A Manual of Political Economy for Schools and Colleges |
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Page 4
... classes , and to restrict the action of others by way of protection or compensation . It has induced a jealous foreign policy , and put a multi- tude of restrictions on trade . It has been so inveterate a fallacy , that it affected the ...
... classes , and to restrict the action of others by way of protection or compensation . It has induced a jealous foreign policy , and put a multi- tude of restrictions on trade . It has been so inveterate a fallacy , that it affected the ...
Page 34
... classes suffer when any such political crime is committed , the poorer classes suffer the most , and recover from the effects of the crisis most slowly . The merchant who 34 [ Chap . THE MEASURE OF VALUE . Fraudulent issues of base ...
... classes suffer when any such political crime is committed , the poorer classes suffer the most , and recover from the effects of the crisis most slowly . The merchant who 34 [ Chap . THE MEASURE OF VALUE . Fraudulent issues of base ...
Page 45
... class character for the purpose of a mortgage , is wholly worth- less as a basis for a currency . Similar though far less serious consequences ensued from the fact , that during the greater part of the continental war this country had ...
... class character for the purpose of a mortgage , is wholly worth- less as a basis for a currency . Similar though far less serious consequences ensued from the fact , that during the greater part of the continental war this country had ...
Page 48
... class of labourers supplies the means for baking the bread , and for selling the article when it is ready for consumption . It is impossible to calculate the number of persons who have contributed to so simple and familiar an object ...
... class of labourers supplies the means for baking the bread , and for selling the article when it is ready for consumption . It is impossible to calculate the number of persons who have contributed to so simple and familiar an object ...
Page 58
... class , for very few live on the bare income of property . persons The habits of society do not encourage or indeed permit great personal expenditure ; the rate of profit is high , and accumulations are therefore encouraged ; and the ...
... class , for very few live on the bare income of property . persons The habits of society do not encourage or indeed permit great personal expenditure ; the rate of profit is high , and accumulations are therefore encouraged ; and the ...
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Common terms and phrases
accumulated Adam Smith adopted advantage agricultural amount bank Bank of England benefit borrowers British capital civilised cloth colonies competition corn-laws cost of production cultivation currency custom debt demand diminished distribution duty economy effects emigration employed employer employment England exchange exist exports fact farmer fcap foreign Gavelkind gold and silver Homestead Act Illegitimacy imported income increase India indirect taxation industry invested Ireland Irish Julius Cćsar kinds labour land landowner lenders levied loans machinery maintenance manufacture marriage ment moral nation natural necessary number of persons object occupation ordinary paid population possessed precious metals Primogeniture profit protection purchaser quantity rate of interest rate of profit rate of wages remuneration rent revenue rise risk Rochdale Pioneers society soil specie subsistence supply Tanistry taxation tenancy theory tical tion trade trades-union United Kingdom wealth
Popular passages
Page 261 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Page 326 - An Elementary Treatise on Quaternions. By PG TAIT, MA, Professor of Natural Philosophy in the University of Edinburgh ; formerly Fellow of St Peter's College, Cambridge. Second Edition. Demy 8vo. 14*.
Page 156 - Every permanent improvement of the soil, every railway and road, every bettering of the general condition of society, every facility given for production, every stimulus supplied to consumption, raises rent. The landowner sleeps, but thrives.
Page 224 - The only case in which, on mere principles of political economy, protecting duties can be defensible, is when they are imposed temporarily (especially in a young and rising nation) in hopes of naturalizing a foreign industry, in itself perfectly suitable to the circumstances of the country.
Page 145 - The increase of population has not preceded but followed this occupation and cultivation. It is not the pressure of population on the means of subsistence which has led men to cultivate inferior soils, but the fact that these soils being cultivated in another way, or taken into cultivation, an increased population became possible. How could an increased population have stimulated greater labour in agriculture, when agriculture must have supplied the means on which that increased population could...
Page 273 - The power of transferring a tax from the person who actually pays it to some other person varies with the object taxed. A tax on rents cannot be transferred. A tax on commodities is always transferred to the consumer.
Page 61 - ... as contrasted with another which lives on rice or potatoes ; and this quite apart from the prudence or incautiousness of the people. Two instances will illustrate this rule. The Irish famine of 1846 was due to the sudden disease which affected the potato. It was equally severe in the northern parts of Scotland, and particularly in the Western Highlands ; its effects, as we all know, were terrible ; but the same disease affected the same plant in England. That, however, which was distress to the...
Page 67 - ... chiefly in Yorkshire. The fashion has passed away and the demand for the material and the labor has ceased. Thousands of persons once engaged in this production are now reduced to enforced idleness, or constrained to betake themselves to some other occupation. Again, a few years ago, women dressed themselves plentifully with ribbons. This fashion has also changed ; where a hundred yards were sold, one is hardly purchased now, and the looms of a multitude of silk operatives are idle. To quote...
Page 125 - Presuming a hundred men invested twenty shillings each, one shilling each would be due to them at the expiration of the year, as five per cent. interest on their separate investments. They had each done precisely the same as investors, and each was justly entitled to the same reward. But custom is as necessary as capital for the production of profit ; and in contributing this all-important element, they almost necessarily differed from each other. The family income made a difference ; the number...