public faith, as long as capital and labour reside in the country, just as fairly as it may levy a tax for those working expenses of government, the benefit of which reverts, or is supposed to revert, immediately to the taxpayer. It remains then that the ultimate pledge given as a security for public debts is land, and capital fixed upon land, and that the repayment of the principal of the public debt would be the release of land from an obligation, to which it is none the less liable, because the annual incidence of the obligation has been shifted to other kinds of property. INDEX. A. Agricultural labourers, trades-union Alcohol, needed to manufacture Antiquity, trade of, unrecorded, Appropriation, necessary condition Art, education in, its value, 115. Australia, rate of interest in, 143; its temporary adoption of the Wakefield scheme, 256; rate of taxation in, 280. B. Bacon, error of, in relation to voluntary contracts, 4. 107. Bargains, hard, in what they consist, 3. Barley, relative value of, to wheat and oats, 19. Bastiat, refers to socialist views Bavaria, restraints on marriage in, Bentham, his defence of usury, 140; Board of Trade, its experiments on Books, old, price of, 190. Bread, loaf of, distribution of price of, 47. Bricks, effect of tax on, 289. Briggs, Mr. H., his experience with colliers, 109. Building trades, trades-unions in, 94. Burdens, peculiar, meaning of phrase, 98. C. Canada, relations of, to U. S., closer than to England, 254. Capital, rude forms of, origin of, 49; loosely defined, 50; must be replaced, 51; derivation of name, 53; origin of, employment of, 54; its relations to labour, its profits, 56; accumulations of, 57; illustrations of its growth or diminution, 61; under what conditions employed, 195; distribution of, 214; profits of, on equal conditions equal, ib.; destination of wealth as, determined by the owner, 281. Carriage, cost of, element in price, 17. Carrying trade, effects of, 246. Cash payments in 1821, resumption of, 307. Celtic, ancient rule in Ireland, 176. Ceylon, tanks in, 262. Chalmers, Dr., his apparent paradox, 220. Chance, Mr., his testimony to the effect of the repeal of the glass duty, 290. Charteris, Col., story of, 136. Children, education of, an investment of capital, 277. China, custom of, in matters of currency, 33. Civilisation, conditions of, Union and Association, I. Civil process, costs of, levied on litigants, 274. Civil war in America, effects of, on price of cotton, 194. Clearances through bankers, 147. Clearing-house, operations of, 201. Clergynien, low earnings of, 113. Climate, effects of, on rent, 153; influences of, 242-3. Clothing, demand for, 186. Coal, should Government check its consumption? 226; distribution of, 241; supplies of, and their relation to public debt, 314. Coins, origin of, 33. Collier, wages of, why high, 65. Colonial system, character of, 251. Colonies, supposed value of, 253; social tone of, 257; ultimate effects of, on Old World, 259. Colonies, English, origin of, 250. Colonies, modern, of Spain and Holland, 250. Colonisation, mistaken views of its value, 101. Combination of labours, laws against, abolished, 87. Commerce, international, mistakes about, 4. 'Commercial distress,' its incidence, 213. Commercial law, necessity of an international, 216. Commodities, price of, affected by division of labour, 15; how far Government may check consumption of, 226; however local their origin, very little under the control of Government, Consols, quantity of, in market, is probably small, 311. Consumer, his relations to a tradesunion, 96. Contracts, cases in which the law ineffectually tries to annul them, 3; control of law over, 180; superintended and controlled by Government, 224. Co-operation, of labour, its uses, 10; among labourers, kinds of, 104; Continental, kinds of, 105. Co-operators, Rochdale, their plan, 135. Copper, currencies of, 26. Copyright, grounds on which allowed, 225. Corn, foreign, duty on still (169) existing, 246; imported, effects of duty on, 284. Corn-dealer, use of, 191. Corn-laws, folly of, 161. Corporations, effect of tenure of land by, 198. Cost, involved in the production of labour, 62; real and nominal, distinguished, 193. Cottages, demolition of, in close parishes, 124. Cottier tenancy, peculiar to Ireland, 174. Cottiers, competition for land by, 177. Cotton, price of, and inferences from, 194. Cotton cloth, analysis of production of, 11; currency of, 26. Cotton plant, wide area for its production, 196. Coventry, trade of, 93. Cowrie, currency of, 26. Credit, only metaphorically capital, 61; mercantile and government, compared, 141. Creditor, public, his powers, 306. Crown, its grant of monopolies, 80. Cultivation, small, when most advisable, 173. Y Davis, Sir J., his abstract of the great Irish Gavelkind case, 176. Dearness of labour, machinery an escape from, 128. Debt, obligation of, like that of a charge burdening an estate, 302; incidence of, on capital, or revenue, 314. Debt, English, growth of, and chiefly for unproductive purposes, 301; nominal and real, amount raised, 308. Debt, public, should it be extinguished? 312. Debts, national, security of, 316. Deceased persons, power of con trolling the living by, mere creations of law, 229. Decimal system, convenience of, 118. Defence, could not be undertaken by private individuals, 273. Delitzsch, M. Schultze, his expe |