Lectures on the Elements of Political Economy

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1826 edition. Excerpt: ... healthy population.--If articles before scare and dear, and confined to the few, are brought within the purchase of the many--and the comforts, conveniences and pleasures of life made procurable at a cheaper rate--it is enough. We ought to be contented with snrh a result, although it be attended for a short lime with an amount of evil which we are unable compleately to provide against. CHAPTER 20. OF GOVERNMENTAL ENCOURAGEMENTS Of Manufacture and Commerce by Prohibitions, Restrictions, and Imposts on Particular Importations. Suppose, at the debates on the framing of our federal constitution, or the constitution of any of our individual states, a member of tlie convention had gotten up and proposed that the legislature should have the power whenever it saw fit, to protect the industry of one class of the citizens at the expence of all the rest: or to grant exclusive privileges to one class at the expence of all the rest: would such a proposition have been carried? Or to prohibit the merchant from his accustomed trade, because some other citizens could not profitably commence a manufacture without this prohibition: or to tax the community generally in favour of any manufacturer whose business would be a losing concern without such a contribution in his favour? And should propose that these regulations should take place, whenever the general welfare of the community seemed in the opinion of Congress to The improvements by machinery may be partly estimated from the following instances: The printing press was introduced into Paris in the reign of Lou. XI: it soon turned six thousand copiests out of employ, In Paris there are now sixty thousand persons who live by printing. The stocking frame superceded nine tenths of the former labour. Thn...