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The French apolgistof the doctrine of the economists, whom I have mentioned before, observes that "the labour of husbandmen is productive of a net produce; whilst the labour of artisans and manu"factures is not productive of a net produce."

He gives to this observation an elucidation which it is important to record here, notwithstanding its length; that an accurate idea may be formed of the system which he defends.

"This distinction" (between labour productive of a net produce and that which is not productive of a net produce)" is built," he says, upon material "differences pregnant with effects not only various, "but even opposite. It is therefore unjustly that "Adam Smith rejects this distinction, and asserts "that there is between the effects of these two sorts of labour a difference merely of more or less.

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Agricultural labourers enrich the state by the "produce of their labour; commercial and manu"factural labourers, on the contrary, can only enrich "it by what they save of their own consumption. "Indeed the labour of artisans and manufacturers "can add nothing to the value of the raw material "but the value of their labour, that is to say, the "amount of the wages and profit which that labour "must have obtained according to the rate of wages "and profit of stock usual in the country. Conse

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"all necessary and it would be difficult to say which is the most "useful." Le Commerce et le Gouvernement, par Condillac. Partie i. chap. 10.

"quently, there are two differences to be observed "between the labour of this class of labourers and "that of husbandmen.'

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"The first of these differences is relative to the "state in general. The labour of artisans and manu"facturers does not alter the quantum of wealth "existing in the community; the labour of husbandmen, on the contrary, adds to the totality of ex

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isting values. After having replaced what the la"bourers have and might have consumed during “their labour, it has given birth to a fresh value,"it has produced a real increase of the general mass "of wealth belonging to the community; in short, "it has afforded a net produce.

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"The second difference is relative to the individ"uals who gather the fruits of labour: the labour of "artisans and manufacturers re-imburses the wages "and profits of those who have been co-operators of "the production; it gives the labourers a reward "which they have purchased with their labour;-it "affords to the undertakers an indemnity which they

have purchased with the service of their capital and the risk to which it has been exposed. But the la"bour of husbandmen, after having discharged the "same reward and the same indemnity, yields over "and above this a produce which is not purchased by any labour, service, or risk; a produce completely gratuitous, which will be consumed by individuals "that have not in any way co-operated in its pro"duction.

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"These remarkable differences produce consequences which merit observation.

"1. As the labour of artisans and manufacturers "does not open any new source of wealth, it can

prove beneficial only by means of advantageous "exchanges, and has a mere relative value; a value "which it will not obtain when there is no opportu"nity left to gain by the exchange, and the founda"tion of which is consequently uncertain and pre"carious. Agricultural labour, on the contrary, << opens a new source of commodities, which is lasting and permanent, not dependent on any external "circumstances, and which, as it furnishes a real "supply to consumption, necessarily increases at "once population and the national power.

66 2. As the labour of artisans and manufacturers "cannot add any thing to the general mass of the "wealth of the community, except the savings made "by the capitalists and paid, or mercenary labourers, "it may, it is true, tend by that means to enrich "the community but it has that tendency from a

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power which is, necessarily, continually decreasing. "In a flourishing country the continual increase of "labourers tends to reduce profits to the lowest rate "at which a capital may be employed; consequently, "these two causes continually operate to render the "savings more and more difficult, and in the end "absolutely impossible."

This apology of the exclusive productiveness of

*Recherches sur la Nature et les Causes' de la Richesse des Nations, par Adam Smith. Traduction nouvelle, avec des Notes et Observations par Germain Garnier. 5 tomes. Paris, 1802. Vol. v. note xxix. p. 262.-T.

agricultural labour is built upon the supposition that its produce has a value of its own, while the productions of all other labours have no value but what they obtain by being exchanged; but this supposition is evidently repugnant to the nature of things, to reason and to the fundamental laws of political economy. Of the agricultural produce, one part is destined to replace that which has been consumed by the husbandman during his labour; this part has no value of its own, real, and independent of all exchange; it is, as it were, merely the instrument of agriculture destined to supply absolute and indispensable wants; it is not capable of a surplus, and consequently cannot contribute to the formation of wealth.

The other part, which is over and above what has been consumed by the husbandman, and which is called the net produce, has no value as long as it remains in the hands of the husbandman. The stock of corn in the granaries of the farmer, of wine in his cellars, of wool, silk, hemp, and flax, in his magazines, is no wealth for him, if, not being able to consume these commodities, he be likewise unable to find any consumers for them, and if he have no other prospect than to witness their destruction and annihilation by all-devouring time.

It is only when this net produce above the wants of the husbandman departs from him to be consumed by others, that it becomes useful, obtains a value, and forms one of the elements of wealth: but there are only two ways of operating this transmission,-by a free gift, or by a cession against an equivalent.

The former cannot be practised for any length of time, and has never yet contributed to the wealth of any nation. Hospitality among those who are on the lowest steps on the scale of civilization, benevolence among those more civilized, and charity among those whose civilization is heightened by religion, have never been of great assistance to augment the population, wealth or power of any nation.

The second way, I mean the cession of the net produce against an equivalent, consisting either in a material produce or in personal services, can alone confer a value upon agricultural labour, and renders it equally useful and beneficial to private and public wealth, but in that case its value is relative, and, like the value of all other labour, dependent on its being exchanged; it does not differ from, and is absolutely upon a par with other values. In this general concurrence of values, the productiveness of labour depends neither on the abundance of its produce, nor on its greater or smaller utility, nor on any other particular consideration: it only depends on the laws by which exchanges are regulated, which we shall establish hereafter; these alone determine the productiveness or barrenness of labour; and as scarcely any labour is undertaken unless called for by the prospect of being exchanged, or at least as no labour is long continued without such a prospect, we may conclude with certainty that agricultural labour is not exclusively productive of wealth.

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