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BOOK II.
OF THE VARIOUS SYSTEMS CONCERNING LABOUR,
Introduction, 73.

CHAP. I.
The productiveness of Wealth is not exclusively reserved to one sort
of Labour, 74;

CHAP. II.
Nor peculiar to some Labours, but common to all, 87.

CHAP. III.
Agricultural Labour is not the most productive of labours, 92; it

limits Accumulation, 94 ; the distribution of its produce holds
out few encouragements to Industry, Sciences, Arts, and Com-
merce, 95 ; its produce is insufficient to supply the wants of a great
political power, 96. The Labours of Industry and Commerce
are preferable, because they are susceptible of great subdivision,
give a considerable impulse to general Labour, and favour Accu-
mulation, 103. The resources of Agriculture compared to those
of Manufactures and Commerce, 108 : the superiority of the
latter proved by History, 109 ; by the authority of Adam Smith,
110; by their mutual advantages and inconveniences, 112. Man-
ufacturing and trading nations have nothing to fear from the pro-
gress of Industry and Commerce among agricultural nations,
117: their manufactures and trade are rather extended by it,
120. Manufactures and trade can alone confer great political
power, 126.

CHAP. IV.
The causes which invigorate Labour, are: 1, the division of Labour

in Manufactures, 130; 2, its concentration in Agriculture, or
large farms, 137; 3, and the introduction of Machines, 139.

CHAP. V.
Obstacles to the progress of Labour, are : 1, the slavery of the La
bourer, 145-6. .

| CHAP. VI.
2. Apprenticeships and Corporations, 154.

CHAP. VII.
3. And Combinations, which lower the wages of Labour below their

natural rate, 158. Conclusion of the Second Book, 161.

BOOK III.

OF THE VARIOUS SYSTEMS RESPECTING CAPITAL,

CHAP. I.
Wherein do Capitals consist ? 162; in Metallic Currency, in the

advancement of Agriculture, or in the first materials of all Labour,
Improvements of the soil, &c. ibid ; in the Instruments and Ma.
chines proper to shorten and facilitate Labour, or in the accumu:
lation of the produce of Labour ? 163.

CHAP. II.
How are Capitals formed ? 165; by economy in the costs of Agri-

cultural labour, and by the increased price of commodities
through Foreign Trade, ibid; or by the proportion of productive
to unproductive labour, 167 ; or by economy in consumption ?
168.

CHAP. III.
How are Capitals employed ? 182: to what kind of Capital does the

Metallic Currency belong ? 186: is Paper Credit a part of cap-
ital? 194. Of the hoarding of Money, 196. Of Capital lent out
at interest, 199. Does the rate of Interest depend upon the plen-
ty or scarcity of Metallic Currency: 202 : is it to be fixed by
Law ? 203 : is the lending of Capital at Interest profitable or de-
trimental to National Wealth ? 208. Of Public loans, or Na-
tional Debts, ibid : Of a Sinking Fund, 214.

CHAP. IV.
Of the influence of Capitals on the progress of Public Wealth, 230;

it is greater or smaller according as Capitals are employed, 231.
Which mode of employing of capital is most favourable to the pro-
gress of Wealth? 233.

CHAP. V.
Of the Profit of Stock, 244 : of the causes which regulate that Pro-
fit, 245.

CHAP. VI.
Conclusion of the Third Book, 247.

BOOK IV.

OF THE VARIOUS SVSTEMS RELATING TO THE CIR-

CULATION OF THE PRODUCE OF LABOUR BY

MEANS OF COMMERCE.
Introduction, on the importance of Commerce, 249.

CHAP. I.
Of the causes of the circulation of the produce of Labour, 253.

CHAP. II.
Of the Value of the Produce of Labour, 255 : this Value is regula-

ted, 1st, by the wants of the Consumers, and their means of sup-
plying them, 256; 2dly, by the demand for Commodities, and
their abundance or scarcity, 257 ; 3dly, by Labour, 258 ; 4thly,
by Land and Labour, 259; 5thly, by the value of Man, 260.
There is no invariable Standard of Value, 264. Money and
Corn are not better calculated than Labour to fix the Value of
things for distant times, 268; there is no fixed Value of things
but up to what their production has cost, 270; beyond this the
Profits on Productions of Labour are unequal, 271; this inequali.
ty of Profits is indifferent with regard to the Home-Trade, 272;
it is not injurious in the exchange of Home for Foreign produce,
273; except in one particular case, 278.

CHAP. III..
Of the influence of Money and credit upon the circulation of the

Produce of labour, 286. Different kinds of Money, 287: ob-
jects of every Monetary System, 288"; obstacles which it en-
counters : 1, in the nature of things, 289; 2, in the confused
notions of its own nature, 290. What is Money : 295. Is a
Seignorage on Coin advantageous ? 297. Is either Gold or Silver
alone to be admitted as Money? 300. Is there a known and
fised proportion between Money and the Produce which it is to
circulate ? 303. Is the abundance of Money favourable or in-
different to the progress of Wealth ? 306. Is a Gold and Silver
Currency necessary to the forination of Wealth: 312. Does its
Plenty contribute to the progress of Wealth: 314.

CHAP. IV.
Of Credit and Banks, 319: what is Credit ? ibid: three sorts of

Credit, 322: 1, Commercial Credit, ibid. Of the liquidation of

,

Commercial Credit by setting off or compensating one debt against
the other, 326. Of Deposit Banks, 329; Bank of Venice, ibid ;
Bank of Genoa, or Bank of St. George, 332; Bank of Amster-
dam, 334; Bank of Rotterdam, 337; Bank of Hamburgh,
ibid. Of Banks of Circulation, 338 : Bank of England, ibid ;
its nature, 340 ; its extent, 342; its advantages and inconveni-
encies, 346. Number of Banks of that kind in England, 349,
The amount of Commercial Debts liquidated with Bank-notes,
350. Is an abundant Paper Currency favourable to the progress
of Wealth ? 351. Of the Banks of Circulation that have
existed in France, 352: Mr. Law's Bank, 353; Discounting
Bank (Caisse d'Escompte), ibid ; Bank of Current Accounts,
354 ; Commercial Bank, 355; Manufacturers' Bank, ibid; Land
Bank, ibid : Bank of France, 356. Which of the two kinds of
Banks is most favourable to the progress of Wealth, 368. 2. Pri-
vate Credit, 371 : Banks of Circulation of no use to it, 372. Pri-
vate Credit has inade little progress, because it is opposed by most
Religions, 373. The law fixes the rate of Interest, and favours
the Debtor, 374. 3. Public Credit, and wherein it resembles
Commercial and Private Credit, 378.

. CHAP. V.
Which Trade is the most beneficial to National Wealth ? 381.

Opinions in favour of Foreign Trade, 382 ; in favour of the
Home Trade, 384 : Foreign Trade is the most conducive to
National Wealth, 386. Of the different methods of carrying on
the Foreign Trade of a Country, 398.

CHAP. VI.
1. of Corporations and privileged Companies, 398 ; this method of
trading is prejudicial to Wealth, 399.

CHAP. VII.
| 2. Of Modern Colonies, 404: their difference from the Colonies

of the Ancients, ibid. This mode of trading is beneficial, and has
been of great service, with regard to population, 405; to capitals,
406; and to Public and Private Wealth, 410. Have Nations
with Colonies shared more largely in these advantages than Na-
tions that have no Colonies ? 411. Of Colonial Monopoly, 413:
it is of no advantage to monopolizing Nations, 417.

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