sow the same, I say that when this man hath subducted his seed out of the process of his harvest, and also what himself hath both eaten and given to others in exchange for clothes and other natural necessaries, that the remainder of corn is the natural and true rent for that year."[1]
Among seventeenth century economists, Sir Dudley North ranks next to Petty in reputation and influence upon after-thought. In his "Discourses upon Trade" (1691) he shows very clearly that commerce is the exchange of commodities, and that it is not money people want when trade is bad, but other commodities for which to exchange their products. "Commerce and Trade, as hath been said, first springs from the Labor of Man, but as the Stock increases it dilates more and more. If you suppose a Country to have nothing in it but the Land itself and the Inhabitants; it is plain that at first the People have only the Fruits of the Earth and the Metals raised from the Bowels of it, to Trade withal, either by carrying out into Foreign parts, or by selling to such as will come to buy of them, whereby they may be supplied with the Goods of other Countries wanted there. In this course of Trade Gold and Silver are in no sort different from other commodities, but are taken from them who have plenty and carried to them who want, or desire them, with as good profit as other Merchandises. So that an active, prudent Nation groweth rich and the sluggish Drones grow poor; and there cannot be any other Policy than this, which being introduced and practiced shall avail to increase Trade and Riches. But this Proposition, as single and plain as it is, is seldom so well understood, as to pass with the generality of mankind; but
- ↑ Loc, cit., p. 24.
