Principles of Political Economy: With Some of Their Applications to Social Philosophy, Volume 2Appleton, 1882 - Economics |
From inside the book
Page 88
... shown that pieces of paper , of no intrinsic value , by merely bearing upon them the written profession of being equivalent to a certain number of francs , dollars , or pounds , could be made to circulate as such , and to produce all ...
... shown that pieces of paper , of no intrinsic value , by merely bearing upon them the written profession of being equivalent to a certain number of francs , dollars , or pounds , could be made to circulate as such , and to produce all ...
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Common terms and phrases
17 yards Adam Smith advantage agricultural amount assignats bank notes Bank of England bankers benefit bills bills of exchange bullion cheaper cheapness cheques circulation circumstances coin commerce consumers corn cost of carriage cost of labour cost of production crease days labour dealers debt depend depreciation diminished duction effect employment enable equal equivalent exchange value exist expense exports fall foreign commodities foreign countries France Germany gold and silver imports improvement income increase industry international demand issue issuers labour and capital land law of value less loans lower means ment million modities obtain paid payment persons Poland population portion pounds pounds sterling precious metals produce proportion quantity of money raise rate of interest rate of profit rent rise of prices seignorage sell speculation supply suppose supposition things tion trade transactions value of money wages whole yards of cloth yards of linen
Popular passages
Page 569 - Laisser-faire, in short, should be the general practice: every departure from it, unless required by some great good, is a certain evil.
Page 338 - Under this twofold influence, society would exhibit these leading features: a well-paid and affluent body of labourers; no enormous fortunes, except what were earned and accumulated during a single lifetime; but a much larger body of persons than at present, not only exempt from the coarser toils, but with sufficient leisure, both physical and mental, from mechanical details, to cultivate freely the graces of life, and afford examples of them to the classes less favourably circumstanced for their...
Page 394 - Where it is otherwise, every person subject to the tax is put more or less in the power of the taxgatherer, who can either aggravate the tax upon any obnoxious contributor or extort, by the terror of such aggravation, some present or perquisite to himself.
Page 395 - Every tax ought to be levied at the time, or in the manner in which it is most likely to be convenient for the contributor to pay it.
Page 339 - Nor is there much satisfaction in contemplating the world, with nothing left to the spontaneous activity of nature — with every rood of land brought into cultivation which is capable of growing food for human beings — every flowery waste or natural pasture ploughed up — all quadrupeds or birds, which are not domesticated for man's use, exterminated as his rivals for food — every hedgerow or superfluous tree rooted out, and scarcely a place left where a shrub or flower could grow, without...
Page 395 - Fourthly, by subjecting the people to the frequent visits and the odious examination of the tax-gatherers, it may expose them to much unnecessary trouble, vexation, and oppression...
Page 340 - Hitherto it is questionable if all the mechanical inventions yet made have lightened the day's toil of any human being. They have enabled a greater population to live the same life of drudgery and imprisonment, and an increased number of manufacturers and others to make large fortunes.
Page 396 - Equality of taxation, therefore, as a maxim of politics, means equality of sacrifice. It means apportioning the contribution of each person towards the expenses of government, so that he shall feel neither %more nor less inconvenience from his share of the payment than every other person experiences from his.
Page 338 - I know not why it should be matter of congratulation that persons who are already richer than any one needs to be, should have doubled their means of consuming things which give little or no pleasure except as representative of wealth ; or that numbers of individuals should pass over, every year, from the middle classes into a richer class, or from the class of the occupied rich to that of the unoccupied.
Page 394 - 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.