in time of war, is very different 24 | in the different states of society, in the different 25 | periods of improvement. 26 | 27 | Among nations of hunters, the lowest and 28 | rudest state of society, such as we find it 29 | among the native tribes of North America, 30 | every man is a warrior, as well as a hunter. 31 | When he goes to war, either to defend his 32 | society, or to revenge the injuries which have 33 | been done to it by other societies, he maintains 34 | himself by his own labour, in the same 35 | manner as when he lives at home. His society 36 | (for in this state of things there is properly 37 | neither sovereign nor commonwealth) 38 | is at no sort of expense, either to prepare 39 | him for the field, or to maintain him while he 40 | is in it. 41 | 42 | Among nations of shepherds, a more advanced 43 | state of society, such as we find it 44 | among the Tartar and Arabs, every man is, 45 | in the same manner a warrior. Such nations 46 | have commonly no fixed habitation, but live 47 | either in tents, or in a sort of covered wagons, 48 | which are easily transported from place 49 | to place. The whole tribe, or nation, changes 50 | its situation according to the different seasons 51 | of the year, as well as according to other 52 | accidents. When its herds and flocks have 53 | consumed the forage of one part of the 54 | country, it removes to another, and from 55 | that to a third. In the dry season, it comes 56 | down to the banks of the rivers; in the wet 57 | season, it retires to the upper country. 58 | When such a nation goes to war, the warriors 59 | will not trust their herds and flocks to 60 | the feeble defence of their old men, their 61 | women and children; and their old men, 62 | their women and children, will not be left 63 | behind without defence, and without subsistence. 64 | The whole nation, besides, being accustomed 65 | to a wandering life, even in time 66 | of peace, easily takes the field in time of war. 67 | Whether it marches as an army, or moves 68 | about as a company of herdsmen, the way of 69 | life is nearly the same, though the object 70 | proposed by it be very different. They all 71 | go to war together, therefore, and every one 72 | does as well as he can. Among the Tartars, 73 | even the women have been frequently known 74 | to engage in battle. If they conquer, whatever 75 | belongs to the hostile tribe is the recompence 76 | of the victory; but if they are vanquished, 77 | all is lost; and not only their herds 78 | and flocks, but their women and children, 79 | become the booty of the conqueror. Even 80 | the greater part of those who survive the action 81 | are obliged to submit to him for the sake 82 | of immediate subsistence. The rest are commonly 83 | dissipated and dispersed in the desert. 84 | 85 | The ordinary life, the ordinary exercise of 86 | a Tartar or Arab, prepare him sufficiently 87 | for war. Running, wrestling, cudgel-playing, 88 | throwing the javelin, drawing the bow, 89 | &c. are the common pastimes of those who 90 | live in the open air, and are all of them the 91 | images of war. When a Tartar or Arab 92 | actually goes to war, he is maintained by his 93 | own herds and flocks, which he carries with 94 | him, in the same manner as in peace. His 95 | chief or sovereign (for those nations have all 96 | -------------------------------------------------------------------------------- /general-stats.R: -------------------------------------------------------------------------------- 1 | require("gtools") 2 | 3 | headings <- read.csv("headings.csv") 4 | topics <- read.csv("topics.csv") 5 | pages <- read.csv("pages.csv") 6 | pages2 <- read.csv("pages2.csv") 7 | 8 | # Some basic histograms 9 | hist(headings$npages, ylab="Number of headings that reference this many pages", 10 | xlab="Number of distinct pages", main="Histogram of pages referenced per heading") 11 | hist(pages$nheadings, ylab="Number of pages referenced by this many headings", 12 | xlab="Number of index headings", main="Histogram of index headings per page") 13 | hist(pages$nmentions, ylab="Number of pages referenced by this many subheadings", 14 | xlab="Number of subheadings", main="Histogram of index subheadings per page") 15 | 16 | # # Same as the above, but limited to headings referring to at least a set number of pages. 17 | # hist(headings$npages[headings$npages >= 4], ylab="Number of headings that reference this many pages", 18 | # xlab="Number of distinct pages", main="Histogram of pages referenced per big heading") 19 | # hist(pages$nbigheadings, ylab="Number of pages referenced by this many headings", 20 | # xlab="Number of index headings", main="Histogram of big index headings per page") 21 | 22 | # Same again, but based on the topic model rather than the index. 23 | hist(topics$npages, ylab="Number of topics that reference this many pages", 24 | xlab="Number of distinct pages", main="Histogram of pages referenced per topic") 25 | hist(pages2$ntopics, ylab="Number of pages referenced by this many topics", 26 | xlab="Number of topics", main="Histogram of topics per page") 27 | 28 | # Simulation of the number of topics per page, with topic mixtures drawn 29 | # from a Dirichlet distribution with alpha = 50, and topics chosen based on 30 | # a fixed cutoff. 31 | # npages <- 50000 32 | # ntopics <- 106 33 | # alpha <- 50 34 | # cutoff <- 0.01229 35 | # topic_counts <- sapply(1:npages, 36 | # function (i) length(which(rdirichlet(1, rep(alpha, ntopics))[1,] 37 | # >= cutoff))) 38 | # hist(topic_counts, breaks=12, xlab=paste("Num topics with coef >=", cutoff), 39 | # main=c("Number of top topics in mixtures generated from a Dirichlet", 40 | # paste("distribution with alpha =", alpha, 41 | # "and total number of topics =", ntopics))) 42 | 43 | # # Same, but counting pages per topic. 44 | # npages <- 404 45 | # ntopics <- 436 46 | # cutoff <- 0.003145 47 | # x <- rdirichlet(npages, rep(alpha, ntopics)) 48 | # doc_counts <- sapply(1:ntopics, function (i) length(which(x[,i] >= cutoff))) 49 | # hist(doc_counts, breaks=10, xlab=paste("Num docs for which topic coef >=", cutoff), 50 | # main="Number of top documents per topic, based on Dirichlet distribution") 51 | # 52 | # # 436, 0.003145; 50, 0.0245 53 | # 54 | # 55 | # # Same two things, but with the alpha parameter skewed to match the relative 56 | # # commonness/rarity of topics that was observed in the index. 57 | # npages <- 50000 58 | # ntopics <- 436 59 | # alpha <- headings$npages * 5 / max(headings$npages) * .5 + 5 * .5 60 | # cutoff <- 0.007 61 | # topic_counts <- sapply(1:npages, 62 | # function (i) length(which(rdirichlet(1, alpha)[1,] 63 | # >= cutoff))) 64 | # hist(topic_counts, breaks=10, xlab=paste("Num topics with coef >=", cutoff), 65 | # main=c("Number of top topics in mixtures generated from a Dirichlet", 66 | # paste("distribution with skewed alpha", 67 | # "and total number of topics =", ntopics))) 68 | # 69 | # npages <- 404 70 | # ntopics <- 436 71 | # cutoff <- 0.007 72 | # x <- rdirichlet(npages, alpha) 73 | # doc_counts <- sapply(1:ntopics, function (i) length(which(x[,i] >= cutoff))) 74 | # hist(doc_counts, breaks=10, xlab=paste("Num docs for which topic coef >=", cutoff), 75 | # main="Number of top documents per topic, based on Dirichlet distribution") 76 | # 77 | -------------------------------------------------------------------------------- /WoN1852-pages/173: -------------------------------------------------------------------------------- 1 | BOOK IV. 2 | 3 | OF SYSTEMS OF POLITICAL ECONOMY. 4 | 5 | 6 | 7 | 8 | INTRODUCTION. 9 | 10 | 11 | Political economy, considered as a branch 12 | of the science of a statesman or legislator, proposes 13 | two distinct objects; first, to provide a 14 | plentiful revenue or subsistence for the people, 15 | or, more properly, to enable them to provide 16 | such a revenue or subsistence for themselves; 17 | and secondly, to supply the state or 18 | commonwealth with a revenue sufficient for 19 | the public services. It proposes to enrich 20 | both the people and the sovereign. 21 | 22 | The different progress of opulence in different 23 | ages and nations, has given occasion to 24 | two different systems of political economy, 25 | with regard to enriching the people. The one 26 | may be called the system of commerce, the 27 | other that of agriculture. I shall endeavour 28 | to explain both as fully and distinctly as I can, 29 | and shall begin with the system of commerce. 30 | It is the modern system, and is best understood 31 | in our own country and in our own 32 | times. 33 | 34 | 35 | 36 | 37 | CHAP. I. 38 | 39 | OF THE PRINCIPLE OF THE COMMERCIAL OR 40 | MERCANTILE SYSTEM. 41 | 42 | 43 | That wealth consists in money, or in gold 44 | and silver, is a popular notion which naturally 45 | arises from the double function of money, as 46 | the instrument of commerce, and as the measure 47 | of value. In consequence of its being 48 | the instrument of commerce, when we have 49 | money we can more readily obtain whatever 50 | else we have occasion for, than by means of 51 | any other commodity. The great affair, we 52 | always find, is to get money. When that is 53 | obtained, there is no difficulty in making any 54 | subsequent purchase. In consequence of its 55 | being the measure of value, we estimate that 56 | of all other commodities by the quantity of 57 | money which they will exchange for. We 58 | say of a rich man, that he is worth a great 59 | deal, and of a poor man, that he is worth very 60 | little money. A frugal man, or a man eager 61 | to be rich, is said to love money; and a careless, 62 | a generous, or a profuse man, is said to 63 | be indifferent about it. To grow rich is to 64 | get money; and wealth and money, in short, 65 | are, in common language, considered as in 66 | every respect synonymous. 67 | 68 | A rich country, in the same manner as a 69 | rich man, is supposed to be a country abounding 70 | in money; and to heap up gold and silver 71 | in any country is supposed to be the readiest 72 | way to enrich it. For some time after the 73 | discovery of America, the first inquiry of the 74 | Spaniards, when they arrived upon any unknown 75 | coast, used to be, if there was any gold 76 | or silver to be found in the neighbourhood? 77 | By the information which they received, they 78 | judged whether it was worth while to make a 79 | settlement there, or if the country was worth 80 | the conquering. Plano Carpino, a monk sent 81 | ambassador from the king of France to one of 82 | the sons of the famous Gengis Khan, says, 83 | that the Tartars used frequently to ask him, if 84 | there was plenty of sheep and oxen in the 85 | kingdom of France? Their inquiry had the 86 | same object with that of the Spaniards. They 87 | wanted to know if the country was rich enough 88 | to be worth the conquering. Among the Tartars, 89 | as among all other nations of shepherds, 90 | who are generally ignorant of the use of money, 91 | cattle are the instruments of commerce 92 | and the measures of value. Wealth, therefore, 93 | according to them, consisted in cattle, as, 94 | according to the Spaniards, it consisted in gold 95 | and silver. Of the two, the Tartar notion, 96 | perhaps, was the nearest to the truth. 97 | 98 | Mr Locke remarks a distinction between 99 | money and other moveable goods. All other 100 | moveable goods, he says, are of so consumable 101 | a nature, that the wealth which consists in 102 | them cannot be much depended on; and a 103 | nation which abounds in them one year may, 104 | -------------------------------------------------------------------------------- /WoN1852-pages/111: -------------------------------------------------------------------------------- 1 | BOOK II. 2 | 3 | 4 | OF THE NATURE, ACCUMULATION, AND EMPLOYMENT OF STOCK. 5 | 6 | 7 | 8 | 9 | INTRODUCTION. 10 | 11 | 12 | In that rude state of society, in which there 13 | is no division of labour, in which exchanges 14 | are seldom made, and in which every man 15 | provides every thing for himself, it is not necessary 16 | that any stock should be accumulated, 17 | or stored up before-hand, in order to carry on 18 | the business of the society. Every man endeavours 19 | to supply, by his own industry, his 20 | own occasional wants, as they occur. When 21 | he is hungry, he goes to the forest to hunt; 22 | when his coat is worn out, he clothes himself 23 | with the skin of the first large animal he 24 | kills; and when his hut begins to go to ruin, 25 | he repairs it, as well as he can, with the trees 26 | and the turf that are nearest it. 27 | 28 | But when the division of labour has once 29 | been thoroughly introduced, the produce of a 30 | man's own labour can supply but a very small 31 | part of his occasional wants. The far greater 32 | part of them are supplied by the produce of 33 | other men's labour, which he purchases with 34 | the produce, or, what is the same thing, with 35 | the price of the produce, of his own. But 36 | this purchase cannot be made till such time 37 | as the produce of his own labour has not only 38 | been completed, but sold. A stock of goods 39 | of different kinds, therefore, must be stored 40 | up somewhere, sufficient to maintain him, and 41 | to supply him with the materials and tools of 42 | his work, till such time at least as both these 43 | events can be brought about. A weaver cannot 44 | apply himself entirely to his peculiar business, 45 | unless there is before-hand stored up 46 | somewhere, either in his own possession, or 47 | in that of some other person, a stock sufficient 48 | to maintain him, and to supply him with the 49 | materials and tools of his work, till he has not 50 | only completed, but sold his web. This accumulation 51 | must evidently be previous to his 52 | applying his industry for so long a time to 53 | such a peculiar business. 54 | 55 | As the accumulation of stock must, in the 56 | nature of things, be previous to the division 57 | of labour, so labour can be more and more 58 | subdivided in proportion only as stock is previously 59 | more and more accumulated. The 60 | quantity of materials which the same number 61 | of people can work up, increases in a great 62 | proportion as labour comes to be more and 63 | more subdivided; and as the operations of 64 | each workman are gradually reduced to a 65 | greater degree of simplicity, a variety of new 66 | machines come to be invented for facilitating 67 | and abridging these operations. As the division 68 | of labour advances, therefore, in order 69 | to give constant employment to an equal number 70 | of workman, an equal stock of provisions, 71 | and a greater stock of materials and tools 72 | than what would have been necessary in a 73 | ruder state of things, must be accumulated 74 | before-hand. But the number of workmen in 75 | every branch of business generally increases 76 | with the division of labour in that branch; or 77 | rather it is the increase of their number which 78 | enables them to class and subdivide themselves 79 | in this manner. 80 | 81 | As the accumulation of stock is previously 82 | necessary for carrying on this great improvement 83 | in the productive powers of labour, so 84 | that accumulation naturally leads to this improvement. 85 | The person who employs his stock 86 | in maintaining labour, necessarily wishes to 87 | employ it in such a manner as to produce as 88 | great a quantity of work as possible. He endeavours, 89 | therefore, both to make among his 90 | workmen the most proper distribution of employment, 91 | and to furnish them with the best 92 | machines which he can either invent or afford 93 | to purchase. His abilities, in both these respects, 94 | are generally in proportion to the extent 95 | of his stock, or to the number of people 96 | whom it can employ. The quantity of industry, 97 | therefore, not only increases in every 98 | country with the increase of the stock which 99 | employs it, but, in consequence of that increase, 100 | the same quantity of industry produces 101 | a much greater quantity of work. 102 | 103 | Such are in general the effects of the increase 104 | of stock upon industry and its productive 105 | powers. 106 | -------------------------------------------------------------------------------- /WoN1852-pages/155: -------------------------------------------------------------------------------- 1 | BOOK III. 2 | 3 | OF THE DIFFERENT PROGRESS OF OPULENCE IN DIFFERENT NATIONS 4 | 5 | 6 | 7 | 8 | CHAP. I. 9 | 10 | OF THE NATURAL PROGRESS OF OPULENCE. 11 | 12 | 13 | The great commerce of every civilized society 14 | is that carried on between the inhabitants of 15 | the town and those of the country. It consists 16 | in the exchange of rude for manufactured 17 | produce, either immediately, or by the intervention 18 | of money, or of some sort of paper 19 | which represents money. The country supplies 20 | the town with the means of subsistence 21 | and the materials of manufacture. The town 22 | repays this supply, by sending back a part of 23 | the manufactured produce to the inhabitants 24 | of the country. The town, in which there 25 | neither is nor can be any reproduction of substances, 26 | may very properly be said to gain its 27 | whole wealth and subsistence from the country. 28 | We must not, however, upon this account, 29 | imagine that the gain of the town is the 30 | loss of the country. The gains of both are 31 | mutual and reciprocal, and the division of labour 32 | is in this, as in all other cases, advantageous 33 | to all the different persons employed in 34 | the various occupations into which it is subdivided. 35 | The inhabitants of the country purchase 36 | of the town a greater quantity of manufactured 37 | goods with the produce of a much 38 | smaller quantity of their own labour, than 39 | they must have employed had they attempted 40 | to prepare them themselves. The town affords 41 | a market for the surplus produce of the country, 42 | or what is over and above the maintenance 43 | of the cultivators; and it is there that the inhabitants 44 | of the country exchange it for something 45 | else which is in demand among them. 46 | The greater the number and revenue of the 47 | inhabitants of the town, the more extensive is 48 | the market which it affords to those of the 49 | country; and the more extensive that market, 50 | it is always the more advantageous to a great 51 | number. The corn which grows within a mile 52 | of the town, sells there for the same price with 53 | that which comes from twenty miles distance. 54 | But the price of the latter must, generally, 55 | not only pay the expense of raising it and 56 | bringing it to market, but afford, too, the ordinary 57 | profits of agriculture to the farmer. 58 | The proprietors and cultivators of the country, 59 | therefore, which lies in the neighbourhood 60 | of the town, over and above the ordinary profits 61 | of agriculture, gain, in the price of what 62 | they sell, the whole value of the carriage of 63 | the like produce that is brought from more 64 | distant parts; and they save, besides, the whole 65 | value of this carriage in the price of what they 66 | buy. Compare the cultivation of the lands in 67 | the neighbourhood of any considerable town, 68 | with that of those which lie at some distance 69 | from it, and you will easily satisfy yourself 70 | how much the country is benefited by the commerce 71 | of the town. Among all the absurd 72 | speculations that have been propagated concerning 73 | the balance of trade, it has never been 74 | pretended that either the country loses by its 75 | commerce with the town, or the town by that 76 | with the country which maintains it. 77 | 78 | As subsistence is, in the nature of things, 79 | prior to conveniency and luxury, so the industry 80 | which procures the former, must necessarily 81 | be prior to that which ministers to the 82 | latter. The cultivation and improvement of 83 | the country, therefore, which affords subsistence, 84 | must, necessarily, be prior to the increase 85 | of the town, which furnishes only the 86 | means of conveniency and luxury. It is the 87 | surplus produce of the country only, or what 88 | is over and above the maintenance of the cultivators, 89 | that constitutes the subsistence of the 90 | town, which can therefore increase only with 91 | the increase of the surplus produce. The 92 | town, indeed, may not always derive its whole 93 | subsistence from the country in its neighbourhood, 94 | or even from the territory to which it 95 | belongs, but from very distant countries; and 96 | this, though it forms no exception from the 97 | general rule, has occasioned considerable variations 98 | in the progress of opulence in different 99 | ages and nations. 100 | 101 | That order of things which necessity imposes, 102 | in general, though not in every particular 103 | -------------------------------------------------------------------------------- /create-network.py: -------------------------------------------------------------------------------- 1 | # Creates a network representing the paths that a reader could take by looking up words 2 | # that appear in the index in the index. Also outputs a list of the subheadings that 3 | # create this sort of path between each pair of subheadings. 4 | 5 | import collections 6 | import pickle 7 | import re 8 | from nltk import WordNetLemmatizer 9 | 10 | wnl = WordNetLemmatizer() 11 | 12 | index = pickle.load(open('index.pkl')) 13 | 14 | # Maps lemmatized/lowercased headings to the headings as they appear in the index. 15 | headings = {} 16 | for heading in index: 17 | heading_words = re.split('[^\w]+', heading.lower()) 18 | heading_words = [wnl.lemmatize(word) for word in heading_words] 19 | headings[' '.join(heading_words)] = heading 20 | 21 | edges = {} # Maps edge pairs to sets of the subheadings that produce them. 22 | 23 | for heading in index: 24 | subheadings = set() 25 | for subheading, n in index[heading]: 26 | subheading_words = re.split('[^\w]+', subheading.lower()) 27 | subheading_words = [wnl.lemmatize(word) for word in subheading_words] 28 | headings_matched = set() # Only match each heading once per subheading 29 | for i in xrange(len(subheading_words)): 30 | for j in xrange(i+1, len(subheading_words)+1): 31 | word_seq = ' '.join(subheading_words[i:j]) 32 | if word_seq in headings: 33 | edges.setdefault((heading, headings[word_seq]), []) \ 34 | .append((subheading, n)) 35 | 36 | f = open('index_network.csv', 'w') 37 | f.write('Source,Target,Weight\n') 38 | total_mentions = 0 39 | for a, b in edges: 40 | if a == b: 41 | continue 42 | nmentions = len(set(subheading for subheading, n in edges[(a, b)])) 43 | total_mentions += nmentions 44 | f.write(a + ',' + b + ',' + str(nmentions) + '\n') 45 | print total_mentions 46 | 47 | f = open('index_network_mutual.csv', 'w') 48 | f.write('Source,Target,Weight\n') 49 | total_mentions = 0 50 | for a, b in edges: 51 | if a == b: 52 | continue 53 | if (b, a) not in edges: 54 | continue 55 | nmentions = len(set(subheading for subheading, n in edges[(a, b)])) 56 | total_mentions += nmentions 57 | f.write(a + ',' + b + ',' + str(nmentions) + '\n') 58 | print total_mentions 59 | 60 | f = open('index-paths.txt', 'w') 61 | for a, b in sorted(edges): 62 | if a == b: 63 | continue 64 | if a > b and (b, a) in edges: 65 | continue 66 | f.write('==== ' + a + ' <-> ' + b + '\n\n') 67 | f.write(a + '\n') 68 | subheadings = set(subheading for subheading, n in edges[(a, b)]) 69 | for subheading in subheadings: 70 | f.write(' ' + subheading + '\n') 71 | if (b, a) in edges: 72 | f.write('\n' + b + '\n') 73 | subheadings = set(subheading for subheading, n in edges[(b, a)]) 74 | for subheading in subheadings: 75 | f.write(' ' + subheading + '\n') 76 | f.write('\n\n') 77 | 78 | f = open('index-paths-mutual.txt', 'w') 79 | for a, b in sorted(edges): 80 | if a == b: 81 | continue 82 | if (b, a) not in edges: 83 | continue 84 | if a > b: 85 | continue 86 | f.write('==== ' + a + ' <-> ' + b + '\n\n') 87 | f.write(a + '\n') 88 | subheadings = set(subheading for subheading, n in edges[(a, b)]) 89 | for subheading in subheadings: 90 | f.write(' ' + subheading + '\n') 91 | if (b, a) in edges: 92 | f.write('\n' + b + '\n') 93 | subheadings = set(subheading for subheading, n in edges[(b, a)]) 94 | for subheading in subheadings: 95 | f.write(' ' + subheading + '\n') 96 | f.write('\n\n') 97 | 98 | f = open('index-path-pairs.txt', 'w') 99 | npairs = 0 100 | for a, b in sorted(edges): 101 | if a == b: 102 | continue 103 | if (b, a) not in edges: 104 | continue 105 | if a > b: 106 | continue 107 | subheadings_b = collections.deque(edges[(b, a)]) 108 | for subheading, n in edges[(a, b)]: 109 | while subheadings_b and subheadings_b[0][1] < n: 110 | subheadings_b.popleft() 111 | if not subheadings_b: 112 | break 113 | for i in xrange(len(subheadings_b)): 114 | if subheadings_b[i][1] == n: 115 | f.write(a + ', ' + subheading + '\n') 116 | f.write(b + ', ' + subheadings_b[i][0] + '\n\n') 117 | npairs += 1 118 | print npairs 119 | -------------------------------------------------------------------------------- /parse-index.py: -------------------------------------------------------------------------------- 1 | # Parses the HTML index from Project Gutenberg, pickles it, produces some 2 | # basic stats, and exports data to CSV files for further analysis in R. 3 | 4 | import pickle 5 | import re 6 | 7 | f = open('WoN1852-index.html', 'r') 8 | 9 | def strip_html_tags(s): 10 | s = re.sub('<[^>]*>', '', s) 11 | s = re.sub('<[^>]*$', '', s) 12 | s = re.sub('^[^>]*>', '', s) 13 | s = re.sub(' ', ' ', s) 14 | return s 15 | 16 | index = {} 17 | pagenum = None 18 | def record_line(heading, line): 19 | global pagenum 20 | subheading = line 21 | if subheading.endswith(', ib'): 22 | subheading = subheading[:-4] 23 | index.setdefault(heading, []) \ 24 | .append((subheading, pagenum)) 25 | elif subheading.endswith('. ib'): 26 | subheading = subheading[:-3] 27 | index.setdefault(heading, []) \ 28 | .append((subheading, pagenum)) 29 | else: 30 | if ', ib.' in subheading: 31 | subheading, rest = subheading.split(', ib.') 32 | index.setdefault(heading, []) \ 33 | .append((subheading, pagenum)) 34 | subheading += rest 35 | if '. ib.' in subheading: 36 | subheading, rest = subheading.split(' ib.') 37 | index.setdefault(heading, []) \ 38 | .append((subheading, pagenum)) 39 | subheading += rest 40 | l = subheading.split(', [^s]*', '', line) 51 | if line.startswith(''): 52 | line = line[3:-6] 53 | line = re.sub('\\. See [^.]+', '', line) 54 | line = line.replace(' and ', ' and ') 55 | line = line.replace(', Append', '') 56 | try: 57 | heading, line = line.split('') 58 | except: 59 | print line 60 | if line.startswith(', '): 61 | line = line[2:] 62 | if line.startswith(' '): 63 | line = line[1:] 64 | record_line(heading, line) 65 | elif line.startswith(''): 66 | line = line[32:-13] 67 | line = line[0].lower() + line[1:] 68 | record_line(heading, line) 69 | 70 | pages = {} 71 | for heading in index: 72 | for subheading, page in index[heading]: 73 | pages.setdefault(page, []).append((heading, subheading)) 74 | 75 | nheadings = len(index) 76 | avg_subheadings_per_heading = 0 77 | avg_pages_per_heading = 0 78 | f = open('headings.csv', 'w') 79 | f.write('i,nsubheadings,npages\n') 80 | for i, heading in enumerate(index): 81 | nsubheadings = len(index[heading]) 82 | referenced_pages = set(s[1] for s in index[heading]) 83 | npages = len(referenced_pages) 84 | f.write(','.join(str(x) for x in [i+1, nsubheadings, npages]) + '\n') 85 | avg_subheadings_per_heading += nsubheadings 86 | avg_pages_per_heading += npages 87 | avg_subheadings_per_heading /= float(nheadings) 88 | avg_pages_per_heading /= float(nheadings) 89 | 90 | print nheadings 91 | print avg_subheadings_per_heading 92 | print avg_pages_per_heading 93 | 94 | npages_referenced = len(pages) 95 | for i in xrange(1, 404+1): 96 | pages.setdefault(i, set()) 97 | npages = len(pages) 98 | avg_mentions_per_page = 0 99 | avg_headings_per_page = 0 100 | f = open('pages.csv', 'w') 101 | f.write('i,nmentions,nheadings,nbigheadings\n') 102 | for i, page in enumerate(pages): 103 | nmentions = len(pages[page]) 104 | nheadings = len(set(s[0] for s in pages[page])) 105 | nbigheadings = len(set(s[0] for s in pages[page] 106 | if len(set(t[1] for t in index[s[0]])) 107 | > 4)) 108 | f.write(','.join(str(x) for x in [i+1, nmentions, nheadings, 109 | nbigheadings]) + '\n') 110 | avg_mentions_per_page += nmentions 111 | avg_headings_per_page += nheadings 112 | avg_mentions_per_page /= float(npages) 113 | avg_headings_per_page /= float(npages) 114 | 115 | print npages_referenced, '/', npages 116 | print avg_mentions_per_page 117 | print avg_headings_per_page 118 | 119 | f = open('index.pkl', 'w') 120 | pickle.dump(index, f) 121 | -------------------------------------------------------------------------------- /WoN1852-pages/127: -------------------------------------------------------------------------------- 1 | draught. This commission being repeated 2 | more than six times in the year, whatever money 3 | A might raise by this expedient might necessarily 4 | have cost him something more than 5 | eight per cent in the year and sometimes a 6 | great deal more, when either the price of the 7 | commission happened to rise, or when he was 8 | obliged to pay compound interest upon the 9 | interest and commission of former bills. This 10 | practice was called raising money by circulation. 11 | 12 | In a country where the ordinary profits of 13 | stock, in the greater part of mercantile projects, 14 | are supposed to run between six and ten per 15 | cent. it must have been a very fortunate speculation, 16 | of which the returns could not only 17 | repay the enormous expense at which the money 18 | was thus borrowed for carrying it on, but 19 | afford, besides, a good surplus profit to the 20 | projector. Many vast and extensive projects, 21 | however, were undertaken, and for several 22 | years carried on, without any other fund to 23 | support them besides what was raised at this 24 | enormous expense. The projectors, no doubt, 25 | had in their golden dreams the most distinct 26 | vision of this great profit. Upon their awakening, 27 | however, either at the end of their projects, 28 | or when they were no longer able to 29 | carry them on, they very seldom, I believe, 30 | had the good fortune to find it.[28] 31 | 32 | The bills which A in Edinburgh drew upon 33 | B in London, he regularly discounted two 34 | months before they were due, with some bank 35 | or banker in Edinburgh; and the bills which 36 | B in London redrew upon A in Edinburgh, 37 | he as regularly discounted, either with the 38 | Bank of England, or with some other banker 39 | in London. Whatever was advanced upon 40 | such circulating bills was in Edinburgh advanced 41 | in the paper of the Scotch banks; and 42 | in London, when they were discounted at the 43 | Bank of England in the paper of that bank. 44 | Though the bills upon which this paper had 45 | been advanced were all of them repaid in their 46 | turn as soon as they became due, yet the value 47 | which had been really advanced upon the last 48 | bill was never really returned to the banks 49 | which advanced it, because, before each bill 50 | became due, another bill was always drawn 51 | to somewhat a greater amount than the bill 52 | which was soon to be paid: and the discounting 53 | of this other bill was essentially necessary 54 | towards the payment of that which was soon 55 | to be due. This payment, therefore, was altogether 56 | fictitious. The stream which, by means 57 | of those circulating bills of exchange, had once 58 | been made to run out from the coffers of the 59 | banks, was never replaced by any stream which 60 | really run into them. 61 | 62 | The paper which was issued upon those circulating 63 | bills of exchange amounted, upon 64 | many occasions, to the whole fund destined 65 | for carrying on some vast and extensive project 66 | of agriculture, commerce, or manufactures; 67 | and not merely to that part of it which, 68 | had there been no paper money, the projector 69 | would have been obliged to keep by him unemployed, 70 | and in ready money, for answering 71 | occasional demands. The greater part of this 72 | paper was, consequently, over and above the 73 | value of the gold and silver which would have 74 | circulated in the country, had there been no 75 | paper money. It was over and above, therefore, 76 | what the circulation of the country could 77 | easily absorb and employ, and upon that account, 78 | immediately returned upon the banks, 79 | in order to be exchanged for gold and silver, 80 | which they were to find as they could. It 81 | was a capital which those projectors had very 82 | artfully contrived to draw from those banks, 83 | not only without their knowledge or deliberate 84 | consent, but for some time, perhaps, without 85 | their having the most distant suspicion 86 | that they had really advanced it. 87 | 88 | When two people, who are continually 89 | drawing and redrawing upon one another, 90 | discount their bills always with the same banker, 91 | he must immediately discover what they 92 | are about, and see clearly that they are trading, 93 | not with any capital of their own, but 94 | with the capital which he advances to them. 95 | But this discovery is not altogether so easy 96 | when they discount their bills sometimes with 97 | one banker, and sometimes with another, and 98 | when the two same persons do not constantly 99 | draw and redraw upon one another, but occasionally 100 | run the round of a great circle of projectors, 101 | who find it for their interest to assist 102 | one another in this method of raising money 103 | -------------------------------------------------------------------------------- /WoN1852-pages/002: -------------------------------------------------------------------------------- 1 | number of useful and productive labourers, it 2 | will hereafter appear, is everywhere in proportion 3 | to the quantity of capital stock which is 4 | employed in setting them to work, and to the 5 | particular way in which it is so employed. 6 | The second book, therefore, treats of the nature 7 | of capital stock, of the manner in which 8 | it is gradually accumulated, and of the different 9 | quantities of labour which it puts into motion, 10 | according to the different ways in which 11 | it is employed. 12 | 13 | Nations tolerably well advanced as to skill, 14 | dexterity, and judgment, in the application of 15 | labour, have followed very different plans in 16 | the general conduct or direction of it; and 17 | those plans have not all been equally favourable 18 | to the greatness of its produce. The policy 19 | of some nations has given extraordinary 20 | encouragement to the industry of the country; 21 | that of others to the industry of towns. Scarce 22 | any nation has dealt equally and impartially 23 | with every sort of industry. Since the downfall 24 | of the Roman empire, the policy of Europe 25 | has been more favourable to arts, manufactures, 26 | and commerce, the industry of towns, 27 | than to agriculture, the industry of the country. 28 | The circumstances which seem to have 29 | introduced and established this policy are explained 30 | in the third book. 31 | 32 | Though those different plans were, perhaps, 33 | first introduced by the private interests and 34 | prejudices of particular orders of men, without 35 | any regard to, or foresight of, their consequences 36 | upon the general welfare of the society; 37 | yet they have given occasion to very 38 | different theories of political economy; of 39 | which some magnify the importance of that 40 | industry which is carried on in towns, others 41 | of that which is carried on in the country. 42 | Those theories have had a considerable influence, 43 | not only upon the opinions of men of 44 | learning, but upon the public conduct of 45 | princes and sovereign states. I have endeavoured, 46 | in the fourth book, to explain as fully 47 | and distinctly as I can those different theories, 48 | and the principal effects which they have produced 49 | in different ages and nations. 50 | 51 | To explain in what has consisted the revenue 52 | of the great body of the people, or what 53 | has been the nature of those funds, which, in 54 | different ages and nations, have supplied their 55 | annual consumption, is the object of these 56 | four first books. The fifth and last book 57 | treats of the revenue of the sovereign, or commonwealth. 58 | In this book I have endeavoured 59 | to shew, first, what are the necessary expenses 60 | of the sovereign, or commonwealth; which of 61 | those expenses ought to be defrayed by the 62 | general contribution of the whole society, and 63 | which of them, by that of some particular part 64 | only, or of some particular members of it: 65 | secondly, what are the different methods in 66 | which the whole society may be made to contribute 67 | towards defraying the expenses incumbent 68 | on the whole society, and what are the 69 | principal advantages and inconveniencies of 70 | each of those methods; and, thirdly and lastly, 71 | what are the reasons and causes which have 72 | induced almost all modern governments to 73 | mortgage some part of this revenue, or to 74 | contract debts; and what have been the effects 75 | of those debts upon the real wealth, the 76 | annual produce of the land and labour of the 77 | society. 78 | 79 | 80 | 81 | 82 | 83 | BOOK I. 84 | 85 | OF THE CAUSES OF IMPROVEMENT IN THE PRODUCTIVE POWERS OF LABOUR, 86 | AND OF THE ORDER ACCORDING TO WHICH ITS PRODUCE IS NATURALLY 87 | DISTRIBUTED AMONG THE DIFFERENT RANKS OF THE PEOPLE. 88 | 89 | 90 | 91 | CHAP. I. 92 | 93 | OF THE DIVISION OF LABOUR. 94 | 95 | 96 | The greatest improvements in the productive 97 | powers of labour, and the greater part of the 98 | skill, dexterity, and judgment, with which it 99 | is anywhere directed, or applied, seem to have 100 | been the effects of the division of labour. 101 | 102 | The effects of the division of labour, in 103 | the general business of society, will be more 104 | easily understood, by considering in what manner 105 | it operates in some particular manufactures. 106 | It is commonly supposed to be carried 107 | furthest in some very trifling ones; not 108 | perhaps that it really is carried further in them 109 | than in others of more importance: but in 110 | those trifling manufactures which are destined 111 | to supply the small wants of but a small number 112 | of people, the whole number of workmen 113 | must necessarily be small; and those employed 114 | in every different branch of the work can often 115 | -------------------------------------------------------------------------------- /networkedcorpus/res/index.css: -------------------------------------------------------------------------------- 1 | body { 2 | background-color: #eee; 3 | margin: 0; 4 | } 5 | 6 | hr { 7 | border: 0; 8 | margin-left: 10px; 9 | margin-right: 10px; 10 | height: 1px; 11 | background-color: lightGrey; 12 | } 13 | 14 | td { 15 | padding: 0px; 16 | } 17 | 18 | #header { 19 | height: 45px; 20 | width: 100%; 21 | background-color: white; 22 | border: 1px solid lightGrey; 23 | padding: 5px; 24 | z-index: 1; 25 | text-align: center; 26 | position: fixed; 27 | margin: 0; 28 | } 29 | 30 | #text-table { 31 | position: relative; 32 | top: 65px; 33 | margin-left: auto; 34 | margin-right: auto; 35 | border-collapse: collapse; 36 | } 37 | 38 | .index-entry { 39 | white-space: nowrap; 40 | padding-left: 10px; 41 | padding-right: 10px; 42 | padding-bottom: 10px; 43 | background-color: white; 44 | border-left: 1px solid lightGrey; 45 | border-right: 1px solid lightGrey; 46 | } 47 | 48 | .blank-index-entry { 49 | white-space: nowrap; 50 | padding-left: 10px; 51 | padding-right: 10px; 52 | padding-bottom: 10px; 53 | border-left: 2px solid #eee; /* Workaround for an apparent Chrome bug. */ 54 | border-right: 2px solid #eee; 55 | } 56 | 57 | .index-heading { 58 | white-space: nowrap; 59 | padding-left: 10px; 60 | padding-right: 10px; 61 | padding-top: 20px; 62 | background-color: white; 63 | border-left: 1px solid lightGrey; 64 | border-right: 1px solid lightGrey; 65 | } 66 | 67 | .index-subheading { 68 | padding-left: 30px; 69 | padding-right: 10px; 70 | padding-top: 5px; 71 | background-color: white; 72 | border-left: 1px solid lightGrey; 73 | border-right: 1px solid lightGrey; 74 | width: 600px; 75 | } 76 | 77 | .matched-heading { 78 | white-space: nowrap; 79 | padding-left: 10px; 80 | padding-right: 10px; 81 | padding-bottom: 10px; 82 | background-color: white; 83 | border-left: 1px solid lightGrey; 84 | border-right: 1px solid lightGrey; 85 | text-align: right; 86 | } 87 | 88 | #match-cell { 89 | border: 0; 90 | } 91 | 92 | .first-row .index-entry { 93 | border-top: 1px solid lightGrey; 94 | padding-top: 10px; 95 | } 96 | 97 | .first-row .index-heading { 98 | border-top: 1px solid lightGrey; 99 | padding-top: 10px; 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145 | padding-left: 10px; 146 | padding-right: 10px; 147 | background-color: white; 148 | border-left: 1px solid lightGrey; 149 | border-right: 1px solid lightGrey; 150 | text-align: center; 151 | } 152 | 153 | .toc-chapter-title { 154 | padding-top: 10px; 155 | padding-left: 10px; 156 | padding-right: 10px; 157 | background-color: white; 158 | border-left: 1px solid lightGrey; 159 | border-right: 0; 160 | text-align: left; 161 | } 162 | 163 | .toc-page-number { 164 | padding-top: 10px; 165 | padding-left: 10px; 166 | padding-right: 10px; 167 | background-color: white; 168 | border-left: 0; 169 | border-right: 1px solid lightGrey; 170 | text-align: right; 171 | } 172 | 173 | .i2 { 174 | padding-top: 10px; 175 | padding-left: 30px; 176 | padding-right: 10px; 177 | background-color: white; 178 | border-left: 1px solid lightGrey; 179 | border-right: 0; 180 | text-align: left; 181 | } 182 | 183 | .i4 { 184 | padding-top: 10px; 185 | padding-left: 50px; 186 | padding-right: 10px; 187 | background-color: white; 188 | border-left: 1px solid lightGrey; 189 | border-right: 0; 190 | text-align: left; 191 | } 192 | 193 | .smcap { 194 | font-variant: small-caps; 195 | } -------------------------------------------------------------------------------- /WoN1852-pages/377: -------------------------------------------------------------------------------- 1 | 2 | 3 | 4 | 5 | L.s.d. 6 | In 1772, the old malt tax produced722,0231111 7 | The additional356,77679¾ 8 | In 1773, the old tax produced561,62737½ 9 | The additional278,650153¾ 10 | In 1774, the old tax produced624,614175¾ 11 | The additional310,74528½ 12 | In 1775, the old tax produced657,35708¼ 13 | The additional323,785126¼ 14 | —————————— 15 | 4)3,835,580120¾ 16 | —————————— 17 | Average of these four years958,895303⁄16 18 | —————————— 19 | In 1772, the country excise produced1,243,12053 20 | The London brewery408,26072¾ 21 | In 1773, the country excise1,245,80833 22 | The London brewery405,4061710½ 23 | In 1774, the country excise1,246,373145½ 24 | The London brewery320,601180¼ 25 | In 1775, the country excise1,214,58361¼ 26 | The London brewery463,67070¼ 27 | —————————— 28 | 4)6,547,832192¼ 29 | —————————— 30 | Average of these four years1,636,95849½ 31 | To which adding the average malt-tax, or958,895303⁄16 32 | —————————— 33 | The whole amount of those different taxes comes out to be2,595,8537911⁄16 34 | —————————— 35 | But, by trebling the malt tax, or by raising it from six to eighteen shillings upon the quarter of malt, that single tax would produce2,876,685909⁄16 36 | A sum which exceeds the foregoing by280,8321214⁄16 37 | 38 | 39 | 40 | Under the old malt tax, indeed, is comprehended 41 | a tax of four shillings upon the hogshead 42 | of cyder, and another of ten shillings upon 43 | the barrel of mum. In 1774, the tax upon 44 | cyder produced only L.3083 : 6 : 8. It probably 45 | fell somewhat short of its usual amount; 46 | all the different taxes upon cyder, having, that 47 | year, produced less than ordinary. The tax 48 | upon mum, though much heavier, is still less 49 | productive, on account of the smaller consumption 50 | of that liquor. But to balance 51 | whatever may be the ordinary amount of those 52 | two taxes, there is comprehended under what 53 | is called the country excise, first, the old excise 54 | of six shillings and eightpence upon the 55 | hogshead of cyder; secondly, a like tax of 56 | six shillings and eightpence upon the 57 | hogshead of verjuice; thirdly, another of eight 58 | shillings and ninepence upon the hogshead of 59 | vinegar; and, lastly, a fourth tax of elevenpence 60 | upon the gallon of mead or metheglin. 61 | The produce of those different taxes will probably 62 | much more than counterbalance that of 63 | the duties imposed, by what is called the annual 64 | malt tax, upon cyder and mum. 65 | 66 | Malt is consumed, not only in the brewery 67 | of beer and ale, but in the manufacture of 68 | low wines and spirits. If the malt tax were 69 | to be raised to eighteen shillings upon the 70 | quarter, it might be necessary to make some 71 | abatement in the different excises which are 72 | imposed upon those particular sorts of low 73 | wines and spirits, of which malt makes any 74 | part of the materials. In what are called 75 | malt spirits, it makes commonly but a third 76 | part of the materials; the other two-thirds 77 | being either raw barley, or one-third barley 78 | and one-third wheat. In the distillery of 79 | malt spirits, both the opportunity and the 80 | temptation to smuggle are much greater than 81 | either in a brewery or in a malt-house; the 82 | opportunity, on account of the smaller bulk 83 | and greater value of the commodity, and the 84 | temptation, on account of the superior height 85 | of the duties, which amounted to 3s. 102⁄3d.[73] 86 | upon the gallon of spirits. By increasing the 87 | duties upon malt, and reducing those upon 88 | the distillery, both the opportunities and the 89 | temptation to smuggle would be diminished, 90 | which might occasion a still further augmentation 91 | of revenue. 92 | 93 | It has for some time past been the policy 94 | of Great Britain to discourage the consumption 95 | of spirituous liquors, on account of their 96 | supposed tendency to ruin the health and to 97 | corrupt the morals of the common people. 98 | According to this policy, the abatement of 99 | the taxes upon the distillery ought not to be 100 | so great as to reduce, in any respect, the price 101 | of those liquors. Spirituous liquors might 102 | remain as dear as ever; while, at the same 103 | time, the wholesome and invigorating liquors 104 | of beer and ale might be considerably reduced 105 | in their price. The people might thus be in 106 | part relieved from one of the burdens of which 107 | they at present complain the most; while, at 108 | the same time, the revenue might be considerably 109 | augmented. 110 | 111 | The objections of Dr. Davenant to this alteration 112 | in the present system of excise duties, 113 | seem to be without foundation. Those objections 114 | are, that the tax, instead of dividing 115 | itself, as at present, pretty equally upon the 116 | profit of the maltster, upon that of the brewer, 117 | and upon that of the retailer, would so far 118 | -------------------------------------------------------------------------------- /WoN1852-pages/343: -------------------------------------------------------------------------------- 1 | rights. The expense of the administration of 2 | justice, therefore, may very properly be defrayed 3 | by the particular contribution of one 4 | or other, or both, of those two different sets 5 | of persons, according as different occasions 6 | may require, that is, by the fees of court. It 7 | cannot be necessary to have recourse to the 8 | general contribution of the whole society, except 9 | for the conviction of those criminals who 10 | have not themselves any estate or fund sufficient 11 | for paying those fees. 12 | 13 | Those local or provincial expenses, of which 14 | the benefit is local or provincial (what is laid 15 | out, for example, upon the police of a particular 16 | town or district), ought to be defrayed 17 | by a local or provincial revenue, and ought to 18 | be no burden upon the general revenue of the 19 | society. It is unjust that the whole society 20 | should contribute towards an expense, of 21 | which the benefit is confined to a part of the 22 | society. 23 | 24 | The expense of maintaining good roads 25 | and communications is, no doubt, beneficial 26 | to the whole society, and may, therefore, without 27 | any injustice, be defrayed by the general 28 | contributions of the whole society. This expense, 29 | however, is most immediately and directly 30 | beneficial to those who travel or carry 31 | goods from one place to another, and to those 32 | who consume such goods. The turnpike tolls 33 | in England, and the duties called peages in 34 | other countries, lay it altogether upon those 35 | two different sets of people, and thereby discharge 36 | the general revenue of the society from 37 | a very considerable burden. 38 | 39 | The expense of the institutions for education 40 | and religious instruction, is likewise, no 41 | doubt, beneficial to the whole society, and 42 | may, therefore, without injustice, be defrayed 43 | by the general contribution of the whole society. 44 | This expense, however, might, perhaps, 45 | with equal propriety, and even with 46 | some advantage, be defrayed altogether by 47 | those who receive the immediate benefit of 48 | such education and instruction, or by the voluntary 49 | contribution of those who think they 50 | have occasion for either the one or the other. 51 | 52 | When the institutions, or public works, 53 | which are beneficial to the whole society, either 54 | cannot be maintained altogether, or are 55 | not maintained altogether, by the contribution 56 | of such particular members of the society as 57 | are most immediately benefited by them; the 58 | deficiency must, in most cases, be made up 59 | by the general contribution of the whole society. 60 | The general revenue of the society, over 61 | and above defraying the expense of defending 62 | the society, and of supporting the dignity of 63 | the chief magistrate, must make up for the 64 | deficiency of many particular branches of revenue. 65 | The sources of this general or public 66 | revenue, I shall endeavour to explain in 67 | the following chapter. 68 | 69 | 70 | 71 | 72 | CHAP. II. 73 | 74 | OF THE SOURCES OF THE GENERAL OR PUBLIC 75 | REVENUE OF THE SOCIETY. 76 | 77 | 78 | The revenue which must defray, not only 79 | the expense of defending the society and of 80 | supporting the dignity of the chief magistrate, 81 | but all the other necessary expenses of government, 82 | for which the constitution of the state 83 | has not provided any particular revenue may 84 | be drawn, either, first, from some fund which 85 | peculiarly belongs to the sovereign or commonwealth, 86 | and which is independent of the 87 | revenue of the people; or, secondly, from the 88 | revenue of the people. 89 | 90 | 91 | PART I. 92 | 93 | Of the Funds, or Sources, of Revenue, which 94 | may peculiarly belong to the Sovereign or 95 | Commonwealth. 96 | 97 | The funds, or sources, of revenue, which 98 | may peculiarly belong to the sovereign or 99 | commonwealth, must consist, either in stock, 100 | or in land. 101 | 102 | The sovereign, like any other owner of 103 | stock, may derive a revenue from it, either 104 | by employing it himself, or by lending it. His 105 | revenue is, in the one case, profit, in the other 106 | interest. 107 | 108 | The revenue of a Tartar or Arabian chief 109 | consists in profit. It arises principally from 110 | the milk and increase of his own herds and 111 | flocks, of which he himself superintends the 112 | management, and is the principal shepherd or 113 | herdsman of his own horde or tribe. It is, 114 | however, in this earliest and rudest state of 115 | civil government only, that profit has ever 116 | made the principal part of the public revenue 117 | of a monarchical state. 118 | 119 | Small republics have sometimes derived a 120 | considerable revenue from the profit of mercantile 121 | projects. The republic of Hamburgh 122 | is said to do so from the profits of a public 123 | wine-cellar and apothecary's shop.[50] That state 124 | cannot be very great, of which the sovereign has 125 | leisure to carry on the trade of a wine-merchant 126 | or an apothecary. The profit of a public bank 127 | has been a source of revenue to more considerable 128 | -------------------------------------------------------------------------------- /match-index.py: -------------------------------------------------------------------------------- 1 | # Matches up 1784 index with the topic model. A set of pages is produced 2 | # for each topic using a set cutoff for coefficients; this is compared to 3 | # the set of pages listed under each index heading using the Jaccard metric. 4 | # Also produces CSV files representing the results of chopping up the topic 5 | # model, for processing in R. 6 | 7 | import pickle 8 | 9 | steps = 1000 10 | 11 | def jaccard(S1, S2): 12 | return float(len(S1 & S2)) / len(S1 | S2) 13 | 14 | index = pickle.load(open('index.pkl')) 15 | 16 | f = open('doc_topics.txt', 'r') 17 | f.readline() 18 | topic_coefs = {} 19 | for line in f.readlines(): 20 | line = line.split('\t') 21 | pagenum = line[1].split('/')[-1].replace('%20', ' ').replace('%3F', '?') 22 | pagenum = int(pagenum) 23 | line = line[2:] 24 | ntopics = len(line) / 2 25 | for i in xrange(0, ntopics): 26 | topic = int(line[i*2]) 27 | coef = float(line[i*2 + 1]) 28 | topic_coefs.setdefault(topic, {})[pagenum] = coef 29 | 30 | # Output an example of an apparently connected topic-heading pair to examine 31 | # in R. 32 | heading = 'Colonies' 33 | topic = 35 34 | f = open('example_comparison.csv', 'w') 35 | f.write('pagenum,coef,in_heading\n') 36 | heading_pages = set(x[1] for x in index[heading]) 37 | data = [(pagenum, topic_coefs[topic][pagenum], 38 | 1 if pagenum in heading_pages else 0) 39 | for pagenum in topic_coefs[topic]] 40 | data = sorted(data, key=lambda x: x[1]) 41 | for row in data: 42 | f.write(','.join(str(x) for x in row) + '\n') 43 | exit() 44 | 45 | def match(coef_cutoff): 46 | pagenums_by_topic = {} 47 | topics_by_pagenum = {} 48 | for topic in topic_coefs: 49 | for pagenum in topic_coefs[topic]: 50 | coef = topic_coefs[topic][pagenum] 51 | if coef > coef_cutoff: 52 | pagenums_by_topic.setdefault(topic, set()).add(pagenum) 53 | topics_by_pagenum.setdefault(pagenum, set()).add(topic) 54 | 55 | f = open('topics.csv', 'w') 56 | f.write('i,npages\n') 57 | for topic in pagenums_by_topic: 58 | npages = len(pagenums_by_topic[topic]) 59 | f.write(','.join(str(x) for x in [topic, npages]) + '\n') 60 | 61 | f = open('pages2.csv', 'w') 62 | f.write('i,ntopics\n') 63 | for pagenum in topics_by_pagenum: 64 | ntopics = len(topics_by_pagenum[pagenum]) 65 | f.write(','.join(str(x) for x in [pagenum, ntopics]) + '\n') 66 | 67 | heading_matches = {} 68 | topic_matches = {} 69 | 70 | for heading in index: 71 | heading_pages = set(page for (subheading, page) in index[heading]) 72 | for topic in pagenums_by_topic: 73 | topic_pages = pagenums_by_topic[topic] 74 | left = heading_pages - topic_pages 75 | inner = heading_pages & topic_pages 76 | right = topic_pages - heading_pages 77 | similarity = jaccard(heading_pages, topic_pages) 78 | heading_matches.setdefault(heading, []) \ 79 | .append((topic, similarity, left, inner, right)) 80 | topic_matches.setdefault(topic, []) \ 81 | .append((heading, similarity, left, inner, right)) 82 | 83 | for heading in heading_matches: 84 | heading_matches[heading] = sorted(heading_matches[heading], 85 | key=lambda x: -x[1]) 86 | 87 | for topic in topic_matches: 88 | topic_matches[topic] = sorted(topic_matches[topic], 89 | key=lambda x: -x[1]) 90 | 91 | return heading_matches, topic_matches 92 | 93 | 94 | # Run through a bunch of possible cutoffs to see how good the match is. 95 | 96 | for i in xrange(steps): 97 | cutoff = (i + 1.0) / steps 98 | heading_matches, topic_matches = match(cutoff) 99 | avg_similarity = 0.0 100 | num_unique_matches = 0 101 | headings_matched = set() 102 | for topic in topic_matches: 103 | avg_similarity += topic_matches[topic][0][1] 104 | if len(topic_matches[topic]) < 2 \ 105 | or (topic_matches[topic][0][1] 106 | > topic_matches[topic][1][1]): 107 | num_unique_matches += 1 108 | headings_matched.add(topic_matches[topic][0][0]) 109 | avg_similarity /= float(len(topic_matches)) 110 | print cutoff, num_unique_matches, len(headings_matched), avg_similarity 111 | break 112 | 113 | 114 | # Output the results with our selected cutoff. 115 | 116 | heading_matches, topic_matches = match(0.053) 117 | 118 | print '===== Top headings for topics' 119 | 120 | avg_similarity = 0.0 121 | for topic in topic_matches: 122 | print topic, topic_matches[topic][0] 123 | avg_similarity += topic_matches[topic][0][1] 124 | avg_similarity /= float(len(topic_matches)) 125 | print avg_similarity 126 | 127 | print '===== Top topics for headings' 128 | 129 | avg_similarity = 0.0 130 | for heading in sorted(heading_matches): 131 | print heading, heading_matches[heading][0] 132 | avg_similarity += heading_matches[heading][0][1] 133 | avg_similarity /= float(len(heading_matches)) 134 | print avg_similarity 135 | -------------------------------------------------------------------------------- /WoN1852-pages/219: -------------------------------------------------------------------------------- 1 | the establishment of the bounty may, perhaps 2 | with reason, be ascribed in some measure 3 | to the operation of this statute of Charles II. 4 | which had been enacted about five-and-twenty 5 | years before, and which had, therefore, full 6 | time to produce its effect. 7 | 8 | A very few words will sufficiently explain 9 | all that I have to say concerning the other 10 | three branches of the corn trade. 11 | 12 | II. The trade of the merchant-importer of 13 | foreign corn for home consumption, evidently 14 | contributes to the immediate supply of the 15 | home market, and must so far be immediately 16 | beneficial to the great body of the people. It 17 | tends, indeed, to lower somewhat the average 18 | money price of corn, but not to diminish its 19 | real value, or the quantity of labour which it 20 | is capable of maintaining. If importation was 21 | at all times free, our farmers and country gentlemen 22 | would probably, one year with another, 23 | get less money for their corn than they do at 24 | present, when importation is at most times in 25 | effect prohibited; but the money which they 26 | got would be of more value, would buy more 27 | goods of all other kinds, and would employ 28 | more labour. Their real wealth, their real revenue, 29 | therefore, would be the same as at present, 30 | though it might be expressed by a smaller 31 | quantity of silver, and they would neither be 32 | disabled nor discouraged from cultivating corn 33 | as much as they do at present. On the contrary, 34 | as the rise in the real value of silver, in consequence 35 | of lowering the money price of corn, 36 | lowers somewhat the money price of all other 37 | commodities, it gives the industry of the country 38 | where it takes place some advantage in all 39 | foreign markets, and thereby tends to encourage 40 | and increase that industry. But the extent 41 | of the home market for corn must be in 42 | proportion to the general industry of the country 43 | where it grows, or to the number of those 44 | who produce something else, and, therefore, 45 | have something else, or, what comes to the 46 | same thing, the price of something else, to 47 | give in exchange for corn. But in every country, 48 | the home market, as it is the nearest and 49 | most convenient, so is it likewise the greatest 50 | and most important market for corn. That 51 | rise in the real value of silver, therefore, which 52 | is the effect of lowering the average money 53 | price of corn, tends to enlarge the greatest and 54 | most important market for corn, and thereby 55 | to encourage, instead of discouraging its 56 | growth. 57 | 58 | By the 22nd of Charles II. c. 13, the importation 59 | of wheat, whenever the price in the 60 | home market did not exceed 53s. 4d. the 61 | quarter, was subjected to a duty of 16s. the 62 | quarter; and to a duty of 8s. whenever the 63 | price did not exceed L.4. The former of these 64 | two prices has, for more than a century past, 65 | taken place only in times of very great scarcity; 66 | and the latter has, so far as I know, not 67 | taken place at all. Yet, till wheat had risen 68 | above this latter price, it was, by this statute, 69 | subjected to a very high duty; and, till it 70 | had risen above the former, to a duty which 71 | amounted to a prohibition. The importation 72 | of other sorts of grain was restrained at rates 73 | and by duties, in proportion to the value of 74 | the grain, almost equally high.[40] Subsequent 75 | laws still further increased those duties. 76 | 77 | The distress which, in years of scarcity, the 78 | strict execution of those laws might have 79 | brought upon the people, would probably 80 | have been very great; but, upon such occasions, 81 | its execution was generally suspended 82 | by temporary statutes, which permitted, for a 83 | limited time, the importation of foreign corn. 84 | The necessity of these temporary statutes sufficiently 85 | demonstrates the impropriety of this 86 | general one. 87 | 88 | These restraints upon importation, though 89 | prior to the establishment of the bounty, were 90 | dictated by the same spirit, by the same principles, 91 | which afterwards enacted that regulation. 92 | How hurtful soever in themselves, these, 93 | or some other restraints upon importation, became 94 | necessary in consequence of that regulation. 95 | If, when wheat was either below 48s. 96 | the quarter, or not much above it, foreign 97 | corn could have been imported, either duty 98 | free, or upon paying only a small duty, it 99 | might have been exported again, with the benefit 100 | of the bounty, to the great loss of the 101 | public revenue, and to the entire perversion 102 | of the institution, of which the object was to 103 | extend the market for the home growth, not 104 | that for the growth of foreign countries. 105 | 106 | III. The trade of the merchant-exporter of 107 | corn for foreign consumption, certainly does 108 | not contribute directly to the plentiful supply 109 | of the home market. It does so, however, indirectly. 110 | From whatever source this supply 111 | may be usually drawn, whether from home 112 | growth, or from foreign importation, unless 113 | more corn is either usually grown, or usually 114 | imported into the country, than what is usually 115 | -------------------------------------------------------------------------------- /WoN1852-pages/196: -------------------------------------------------------------------------------- 1 | for which credit had been given in the transfer 2 | books. What is thus paid for the keeping 3 | of the deposit may be considered as a sort of 4 | warehouse rent; and why this warehouse rent 5 | should be so much dearer for gold than for silver, 6 | several different reasons have been assigned. 7 | The fineness of gold, it has been said, is more 8 | difficult to be ascertained than that of silver. 9 | Frauds are more easily practised, and occasion 10 | a greater loss in the most precious metal. Silver, 11 | besides, being the standard metal, the 12 | state, it has been said, wishes to encourage 13 | more the making of deposits of silver than 14 | those of gold. 15 | 16 | Deposits of bullion are most commonly 17 | made when the price is somewhat lower than 18 | ordinary, and they are taken out again when 19 | it happens to rise. In Holland the market 20 | price of bullion is generally above the mint 21 | price, for the same reason that it was so in 22 | England before the late reformation of the 23 | gold coin. The difference is said to be commonly 24 | from about six to sixteen stivers upon 25 | the mark, or eight ounces of silver, of eleven 26 | parts of fine and one part alloy. The bank 27 | price, or the credit which the bank gives for 28 | the deposits of such silver (when made in foreign 29 | coin, of which the fineness is well known 30 | and ascertained, such as Mexico dollars), is 31 | twenty-two guilders the mark; the mint price 32 | is about twenty-three guilders, and the market 33 | price is from twenty-three guilders six, to 34 | twenty-three guilders sixteen stivers, or from 35 | two to three per cent. above the mint price.[37] 36 | The proportions between the bank price, the 37 | mint price, and the market price of gold bullion, 38 | are nearly the same. A person can generally 39 | sell his receipt for the difference between 40 | the mint price of bullion and the market 41 | price. A receipt for bullion is almost always 42 | worth something, and it very seldom happens, 43 | therefore, that anybody suffers his receipts to 44 | expire, or allows his bullion to fall to the bank 45 | at the price at which it had been received, either 46 | by not taking it out before the end of 47 | the six months, or by neglecting to pay one 48 | fourth or one half per cent. in order to obtain 49 | a new receipt for another six months. This, 50 | however, though it happens seldom, is said to 51 | happen sometimes, and more frequently with 52 | regard to gold than with regard to silver, on 53 | account of the higher warehouse rent which 54 | is paid for the keeping of the more precious 55 | metal. 56 | 57 | The person who, by making a deposit of 58 | bullion, obtains both a bank credit and a receipt, 59 | pays his bills of exchange as they become 60 | due, with his bank credit; and either 61 | sells or keeps his receipt, according as he 62 | judges that the price of bullion is likely to 63 | rise or to fall. The receipt and the bank credit 64 | seldom keep long together, and there is no 65 | occasion that they should. The person who 66 | has a receipt, and who wants to take out bullion, 67 | finds always plenty of bank credits, or 68 | bank money, to buy at the ordinary price, 69 | and the person who has bank money, and 70 | wants to take out bullion, finds receipts always 71 | in equal abundance. 72 | 73 | The owners of bank credits, and the holders 74 | of receipts, constitute two different sorts 75 | of creditors against the bank. The holder of 76 | a receipt cannot draw out the bullion for 77 | which it is granted, without re-assigning to 78 | the bank a sum of bank money equal to the 79 | price at which the bullion had been received. 80 | If he has no bank money of his own, he must 81 | purchase it of those who have it. The owner 82 | of bank money cannot draw out bullion, without 83 | producing to the bank receipts for the 84 | quantity which he wants. If he has none of 85 | his own, he must buy them of those who have 86 | them. The holder of a receipt, when he purchases 87 | bank money, purchases the power of 88 | taking out a quantity of bullion, of which the 89 | mint price is five per cent. above the bank 90 | price. The agio of five per cent. therefore, 91 | which he commonly pays for it, is paid, not 92 | for an imaginary, but for a real value. The 93 | owner of bank money, when he purchases a 94 | receipt, purchases the power of taking out a 95 | quantity of bullion, of which the market price 96 | is commonly from two to three per cent. 97 | above the mint price. The price which he 98 | pays for it, therefore, is paid likewise for a 99 | real value. The price of the receipt, and the 100 | price of the bank money, compound or make 101 | up between them the full value or price of 102 | the bullion. 103 | 104 | Upon deposits of the coin current in the 105 | country, the bank grant receipts likewise, as 106 | well as bank credits; but those receipts are 107 | frequently of no value and will bring no 108 | price in the market. Upon ducatoons, for 109 | example, which in the currency pass for three 110 | guilders three stivers each, the bank gives a 111 | credit of three guilders only, or five per 112 | cent. below their current value. It grants 113 | a receipt likewise, entitling the bearer to 114 | take out a number of ducatoons deposited 115 | -------------------------------------------------------------------------------- /WoN1852-pages/041: -------------------------------------------------------------------------------- 1 | might not be the same in countries where the 2 | ordinary rate of profit was either a good deal 3 | lower, or a good deal higher. If it were a 4 | good deal lower, one half of it, perhaps, could 5 | not be afforded for interest; and more might 6 | be afforded if it were a good deal higher. 7 | 8 | In countries which are fast advancing to 9 | riches, the low rate of profit may, in the price 10 | of many commodities, compensate the high 11 | wages of labour, and enable those countries 12 | to sell as cheap as their less thriving neighbours, 13 | among whom the wages of labour may 14 | be lower. 15 | 16 | In reality, high profits tend much more to 17 | raise the price of work than high wages. If, 18 | in the linen manufacture, for example, the 19 | wages of the different working people, the flax-dressers, 20 | the spinners, the weavers, &c. should 21 | all of them be advanced twopence a-day, it 22 | would be necessary to heighten the price of a 23 | piece of linen only by a number of twopences 24 | equal to the number of people that had been 25 | employed about it, multiplied by the number 26 | of days during which they had been so employed. 27 | That part of the price of the commodity 28 | which resolved itself into the wages, 29 | would, through all the different stages of the 30 | manufacture, rise only in arithmetical proportion 31 | to this rise of wages. But if the profits 32 | of all the different employers of those working 33 | people should be raised five per cent. that 34 | part of the price of the commodity which resolved 35 | itself into profit would, through all the 36 | different stages of the manufacture, rise in 37 | geometrical proportion to this rise of profit. 38 | The employer of the flax-dressers would, in 39 | selling his flax, require an additional five per 40 | cent. upon the whole value of the materials 41 | and wages which he advanced to his workmen. 42 | The employer of the spinners would require 43 | an additional five per cent. both upon the advanced 44 | price of the flax, and upon the wages 45 | of the spinners. And the employer of the 46 | weavers would require a like five per cent. 47 | both upon the advanced price of the linen-yarn, 48 | and upon the wages of the weavers. In 49 | raising the price of commodities, the rise of 50 | wages operates in the same manner as simple 51 | interest does in the accumulation of debt. 52 | The rise of profit operates like compound interest. 53 | Our merchants and master manufacturers 54 | complain much of the bad effects of 55 | high wages in raising the price, and thereby 56 | lessening the sale of their goods, both at home 57 | and abroad. They say nothing concerning 58 | the bad effects of high profits; they are silent 59 | with regard to the pernicious effects of their 60 | own gains; they complain only of those of 61 | other people. 62 | 63 | 64 | 65 | 66 | CHAP. X. 67 | 68 | OF WAGES AND PROFIT IN THE DIFFERENT EMPLOYMENTS 69 | OF LABOUR AND STOCK. 70 | 71 | 72 | The whole of the advantages and disadvantages 73 | of the different employments of labour 74 | and stock, must, in the same neighbourhood, 75 | be either perfectly equal, or continually tending 76 | to equality. If, in the same neighbourhood, 77 | there was any employment evidently 78 | either more or less advantageous than the rest, 79 | so many people would crowd into it in the one 80 | case, and so many would desert it in the other, 81 | that its advantages would soon return to the 82 | level of other employments. This, at least, 83 | would be the case in a society where things 84 | were left to follow their natural course, where 85 | there was perfect liberty, and where every man 86 | was perfectly free both to choose what occupation 87 | he thought proper, and to change it as 88 | often as he thought proper. Every man's interest 89 | would prompt him to seek the advantageous, 90 | and to shun the disadvantageous employment. 91 | 92 | Pecuniary wages and profit, indeed, are 93 | everywhere in Europe extremely different, according 94 | to the different employments of labour 95 | and stock. But this difference arises, partly 96 | from certain circumstances in the employments 97 | themselves, which, either really, or at 98 | least in the imagination of men, make up for 99 | a small pecuniary gain in some, and counterbalance 100 | a great one in others, and partly from 101 | the policy of Europe, which nowhere leaves 102 | things at perfect liberty. 103 | 104 | The particular consideration of those circumstances, 105 | and of that policy, will divide 106 | this Chapter into two parts. 107 | 108 | 109 | Part I.—Inequalities arising from the nature 110 | of the employments themselves. 111 | 112 | The five following are the principal circumstances 113 | which, so far as I have been able to 114 | observe, make up for a small pecuniary gain 115 | in some employments, and counterbalance a 116 | great one in others. First, the agreeableness 117 | or disagreeableness of the employments themselves; 118 | secondly, the easiness and cheapness, 119 | or the difficulty and expense of learning them; 120 | thirdly, the constancy or inconstancy of employment 121 | in them; fourthly, the small or great 122 | trust which must be reposed in those who exercise 123 | them; and, fifthly, the probability or 124 | improbability of success in them. 125 | 126 | First, the wages of labour vary with the 127 | ease or hardship, the cleanliness or dirtiness, 128 | the honourableness or dishonourableness, of 129 | the employment. Thus in most places, take 130 | the year round, a journeyman tailor earns less 131 | than a journeyman weaver. His work is much 132 | -------------------------------------------------------------------------------- /WoN1852-pages/393: -------------------------------------------------------------------------------- 1 | to this account, the whole debt paid off, during 2 | eleven years of profound peace, amounted 3 | only to L.10,415,476 : 16 : 97⁄8. Even this 4 | small reduction of debt, however, has not 5 | been all made from the savings out of the ordinary 6 | revenue of the state. Several extraneous 7 | sums, altogether independent of that 8 | ordinary revenue, have contributed towards 9 | it. Amongst these we may reckon an additional 10 | shilling in the pound land tax, for three 11 | years; the two millions received from the 12 | East-India company, as indemnification for 13 | their territorial acquisitions; and the one hundred 14 | and ten thousand pounds received from 15 | the bank for the renewal of their charter. To 16 | these must be added several other sums, which, 17 | as they arose out of the late war, ought perhaps 18 | to be considered as deductions from the 19 | expenses of it. The principal are, 20 | 21 | 22 | 23 | 24 | The produce of French prizesL.690,449189 25 | Composition for French prisoners670,00000 26 | What has been received from the sale of the ceded islands95,50000 27 | —————————— 28 | Total,L.1,455,949189 29 | 30 | 31 | If we add to this sum the balance of the earl 32 | of Chatham's and Mr. Calcraft's accounts, 33 | and other army savings of the same kind, together 34 | with what has been received from the 35 | bank, the East-India company, and the additional 36 | shilling in the pound land tax, the 37 | whole must be a good deal more than five 38 | millions. The debt, therefore, which, since 39 | the peace, has been paid out of the savings 40 | from the ordinary revenue of the state, has 41 | not, one year with another, amounted to half 42 | a million a-year. The sinking fund has, no 43 | doubt, been considerably augmented since the 44 | peace, by the debt which had been paid off, 45 | by the reduction of the redeemable four per 46 | cents to three per cents, and by the annuities 47 | for lives which have fallen in; and, if 48 | peace were to continue, a million, perhaps, 49 | might now be annually spared out of it towards 50 | the discharge of the debt. Another 51 | million, accordingly, was paid in the course 52 | of last year; but at the same time, a large civil-list 53 | debt was left unpaid, and we are now 54 | involved in a new war, which, in its progress, 55 | may prove as expensive as any of our former 56 | wars.[78] The new debt which will probably be 57 | contracted before the end of the next campaign, 58 | may, perhaps, be nearly equal to all the 59 | old debt which has been paid off from the savings 60 | out of the ordinary revenue of the state. 61 | It would be altogether chimerical, therefore, 62 | to expect that the public debt should ever be 63 | completely discharged, by any savings which 64 | are likely to be made from that ordinary revenue 65 | as it stands at present. 66 | 67 | The public funds of the different indebted 68 | nations of Europe, particularly those of England, 69 | have, by one author, been represented 70 | as the accumulation of a great capital, superadded 71 | to the other capital of the country, by 72 | means of which its trade is extended, its 73 | manufactures are multiplied, and its lands 74 | cultivated and improved, much beyond what 75 | they could have been by means of that other 76 | capital only. He does not consider that the 77 | capital which the first creditors of the public 78 | advanced to government, was, from the moment 79 | in which he advanced it, a certain portion 80 | of the annual produce, turned away from 81 | serving in the function of a capital, to serve 82 | in that of a revenue; from maintaining productive 83 | labourers, to maintain unproductive 84 | ones, and to be spent and wasted, generally in 85 | the course of the year, without even the hope 86 | of any future reproduction. In return for 87 | the capital which they advanced, they obtained, 88 | indeed, an annuity of the public funds, in 89 | most cases, of more than equal value. This 90 | annuity, no doubt, replaced to them their capital, 91 | and enabled them to carry on their trade 92 | and business to the same, or, perhaps, to a 93 | greater extent than before; that is, they were 94 | enabled, either to borrow of other people a 95 | new capital, upon the credit of this annuity 96 | or, by selling it, to get from other people a 97 | new capital of their own, equal, or superior, to 98 | that which they had advanced to government. 99 | This new capital, however, which they in this 100 | manner either bought or borrowed of other 101 | people, must have existed in the country before, 102 | and must have been employed, as all capitals 103 | are, in maintaining productive labour. 104 | When it came into the hands of those who 105 | had advanced their money to government, 106 | though it was, in some respects, a new capital 107 | to them, it was not so to the country, but was 108 | only a capital withdrawn from certain employments, 109 | in order to be turned towards 110 | others. Though it replaced to them what 111 | they had advanced to government, it did not 112 | replace it to the country. Had they not advanced 113 | this capital to government, there would 114 | have been in the country two capitals, two 115 | portions of the annual produce, instead of 116 | one, employed in maintaining productive labour. 117 | 118 | When, for defraying the expense of government, 119 | a revenue is raised within the year, 120 | from the produce of free or unmortgaged 121 | taxes, a certain portion of the revenue of private 122 | people is only turned away from maintaining 123 | one species of unproductive labour, 124 | towards maintaining another. Some part of 125 | -------------------------------------------------------------------------------- /WoN1852-pages/223: -------------------------------------------------------------------------------- 1 | this kind, against itself, to certain goods of a 2 | foreign nation, because it expected, that in 3 | the whole commerce between them, it would 4 | annually sell more than it would buy, and 5 | that a balance in gold and silver would be annually 6 | returned to it. It is upon this principle 7 | that the treaty of commerce between 8 | England and Portugal, concluded in 1703 by 9 | Mr Methuen, has been so much commended. 10 | The following is a literal translation of that 11 | treaty, which consists of three articles only. 12 | 13 | 14 | ART. I. 15 | 16 | His sacred royal majesty of Portugal promises, 17 | both in his own name and that of his 18 | successors, to admit for ever hereafter, into 19 | Portugal, the woollen cloths, and the rest of 20 | the woollen manufactures of the British, as 21 | was accustomed, till they were prohibited by 22 | the law; nevertheless upon this condition: 23 | 24 | 25 | ART. II. 26 | 27 | That is to say, that her sacred royal majesty 28 | of Great Britain shall, in her own name, and 29 | that of her successors, be obliged, for ever 30 | hereafter, to admit the wines of the growth of 31 | Portugal into Britain; so that at no time, 32 | whether there shall be peace or war between 33 | the kingdoms of Britain and France, 34 | any thing more shall be demanded for these 35 | wines by the name of custom or duty, or by 36 | whatsoever other title, directly or indirectly, 37 | whether they shall be imported into Great 38 | Britain in pipes or hogsheads, or other casks, 39 | than what shall be demanded for the like 40 | quantity or measure of French wine, deducting 41 | or abating a third part of the custom or 42 | duty. But if, at any time, this deduction or 43 | abatement of customs, which is to be made as 44 | aforesaid, shall in any manner be attempted 45 | and prejudiced, it shall be just and lawful for 46 | his sacred royal majesty of Portugal, again to 47 | prohibit the woollen cloths, and the rest of 48 | the British woollen manufactures. 49 | 50 | 51 | ART. III. 52 | 53 | The most excellent lords the plenipotentiaries 54 | promise and take upon themselves, that 55 | their above named masters shall ratify this 56 | treaty; and within the space of two months 57 | the ratification shall be exchanged. 58 | 59 | 60 | By this treaty, the crown of Portugal becomes 61 | bound to admit the English woollens 62 | upon the same footing as before the prohibition; 63 | that is, not to raise the duties which 64 | had been paid before that time. But it does 65 | not become bound to admit them upon any 66 | better terms than those of any other nation, 67 | of France or Holland, for example. The 68 | crown of Great Britain, on the contrary, becomes 69 | bound to admit the wines of Portugal, 70 | upon paying only two-thirds of the duty which 71 | is paid for those of France, the wines most 72 | likely to come into competition with them. 73 | So far this treaty, therefore, is evidently advantageous 74 | to Portugal, and disadvantageous 75 | to Great Britain. 76 | 77 | It has been celebrated, however, as a masterpiece 78 | of the commercial policy of England. 79 | Portugal receives annually from the Brazils 80 | a greater quantity of gold than can be employed 81 | in its domestic commerce, whether in 82 | the shape of coin or of plate. The surplus is 83 | too valuable to be allowed to lie idle and 84 | locked up in coffers; and as it can find no 85 | advantageous market at home, it must, notwithstanding 86 | any prohibition, be sent abroad, 87 | and exchanged for something for which there 88 | is a more advantageous market at home. A 89 | large share of it comes annually to England, 90 | in return either for English goods, or for 91 | those of other European nations that receive 92 | their returns through England. Mr Barretti 93 | was informed, that the weekly packet-boat 94 | from Lisbon brings, one week with another, 95 | more than L.50,000 in gold to England. The 96 | sum had probably been exaggerated. It 97 | would amount to more than L.2,600,000 a-year, 98 | which is more than the Brazils are supposed 99 | to afford. 100 | 101 | Our merchants were, some years ago, out 102 | of humour with the crown of Portugal. Some 103 | privileges which had been granted them, not 104 | by treaty, but by the free grace of that 105 | crown, at the solicitation, indeed, it is probable, 106 | and in return for much greater favours, 107 | defence and protection from the crown of 108 | Great Britain, had been either infringed or 109 | revoked. The people, therefore, usually most 110 | interested in celebrating the Portugal trade, 111 | were then rather disposed to represent it as 112 | less advantageous than it had commonly been 113 | imagined. The far greater part, almost the 114 | whole, they pretended, of this annual importation 115 | of gold, was not on account of Great 116 | Britain, but of other European nations; the 117 | fruits and wines of Portugal annually imported 118 | into Great Britain nearly compensating 119 | the value of the British goods sent thither. 120 | 121 | Let us suppose, however, that the whole 122 | was on account of Great Britain, and that it 123 | amounted to a still greater sum than Mr Barretti 124 | seems to imagine; this trade would not, 125 | upon that account, be more advantageous than 126 | any other, in which, for the same value sent 127 | out, we received an equal value of consumable 128 | goods in return. 129 | 130 | It is but a very small part of this importation 131 | which, it can be supposed, is employed 132 | as an annual addition, either to the plate or 133 | to the coin of the kingdom. The rest must 134 | all be sent abroad, and exchanged for consumable 135 | -------------------------------------------------------------------------------- /WoN1852-pages/012: -------------------------------------------------------------------------------- 1 | of metal, which had been originally contained 2 | in their coins. The Roman as, in the latter 3 | ages of the republic, was reduced to the 4 | twenty-fourth part of its original value, and, 5 | instead of weighing a pound, came to weigh 6 | only half an ounce. The English pound and 7 | penny contain at present about a third only; 8 | the Scots pound and penny about a thirty-sixth; 9 | and the French pound and penny about 10 | a sixty-sixth part of their original value. By 11 | means of those operations, the princes and sovereign 12 | states which performed them were 13 | enabled, in appearance, to pay their debts and 14 | fulfil their engagements with a smaller quantity 15 | of silver than would otherwise have been 16 | requisite. It was indeed in appearance only; 17 | for their creditors were really defrauded of a 18 | part of what was due to them. All other 19 | debtors in the state were allowed the same 20 | privilege, and might pay with the same nominal 21 | sum of the new and debased coin whatever 22 | they had borrowed in the old. Such 23 | operations, therefore, have always proved favourable 24 | to the debtor, and ruinous to the 25 | creditor, and have sometimes produced a 26 | greater and more universal revolution in the 27 | fortunes of private persons, than could have 28 | been occasioned by a very great public calamity. 29 | 30 | It is in this manner that money has become, 31 | in all civilized nations, the universal instrument 32 | of commerce, by the intervention of 33 | which goods of all kinds are bought and sold, 34 | or exchanged for one another. 35 | 36 | What are the rules which men naturally 37 | observe, in exchanging them either for money, 38 | or for one another, I shall now proceed to 39 | examine. These rules determine what may 40 | be called the relative or exchangeable value 41 | of goods. 42 | 43 | The word VALUE, it is to be observed, has 44 | two different meanings, and sometimes expresses 45 | the utility of some particular object, 46 | and sometimes the power of purchasing other 47 | goods which the possession of that object conveys. 48 | The one may be called 'value in use;' 49 | the other, 'value in exchange.' The things 50 | which have the greatest value in use have frequently 51 | little or no value in exchange; and, 52 | on the contrary, those which have the greatest 53 | value in exchange have frequently little or 54 | no value in use. Nothing is more useful 55 | than water; but it will purchase scarce any 56 | thing; scarce any thing can be had in exchange 57 | for it. A diamond, on the contrary, 58 | has scarce any value in use; but a very great 59 | quantity of other goods may frequently be had 60 | in exchange for it. 61 | 62 | In order to investigate the principles which 63 | regulate the exchangeable value of commodities, 64 | I shall endeavour to shew, 65 | 66 | First, what is the real measure of this exchangeable 67 | value; or wherein consists the 68 | real price of all commodities. 69 | 70 | Secondly, what are the different parts of 71 | which this real price is composed or made up. 72 | 73 | And, lastly, what are the different circumstances 74 | which sometimes raise some or all of 75 | these different parts of price above, and sometimes 76 | sink them below, their natural or ordinary 77 | rate; or, what are the causes which 78 | sometimes hinder the market price, that is, 79 | the actual price of commodities, from coinciding 80 | exactly with what may be called their 81 | natural price. 82 | 83 | I shall endeavour to explain, as fully and 84 | distinctly as I can, those three subjects in the 85 | three following chapters, for which I must 86 | very earnestly entreat both the patience and 87 | attention of the reader: his patience, in order 88 | to examine a detail which may, perhaps, in 89 | some places, appear unnecessarily tedious; 90 | and his attention, in order to understand 91 | what may perhaps, after the fullest explication 92 | which I am capable of giving it, appear still 93 | in some degree obscure. I am always willing 94 | to run some hazard of being tedious, in 95 | order to be sure that I am perspicuous; and, 96 | after taking the utmost pains that I can to be 97 | perspicuous, some obscurity may still appear 98 | to remain upon a subject, in its own nature 99 | extremely abstracted. 100 | 101 | 102 | 103 | 104 | CHAP. V. 105 | 106 | OF THE REAL AND NOMINAL PRICE OF COMMODITIES, 107 | OR OF THEIR PRICE IN LABOUR, AND 108 | THEIR PRICE IN MONEY. 109 | 110 | 111 | Every man is rich or poor according to the 112 | degree in which he can afford to enjoy the necessaries, 113 | conveniencies, and amusements of 114 | human life. But after the division of labour 115 | has once thoroughly taken place, it is but a 116 | very small part of these with which a man's 117 | own labour can supply him. The far greater 118 | part of them he must derive from the labour 119 | of other people, and he must be rich or poor 120 | according to the quantity of that labour 121 | which he can command, or which he can afford 122 | to purchase. The value of any commodity, 123 | therefore, to the person who possesses it, 124 | and who means not to use or consume it himself, 125 | but to exchange it for other commodities, 126 | is equal to the quantity of labour which it enables 127 | him to purchase or command. Labour 128 | therefore, is the real measure of the exchangeable 129 | value of all commodities. 130 | 131 | The real price of every thing, what every 132 | thing really costs to the man who wants to acquire 133 | it, is the toil and trouble of acquiring 134 | it. What every thing is really worth to the 135 | man who has acquired it and who wants to 136 | dispose of it, or exchange it for something 137 | -------------------------------------------------------------------------------- /WoN1852-pages/274: -------------------------------------------------------------------------------- 1 | He likewise forfeits to the king all his lands, 2 | goods, and chattels; is declared an alien in 3 | every respect; and is put out of the king's 4 | protection. 5 | 6 | It is unnecessary, I imagine, to observe how 7 | contrary such regulations are to the boasted 8 | liberty of the subject, of which we affect to 9 | be so very jealous; but which, in this case, is 10 | so plainly sacrificed to the futile interests of 11 | our merchants and manufacturers. 12 | 13 | The laudable motive of all these regulations, 14 | is to extend our own manufactures, not 15 | by their own improvement, but by the depression 16 | of those of all our neighbours, and 17 | by putting an end, as much as possible, to 18 | the troublesome competition of such odious 19 | and disagreeable rivals. Our master manufacturers 20 | think it reasonable that they themselves 21 | should have the monopoly of the ingenuity 22 | of all their countrymen. Though by 23 | restraining, in some trades, the number of 24 | apprentices which can be employed at one 25 | time, and by imposing the necessity of a long 26 | apprenticeship in all trades, they endeavour, 27 | all of them, to confine the knowledge of their 28 | respective employments to as small a number 29 | as possible; they are unwilling, however, that 30 | any part of this small number should go abroad 31 | to instruct foreigners. 32 | 33 | Consumption is the sole end and purpose 34 | of all production; and the interest of the producer 35 | ought to be attended to, only so far as 36 | it may be necessary for promoting that of the 37 | consumer. 38 | 39 | The maxim is so perfectly self-evident, that 40 | it would be absurd to attempt to prove it. 41 | But in the mercantile system, the interest of 42 | the consumer is almost constantly sacrificed 43 | to that of the producer; and it seems to consider 44 | production, and not consumption, as 45 | the ultimate end and object of all industry 46 | and commerce. 47 | 48 | In the restraints upon the importation of 49 | all foreign commodities which can come into 50 | competition with those of our own growth or 51 | manufacture, the interest of the home consumer 52 | is evidently sacrificed to that of the 53 | producer. It is altogether for the benefit of 54 | the latter, that the former is obliged to pay 55 | that enhancement of price which this monopoly 56 | almost always occasions. 57 | 58 | It is altogether for the benefit of the producer, 59 | that bounties are granted upon the 60 | exportation of some of his productions. The 61 | home consumer is obliged to pay, first, the 62 | tax which is necessary for paying the bounty; 63 | and, secondly, the still greater tax which necessarily 64 | arises from the enhancement of the 65 | price of the commodity in the home market. 66 | 67 | By the famous treaty of commerce with 68 | Portugal, the consumer is prevented by high 69 | duties from purchasing of a neighbouring 70 | country, a commodity which our own climate 71 | does not produce; but is obliged to purchase 72 | it of a distant country, though it is acknowledged, 73 | that the commodity of the distant 74 | country is of a worse quality than that of the 75 | near one. The home consumer is obliged to 76 | submit to this inconvenience, in order that 77 | the producer may import into the distant 78 | country some of his productions, upon more 79 | advantageous terms than he otherwise would 80 | have been allowed to do. The consumer, too, 81 | is obliged to pay whatever enhancement in 82 | the price of those very productions this forced 83 | exportation may occasion in the home market. 84 | 85 | But in the system of laws which has been 86 | established for the management of our American 87 | and West Indies colonies, the interest of 88 | the home consumer has been sacrificed to that 89 | of the producer, which a more extravagant 90 | profusion than in all our other commercial 91 | regulations. A great empire has been established 92 | for the sole purpose of raising up a 93 | nation of customers, who should be obliged 94 | to buy, from the shops of our different producers, 95 | all the goods with which these could 96 | supply them. For the sake of that little enhancement 97 | of price which this monopoly 98 | might afford our producers, the home consumers 99 | have been burdened with the whole 100 | expense of maintaining and defending that 101 | empire. For this purpose, and for this purpose 102 | only, in the last two wars, more than 103 | two hundred millions have been spent, and a 104 | new debt of more than a hundred and seventy 105 | millions has been contracted, over and above 106 | all that had been expended for the same 107 | purpose in former wars. The interest of 108 | this debt alone is not only greater than the 109 | whole extraordinary profit which, it never 110 | could be pretended, was made by the monopoly 111 | of the colony trade, but than the whole 112 | value of that trade, or than the whole value 113 | of the goods which, at an average, have been 114 | annually exported to the colonies. 115 | 116 | It cannot be very difficult to determine who 117 | have been the contrivers of this whole mercantile 118 | system; not the consumers, we may 119 | believe, whose interest has been entirely neglected; 120 | but the producers, whose interest 121 | has been so carefully attended to; and among 122 | this latter class, our merchants and manufacturers 123 | have been by far the principal architects. 124 | In the mercantile regulations, which 125 | have been taken notice of in this chapter, the 126 | interest of our manufacturers has been most 127 | peculiarly attended to; and the interest, not 128 | so much of the consumers, as that of some 129 | other sets of producers, has been sacrificed 130 | to it. 131 | -------------------------------------------------------------------------------- /WoN1852-pages/302: -------------------------------------------------------------------------------- 1 | every cause, in order to increase, as much as 2 | possible, the produce of such a stamp-duty. 3 | It has been the custom in modern Europe to 4 | regulate, upon most occasions, the payment 5 | of the attorneys and clerks of court according 6 | to the number of pages which they had 7 | occasion to write; the court, however, requiring 8 | that each page should contain so 9 | many lines, and each line so many words. 10 | In order to increase their payment, the attorneys 11 | and clerks have contrived to multiply 12 | words beyond all necessity, to the corruption 13 | of the law language of, I believe, every court 14 | of justice in Europe. A like temptation 15 | might, perhaps, occasion a like corruption in 16 | the form of law proceedings. 17 | 18 | But whether the administration of justice 19 | be so contrived as to defray its own expense, 20 | or whether the judges be maintained by fixed 21 | salaries paid to them from some other fund, 22 | it does not seem necessary that the person or 23 | persons entrusted with the executive power 24 | should be charged with the management of 25 | that fund, or with the payment of those salaries. 26 | That fund might arise from the rent of 27 | landed estates, the management of each 28 | estate being entrusted to the particular court 29 | which was to be maintained by it. That 30 | fund might arise even from the interest of a 31 | sum of money, the lending out of which 32 | might, in the same manner, be entrusted to 33 | the court which was to be maintained by it. 34 | A part, though indeed but a small part of the 35 | salary of the judges of the court of session 36 | in Scotland, arises from the interest of a sum 37 | of money. The necessary instability of such 38 | a fund seems, however, to render it an improper 39 | one for the maintenance of an institution 40 | which ought to last for ever. 41 | 42 | The separation of the judicial from the 43 | executive power, seems originally to have 44 | arisen from the increasing business of the 45 | society, in consequence of its increasing improvement. 46 | The administration of justice 47 | became so laborious and so complicated a 48 | duty, as to require the undivided attention of 49 | the person to whom it was entrusted. The 50 | person entrusted with the executive power, 51 | not having leisure to attend to the decision 52 | of private causes himself, a deputy was appointed 53 | to decide them in his stead. In the 54 | progress of the Roman greatness, the consul 55 | was too much occupied with the political affairs 56 | of the state, to attend to the administration 57 | of justice. A prætor, therefore, was 58 | appointed to administer it in his stead. In 59 | the progress of the European monarchies, 60 | which were founded upon the ruins of the 61 | Roman empire, the sovereigns and the great 62 | lords came universally to consider the administration 63 | of justice as an office both too laborious 64 | and too ignoble for them to execute 65 | in their own persons. They universally, 66 | therefore, discharged themselves of it, by appointing 67 | a deputy, bailiff, or judge. 68 | 69 | When the judicial is united to the executive 70 | power, it is scarce possible that justice 71 | should not frequently be sacrificed to what is 72 | vulgarly called politics. The persons entrusted 73 | with the great interests of the state 74 | may even without any corrupt views, sometimes 75 | imagine it necessary to sacrifice to those 76 | interests the rights of a private man. But 77 | upon the impartial administration of justice 78 | depends the liberty of every individual, the 79 | sense which he has of his own security. In 80 | order to make every individual feel himself 81 | perfectly secure in the possession of every 82 | right which belongs to him, it is not only necessary 83 | that the judicial should be separated 84 | from the executive power, but that it should 85 | be rendered as much as possible independent 86 | of that power. The judge should not be 87 | liable to be removed from his office according 88 | to the caprice of that power. The regular 89 | payment of his salary should not depend upon 90 | the good will, or even upon the good economy 91 | of that power. 92 | 93 | 94 | PART III. 95 | 96 | Of the Expense of public Works and public Institutions. 97 | 98 | The third and last duty of the sovereign or 99 | commonwealth, is that of erecting and maintaining 100 | those public institutions and those 101 | public works, which though they may be in 102 | the highest degree advantageous to a great 103 | society, are, however, of such a nature, that 104 | the profit could never repay the expense to 105 | any individual, or small number of individuals; 106 | and which it, therefore, cannot be 107 | expected that any individual, or small number 108 | of individuals, should erect or maintain. 109 | The performance of this duty requires, too, 110 | very different degrees of expense in the different 111 | periods of society. 112 | 113 | After the public institutions and public 114 | works necessary for the defence of the society, 115 | and for the administration of justice, both of 116 | which have already been mentioned, the other 117 | works and institutions of this kind are chiefly 118 | for facilitating the commerce of the society, 119 | and those for promoting the instruction of 120 | the people. The institutions for instruction 121 | are of two kinds: those for the education of 122 | the youth, and those for the instruction of 123 | people of all ages. The consideration of the 124 | manner in which the expense of those different 125 | sorts of public works and institutions 126 | may be most properly defrayed will divide this 127 | third part of the present chapter into three 128 | different articles. 129 | 130 | -------------------------------------------------------------------------------- /WoN1852-pages/304: -------------------------------------------------------------------------------- 1 | the value of French money in the end 2 | of the last century) amounted to upwards of 3 | nine hundred thousand pounds sterling. 4 | When that great work was finished, the most 5 | likely method, it was found, of keeping it in 6 | constant repair, was to make a present of the 7 | tolls to Riquet, the engineer who planned 8 | and conducted the work. Those tolls constitute, 9 | at present, a very large estate to the 10 | different branches of the family of that gentleman, 11 | who have, therefore, a great interest 12 | to keep the work in constant repair. But had 13 | those tolls been put under the management 14 | of commissioners, who had no such interest, 15 | they might perhaps, have been dissipated in 16 | ornamental and unnecessary expenses, while 17 | the most essential parts of the works were allowed 18 | to go to ruin. 19 | 20 | The tolls for the maintenance of a high-road 21 | cannot, with any safety, be made the 22 | property of private persons. A high-road, 23 | though entirely neglected, does not become 24 | altogether impassable, though a canal does. 25 | The proprietors of the tolls upon a high-road, 26 | therefore, might neglect altogether the repair 27 | of the road, and yet continue to levy very 28 | nearly the same tolls. It is proper, therefore, 29 | that the tolls for the maintenance of such a 30 | work should be put under the management 31 | of commissioners or trustees. 32 | 33 | In Great Britain, the abuses which the very 34 | trustees have committed in the management 35 | of those tolls, have, in many cases, been very 36 | justly complained of. At many turnpikes, 37 | it has been said, the money levied is more 38 | than double of what is necessary for executing, 39 | in the completest manner, the work, 40 | which is often executed in a very slovenly 41 | manner, and sometimes not executed at all. 42 | The system of repairing the high-roads by 43 | tolls of this kind, it must be observed, is not 44 | of very long standing. We should not wonder, 45 | therefore, if it has not yet been brought 46 | that degree of perfection of which it seems 47 | capable. If mean and improper persons are 48 | frequently appointed trustees; and if proper 49 | courts of inspection and account have not yet 50 | been established for controlling their conduct, 51 | and for reducing the tolls to what is barely 52 | sufficient for executing the work to be done 53 | by them; the recency of the institution both 54 | accounts and apologizes for those defects, of 55 | which, by the wisdom of parliament, the 56 | greater part may, in due time, be gradually 57 | remedied. 58 | 59 | The money levied at the different turnpikes 60 | in Great Britain, is supposed to exceed so 61 | much what is necessary for repairing the 62 | roads, that the savings which, with proper 63 | economy, might be made from it, have been 64 | considered, even by some ministers, as a very 65 | great resource, which might, at some time or 66 | another, be applied to the exigencies of the 67 | state. Government, it has been said, by taking 68 | the management of the turnpikes into its 69 | own hands, and by employing the soldiers, 70 | who would work for a very small addition to 71 | their pay, could keep the roads in good order, 72 | at a much less expense than it can be done by 73 | trustees, who have no other workmen to employ, 74 | but such as derive their whole subsistence 75 | from their wages. A great revenue, 76 | half a million, perhaps[48], it has been pretended, 77 | might in this manner be gained, without 78 | laying any new burden upon the people; and 79 | the turnpike roads might be made to contribute 80 | to the general expense of the state, in 81 | the same manner as the post-office does at 82 | present. 83 | 84 | That a considerable revenue might be gained 85 | in this manner, I have no doubt, though 86 | probably not near so much as the projectors 87 | of this plan have supposed. The plan itself, 88 | however, seems liable to several very important 89 | objections. 90 | 91 | First, If the tolls which are levied at the 92 | turnpikes should ever be considered as one of 93 | the resources for supplying the exigencies of 94 | the state, they would certainly be augmented 95 | as those exigencies were supposed to require. 96 | According to the policy of Great Britain, 97 | therefore, they would probably be augmented 98 | very fast. The facility with which a great 99 | revenue could be drawn from them, would 100 | probably encourage administration to recur 101 | very frequently to this resource. Though it 102 | may, perhaps, be more than doubtful, whether 103 | half a million could by any economy be 104 | saved out of the present tolls, it can scarcely 105 | be doubted, but that a million might be saved 106 | out of them, if they were doubled; and perhaps 107 | two millions, if they were tripled[49]. This 108 | great revenue, too, might be levied without 109 | the appointment of a single new officer to collect 110 | and receive it. But the turnpike tolls, 111 | being continually augmented in this manner, 112 | instead of facilitating the inland commerce of 113 | the country, as at present, would soon become 114 | a very great incumbrance upon it. The 115 | expense of transporting all heavy goods from 116 | one part of the country to another, would 117 | soon be so much increased, the market for 118 | all such goods, consequently, would soon be 119 | so much narrowed, that their production 120 | would be in a great measure discouraged, 121 | and the most important branches of the domestic 122 | industry of the country annihilated altogether. 123 | 124 | Secondly, A tax upon carriages, in proportion 125 | to their weight, though a very equal 126 | tax when applied to the sole purpose of repairing 127 | the roads, is a very unequal one when 128 | -------------------------------------------------------------------------------- /WoN1852-pages/359: -------------------------------------------------------------------------------- 1 | the fiftieth part of its actual value. In some 2 | towns, the whole land tax is assessed upon 3 | houses; as in Westminster, where stock and 4 | trade are free. It is otherwise in London. 5 | 6 | In all countries, a severe inquisition into 7 | the circumstances of private persons has been 8 | carefully avoided. 9 | 10 | At Hamburg,[60] every inhabitant is obliged 11 | to pay to the state one fourth per cent. of all 12 | that he possesses; and as the wealth of the 13 | people of Hamburg consists principally in 14 | stock, this tax may be considered as a tax 15 | upon stock. Every man assesses himself, 16 | and, in the presence of the magistrate, puts 17 | annually into the public coffer a certain sum 18 | of money, which he declares upon oath, to be 19 | one fourth per cent. of all that he possesses, 20 | but without declaring what it amounts to, or 21 | being liable to any examination upon that 22 | subject. This tax is generally supposed to 23 | be paid with great fidelity. In a small republic, 24 | where the people have entire confidence 25 | in their magistrates, are convinced of 26 | the necessity of the tax for the support of the 27 | state, and believe that it will be faithfully applied 28 | to that purpose, such conscientious and 29 | voluntary payment may sometimes be expected. 30 | It is not peculiar to the people of Hamburg. 31 | 32 | The canton of Underwald, in Switzerland, 33 | is frequently ravaged by storms and inundations, 34 | and it is thereby exposed to extraordinary 35 | expenses. Upon such occasions the 36 | people assemble, and every one is said to 37 | declare with the greatest frankness what he is 38 | worth, in order to be taxed accordingly. At 39 | Zurich, the law orders, that in cases of necessity, 40 | every one should be taxed in proportion 41 | to his revenue; the amount of which he is 42 | obliged to declare upon oath. They have no 43 | suspicion, it is said, that any of their fellow-citizens 44 | will deceive them. At Basil, the 45 | principal revenue of the state arises from a 46 | small custom upon goods exported. All the 47 | citizens make oath, that they will pay every 48 | three months all the taxes imposed by law. 49 | All merchants, and even all inn-keepers, are 50 | trusted with keeping themselves the account 51 | of the goods which they sell, either within or 52 | without the territory. At the end of every 53 | three months, they send this account to the 54 | treasurer, with the amount of the tax computed 55 | at the bottom of it. It is not suspected 56 | that the revenue suffers by this confidence.[61] 57 | 58 | To oblige every citizen to declare publicly 59 | upon oath, the amount of his fortune, must 60 | not, it seems, in those Swiss cantons, be reckoned 61 | a hardship. At Hamburg it would 62 | be reckoned the greatest. Merchants engaged 63 | in the hazardous projects of trade, all 64 | tremble at the thoughts of being obliged, at 65 | all times, to expose the real state of their circumstances. 66 | The ruin of their credit, and 67 | the miscarriage of their projects, they foresee, 68 | would too often be the consequence. 69 | A sober and parsimonious people, who are 70 | strangers to all such projects, do not feel that 71 | they have occasion for any such concealment. 72 | 73 | In Holland, soon after the exaltation of 74 | the late prince of Orange to the stadtholdership, 75 | a tax of two per cent. or the fiftieth 76 | penny, as it was called, was imposed upon the 77 | whole substance of every citizen. Every citizen 78 | assessed himself, and paid his tax, in the 79 | same manner as at Hamburg, and it was in 80 | general supposed to have been paid with 81 | great fidelity. The people had at that time 82 | the greatest affection for their new government, 83 | which they had just established by a general 84 | insurrection. The tax was to be paid but 85 | once, in order to relieve the state in a particular 86 | exigency. It was, indeed, too heavy 87 | to be permanent. In a country where the 88 | market rate of interest seldom exceeds three 89 | per cent., a tax of two per cent. amounts to 90 | thirteen shillings and four pence in the 91 | pound, upon the highest neat revenue which 92 | is commonly drawn from stock. It is a tax 93 | which very few people could pay, without 94 | encroaching more or less upon their capitals. 95 | In a particular exigency, the people may, 96 | from great public zeal, make a great effort, 97 | and give up even a part of their capital, in 98 | order to relieve the state. But it is impossible 99 | that they should continue to do so for any 100 | considerable time; and if they did, the tax 101 | would soon ruin them so completely, as to 102 | render them altogether incapable of supporting 103 | the state. 104 | 105 | The tax upon stock, imposed by the land 106 | tax bill in England, though it is proportioned 107 | to the capital, is not intended to diminish or 108 | take away any part of that capital. It is 109 | meant only to be a tax upon the interest of 110 | money, proportioned to that upon the rent of 111 | land; so that when the latter is at four shillings 112 | in the pound, the former may be at four 113 | shillings in the pound too. The tax at Hamburg, 114 | and the still more moderate taxes of 115 | Underwald and Zurich, are meant, in the 116 | same manner, to be taxes, not upon the capital, 117 | but upon the interest or neat revenue of 118 | stock. That of Holland was meant to be a 119 | tax upon the capital. 120 | 121 | 122 | Taxes upon the Profit of particular Employments. 123 | 124 | In some countries, extraordinary taxes are 125 | imposed upon the profits of stock; sometimes 126 | when employed in particular branches of 127 | trade, and sometimes when employed in agriculture. 128 | 129 | Of the former kind, are in England, the 130 | -------------------------------------------------------------------------------- /WoN1852-pages/342: -------------------------------------------------------------------------------- 1 | and Great Britain. What may be the amount 2 | of the whole expense which the church, either 3 | of Berne, or of any other protestant canton, 4 | costs the state, I do not pretend to know. By 5 | a very exact account it appears, that, in 1755, 6 | the whole revenue of the clergy of the church 7 | of Scotland, including their glebe or church 8 | lands, and the rent of their manses or dwelling-houses, 9 | estimated according to a reasonable 10 | valuation, amounted only to L.68,514, 11 | 1s. 51⁄12d. This very moderate revenue affords 12 | a decent subsistence to nine hundred and forty-four 13 | ministers. The whole expense of the 14 | church, including what is occasionally laid out 15 | for the building and reparation of churches, 16 | and of the manses of ministers, cannot well 17 | be supposed to exceed eighty or eighty-five 18 | thousand pounds a-year. The most opulent 19 | church in Christendom does not maintain better 20 | the uniformity of faith, the fervour of devotion, 21 | the spirit of order, regularity, and austere 22 | morals, in the great body of the people, than 23 | this very poorly endowed church of Scotland. 24 | All the good effects, both civil and religious, 25 | which an established church can be supposed 26 | to produce, are produced by it as completely 27 | as by any other. The greater part of the protestant 28 | churches of Switzerland, which, in general, 29 | are not better endowed than the church 30 | of Scotland, produce those effects in a still 31 | higher degree. In the greater part of the 32 | protestant cantons, there is not a single person 33 | to be found, who does not profess himself 34 | to be of the established church. If he professes 35 | himself to be of any other, indeed, the 36 | law obliges him to leave the canton. But so 37 | severe, or, rather, indeed, so oppressive a law, 38 | could never have been executed in such free 39 | countries, had not the diligence of the clergy 40 | beforehand converted to the established church 41 | the whole body of the people, with the exception 42 | of, perhaps, a few individuals only. 43 | In some parts of Switzerland, accordingly, 44 | where, from the accidental union of a protestant 45 | and Roman catholic country, the conversion 46 | has not been so complete, both religions 47 | are not only tolerated, but established 48 | by law. 49 | 50 | The proper performance of every service 51 | seems to require, that its pay or recompence 52 | should be, as exactly as possible, proportioned 53 | to the nature of the service. If any service 54 | is very much underpaid, it is very apt to suffer 55 | by the meanness and incapacity of the 56 | greater part of those who are employed in it. 57 | If it is very much overpaid, it is apt to suffer, 58 | perhaps still more, by their negligence 59 | and idleness. A man of a large revenue, 60 | whatever may be his profession, thinks he 61 | ought to live like other men of large revenues; 62 | and to spend a great part of his time 63 | in festivity, in vanity, and in dissipation. 64 | But in a clergyman, this train of life not only 65 | consumes the time which ought to be employed 66 | in the duties of his function, but in the 67 | eyes of the common people, destroys almost 68 | entirely that sanctity of character, which can 69 | alone enable him to perform these duties with 70 | proper weight and authority. 71 | 72 | 73 | PART IV. 74 | 75 | Of the Expense of supporting the Dignity of 76 | the Sovereign. 77 | 78 | Over and above the expenses necessary for 79 | enabling the sovereign to perform his several 80 | duties, a certain expense is requisite for the 81 | support of his dignity. This expense varies, 82 | both with the different periods of improvement, 83 | and with the different forms of government. 84 | 85 | In an opulent and improved society, where 86 | all the different orders of people are growing 87 | every day more expensive in their houses, in 88 | their furniture, in their tables, in their dress, 89 | and in their equipage; it cannot well be expected 90 | that the sovereign should alone hold out 91 | against the fashion. He naturally, therefore, 92 | or rather necessarily, becomes more expensive 93 | in all those different articles too. His dignity 94 | even seems to require that he should become 95 | so. 96 | 97 | As, in point of dignity, a monarch is more 98 | raised above his subjects than the chief magistrate 99 | of any republic is ever supposed to 100 | be above his fellow-citizens; so a greater expense 101 | is necessary for supporting that higher 102 | dignity. We naturally expect more splendour 103 | in the court of a king, than in the mansion-house 104 | of a doge or burgo-master. 105 | 106 | 107 | CONCLUSION. 108 | 109 | The expense of defending the society, and 110 | that of supporting the dignity of the chief 111 | magistrate, are both laid out for the general 112 | benefit of the whole society. It is reasonable, 113 | therefore, that they should be defrayed 114 | by the general contribution of the whole society; 115 | all the different members contributing, 116 | as nearly as possible, in proportion to their respective 117 | abilities. 118 | 119 | The expense of the administration of justice, 120 | too, may no doubt be considered as laid 121 | out for the benefit of the whole society. There 122 | is no impropriety, therefore, in its being defrayed 123 | by the general contribution of the whole 124 | society. The persons, however, who give occasion 125 | to this expense, are those who, by their 126 | injustice in one way or another, make it necessary 127 | to seek redress or protection from the 128 | courts of justice. The persons, again, most 129 | immediately benefited by this expense, are 130 | those whom the courts of justice either restore 131 | to their rights, or maintain in their 132 | -------------------------------------------------------------------------------- /WoN1852-pages/227: -------------------------------------------------------------------------------- 1 | contains its full standard weight, the 2 | coinage costs nothing to any body; and if it 3 | is short of that weight, the coinage must always 4 | cost the difference between the quantity 5 | of bullion which ought to be contained in it, 6 | and that which actually is contained in it. 7 | 8 | The government, therefore, when it defrays 9 | the expense of coinage, not only incurs some 10 | small expense, but loses some small revenue 11 | which it might get by a proper duty; and 12 | neither the bank, nor any other private persons, 13 | are in the smallest degree benefited by 14 | this useless piece of public generosity. 15 | 16 | The directors of the bank, however, would 17 | probably be unwilling to agree to the imposition 18 | of a seignorage upon the authority of a 19 | speculation which promises them no gain, but 20 | only pretends to insure them from any loss. 21 | In the present state of the gold coin, and as 22 | long as it continues to be received by weight, 23 | they certainly would gain nothing by such a 24 | change. But if the custom of weighing the 25 | gold coin should ever go into disuse, as it is 26 | very likely to do, and if the gold coin should 27 | ever fall into the same state of degradation in 28 | which it was before the late recoinage, the 29 | gain, or more properly the savings, of the 30 | bank, in consequence of the imposition of a 31 | seignorage, would probably be very considerable. 32 | The bank of England is the only company 33 | which sends any considerable quantity 34 | of bullion to the mint, and the burden of the 35 | annual coinage falls entirely, or almost entirely, 36 | upon it. If this annual coinage had 37 | nothing to do but to repair the unavoidable 38 | losses and necessary wear and tear of the 39 | coin, it could seldom exceed fifty thousand, 40 | or at most a hundred thousand pounds. But 41 | when the coin is degraded below its standard 42 | weight, the annual coinage must, besides this, 43 | fill up the large vacuities which exportation 44 | and the melting pot are continually making 45 | in the current coin. It was upon this account, 46 | that during the ten or twelve years 47 | immediately preceding the late reformation of 48 | the gold coin, the annual coinage amounted, 49 | at an average, to more than L.850,000. But 50 | if there had been a seignorage of four or five 51 | per cent. upon the gold coin, it would probably, 52 | even in the state in which things then 53 | were, have put an effectual stop to the business 54 | both of exportation and of the melting 55 | pot. The bank, instead of losing every year 56 | about two and a half per cent. upon the bullion 57 | which was to be coined into more than 58 | eight hundred and fifty thousand pounds, or 59 | incurring an annual loss of more than twenty-one 60 | thousand two hundred and fifty pounds, 61 | would not probably have incurred the tenth 62 | part of that loss. 63 | 64 | The revenue allotted by parliament for defraying 65 | the expense of the coinage is but fourteen 66 | thousand pounds a-year; and the real 67 | expense which it costs the government, or the 68 | fees of the officers of the mint, do not, upon 69 | ordinary occasions, I am assured, exceed the 70 | half of that sum. The saving of so very small 71 | a sum, or even the gaining of another, which 72 | could not well be much larger, are objects 73 | too inconsiderable, it may be thought, to deserve 74 | the serious attention of government. 75 | But the saving of eighteen or twenty thousand 76 | pounds a-year, in case of an event which 77 | is not improbable, which has frequently happened 78 | before, and which in very likely to happen 79 | again, is surely an object which well deserves 80 | the serious attention, even of so great a 81 | company as the bank of England. 82 | 83 | Some of the foregoing reasonings and observations 84 | might, perhaps, have been more 85 | properly placed in those chapters of the first 86 | book which treat of the origin and use of 87 | money, and of the difference between the real 88 | and the nominal price of commodities. But 89 | as the law for the encouragement of coinage 90 | derives its origin from these vulgar prejudices 91 | which have been introduced by the mercantile 92 | system, I judged it more proper to reserve 93 | them for this chapter. Nothing could be more 94 | agreeable to the spirit of that system than a 95 | sort of bounty upon the production of money, 96 | the very thing which, it supposes, constitutes 97 | the wealth of every nation. It is one of its 98 | many admirable expedients for enriching the 99 | country. 100 | 101 | 102 | 103 | 104 | CHAP. VII. 105 | 106 | OF COLONIES. 107 | 108 | PART I. 109 | 110 | Of the Motives for Establishing New Colonies. 111 | 112 | The interest which occasioned the first settlement 113 | of the different European colonies in 114 | America and the West Indies, was not altogether 115 | so plain and distinct as that which directed 116 | the establishment of those of ancient 117 | Greece and Rome. 118 | 119 | All the different states of ancient Greece 120 | possessed, each of them, but a very small territory; 121 | and when the people in any one of 122 | them multiplied beyond what that territory 123 | could easily maintain, a part of them were 124 | sent in quest of a new habitation, in some remote 125 | and distant part of the world; the war-like 126 | neighbours who surrounded them on all 127 | sides, rendering it difficult for any of them to 128 | enlarge very much its territory at home. The 129 | colonies of the Dorians resorted chiefly to 130 | Italy and Sicily, which, in the times preceding 131 | the foundation of Rome, were inhabited 132 | by barbarous and uncivilized nations; those 133 | of the Ionians and Æolians, the two other 134 | great tribes of the Greeks, to Asia Minor and 135 | -------------------------------------------------------------------------------- /WoN1852-pages/135: -------------------------------------------------------------------------------- 1 | premium, or sell for somewhat more in the 2 | market than the quantity of gold or silver currency 3 | for which it was issued. Some people 4 | account in this manner for what is called the 5 | agio of the bank of Amsterdam, or for the superiority 6 | of bank money over current money, 7 | though this bank money, as they pretend, cannot 8 | be taken out of the bank at the will of the 9 | owner. The greater part of foreign bills of exchange 10 | must be paid in bank money, that is, by 11 | a transfer in the books of the bank, and the directors 12 | of the bank, they allege, are careful to 13 | keep the whole quantity of bank money always 14 | below what this use occasions a demand 15 | for. It is upon this account, they say, the 16 | bank money sells for a premium, or bears an 17 | agio of four or five per cent. above the same 18 | nominal sum of the gold and silver currency 19 | of the country. This account of the bank of 20 | Amsterdam, however, it will appear hereafter, 21 | is in a great measure chimerical. 22 | 23 | A paper currency which falls below the value 24 | of gold and silver coin, does not thereby 25 | sink the value of those metals, or occasion 26 | equal quantities of them to exchange for a 27 | smaller quantity of goods of any other kind. 28 | The proportion between the value of gold and 29 | silver and that of goods of any other kind, depends 30 | in all cases, not upon the nature and 31 | quantity of any particular paper money, which 32 | may be current in any particular country, but 33 | upon the richness or poverty of the mines, 34 | which happen at any particular time to supply 35 | the great market of the commercial world 36 | with those metals. It depends upon the proportion 37 | between the quantity of labour which 38 | is necessary in order to bring a certain quantity 39 | of gold and silver to market, and that 40 | which is necessary in order to bring thither a 41 | certain quantity of any other sort of goods. 42 | 43 | If bankers are restrained from issuing any 44 | circulating bank notes, or notes payable to 45 | the bearer, for less than a certain sum; and 46 | if they are subjected to the obligation of an 47 | immediate and unconditional payment of such 48 | bank notes as soon as presented, their trade 49 | may, with safety to the public, be rendered in 50 | all other respects perfectly free. The late 51 | multiplication of banking companies in both 52 | parts of the united kingdom, an event by 53 | which many people have been much alarmed, 54 | instead of diminishing, increases the security 55 | of the public. It obliges all of them to be 56 | more circumspect in their conduct, and, by 57 | not extending their currency beyond its due 58 | proportion to their cash, to guard themselves 59 | against those malicious runs, which the rivalship 60 | of so many competitors is always ready 61 | to bring upon them. It restrains the circulation 62 | of each particular company within a 63 | narrower circle, and reduces their circulating 64 | notes to a smaller number. By dividing the 65 | whole circulation into a greater number of 66 | parts, the failure of any one company, an accident 67 | which, in the course of things, must 68 | sometimes happen, becomes of less consequence 69 | to the public. This free competition, 70 | too, obliges all bankers to be more liberal 71 | in their dealings with their customers, lest 72 | their rivals should carry them away. In general, 73 | if any branch of trade, or any division 74 | of labour, be advantageous to the public, the 75 | freer and more general the competition, it will 76 | always be the more so. 77 | 78 | 79 | 80 | 81 | CHAP. III. 82 | 83 | OF THE ACCUMULATION OF CAPITAL, OR OF 84 | PRODUCTIVE AND UNPRODUCTIVE LABOUR. 85 | 86 | 87 | There is one sort of labour which adds to the 88 | value of the subject upon which it is bestowed; 89 | there is another which has no such effect. 90 | The former as it produces a value, may be 91 | called productive, the latter, unproductive[30] labour. 92 | Thus the labour of a manufacturer 93 | adds generally to the value of the materials 94 | which he works upon, that of his own maintenance, 95 | and of his master's profit. The labour 96 | of a menial servant, on the contrary, adds 97 | to the value of nothing. Though the manufacturer 98 | has his wages advanced to him by his 99 | master, he in reality costs him no expense, 100 | the value of those wages being generally restored, 101 | together with a profit, in the improved 102 | value of the subject upon which his labour is 103 | bestowed. But the maintenance of a menial 104 | servant never is restored. A man grows rich 105 | by employing a multitude of manufacturers; 106 | he grows poor by maintaining a multitude of 107 | menial servants. The labour of the latter, 108 | however, has its value, and deserves its reward 109 | as well as that of the former. But the 110 | labour of the manufacturer fixes and realizes 111 | itself in some particular subject or vendible 112 | commodity, which lasts for some time at least 113 | after that labour is past. It is, as it were, a 114 | certain quantity of labour stocked and stored 115 | up, to be employed, if necessary, upon some 116 | other occasion. That subject, or, what is the 117 | same thing, the price of that subject, can afterwards, 118 | if necessary, put into motion a 119 | quantity of labour equal to that which had 120 | originally produced it. The labour of the 121 | menial servant, on the contrary, does not fix 122 | or realize itself in any particular subject or 123 | vendible commodity. His services generally 124 | perish in the very instant of their performance, 125 | and seldom leave any trace of value behind 126 | them, for which an equal quantity of service 127 | could afterwards be procured. 128 | 129 | The labour of some of the most respectable 130 | -------------------------------------------------------------------------------- /WoN1852-pages/183: -------------------------------------------------------------------------------- 1 | exported again, either the whole or a part of 2 | this duty was sometimes given back upon such 3 | exportation. 4 | 5 | Bounties were given for the encouragement, 6 | either of some beginning manufactures, or of 7 | such sorts of industry of other kinds as were 8 | supposed to deserve particular favour. 9 | 10 | By advantageous treaties of commerce, particular 11 | privileges were procured in some foreign 12 | state for the goods and merchants of the 13 | country, beyond what were granted to those 14 | of other countries. 15 | 16 | By the establishment of colonies in distant 17 | countries, not only particular privileges, but 18 | a monopoly was frequently procured for the 19 | goods and merchants of the country which 20 | established them. 21 | 22 | The two sorts of restraints upon importation 23 | above mentioned, together with these four 24 | encouragements to exportation, constitute the 25 | six principal means by which the commercial 26 | system proposes to increase the quantity of 27 | gold and silver in any country, by turning the 28 | balance of trade in its favour. I shall consider 29 | each of them in a particular chapter, and, 30 | without taking much farther notice of their 31 | supposed tendency to bring money into the 32 | country, I shall examine chiefly what are 33 | likely to be the effects of each of them upon 34 | the annual produce of its industry. According 35 | as they tend either to increase or diminish 36 | the value of this annual produce, they 37 | must evidently tend either to increase or diminish 38 | the real wealth and revenue of the 39 | country. 40 | 41 | 42 | 43 | 44 | CHAP. II. 45 | 46 | OF RESTRAINTS UPON IMPORTATION FROM FOREIGN 47 | COUNTRIES OF SUCH GOODS AS CAN 48 | BE PRODUCED AT HOME. 49 | 50 | 51 | By restraining, either by high duties, or by 52 | absolute prohibitions, the importation of such 53 | goods from foreign countries as can be produced 54 | at home, the monopoly of the home 55 | market is more or less secured to the domestic 56 | industry employed in producing them. 57 | Thus the prohibition of importing either live 58 | cattle or salt provisions from foreign countries, 59 | secures to the graziers of Great Britain 60 | the monopoly of the home market for butcher's 61 | meat. The high duties upon the importation 62 | of corn, which, in times of moderate 63 | plenty, amount to a prohibition, give a like 64 | advantage to the growers of that commodity. 65 | The prohibition of the importation of foreign 66 | woollens is equally favourable to the woollen 67 | manufacturers. The silk manufacture, though 68 | altogether employed upon foreign materials, 69 | has lately obtained the same advantage. The 70 | linen manufacture has not yet obtained it, 71 | but is making great strides towards it. Many 72 | other sorts of manufactures have, in the same 73 | manner obtained in Great Britain, either altogether, 74 | or very nearly, a monopoly against 75 | their countrymen. The variety of goods, of 76 | which the importation into Great Britain is 77 | prohibited, either absolutely, or under certain 78 | circumstances, greatly exceeds what can easily 79 | be suspected by those who are not well 80 | acquainted with the laws of the customs. 81 | 82 | That this monopoly of the home market 83 | frequently gives great encouragement to that 84 | particular species of industry which enjoys it, 85 | and frequently turns towards that employment 86 | a greater share of both the labour and stock 87 | of the society than would otherwise have gone 88 | to it, cannot be doubted. But whether it 89 | tends either to increase the general industry 90 | of the society, or to give it the most advantageous 91 | direction, is not, perhaps, altogether 92 | so evident. 93 | 94 | The general industry of the society can 95 | never exceed what the capital of the society 96 | can employ. As the number of workmen 97 | that can be kept in employment by any particular 98 | person must bear a certain proportion 99 | to his capital, so the number of those 100 | that can be continually employed by all 101 | the members of a great society must bear a 102 | certain proportion to the whole capital of the 103 | society, and never can exceed that proportion. 104 | No regulation of commerce can increase the 105 | quantity of industry in any society beyond 106 | what its capital can maintain. It can only divert 107 | a part of it into a direction into which 108 | it might not otherwise have gone; and it is 109 | by no means certain that this artificial direction 110 | is likely to be more advantageous to the 111 | society, than that into which it would have 112 | gone of its own accord. 113 | 114 | Every individual is continually exerting 115 | himself to find out the most advantageous employment 116 | for whatever capital he can command. 117 | It is his own advantage, indeed, and 118 | not that of the society, which he has in view. 119 | But the study of his own advantage naturally, 120 | or rather necessarily, leads him to prefer that 121 | employment which is most advantageous to 122 | the society. 123 | 124 | First, every individual endeavours to employ 125 | his capital as near home as he can, and 126 | consequently as much as he can in the support 127 | of domestic industry, provided always 128 | that he can thereby obtain the ordinary, or not 129 | a great deal less than the ordinary profits of 130 | stock. 131 | 132 | Thus, upon equal, or nearly equal profits, 133 | every wholesale merchant naturally prefers the 134 | home trade to the foreign trade of consumption, 135 | and the foreign trade of consumption to 136 | the carrying trade. In the home trade, his 137 | capital is never so long out of his sight as it 138 | frequently is in the foreign trade of consumption. 139 | He can know better the character and 140 | situation of the persons whom he trusts; and 141 | -------------------------------------------------------------------------------- /WoN1852-pages/023: -------------------------------------------------------------------------------- 1 | would be of vastly greater value than that of 2 | the foregoing. But there is no country in 3 | which the whole annual produce is employed in 4 | maintaining the industrious. The idle everywhere 5 | consume a great part of it; and, according 6 | to the different proportions in which 7 | it is annually divided between these two different 8 | orders of people, its ordinary or average 9 | value must either annually increase or diminish, 10 | or continue the same from one year 11 | to another. 12 | 13 | 14 | 15 | 16 | CHAP. VII. 17 | 18 | OF THE NATURAL AND MARKET PRICE OF COMMODITIES. 19 | 20 | 21 | There is in every society or neighbourhood 22 | an ordinary or average rate, both of wages 23 | and profit, in every different employment of 24 | labour and stock. This rate is naturally regulated, 25 | as I shall show hereafter, partly by 26 | the general circumstances of the society, their 27 | riches or poverty, their advancing, stationary, 28 | or declining condition, and partly by the particular 29 | nature of each employment. 30 | 31 | There is likewise in every society or neighbourhood 32 | an ordinary or average rate of rent, 33 | which is regulated, too, as I shall shew hereafter, 34 | partly by the general circumstances of 35 | the society or neighbourhood in which the 36 | land is situated, and partly by the natural 37 | improved fertility of the land. 38 | 39 | These ordinary or average rates may be 40 | called the natural rates of wages, profit and 41 | rent, at the time and place in which they 42 | commonly prevail. 43 | 44 | When the price of any commodity is neither 45 | more nor less than what is sufficient to pay 46 | the rent of the land, the wages of the labour, 47 | and the profits of the stock employed in raising, 48 | preparing, and bringing it to market, according 49 | to their natural rates, the commodity 50 | is then sold for what may be called its natural 51 | price. 52 | 53 | The commodity is then sold precisely for 54 | what it is worth, or for what it really costs 55 | the person who brings it to market; for 56 | though, in common language, what is called 57 | the prime cost of any commodity does not 58 | comprehend the profit of the person who is 59 | sell it again, yet, if he sells it at a price which 60 | does not allow him the ordinary rate of profit 61 | in his neighbourhood, he is evidently a loser 62 | by the trade; since, by employing his stock 63 | in some other way, he might have made that 64 | profit. His profit, besides, is his revenue, 65 | the proper fund of his subsistence. As, 66 | while he is preparing and bringing the goods 67 | to market, he advances to his workmen their 68 | wages, or their subsistence, so he advances to 69 | himself, in the same manner, his own subsistence, 70 | which is generally suitable to the profit 71 | which he may reasonably expect from the sale 72 | of his goods. Unless they yield him this 73 | profit, therefore, they do not repay him what 74 | they may very properly be said to have really 75 | cost him. 76 | 77 | Though the price, therefore, which leaves 78 | him this profit, is not always the lowest at 79 | which a dealer may sometimes sell his goods, 80 | it is the lowest at which he is likely to sell 81 | them for any considerable time; at least 82 | where there is perfect liberty, or where he 83 | may change his trade as often as he pleases. 84 | 85 | The actual price at which any commodity is 86 | commonly sold, is called its market price. It 87 | may either be above, or below, or exactly the 88 | same with its natural price. 89 | 90 | The market price of every particular commodity 91 | is regulated by the proportion between 92 | the quantity which is actually brought to 93 | market, and the demand of those who are 94 | willing to pay the natural price of the commodity, 95 | or the whole value of the rent, labour, 96 | and profit, which must be paid in order to 97 | bring it thither, Such people may be called 98 | the effectual demanders, and their demand the 99 | effectual demand; since it may be sufficient 100 | to effectuate the bringing of the commodity 101 | to market. It is different from the absolute 102 | demand. A very poor man may be said, in 103 | some sense, to have a demand for a coach and 104 | six; he might like to have it; but his demand 105 | is not an effectual demand, as the commodity 106 | can never he brought to market in 107 | order to satisfy it. 108 | 109 | When the quantity of any commodity which 110 | is brought to market falls short of the effectual 111 | demand, all those who are willing to pay 112 | the whole value of the rent, wages, and profit, 113 | which must he paid in order to bring it thither, 114 | cannot be supplied with the quantity which 115 | they want. Rather than want it altogether, 116 | some of them will be willing to give more. A 117 | competition will immediately begin among 118 | them, and the market price will rise more or 119 | less above the natural price, according as 120 | either the greatness of the deficiency, or the 121 | wealth and wanton luxury of the competitors, 122 | happen to animate more or less the eagerness 123 | of the competition. Among competitors of 124 | equal wealth and luxury, the same deficiency 125 | will generally occasion a more or less eager 126 | competition, according as the acquisition of 127 | the commodity happens to be of more or less 128 | importance to them. Hence the exorbitant 129 | price of the necessaries of life during the 130 | blockade of a town, or in a famine. 131 | 132 | When the quantity brought to market exceeds 133 | the effectual demand, it cannot be all 134 | sold to those who are willing to pay the whole 135 | value of the rent, wages, and profit, which 136 | must be paid in order to bring it thither. 137 | Some part must be sold to those who are 138 | willing to pay less, and the low price which 139 | -------------------------------------------------------------------------------- /WoN1852-pages/205: -------------------------------------------------------------------------------- 1 | of the war which began in 1755, and 2 | which they brought back with them to the 3 | mother country, where that wine had not been 4 | much in fashion before. Upon the conclusion 5 | of that war, in 1763 (by the 4th Geo. III, 6 | chap. 15, sect. 12), all the duties except L.3, 7 | 10s. were allowed to be drawn back upon the 8 | exportation to the colonies of all wines, except 9 | French wines, to the commerce and consumption 10 | of which national prejudice would 11 | allow no sort of encouragement. The period 12 | between the granting of this indulgence and 13 | the revolt of our North American colonies, 14 | was probably too short to admit of any considerable 15 | change in the customs of those countries. 16 | 17 | The same act which, in the drawbacks upon 18 | all wines, except French wines, thus favoured 19 | the colonies so much more than other countries, 20 | in those upon the greater part of other 21 | commodities, favoured them much less. Upon 22 | the exportation of the greater part of commodities 23 | to other countries, half the old subsidy 24 | was drawn back. But this law enacted, 25 | that no part of that duty should be drawn 26 | back upon the exportation to the colonies of 27 | any commodities of the growth or manufacture 28 | either of Europe or the East Indies, except 29 | wines, white calicoes, and muslins. 30 | 31 | Drawbacks were, perhaps, originally granted 32 | for the encouragement of the carrying trade, 33 | which, as the freight of the ship is frequently 34 | paid by foreigners in money, was supposed to 35 | be peculiarly fitted for bringing gold and silver 36 | into the country. But though the carrying 37 | trade certainly deserves no peculiar encouragement, 38 | though the motive of the institution 39 | was, perhaps, abundantly foolish, the 40 | institution itself seems reasonable enough. 41 | Such drawbacks cannot force into this trade a 42 | greater share of the capital of the country than 43 | what would have gone to it of its own accord, 44 | had there been no duties upon importation; 45 | they only prevent its being excluded 46 | altogether by those duties. The carrying trade, 47 | though it deserves no preference, ought not 48 | to be precluded, but to be left free, like all 49 | other trades. It is a necessary resource to 50 | those capitals which cannot find employment, 51 | either in the agriculture or in the manufactures 52 | of the country, either in its home trade, 53 | or in its foreign trade of consumption. 54 | 55 | The revenue of the customs, instead of suffering, 56 | profits from such drawbacks, by that 57 | part of the duty which is retained. If the 58 | whole duties had been retained, the foreign 59 | goods upon which they are paid could seldom 60 | have been exported, nor consequently imported, 61 | for want of a market. The duties, 62 | therefore, of which a part is retained, would 63 | never have been paid. 64 | 65 | These reasons seem sufficiently to justify 66 | drawbacks, and would justify them, though 67 | the whole duties, whether upon the produce 68 | of domestic industry or upon foreign goods, 69 | were always drawn back upon exportation. 70 | The revenue of excise would, in this case indeed, 71 | suffer a little, and that of the customs a 72 | good deal more; but the natural balance of 73 | industry, the natural division and distribution 74 | of labour, which is always more or less disturbed 75 | by such duties, would be more nearly 76 | re-established by such a regulation. 77 | 78 | These reasons, however, will justify drawbacks 79 | only upon exporting goods to those 80 | countries which are altogether foreign and independent, 81 | not to those in which our merchants 82 | and manufacturers enjoy a monopoly. 83 | A drawback, for example, upon the exportation 84 | of European goods to our American colonies, 85 | will not always occasion a greater exportation 86 | than what would have taken place 87 | without it. By means of the monopoly which 88 | our merchants and manufacturers enjoy there, 89 | the same quantity might frequently, perhaps, 90 | be sent thither, though the whole duties were 91 | retained. The drawback, therefore, may frequently 92 | be pure loss to the revenue of excise 93 | and customs, without altering the state of the 94 | trade, or rendering it in any respect more extensive. 95 | How far such drawbacks can be justified 96 | as a proper encouragement to the industry 97 | of our colonies, or how far it is advantageous 98 | to the mother country that they should 99 | be exempted from taxes which are paid by 100 | all the rest of their fellow-subjects, will appear 101 | hereafter, when I come to treat of colonies. 102 | 103 | Drawbacks, however, it must always be understood, 104 | are useful only in those cases in 105 | which the goods, for the exportation of which 106 | they are given, are really exported to some 107 | foreign country, and not clandestinely re-imported 108 | into our own. That some drawbacks, 109 | particularly those upon tobacco, have frequently 110 | been abused in this manner, and have 111 | given occasion to many frauds, equally hurtful 112 | both to the revenue and to the fair trader, 113 | is well known. 114 | 115 | 116 | 117 | 118 | CHAP. V. 119 | 120 | OF BOUNTIES. 121 | 122 | 123 | Bounties upon exportation are, in Great Britain, 124 | frequently petitioned for, and sometimes 125 | granted, to the produce of particular branches 126 | of domestic industry. By means of them, our 127 | merchants and manufacturers, it is pretended, 128 | will be enabled to sell their goods as cheap or 129 | cheaper than their rivals in the foreign market. 130 | A greater quantity, it is said, will thus 131 | be exported, and the balance of trade consequently 132 | turned more in favour of our own 133 | country. We cannot give our workmen a monopoly 134 | in the foreign, as we have done in the 135 | -------------------------------------------------------------------------------- /WoN1852-pages/243: -------------------------------------------------------------------------------- 1 | 2 | 3 | PART III. 4 | 5 | Of the Advantages which Europe has derived 6 | from the Discovery of America, and from 7 | that of a Passage to the East Indies by the 8 | Cape of Good Hope. 9 | 10 | Such are the advantages which the colonies 11 | of America have derived from the policy of 12 | Europe. 13 | 14 | What are these which Europe has derived 15 | from the discovery and colonization of America? 16 | 17 | Those advantages may be divided, first, into 18 | the general advantages which Europe, considered 19 | as one great country, has derived from 20 | those great events; and, secondly, into the 21 | particular advantages which each colonizing 22 | country has derived from the colonies which 23 | particularly belong to it, in consequence of 24 | the authority or dominion which it exercises 25 | over them. 26 | 27 | The general advantages which Europe, considered 28 | as one great country, has derived from 29 | the discovery and colonization of America, 30 | consist, first, in the increase of its enjoyments; 31 | and, secondly, in the augmentation of its industry. 32 | 33 | The surplus produce of America imported 34 | into Europe, furnishes the inhabitants of this 35 | great continent with a variety of commodities 36 | which they could not otherwise have possessed; 37 | some for conveniency and use, some for 38 | pleasure, and some for ornament; and thereby 39 | contributes to increase their enjoyments. 40 | 41 | The discovery and colonization of America, 42 | it will readily be allowed, have contributed 43 | to augment the industry, first, of all 44 | the countries which trade to it directly, such 45 | as Spain, Portugal, France, and England; 46 | and, secondly, of all those which, without 47 | trading to it directly, send, through the 48 | medium of other countries, goods to it of their 49 | own produce, such as Austrian Flanders, and 50 | some provinces of Germany, which, through 51 | the medium of the countries before mentioned, 52 | send to it a considerable quantity of linen and 53 | other goods. All such countries have evidently 54 | gained a more extensive market for 55 | their surplus produce, and must consequently 56 | have been encouraged to increase its quantity. 57 | 58 | But that those great events should likewise 59 | have contributed to encourage the industry 60 | of countries such as Hungary and Poland, 61 | which may never, perhaps, have sent a single 62 | commodity of their own produce to America, 63 | is not, perhaps, altogether so evident. That 64 | those events have done so, however, cannot 65 | be doubted. Some part of the produce of 66 | America is consumed in Hungary and Poland, 67 | and there in some demand there for the 68 | sugar, chocolate, and tobacco, of that new 69 | quarter of the world. But those commodities 70 | must be purchased with something which is 71 | either the produce of the industry of Hungary 72 | and Poland, or with something which had 73 | been purchased with some part of that produce. 74 | Those commodities of America are 75 | new values, new equivalents, introduced into 76 | Hungary and Poland, to be exchanged there 77 | for the surplus produce of these countries. 78 | By being carried thither, they create a new 79 | and more extensive market for that surplus 80 | produce. They raise its value, and thereby 81 | contribute to encourage its increase. Though 82 | no part of it may ever be carried to America, 83 | it may be carried to other countries, which 84 | purchase it with a part of their share of the 85 | surplus produce of America, and it may find 86 | a market by means of the circulation of that 87 | trade which was originally put into motion 88 | by the surplus produce of America. 89 | 90 | Those great events may even have contributed 91 | to increase the enjoyments, and to augment 92 | the industry, of countries which not only 93 | never sent any commodities to America, but 94 | never received any from it. Even such countries 95 | may have received a greater abundance 96 | of other commodities from countries, of which 97 | the surplus produce had been augmented by 98 | means of the American trade. This greater 99 | abundance, as it must necessarily have increased 100 | their enjoyments, so it must likewise 101 | have augmented their industry. A greater 102 | number of new equivalents, of some kind or 103 | other, must have been presented to them to 104 | be exchanged for the surplus produce of that 105 | industry. A more extensive market must 106 | have been created for that surplus produce, so 107 | as to raise its value, and thereby encourage 108 | its increase. The mass of commodities annually 109 | thrown into the great circle of European 110 | commerce, and by its various revolutions 111 | annually distributed among all the different 112 | nations comprehended within it, must have 113 | been augmented by the whole surplus produce 114 | of America. A greater share of this 115 | greater mass, therefore, is likely to have fallen 116 | to each of those nations, to have increased 117 | their enjoyments, and augmented their industry. 118 | 119 | The exclusive trade of the mother countries 120 | tends to diminish, or at least to keep down below 121 | what they would otherwise rise to, both 122 | the enjoyments and industry of all those nations 123 | in general, and of the American colonies 124 | in particular. It is a dead weight upon the 125 | action of one of the great springs which puts 126 | into motion a great part of the business of 127 | mankind. By rendering the colony produce 128 | dearer in all other countries, it lessens its consumption, 129 | and thereby cramps the industry of 130 | the colonies, and both the enjoyments and the 131 | industry or all other countries, which both enjoy 132 | less when they pay more for what they enjoy, 133 | and produce less when they get less for 134 | what they produce. By rendering the produce 135 | -------------------------------------------------------------------------------- /WoN1852-pages/222: -------------------------------------------------------------------------------- 1 | with regard to wheat, the home market 2 | is thus opened to foreign supplies, at prices 3 | considerably lower than before. 4 | 5 | By the same statute, the old bounty of 5s. 6 | upon the exportation of wheat, ceases so soon 7 | as the price rises to 44s. the quarter, instead 8 | of 48s. the price at which it ceased before; 9 | that of 2s. 6d. upon the exportation of barley, 10 | ceases so soon as the price rises to 22s. 11 | instead of 24s. the price at which it ceased before; 12 | that of 2s. 6d. upon the exportation of 13 | oatmeal, ceases so soon as the price rises to 14 | 14s. instead of 15s. the price at which it ceased 15 | before. The bounty upon rye is reduced 16 | from 3s. 6d. to 3s. and it ceases so soon as 17 | the price rises to 28s. instead of 32s. the price 18 | at which it ceased before. If bounties are as 19 | improper as I have endeavoured to prove 20 | them to be, the sooner they cease, and the 21 | lower they are, so much the better. 22 | 23 | The same statute permits, at the lowest 24 | prices, the importation of corn in order to be 25 | exported again, duty free, provided it is in the 26 | mean time lodged in a warehouse under the 27 | joint locks of the king and the importer. This 28 | liberty, indeed, extends to no more than 29 | twenty-five of the different parts of Great 30 | Britain. They are, however, the principal 31 | ones; and there may not, perhaps, be warehouses 32 | proper for this purpose in the greater 33 | part of the others. 34 | 35 | So far this law seems evidently an improvement 36 | upon the ancient system. 37 | 38 | But by the same law, a bounty of 2s. the 39 | quarter is given for the exportation of oats, 40 | whenever the price does not exceed fourteen 41 | shillings. No bounty had ever been given 42 | before for the exportation of this grain, no 43 | more than for that of pease or beans. 44 | 45 | By the same law, too, the exportation of 46 | wheat is prohibited so soon as the price rises 47 | to forty-four shillings the quarter; that of 48 | rye so soon as it rises to twenty-eight shillings; 49 | that of barley so soon as it rises to 50 | twenty-two shillings; and that of oats so soon 51 | as they rise to fourteen shillings. Those several 52 | prices seem all of them a good deal too 53 | low; and there seems to be an impropriety, 54 | besides, in prohibiting exportation altogether 55 | at those precise prices at which that bounty, 56 | which was given in order to force it, is withdrawn. 57 | The bounty ought certainly either to 58 | have been withdrawn at a much lower price, 59 | or exportation ought to have been allowed at 60 | a much higher. 61 | 62 | So far, therefore, this law seems to be inferior 63 | to the ancient system. With all its 64 | imperfections, however, we may perhaps say 65 | of it what was said of the laws of Solon, that 66 | though not the best in itself, it is the best 67 | which the interest, prejudices, and temper of 68 | the times, would admit of. It may perhaps 69 | in due time prepare the way for a better. 70 | 71 | 72 | 73 | 74 | CHAP. VI. 75 | 76 | OF TREATIES OF COMMERCE. 77 | 78 | 79 | When a nation binds itself by treaty, either 80 | to permit the entry of certain goods from one 81 | foreign country which it prohibits from all 82 | others, or to exempt the goods of one country 83 | from duties to which it subjects those of 84 | all others, the country, or at least the merchants 85 | and manufacturers of the country, 86 | whose commerce is so favoured, must necessarily 87 | derive great advantage from the treaty. 88 | Those merchants and manufacturers enjoy a 89 | sort of monopoly in the country which is so 90 | indulgent to them. That country becomes a 91 | market, both more extensive and more advantageous 92 | for their goods: more extensive, because 93 | the goods of other nations being either 94 | excluded or subjected to heavier duties, it 95 | takes off a greater quantity of theirs; more 96 | advantageous, because the merchants of the 97 | favoured country, enjoying a sort of monopoly 98 | there, will often sell their goods for a better 99 | price than if exposed to the free competition 100 | of all other nations. 101 | 102 | Such treaties, however, though they may be 103 | advantageous to the merchants and manufacturers 104 | of the favoured, are necessarily disadvantageous 105 | to those of the favouring country. 106 | A monopoly is thus granted against them to 107 | a foreign nation; and they must frequently 108 | buy the foreign goods they have occasion for, 109 | dearer than if the free competition of other 110 | nations was admitted. That part of its own 111 | produce with which such a nation purchases 112 | foreign goods, must consequently be sold 113 | cheaper; because, when two things are exchanged 114 | for one another, the cheapness of the 115 | one is a necessary consequence, or rather is 116 | the same thing, with the dearness of the other. 117 | The exchangeable value of its annual produce, 118 | therefore, is likely to be diminished by 119 | every such treaty. This diminution, however, 120 | can scarce amount to any positive loss, 121 | but only to a lessening of the gain which it 122 | might otherwise make. Though it sells its 123 | goods cheaper than it otherwise might do, it 124 | will not probably sell them for less than they 125 | cost; nor, as in the case of bounties, for a 126 | price which will not replace the capital employed 127 | in bringing them to market, together 128 | with the ordinary profits of stock. The trade 129 | could not go on long if it did. Even the favouring 130 | country, therefore, may still gain by 131 | the trade, though less than if there was a free 132 | competition. 133 | 134 | Some treaties of commerce, however, have 135 | been supposed advantageous, upon principles 136 | very different from these; and a commercial 137 | country has sometimes granted a monopoly of 138 | -------------------------------------------------------------------------------- /WoN1852-pages/266: -------------------------------------------------------------------------------- 1 | or even example, seems to have formed in 2 | them all at once the great qualities which it 3 | required, and to have inspired them both with 4 | abilities and virtues which they themselves 5 | could not well know that they possessed. If 6 | upon some occasions, therefore, it has animated 7 | them to actions of magnanimity which 8 | could not well have been expected from them, 9 | we should not wonder if, upon others, it has 10 | prompted them to exploits of somewhat a 11 | different nature. 12 | 13 | Such exclusive companies, therefore, are 14 | nuisances in every respect; always more or 15 | less inconvenient to the countries in which 16 | they are established, and destructive to those 17 | which have the misfortune to fall under their 18 | government. 19 | 20 | 21 | 22 | 23 | CHAP. VIII. 24 | 25 | CONCLUSION OF THE MERCANTILE SYSTEM. 26 | 27 | 28 | Though the encouragement of exportation, 29 | and the discouragement of importation, are 30 | the two great engines by which the mercantile 31 | system proposes to enrich every country, 32 | yet, with regard to some particular commodities, 33 | it seems to follow an opposite plan: to 34 | discourage exportation, and to encourage 35 | importation. Its ultimate object, however, it 36 | pretends, is always the same, to enrich the 37 | country by an advantageous balance of trade. 38 | It discourages the exportation of the materials 39 | of manufacture, and of the instruments of 40 | trade, in order to give our own workmen an advantage, 41 | and to enable them to undersell those 42 | of other nations in all foreign markets; and 43 | by restraining, in this manner, the exportation 44 | of a few commodities, of no great price, it 45 | proposes to occasion a much greater and more 46 | valuable exportation of others. It encourages 47 | the importation of the materials of manufacture, 48 | in order that our own people may be 49 | enabled to work them up more cheaply, and 50 | thereby prevent a greater and more valuable 51 | importation of the manufactured commodities. 52 | I do not observe, at least in our statute book, 53 | any encouragement given to the importation 54 | of the instruments of trade. When manufactures 55 | have advanced to a certain pitch of 56 | greatness, the fabrication of the instruments 57 | of trade becomes itself the object of a great 58 | number of very important manufactures. To 59 | give any particular encouragement to the importation 60 | of such instruments, would interfere 61 | too much with the interest of those manufactures. 62 | Such importation, therefore, instead 63 | of being encouraged, has frequently been 64 | prohibited. Thus the importation of wool cards, 65 | except from Ireland, or when brought in as 66 | wreck or prize goods, was prohibited by the 67 | 3d of Edward IV.; which prohibition was renewed 68 | by the 39th of Elizabeth, and has been 69 | continued and rendered perpetual by subsequent 70 | laws. 71 | 72 | The importation of the materials of manufacture 73 | has sometimes been encouraged by 74 | an exemption from the duties to which other 75 | goods are subject, and sometimes by bounties. 76 | 77 | The importation of sheep's wool from several 78 | different countries, of cotton wool from all 79 | countries, of undressed flax, of the greater 80 | part of dyeing drugs, of the greater part of 81 | undressed hides from Ireland, or the British 82 | colonies, of seal skins from the British Greenland 83 | fishery, of pig and bar iron from the 84 | British colonies, as well as of several other 85 | materials of manufacture, has been encouraged 86 | by an exemption from all duties, if properly 87 | entered at the custom-house. The private 88 | interest of our merchants and manufacturers 89 | may, perhaps, have extorted from the 90 | legislature these exemptions, as well as the 91 | greater part of our other commercial regulations. 92 | They are, however, perfectly just and 93 | reasonable; and if, consistently with the necessities 94 | of the state, they could be extended 95 | to all the other materials of manufacture, the 96 | public would certainly be a gainer. 97 | 98 | The avidity of our great manufacturers, 99 | however, has in some cases extended these 100 | exemptions a good deal beyond what can justly 101 | be considered as the rude materials of their 102 | work. By the 24th Geo. II. chap. 46, a 103 | small duty of only 1d. the pound was imposed 104 | upon the importation of foreign brown 105 | linen yarn, instead of much higher duties, to 106 | which it had been subjected before, viz. of 6d. 107 | the pound upon sail yarn, of 1s. the pound 108 | upon all French and Dutch yarn, and of 109 | L.2 : 13 : 4 upon the hundred weight of all 110 | spruce or Muscovia yarn. But our manufacturers 111 | were not long satisfied with this reduction: 112 | by the 29th of the same king, 113 | chap. 15, the same law which gave a bounty 114 | upon the exportation of British and Irish 115 | linen, of which the price did not exceed 18d. 116 | the yard, even this small duty upon the importation 117 | of brown linen yarn was taken away. 118 | In the different operations, however, which 119 | are necessary for the preparation of linen 120 | yarn, a good deal more industry is employed, 121 | than in the subsequent operation of preparing 122 | linen cloth from linen yarn. To say nothing 123 | of the industry of the flax-growers and flax-dressers, 124 | three or four spinners at least are 125 | necessary in order to keep one weaver in constant 126 | employment; and more than four-fifths 127 | of the whole quantity of labour necessary for 128 | the preparation of linen cloth, is employed in 129 | that of linen yarn; but our spinners are poor 130 | people; women commonly scattered about in 131 | all different parts of the country, without support 132 | or protection. It is not by the sale of 133 | their work, but by that of the complete work 134 | -------------------------------------------------------------------------------- /WoN1852-pages/363: -------------------------------------------------------------------------------- 1 | property of all kinds from the dead to the 2 | living, and upon those transferring immoveable 3 | property from the living to the living; 4 | transactions which might easily have been 5 | taxed directly. 6 | 7 | The vicesima hereditatum, or the twentieth 8 | penny of inheritances, imposed by Augustus 9 | upon the ancient Romans, was a tax upon 10 | the transference of property from the dead to 11 | the living. Dion Cassius,[63] the author who 12 | writes concerning it the least indistinctly, 13 | says, that it was imposed upon all successions, 14 | legacies and donations, in case of death, except 15 | upon those to the nearest relations, and 16 | to the poor. 17 | 18 | Of the same kind is the Dutch tax upon 19 | successions.[64] Collateral successions are taxed 20 | according to the degree of relation, from 21 | five to thirty per cent. upon the whole value 22 | of the succession. Testamentary donations, 23 | or legacies to collaterals, are subject to the 24 | like duties. Those from husband to wife, or 25 | from wife to husband, to the fiftieth penny. 26 | The luctuosa hereditas, the mournful succession 27 | of ascendants to descendants, to the 28 | twentieth penny only. Direct successions, 29 | or those of descendants to ascendants, pay no 30 | tax. The death of a father, to such of his 31 | children as live in the same house with him, 32 | is seldom attended with any increase, and frequently 33 | with a considerable diminution of 34 | revenue; by the loss of his industry, of his 35 | office, or of some life-rent estate, of which he 36 | may have been in possession. That tax 37 | would be cruel and oppressive, which aggravated 38 | their loss, by taking from them any 39 | part of his succession. It may, however, 40 | sometimes be otherwise with those children, 41 | who, in the language of the Roman law, are 42 | said to be emancipated; in that of the Scotch 43 | law, to be foris-familiated; that is, who have 44 | received their portion, have got families of 45 | their own, and are supported by funds separate 46 | and independent of those of their father. 47 | Whatever part of his succession might come 48 | to such children, would be a real addition to 49 | their fortune, and might, therefore, perhaps, 50 | without more inconveniency than what attends 51 | all duties of this kind, be liable to some 52 | tax. 53 | 54 | The casualties of the feudal law were taxes 55 | upon the transference of land, both from the 56 | dead to the living, and from the living to the 57 | living. In ancient times, they constituted, 58 | in every part of Europe, one of the principal 59 | branches of the revenue of the crown. 60 | 61 | The heir of every immediate vassal of the 62 | crown paid a certain duty, generally a year's 63 | rent, upon receiving the investiture of the 64 | estate. If the heir was a minor, the whole 65 | rents of the estate, during the continuance of 66 | the minority, devolved to the superior, without 67 | any other charge besides the maintenance of 68 | the minor, and the payment of the widow's 69 | dower, when there happened to be a dowage 70 | upon the land. When the minor came to be 71 | of age, another tax, called relief, was still due 72 | to the superior, which generally amounted 73 | likewise to a year's rent. A long minority, 74 | which, in the present times, so frequently disburdens 75 | a great estate of all its incumbrances, 76 | and restores the family to their ancient splendour, 77 | could in those times have no such effect. 78 | The waste, and not the disincumbrance of 79 | the estate, was the common effect of a long 80 | minority. 81 | 82 | By a feudal law, the vassal could not alienate 83 | without the consent of his superior, who 84 | generally extorted a fine or composition on 85 | granting it. This fine, which was at first arbitrary, 86 | came, in many countries, to be regulated 87 | at a certain portion of the price of the 88 | land. In some countries, where the greater 89 | part of the other feudal customs have gone 90 | into disuse, this tax upon the alienation of 91 | land still continues to make a very considerable 92 | branch of the revenue of the sovereign. 93 | In the canton of Berne it is so high as a sixth 94 | part of the price of all noble fiefs, and a tenth 95 | part of that of all ignoble ones.[65] In the canton 96 | of Lucern, the tax upon the sale of land is 97 | not universal, and takes place only in certain 98 | districts. But if any person sells his land in 99 | order to remove out of the territory, he pays 100 | ten per cent. upon the whole price of the 101 | sale.[66] Taxes of the same kind, upon the 102 | sale either of all lands, or of lands held by 103 | certain tenures, take place in many other 104 | countries, and make a more or less considerable 105 | branch of the revenue of the sovereign. 106 | 107 | Such transactions may be taxed indirectly, 108 | by means either of stamp duties, or of duties 109 | upon registration; and those duties either 110 | may, or may not, be proportioned to the value 111 | of the subject which is transferred. 112 | 113 | In Great Britain, the stamp duties are 114 | higher or lower, not so much according to 115 | the value of the property transferred (an 116 | eighteen-penny or half-crown stamp being 117 | sufficient upon a bond for the largest sum of 118 | money), as according to the nature of the 119 | deed. The highest do not exceed six pounds 120 | upon every sheet of paper, or skin of parchment; 121 | and these high duties fall chiefly upon 122 | grants from the crown, and upon certain law 123 | proceedings, without any regard to the value 124 | of the subject. There are, in Great Britain, 125 | no duties on the registration of deeds or writings, 126 | except the fees of the officers who keep 127 | the register; and these are seldom more than 128 | a reasonable recompense for their labour. 129 | The crown derives no revenue from them. 130 | -------------------------------------------------------------------------------- /WoN1852-pages/162: -------------------------------------------------------------------------------- 1 | stock is likely to go from any other profession 2 | to the improvement of land in the way of 3 | farming. More does, perhaps, in Great Britain 4 | than in any other country, though even 5 | there the great stocks which are in some places 6 | employed in farming, have generally been acquired 7 | by farming, the trade, perhaps, in which, 8 | of all others, stock is commonly acquired most 9 | slowly. After small proprietors, however, 10 | rich and great farmers are in every country 11 | the principal improvers. There are more such, 12 | perhaps, in England than in any other European 13 | monarchy. In the republican governments 14 | of Holland, and of Berne in Switzerland, 15 | the farmers are said to be not inferior to those 16 | of England. 17 | 18 | The ancient policy of Europe was, over and 19 | above all this, unfavourable to the improvement 20 | and cultivation of land, whether carried 21 | on by the proprietor or by the farmer; first, 22 | by the general prohibition of the exportation 23 | of corn, without a special licence, which seems 24 | to have been a very universal regulation; and, 25 | secondly, by the restraints which were laid upon 26 | the inland commerce, not only of corn, but 27 | of almost every other part of the produce of 28 | the farm, by the absurd laws against engrossers, 29 | regraters, and forestallers, and by the privileges 30 | of fairs and markets. It has already 31 | been observed in what manner the prohibition 32 | of the exportation of corn, together with some 33 | encouragement given to the importation of foreign 34 | corn, obstructed the cultivation of ancient 35 | Italy, naturally the most fertile country 36 | in Europe, and at that time the seat of the 37 | greatest empire in the world. To what degree 38 | such restraints upon the inland commerce 39 | of this commodity, joined to the general prohibition 40 | of exportation, must have discouraged 41 | the cultivation of countries less fertile, and 42 | less favourably circumstanced, it is not, perhaps, 43 | very easy to imagine. 44 | 45 | 46 | 47 | 48 | CHAP. III. 49 | 50 | OF THE RISE AND PROGRESS OF CITIES AND 51 | TOWNS, AFTER THE FALL OF THE ROMAN 52 | EMPIRE. 53 | 54 | 55 | The inhabitants of cities and towns were, after 56 | the fall of the Roman empire, not more 57 | favoured than those of the country. They 58 | consisted, indeed, of a very different order of 59 | people from the first inhabitants of the ancient 60 | republics of Greece and Italy. These 61 | last were composed chiefly of the proprietors 62 | of lands, among whom the public territory 63 | was originally divided, and who found it convenient 64 | to build their houses in the neighbourhood 65 | of one another, and to surround 66 | them with a wall, for the sake of common defence. 67 | After the fall of the Roman empire, 68 | on the contrary, the proprietors of land seem 69 | generally to have lived in fortified castles on 70 | their own estates, and in the midst of their 71 | own tenants and dependents. The towns were 72 | chiefly inhabited by tradesmen and mechanics, 73 | who seem, in those days, to have been of servile, 74 | or very nearly of servile condition. The 75 | privileges which we find granted by ancient 76 | charters to the inhabitants of some of the principal 77 | towns in Europe, sufficiently show what 78 | they were before those grants. The people 79 | to whom it is granted as a privilege, that they 80 | might give away their own daughters in marriage 81 | without the consent of their lord, that 82 | upon their death their own children, and not 83 | their lord, should succeed to their goods, and 84 | that they might dispose of their own effects by 85 | will, must, before those grants, have been either 86 | altogether, or very nearly, in the same 87 | state of villanage with the occupiers of land 88 | in the country. 89 | 90 | They seem, indeed, to have been a very 91 | poor, mean set of people, who seemed to travel 92 | about with their goods from place to place 93 | and from fair to fair, like the hawkers and 94 | pedlars of the present times. In all the different 95 | countries of Europe then, in the same 96 | manner as in several of the Tartar governments 97 | of Asia at present, taxes used to be levied 98 | upon the persons and goods of travellers, 99 | when they passed through certain manors, 100 | when they went over certain bridges, when 101 | they carried about their goods from place to 102 | place in a fair, when they erected in it a booth 103 | or stall to sell them in. These different taxes 104 | were known in England by the names of passage, 105 | pontage, lastage, and stallage. Sometimes 106 | the king, sometimes a great lord, who 107 | had, it seems, upon some occasions, authority 108 | to do this, would grant to particular traders, 109 | to such particularly as lived in their own demesnes, 110 | a general exemption from such taxes. 111 | Such traders, though in other respects of servile, 112 | or very nearly of servile condition, were 113 | upon this account called free traders. They, 114 | in return, usually paid to their protector a 115 | sort of annual poll-tax. In those days protection 116 | was seldom granted without a valuable 117 | consideration, and this tax might perhaps 118 | be considered as compensation for what their 119 | patrons might lose by their exemption from 120 | other taxes. At first, both those poll-taxes 121 | and those exemptions seem to have been altogether 122 | personal, and to have affected only particular 123 | individuals, during either their lives, or 124 | the pleasure of their protectors. In the very 125 | imperfect accounts which have been published 126 | from Doomsday-book, of several of the towns 127 | of England, mention is frequently made, sometimes 128 | of the tax which particular burghers 129 | paid, each of them, either to the king, or to 130 | some other great lord, for this sort of protection, 131 | --------------------------------------------------------------------------------