The Wealth of Nations/Index

by Adam Smith

 

Index

n.b.—The roman numerals refer to the volume, and the figures to the page

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A

Absentee tax, the propriety of, considered, with reference to Ireland, iii. 325.

Accounts of money, in modem Europe, all kept, and the value of goods computed, in silver, i. 87.

Actors, public, paid for the contempt attending their profession, i. 175–176.

Africa, cause assigned for the barbarous state of the interior parts of that continent, i. 65.

African Company, establishment and constitution of, iii. 107; receive an annual allowance from Parliament for forts and garrisons, 109; the company not under sufficient control, 110; history of the Royal African Company, 113; decline of, 114; rise of the present company, ibid.

Age, the foundation of rank and precedence in rude as well as civilized societies, iii. 70.

Aggregate fund, in the British finances, explained, iii. 354.

Agio of the Bank of Amsterdam explained, ii. 191; of the Bank of Hamburg, 193; the agio at Amsterdam, how kept at a medium rate, 202–203.

Agriculture, the labor of, does not admit of such subdivisions as manufactures, i. 46; this impossibility of separation, prevents agriculture from improving equally with manufactures, 46–47; natural state of, in a new colony, 157; requires more knowledge and experience than most mechanical professions, and yet is carried on without any restrictions, 203; the terms of rent, how adjusted between landlord and tenant, 226; is extended by good roads and navigable canals, 231; under what circumstances pasture land is more valuable than arable, 233–234; gardening not a very gainful employment, 238; vines the most profitable article of culture, 239–240; estimates of profit from projects, very fallacious, 241; cattle and tillage mutually improve each other, 327–328; remarks on that of Scotland, 328, 330; remarks on that of North America, 332; poultry a profitable article in husbandry, 334; hogs, 336; dairy, 337; evidences of land being completely improved, 339; the extension of cultivation, as it raises the price of animal food, reduces that of vegetables, 360.—By whom and how practiced under feudal government, ii. 12; its operations not so much intended to increase, as to direct, the fertility of nature, 50; has been the cause of the prosperity of the British colonies in America, 55; the profits of, exaggerated by projectors, 66; on equal terms, is naturally preferred to trade, 70; artificers necessary to the carrying it on, 71; was not attended to by the Northern destroyers of the Roman empire, 75; the ancient policy of Europe unfavorable to, 90; was promoted by the commerce and manufactures of towns, 117; the wealth arising from, more solid and durable than that which proceeds from commerce, 122; is not encouraged by the bounty on the exportation of corn, 233; why the proper business of new colonies, 372.—The present agricultural system of political economy adopted in Prance, described, iii. 9; is discouraged by restrictions and prohibitions in trade, 20–21; is favored beyond manufactures, in China, 31–32; and in Egypt and Hindustan, 33–35; does not require so extensive a market as manufactures, 35; to check manufactures, in order to promote agriculture, false policy, 41; landlords ought to be encouraged to cultivate part of their own land, 234.

Alcavala, the tax in Spain so called, explained and considered, iii. 332; the ruin of the Spanish manufactures attributed to this tax, ibid.

Alehouses, the number of, not the efficient cause of drunkenness, i. 211.

Allodial rights, mistaken for feudal rights, ii. 111; the introduction of the feudal law tended to moderate the authority of the allodial lords, ibid.

Ambassadors, the first motive of their appointment, iii. 99.

America, why labor is dearer in North America than in England, i. 127; great increase of population there, 128; common rate of interest there, 156; is a new market for the produce of its own silver mines, 304; the first accounts of the two empires of Peru and Mexico, greatly exaggerated, 305; improving state of the Spanish colonies, 306; account of the paper currency of the British colonies, 452–453.—Cause of the rapid prosperity of the British colonies there, ii. 55; why manufactures for distant sale have never been established there, 72; its speedy improvement owing to assistance from foreign capitals, 74; the purchase and improvement of uncultivated land, the most profitable employment of capitals, 119; commercial alterations produced by the discovery of, 150; but two civilized nations found on the whole continent, 151; the wealth of the North American colonies increased, though the balance of trade continued against them, 219; Madeira wine, how introduced there, 224–225; historical review of the European settlements in, 301; of Spain, 313; of Sweden, 316; of Denmark, 317; of Holland, ibid.; of France, 318; of Britain, 319; ecclesiastical government in the several European colonies, 323–324; fish a principal article of trade from North America to Spain, Portugal and the Mediterranean, 328; naval stores to Britain, 331; little credit due to the policy of Europe from the success of the colonies, 343; the discovery and colonization of, how far advantageous to Europe, 345; and to America, 395; the colonies in, governed by a spirit of monopoly, 402; the interest of the consumer in Britain sacrificed to that of the producer, by the system of colonization, 443.—Plan for extending the British system of taxation over all the provinces of, iii. 384; the question how the Americans could pay taxes without specie, considered, 392; ought in justice to contribute to discharge the public debt of Great Britain, 398; expediency of their union with Britain, 399; the British empire there, a mere project, 402.

Amsterdam, agio of the bank of, explained, ii. 191; occasion of its establishment, 194; advantages attending payments there, 195; rate demanded for keeping money there, 196; prices at which bullion and coin are received, 197 note; this bank, the great warehouse of Europe for bullion, 200; demands upon, how made and answered, 200–201; the agio of, how kept at a medium rate, 202; the treasure of, whether all preserved in its repositories, 203; the amount of its treasure only to be conjectured, 204; fees paid to the bank for transacting business, ibid.

Annuities for terms of years, and for lives, in the British finances, historical account of, iii. 357–358.

Apothecaries, the profit on their drugs unjustly stigmatized as exorbitant, i. 182–183.

Apprenticeship, the nature and intention of this bond servitude explained, i. 168–169; the limitations imposed on various trades, as to the number of apprentices, 194; the statute of apprenticeship in England, 195; apprenticeships in France and Scotland, 196; general remarks on the tendency and operation of long apprenticeships, 197.

Apprenticeship, the statute of, ought to be repealed, ii. 181.

Arabs, their manner of supporting war, iii. 44.

Army, three different ways by which a nation may maintain one in a distant country, ii. 140; standing, distinction between and a militia, iii. 54; historical review of, 58; the Macedonian army, ibid; Carthaginian army, 59; Roman army, 60; is alone able to perpetuate the civilization of a country, 64; the speediest engine for civilizing a barbarous country, ibid.; under what circumstances dangerous to, and under what favorable to, liberty, 65.

Artificers, prohibited by law from going to foreign countries, ii. 440–441; residing abroad, and not returning on notice, exposed to outlawry, 441–442. See Manufactures.

Asdrubal, his army greatly improved by discipline, iii. 60; how defeated, ibid.

Assembly, houses of, in the British colonies, the constitutional freedom of, shown, ii. 337–338

Assiento contract, iii. 116.

Assize of Bread and Ale, remarks on that statute, i. 273, 279.

Augustus, emperor, emancipates the slaves of Vedius Pollio, for his cruelty, ii. 342.

B

Balance of annual produce and consumption explained, ii. 218–219; may be in favor of a nation, when the balance of trade is against it, 219.

Balance of trade, no certain criterion to determine on which side it turns between two countries, ii. 187; the current doctrine of, on which most regulations of trade are founded, absurd, 206; if even, by the exchange of their native commodities, both sides may be gainers, 207; how the balance would stand, if native commodities on one side, were paid with foreign commodities on the other, 207–208; how the balance stands when commodities are purchased with gold and silver, 209; the ruin of countries often predicted from the doctrine of an unfavorable balance of trade, 218.

Banks, great increase of trade in Scotland, since the establishment of them in the principal towns, i. 410; their usual course of business, 412–413; consequences of their issuing too much paper, 416; necessary caution for some time observed by them with regard to giving credit to their customers, 422; limits of the advances they may prudently make to traders, 426; how injured by the practice of drawing and redrawing bills, 431–432; history of the Ayr bank, 435–440; history of the Bank of England, 441–444; the nature and public advantage of banks considered, 444–446; bankers might carry on their business with less paper, 447; effects of the optional clauses in the Scots notes, 451.—Origin of their establishment, ii. 193; bank money explained, 194.

Banks of England, the conduct of, in regard to the coinage, ii. 292.—Joint stock companies, why well adapted to the trade of banking, iii. 131–134; a doubtful question whether the government of Great Britain is equal to the management of the bank to profit, 215.

Bankers, the credit of their notes how established, i. 404; the nature of the banking business explained, 405—412; the multiplication and competition of bankers under proper regulation, of service to public credit, 456.

Baretti, Mr., his account of the quantity of Portugal gold sent weekly to England, ii. 284.

Barons, feudal, their power contracted, by the grant of municipal privileges, ii. 96; their extensive authority, 109; how they lost their authority over their vassals, 113; and the power to disturb their country, 115.

Barter, the exchange of one commodity for another, the propensity to, of extensive operation, and peculiar to man, i. 55; is not sufficient to carry on the mutual intercourse of mankind, 66–67. See Commerce.

Batavia, causes of the prosperity of the Dutch settlement there, ii. 409.

Beaver skins, review of the policy used in the trade for, ii. 439.

Beef, cheaper now in London than in the reign of James I., i. 236; compared with the prices of wheat at the corresponding times, 237.

Benefices, ecclesiastical, the tenure of, why rendered secure, iii. 187; the power of collating to, how taken from the Pope, in England and France, 195; general equality of, among the Presbyterians, 202; good effects of this equality, 204.

Bengal, to what circumstances its early improvement in agriculture and manufactures was owing, i. 64; present miserable state of the country, 131–132; remarks on the high rates of interest there, 159.—Oppressive conduct of the English there to suit their trade in opium, ii. 410.—Why more remarkable for the exportation of manufactures than of grain, iii. 36.

Berne, brief history of the republic of, ii. 98.—Establishment of the Reformation there, iii. 198; application of the revenue of the Catholic clergy, 208; derives a revenue from the interest of its treasure, 217; only republic in Europe which has amassed treasure, 346.

Bills of exchange, punctuality in the payment of, how secured, i. 429; the pernicious practice of drawing and redrawing explained, 430; the arts made use of to disguise this mutual traffic in bills, 432.

Birth, superiority of, how it confers respect and authority, iii. 72.

Bishops, the ancient mode of electing them, and how altered, iii, 188–195.

Body, natural and political, analogy between, iii. 23.

Bohemia, account of the tax there on the industry of artificers, iii. 284.

Bordeaux, why a town of great trade, ii. 15.

Bounty on the exportation of corn, the tendency of this measure examined, i. 293.

Bounties, why given in commerce, ii. 155; on exportation, the policy of granting them considered, 227; on the exportation of corn, 229; this bounty imposes two taxes on the people, 231–232; evil tendency of this bounty, 239; the bounty only beneficial to the exporter and importer, 240; motives of the country gentlemen in granting the bounty, 240–241; a trade which requires a bounty, necessarily a losing trade, 242; tonnage bounties to the fisheries considered, 244; account of the white-herring fishery, 247; remarks on other bounties, 250–252; a review of the principles on which they are generally granted, 420–423; those granted on American produce founded on mistaken policy, 424; how they affect the consumer, 443.

Brazil, grew to be a powerful colony under neglect, ii. 315; the Dutch invaders expelled by the Portuguese colonists, ibid.; computed number of inhabitants there, 316; the trade of the principal provinces oppressed by the Portuguese, 325.

Bread, its relative value with butcher's meat compared, i. 232–237.

Brewery, reasons for transferring the taxes on, to the malt, iii. 315–316.

Bridges, how to be erected and maintained, iii. 86.

Britain, Great, evidences that labor is sufficiently paid for there, i. 132; the price of provisions nearly the same in most places, 133; great variations in the price of labor, 134; vegetables imported from Flanders in the last century, 138; historical account of the alterations interest of money has undergone, 152–153; double interest deemed a reasonable mercantile profit, 163.—In what respects the carrying trade is advantageous to, ii. 61; appears to enjoy more of the carrying trade of Europe than it really has, 65; is the only country of Europe in which the obligation of purveyance is abolished, 87; its funds for the support of foreign wars inquired into, 141–142; why never likely to be much affected by the free importation of Irish cattle, 165–166; nor salt provisions, 167; could be little affected by the importation of foreign corn, ibid.; the policy of the commercial restraints on the trade with France examined, 185–186; the trade with France might be more advantageous to each country than that with any other, 216; why one of the richest countries in Europe, while Spain and Portugal are among the poorest, 277–278; review of her American colonies, 319–325; the trade of her colonies how regulated, 326; distinction between enumerated and non-enumerated commodities, explained, 327; restrains manufactures in America, 332; indulgences granted to the colonies, 335; constitutional freedom of her colony government, 338; the sugar colonies of, worse governed than those of France, 340; disadvantages resulting from retaining the exclusive trade of tobacco with Maryland and Virginia, 351; the navigation act has increased the colony trade, at the expense of many other branches of foreign trade, 354; the advantage of the colony trade estimated, 359; a gradual relaxation of the exclusive trade, recommended, 367; events which have concurred to prevent the ill effects of the loss of the colony trade, 368; the natural good effects of the colony trade, more than counterbalance the bad effects of the monopoly, 371–372; to maintain a monopoly, the principal end of the dominion assumed over the colonies, 380; has derived nothing but loss from this dominion, 382; is perhaps the only State which has only increased its expenses by extending its empire, 388; the constitution of, would have been completed by admitting of American representation, 393; review of the administration of the East India Company, 412–413; the interest of the consumer sacrificed to that of the producer in raising an empire in America, 443–444.—The annual revenue of, compared with its annual rents and interest of capital stock, iii. 220–222; the land tax of, considered, 228; tithes, 241; hearth money, and window tax, 255; stamp duties, 276, 280; poll-taxes in the reign of William III., 286; the uniformity of taxation in, favorable to internal trade, 332; the system of taxation in, compared with that in France, 340; account of the unfunded debt of, 350; funded debt, 351; aggregate and general funds, 354; sinking fund, 356; annuities for terms of years and for lives, 357; perpetual annuities the best transferable stock, 361; the reduction of the public debts during peace, bears no proportion to their accumulation during war, 364–365; the trade with the tobacco colonies, how carried on without the intervention of specie, 394; the trade with the sugar colonies explained, 395; Ireland and America ought in justice to contribute toward the discharge of her public debts, 398; how the territorial acquisitions of the East India Company might be rendered a source of revenue, 400; if no such assistance can be obtained, her only resource pointed out, 401.

Bullion, the money of the great mercantile republic, ii. 144. See Gold and Silver.

Burghs, free, the origin of, ii. 93; to what circumstances they owed their corporate jurisdictions, 94; why admitted to send representatives to Parliament, 98; are allowed to protect refugees from the country, 99.

Burn, Dr., his observations on the laws relating to the settlements of the poor, i. 218, 221.

Butcher's meat, nowhere a necessary of life, iii. 297.

C

Calvinists, origin of that sect, iii. 201; their principles of church government, 202.

Cameron, Mr., of Lochiel, exercised, within thirty years since, a criminal jurisdiction over his own tenants, ii. 111.

Canada, the French colony there, long under the government of an exclusive company, ii. 319; but improved speedily after the dissolution of the company, ibid.

Canals, navigable, the advantages of, i. 231.—How to be made and maintained, iii. 87; that of Languedoc, the support of, how secured, 89; may be successfully managed by joint stock companies, 132.

Cantillon, Mr., remarks on his account of the earnings of the laboring poor, i. 125.

Cape of Good Hope, causes of the prosperity of the Dutch settlement there, ii. 408.

Capital, definitions of, i. 384 note; in trade, explained, and how employed, 385; distinguished into circulating and fixed capitals, 386; characteristic of fixed capitals, 389; the several kinds of fixed capitals specified, ibid.; characteristic of circulating capitals, and several kinds of, 390; fixed capitals supported by those which are circulating, 391; circulating capitals how supported, ibid.; intention of a fixed capital, 396; the expense of maintaining the fixed and circulating capitals illustrated, 398; money, as an article of circulating capital, considered, 399; money, no measure of capital, 402; what quantity of industry any capital can employ, 408–409; capitals, how far they may be extended by paper credit, 425–426.—Must always be replaced with profit by the annual produce of land and labor, ii. 10; the proportion between capital and revenue, regulates the proportion between industry and idleness, 17; how it is increased or diminished, ibid.; national evidences of the increase of, 25; in what instances private expenses contribute to enlarge the national capital, 28–29; the increase of, reduces profits by competition, 38; the different ways of employing a capital, 45; how replaced to the different classes of traders, 48–49; that employed in agriculture puts into motion a greater quantity of productive labor, than any equal capital employed in manufactures, 51; that of a manufacturer should reside within the country, 53; the operation of capitals employed in agriculture, manufactures and foreign trade, compared, 54; the prosperity of a country depends on the due proportion of its capital applied to these three grand objects, 56; different returns of capitals employed in foreign trade, 60; is rather employed on agriculture than in trade and manufactures, on equal terms, 70; is rather employed in manufactures than in foreign trade, 73; the natural progress of the employment of, 74; acquired by trade, is very precarious until realized by the cultivation and improvement of land, 122; the employment of, in the different species of trade, how determined, 158.

Capitation taxes, the nature of, considered, iii. 286; in England, ibid.; in France, 287.

Carriage, land and water, compared, i. 61–62; water, contributes to improve arts and industry, in all countries where it can be used, 63, 231, 310.—Land, how facilitated and reduced in price, by public works, iii. 87–88.

Carrying trade, the nature and operation of, examined, ii. 61; is the symptom, but not the cause, of national wealth, and hence points out the two richest countries in Europe, 65; trades may appear to be carrying trades, which are not so, ibid.; the disadvantages of, to individuals, 158–159; the Dutch, how excluded from being the carriers to Great Britain, 170–171; drawbacks of duties originally granted for the encouragement of, 225.

Carthaginian army, its superiority over the Roman army, accounted for, iii. 59.

Cattle and corn, their value compared, in the different stages of agriculture, i. 232; the price of, reduced by artificial grasses, 236; to what height the price of cattle may rise in an improving country, 328; the raising a stock of, necessary for the supply of manure to farms, 329; cattle must bear a good price to be well fed, ibid.; the price of, rises in Scotland in consequence of the union with England, 331; great multiplication of European cattle in America, 332; are killed in some countries, merely for the sake of the hides and tallow, 342; the market for these articles more extensive than for the carcass, 343; this market sometimes brought nearer home by the establishment of manufactures, ibid.; how the extension of cultivation raises the price of animal food, 360.—Is perhaps the only commodity more expensive to transport by sea than by land, ii. 165; Great Britain never likely to be much affected by the free importation of Irish cattle, 166.

Certificates, parish, the laws relating to, with observations on them, i. 220–221.

Child, Sir Josiah, his observation on trading companies, iii. 105.

Children, riches unfavorable to the production, and extreme poverty to the raising, of them, i. 139–140; the mortality still greater among those maintained by charity, 140.

China, to what the early improvement in arts and industry there was owing, i. 64; concurrent testimonies of the misery of the lower ranks of the Chinese, 130; is not, however, a declining country, ibid.; high rate of interest of money there, 161; great state assumed by the grandees, 308; the price of labor there, lower than in the greater part of Europe, 309; silver the most profitable article to send thither, 310; the proportional value of gold to silver, how rated there, 316; the value of gold and silver much higher there than in any part of Europe, 354.—Agriculture favored there, beyond manufactures, iii. 31; foreign trade not favored there, 33; extension of the home market, ibid.; great attention paid to the roads there, 94–95; in what the principal revenue of the sovereign consists, 243; the revenue of, partly raised in kind, 244.

Church, the richer the Church the poorer the State, iii. 208; amount of the revenue of the Church of Scotland, ibid.; the revenue of the Church heavier taxed in Prussia than lay proprietors, 238; the nature and effect of tithes considered, 241.

Circulation, the dangerous practice of raising money by, explained, i. 429–430; in traffic, the two different branches of, considered, 446–447.

Cities, circumstances which contributed to their opulence, ii. 99; those of Italy the first that rose to consequence, 100; the commerce and manufactures of, have occasioned the improvement and cultivation of the country, 117.

Clergy, a supply of, provided for, by public and private foundations for their education, i. 209–210; curates worse paid than many mechanics, ibid.—Of an established religion, why unsuccessful against the teachers of a new religion, iii. 172; why they persecute their adversaries, ibid.; the zeal of the inferior clergy of the Church of Rome, how kept alive, 173; utility of ecclesiastical establishments, 175; how connected with the civil magistrate, 176; unsafe for the civil magistrate to differ with them, 184; must be managed without violence, 187; of the Church of Rome, one great army cantoned over Europe, 189; their power similar to that of the temporal barons, during the feudal monkish ages, 190; how the power of the Romish clergy declined, 193–194; evils attending allowing parishes to elect their own ministers, 201–202.

Clothing, more plentiful than food, in uncultivated countries, i. 250; the materials for, the first articles rude nations have to offer, 251.

Coal, must generally be cheaper than wood to gain the preference for fuel, i. 256; the price of, how reduced, 258.—The exportation of, subjected to a duty higher than the prime cost of at the pit, ii. 440.—The cheapest of all fuel, iii. 295; the tax on, absurdly regulated, 295–296.

Coal mines, their different degrees of fertility, i. 255; when fertile, are sometimes unprofitable by situation. 256; the proportion of rent generally paid for, 258–259; the machinery necessary to, expensive, 386.

Coal trade from Newcastle to London, employs more shipping than all the other carrying trade of England, ii. 62.

Cochin-China, remarks on the principal articles of cultivation there, i. 243–244.

Coin, stamped, the origin and peculiar advantages of, in commerce, i. 70; the different species of, in different ages and countries, 71; causes of the alterations in the value of, 72, 78, 80, 81; how the standard coin of different nations came to be of different metals, 87; a reform in the English coinage suggested, 94–95; silver, consequences attending the debasement of, 294.—Coinage of France and Britain, examined, ii. 189; why coin is privately melted down, 289; the mint chiefly employed to keep up the quantity thus diminished, ibid.; a duty to pay the coinage would preserve money from being melted or counterfeited, 290; standard of the gold coin in France, 291; how a seigniorage on coin would operate, ibid.; a tax upon coinage is advanced by everybody, and finally paid by nobody, 294; a revenue lost, by government defraying the expense of coinage, ibid.; amount of the annual coinage before the late reformation of the gold coin, 295; the law for the encouragement of, founded on prejudice, 296.—Consequences of raising the denomination, as an expedient to facilitate payment of public debts, iii. 376–377; adulteration of, 380.

Colbert, M., the policy of his commercial regulations disputed, ii. 176, iii. 9; his character, iii. 7–8.

Colleges, cause of the depreciation of their money rents inquired into, i. 81–82.—The endowments of, from whence they generally arise, iii. 135; whether they have in general answered the purposes of their institution, 135–136; these endowments have diminished the necessity of application in the teachers, 137; the privileges of graduates by residence, and charitable foundation of scholarships, injurious to collegiate education, 139–140; discipline of, 141.

Colliers and coal-heavers, their high earnings accounted for, i. 172.

Colonies, new, the natural progress of, i. 157.—Modern, the commercial advantages derived from them, ii. 155; ancient, on what principles founded, 297; ancient Grecian colonies not retained under subjection to the parent States, 297–298; distinction between the Roman and Greek colonies, 300; circumstances that led to the establishment of European colonies in the East Indies and America, ibid.; the East Indies discovered by Vasco da Gama, 301; the West Indies discovered by Columbus, 302; gold the object of the first Spanish enterprises there, 306; and of those of all other European nations, 309; causes of the prosperity of new colonies, ibid.; rapid progress of the ancient Greek colonies, 311; the Roman colonies slow in improvement, 312; the remoteness of America and the West Indies, greatly in favor of the European colonies there, 312–313; review of the British American colonies, 319–321; expense of the civil establishments in British America, 322; ecclesiastical government, 323; general view of the restraints laid upon the trade of the European colonies, 324; the trade of the British colonies, how regulated, 326; the different kinds of non-enumerated commodities specified, 327; enumerated commodities, 330; restraints upon their manufactures, 332–333; indulgences granted them by Great Britain, 335; were free in every other respect except as to their foreign trade, 337; little credit due to the policy of Europe from the success of the colonies, 343; throve by the disorder and injustice of the European governments, ibid.; have contributed to augment the industry of all the countries of Europe, 345–346; exclusive privileges of trade, a dead weight upon all these exertions both in Europe and America, 348; have in general been a source of expense instead of revenue to their mother countries, 350; have only benefited their mother countries by the exclusive trade carried on with them, ibid.; consequences of the navigation act, 352; the advantage of the colony trade to Britain estimated, 359–360; a gradual relaxation of the exclusive commerce recommended, 367; events which have prevented Britain from sensibly feeling the loss of the colony trade, 368; the effects of the colony trade, and the monopoly of that trade, distinguished, 370–372; to maintain a monopoly, the principal end of the dominion Great Britain assumes over the colonies, 380; amount of the ordinary peace establishment of, ibid.; the two late wars Britain sustained, colony wars, to support a monopoly, 381; two modes by which they might be taxed, 384; their assemblies not likely to tax them, ibid.; taxes by parliamentary requisition, as little likely to be raised, 385–386; representatives of, might be admitted into the British Parliament with good effect, 390; answer to objections against American representation, 393; the interest of the consumer in Britain, sacrificed to that of the producer, in raising an empire in America, 443–444.

Columbus, the motive that led to his discovery of America, ii. 301; why he gave the name of Indies to the islands he discovered, 302–303; his triumphal exhibition of their productions, 304–305.

Columella, his instruction for fencing a kitchen-garden, i. 239; advises the planting of vineyards, 240.

Commerce, the different common standards or mediums made use of to facilitate the exchange of commodities, in the early stages of, i. 67; origin of money, 68; definition of the term value, 73.—Treaties of, though advantageous to the merchants and manufacturers of the favored country, necessarily disadvantageous to those of the favoring country, ii. 281; translation of the commercial treaty between England and Portugal concluded in 1703, by Mr. Methuen, 282; restraints laid upon the European colonies in America, 327–328; the present splendor of the mercantile system, owing to the discovery and colonization of America, 395; review of the plan by which it proposes to enrich a country, 417; the interest of the consumer constantly sacrificed to that of the producer, 443. See Agriculture, Banks, Capital, Manufactures, Merchant, Money, Stock, Trade, etc.

Commodities, the barter of, insufficient for the mutual supply of the wants of mankind, i. 66; metals found to be the best medium to facilitate the exchange of, 68; labor an invariable standard for the value of, 79; real and nominal prices of, distinguished, 80; the component parts of the prices of, explained and illustrated, 101–102; the natural, and market prices of, distinguished, and how regulated, 107–108; the ordinary proportion between the value of any two commodities, not necessarily the same as between the quantities of them commonly in the market, 317; the price of rude produce, how affected by the advance of wealth and improvement, 324–325.—Foreign commodities are primarily purchased with the produce of domestic industry, ii. 58–59; when advantageously exported in a rude state, even by a foreign capital, 73; the quantity of, in every country, naturally regulated by the demand, 133; wealth in goods, and in money, compared, 136–137; exportation of, to a proper market, always attended with more profit than that of gold and silver, 143; the natural advantages of countries in particular productions, sometimes not possible to struggle against, 163–164.

Company, mercantile, incapable of consulting their true interests when they become sovereigns, ii. 411; an exclusive company, a public nuisance, 417.—Trading, how first formed, iii. 99; regulated, and joint stock companies, distinguished, 100–101; regulated companies in Great Britain, specified, 102; are useless, 103; the constant view of such companies, 105; forts and garrisons, why never maintained by regulated companies, ibid.; the nature of joint stock companies explained, 111–129; a monopoly necessary to enable a joint stock company to carry on a foreign trade, 130; what kind of joint stock companies need no exclusive privileges, 131; joint stock companies, why well adapted to the trade of banking, ibid.; the trade of insurance may be carried on successfully by a stock company, 132; also inland navigations, and the supply of water to a great city, ibid.; ill-success of joint stock companies in other undertakings, 134.

Competition, the effect of, in the purchase of commodities, i. 109; among the venders, 111, 151.

Concordat, in France, its object, iii. 195–196.

Congress, American, its strength owing to the important characters it confers on the members of it, ii. 392.

Conversion price in the payment of rents in Scotland, explained, i. 277–278.

Copper, the standard measure of value among the ancient Romans, i. 87; is no legal tender in England, 88.

Cori, the largest quadruped on the island of San Domingo, described, ii. 303.

Corn, the raising of, in different countries, not subject to the same degree of rivalship as manufactures, i. 47; is the best standard for reserved rents, 81; the price of, how regulated, 83; the price of, the best standard for comparing the different values of particular commodities at different times and places, 86; the three component parts in the price of, 102; is dearer in Scotland than in England, 134; its value compared with that of butcher's meat, in the different periods of agriculture, 232–237; compared with silver, 271; circumstances in a historical view of the prices of corn, that have misled writers in treating of the value of silver at different periods, 277–280; is always a more accurate measure of value than any other commodity, 284; why dearer in great towns than in the country, 289; why dearer in some rich commercial countries, as Holland and Genoa, ibid.; rose in its nominal price on the discovery of the American mines, 291; and in consequence of the civil war under King Charles I., 292; and in consequence of the bounty on the exportation of, 293; tendency of the bounty examined, 297–298; chronological table of the prices of, 373–380.—The least profitable article of growth in the British West Indian colonies, ii. 82; the restraints formerly laid upon the trade of, unfavorable to the cultivation of land, 90; the free importation of, could little affect the farmers of Great Britain, 167; the policy of the bounty on the exportation of, examined, 229; the reduction in the price of corn, not produced by the bounty, 230; tillage not encouraged by the bounty, 233; the money price of, regulates that of all other home-made commodities, 234; illustration, 236; ill effects of the bounty, 238–239; motives of the country gentlemen in granting the bounty, 240; the natural value of corn not to be altered by altering the money price, 241–242; the four several branches of the corn trade specified, 253; the inland dealer, for his own interest, will not raise the price of corn higher than the scarcity of the season requires, ibid.; corn a commodity the least liable to be monopolized, 254; the inland dealers in corn too numerous and dispersed to form a general combination, 256; dearths never artificial, but when government interferes improperly to prevent them, 257; the freedom of the corn trade, the best security against a famine, 258; old English statute to prohibit the corn trade, 259; consequences of farmers being forced to become corn dealers, 260; the use of corn dealers to the farmers, 264; the prohibitory statute against the corn trade softened, 266; but still under the influence of popular prejudices, 267; the average quantity of corn imported and exported, compared with the consumption and annual produce, 268–269; tendency of a free importation of corn, 270; the home market the most important one for corn, ibid.; duties payable on the importation of grain, before the 13th of George III., 271 note; the impropriety of the statute, the 22d of Charles II., for regulating the importation of wheat, confessed by the suspension of its execution by temporary statutes, ibid.; the home market indirectly supplied by the exportation of corn, 272; how a liberal system of free exportation and importation, among all nations, would operate, 274; the laws concerning corn, similar to those relating to religion, 275; the home market supplied by the carrying trade, 276; the system of laws connected with the establishment of the bounty, undeserving of praise, 276; remarks on the statute the 13th of George III., 278.

Corporations, tendency of the exclusive privileges of, on trade, i. 117, 193; by what authority erected, 200; the advantages corporations derive from the surrounding country, 201; check the operations of competition, 205; their internal regulations, combinations against the public, 207; are injurious, even to the members of them, 208; the laws of, obstruct the free circulation of labor from one employment to another, ibid.—The origin of, ii. 94; are exempted by their privileges from the power of the feudal barons, 95; the European East India companies disadvantageous to the eastern commerce, 152; the exclusive privileges of corporations ought to be destroyed, 179–180.

Cottagers, or Cotters, in Scotland, their situation described, i. 189–190; are cheap manufacturers of stockings, 191; the diminution of, in England, considered, 336.

Coward, character of, iii. 169.

Credit. See Paper Money.

Crusades to the Holy Land, favorable to the revival of commerce, ii. 100.

Currency of States, remarks on, ii. 192.

Customs, the motives and tendency of drawbacks from the duties of, ii. 220; the revenue of the customs increased by drawbacks, 226.—Occasion of first imposing the duties of, iii. 99; origin of those duties, 301; three ancient branches of, 302; drawbacks of, ibid.; are regulated according to the mercantile system, 303; frauds practiced to obtain drawbacks and bounties, 305; the duties of, in many instances uncertain, 307; improvement of, suggested, ibid.; computation of the expense of collecting them, 326–327.

D

Dairy, the business of, generally carried on as a save-all, i. 337; circumstances which impede or promote the attention to it, 338; English and Scotch dairies, 338–339.

Danube, the navigation of that river why of little use to the interior parts of the country from whence it flows, i. 66.

Davenant, Dr., his objections to the transferring the duties on beer to the malt, considered, ii. 426.

Dearths, never caused by combinations among the dealers in corn, but by some general calamity, ii. 256; the free exercise of the corn trade the best palliative against the inconveniences of a dearth, 265–266; corn dealers the best friends to the people at such seasons, 267.

Debts, public, the origin of, traced, iii. 345; are accelerated by the expenses attending war, 347; account of the unfunded debt of Great Britain, 350; the funded debt, 351; aggregate and general funds, 354; sinking fund, 356, 363–364; annuities for terms of years, and for lives, 357; the reduction of, during peace, bears no proportion to its accumulation during war, 364–365; the plea of the interest being no burden to the nation, considered, 372; are seldom fairly paid when accumulated to a certain degree, 376; might easily be discharged, by extending the British system of taxation over all the provinces of the empire, 382; Ireland and America ought to contribute to discharge the public debts of Britain, 398.

Decker, Sir Matthew, his observation on the accumulation of taxes, iii. 294; his proposal for transferring all taxes to the consumer, by annual payments, considered, 298–299.

Demand, though the increase of, may at first raise the price of goods, it never fails to reduce it afterward, iii. 121.

Denmark, account of the settlements of, in the West Indies, ii. 317.

Diamonds, the mines of, not always worth working for, i. 265–266.

Discipline, the great importance of, in war, iii. 57; instances, 58 et seq.

Diversions, public, their political use, iii. 183.

Domesday Book, the intention of that compilation, iii. 237.

Domingo, San, mistaken by Columbus for a part of the East Indies, ii. 302; its principal productions, 303–304; the natives soon stripped of all their gold, 305; historical view of the French colony there, 319.

Dorians, ancient, where the colonies of, settled, ii. 297.

Dramatic exhibitions, the political use of, iii. 183.

Drawbacks, in commerce, explained, ii. 154; the motives to, and tendency of, explained, 220; on wines, currants and wrought silks, 221; on tobacco and sugar, 222; on wines, particularly considered, 223; were originally granted to encourage the carrying trade, 225; the revenue of the customs increased by them, 226; drawbacks allowed in favor of the colonies, 335.

Drugs, regulations of their importation and exportation, ii. 437.

Drunkenness, the motive to this vice inquired into, i. 212.

Dutch, their settlements in America slow in improvement, because under the government of an exclusive company, ii. 317; their East India trade checked by monopoly, 404; measures taken by, to secure the monopoly of the spice trade, 409. See Holland.

E

East India, representation of the miserable state of the provinces of, under the English government there, i. 131–132; historical view of the European trade with those countries, 307; rice countries more populous and rich than corn countries, 308; the real price of labor lower in China and Hindustan, than in the greater part of Europe, 309; gold and silver the most profitable commodities to carry thither, 310; the proportional value of gold to silver, how rated there, 316.—Great extension of foreign commerce by the discovery of a passage to, round the Cape of Good Hope, ii. 151; historical review of the intercourse with, 152; effect of the annual exportation of silver to, from Europe, 153; the trade with, chiefly carried on by exclusive companies, 402; tendency of their monopolies, 403 (see also Hindustan); Company, a monopoly against the very nation in which it is erected, 403; the operation of such a company in a poor and in a rich country, compared, 403–404; that country whose capital is not large enough to tend to such a distant trade ought not to engage in it, 407; the mercantile habits of trading companies render them incapable of consulting their true interests when they become sovereigns, 411; the genius of the administration of the English company, 412–413; subordinate practices of their agents and clerks, 414; the bad conduct of agents in India owing to their situation, 415; such an exclusive company a nuisance in every respect, 417.—Brief review of their history, iii. 119; their privileges invaded, ibid.; a rival company formed, 120; the two companies united, 121; are infected by the spirit of war and conquest, 122; agreements between the company and government, 122–123; interference of government in their territorial administration, 125; and in the direction at home, 126; why unfit to govern a great empire, ibid.; their sovereign and commercial characters incompatible, 216; how the territorial acquisitions of, might be rendered a source of revenue, 400.

Economists, modern, on capital, i. 384 note.—Sect of, in France, their political tenets, iii. 9.

Edinburgh, its present share of trade owing to the removal of the Court and Parliament, ii. 16.

Education, the principal cause of the various talents observable in different men, i. 58.—Those parts of, for which there are no public institutions, generally the best taught, iii. 142; in universities, a view of, 151; of travelling for, 153; course of, in the republics of ancient Greece, 154; in ancient Rome, ibid.; the ancient teachers superior to those in modern times, 159; public institutions injurious to good education, 160–161; inquiry how far the public ought to attend to the education of the people, 162; the different opportunities of education in the different ranks of the people, 164–165; the advantages of a proper attention in the State to the education of the people, 170–171.

Egypt, the first country in which agriculture and manufactures appear to have been cultivated, i, 64.—Agriculture was greatly favored there, iii. 34–35; was long the granary of the Roman empire, 36.

Ejectment, action of, in England, when invented, and its operation, ii. 85.

Employments, the advantages and disadvantages of the different kinds of, in the same neighborhood, continually tend to equality, i. 167; the differences or inequalities among, specified, 167–168; the constancy or precariousness of, influences the rate of wages, 170.

Engels', F., "Lage der Arbeitenden Klasse," ii. 123 note.

England, the dates of its several species of coinage, silver, gold and copper, i. 87; why labor is cheaper there, than in North America, 127; the rate of population in both countries compared, 128.—The produce and labor of, have gradually increased from the earliest accounts in history, while writers are representing the country as rapidly declining, ii. 26; enumeration of obstructions and calamities which the prosperity of the country has surmounted, 27; circumstances that favor commerce and manufactures, 119–120; laws in favor of agriculture, 120–121; why formerly unable to carry on foreign wars of long duration, 147; why the commerce with France has been subjected to so many discouragements, 216; foundation of the enmity between these countries, 217; translation of the commercial treaty concluded in 1703, with Portugal, 282; inquiry into the value of the trade with Portugal, 283–284; might procure gold without the Portugal trade, 285–286; consequences of securing the colony trade by the navigation act, 352–353.

Engrossing. See Forestalling.

Entails, the law of, prevents the division of land by alienation, ii. 76; intention of, 77.

Europe, general review of the several nations of, as to their improvement since the discovery of America, i. 304.—The two richest countries in, enjoy the greatest shares of the carrying trade, ii. 65; inquiry into the advantages derived by, from the discovery and colonization of America, 345; the particular advantages derived by each colonizing country, 349; and by others which have no colonies, 396.

Exchange, the operation of, in the commercial intercourse of different countries, ii. 128–129; the course of, an uncertain criterion of the balance of trade between two countries, 188; is generally in favor of those countries which pay in bank money, against those which pay in common currency, 205.

Excise, the principal objects of, iii. 300; the duties of, more clear and distinct than the customs, 307; affects only a few articles of the most general consumption, ibid.; the excise scheme of Sir Robert Walpole defended, 312; the excise upon home-made fermented and spirituous liquors, the most productive, 314; expense of levying excise duties computed, 326–327; the laws of, more vexatious than those of the customs, 330.

Exercise, military, alteration in, produced by the invention of firearms, iii. 55.

Expenses, private, how they influence the national capital, ii. 30; the advantage of bestowing them on durable commodities, 31–32.

Export trade, the principles of, explained, ii. 63; when rude produce may be advantageously exported, even by a foreign capital, 73; why encouraged by European nations, 154; by what means promoted, ibid.; the motives to, and tendency of, drawbacks of duties, 220; the grant of bounties on, considered, 227; exportation of the materials of manufactures, review of the restraints and prohibitions of, 424 et seq.

F

Faith, articles of, how regulated by the civil magistrate, iii. 186.

Families seldom remain on large estates for many generations in commercial countries, ii. 116.

Famine. See Dearth.

Farmers of land, the several articles that compose their gain, distinguished, i. 106; require more knowledge and experience than the generality of manufacturers, 204; in what their capitals consist, 386.—The great quantity of productive labor put into motion by their capitals, ii. 51; artificers necessary to them, 71; their situation better in England than in any other part of Europe, 85; labor under great disadvantages everywhere, 88–89; origin of long leases of farms, 115; are a class of men least subject to the wretched spirit of monopoly, 168; farmers were forced, by old statutes, to become the only dealers in corn, 260; could not sell corn cheaper than any other corn merchant, 262; could seldom sell it so cheap, 263; the culture of land obstructed by this division of their capitals, 264; the use of corn dealers to the farmers, ibid.—How they contribute to the annual production of the land, according to the French agricultural system of political economy, iii. 10; of the public revenue, their character, ii. 336–337, 361.

Feudal government, miserable state of the occupiers of land under, ii. 12; trade and interest of money under, 13; feudal chiefs, their power, 76; slaves, their situation, 80–82; Metayers, Coloni Partiarii, 82; tenures of land, 83; taxation, 88; original poverty and servile state of the tradesmen in towns, 91–92; immunities seldom granted but for valuable considerations, 92; origin of free burghs, 93–94; the power of the barons reduced by municipal privileges, 95–96; the cause and effect of ancient hospitality, 108; extensive power of the ancient barons, 110; was not established in England until the Norman conquest, 111; was silently subverted by manufactures and commerce, 112.—Account of the casualties or taxes under, iii. 274–275; revenues under, how enjoyed by the great landholders, 344.

Feudal wars, how supported, iii. 48; military exercises not well attended to, under, 51; standing armies gradually introduced to supply the place of the feudal militia, 63.

Fiars, public, in Scotland, the nature of the institution explained, i. 277.

Fines, for the renewal of leases, the motive for exacting them, and their tendency, iii. 233.

Firearms, alteration in the art of war, effected by the invention of, iii. 55–56, 66; the invention of, favorable to the extension of civilization, 67.

Fish, the component parts of the price of, explained, i. 103; multiplication of, at market, by human industry, both limited and uncertain, 349–350; how an increase of demand raises the price of fish, 350.

Fisheries, observations on the tonnage bounties granted to, ii. 244; to the herring fishery, ibid.; the boat fishery ruined by this bounty, 248.

Flanders, the ancient commercial prosperity of, perpetuated by the solid improvements of agriculture, ii. 123.

Flax, the component parts of the price of, explained, i. 103.

Fleetwood, Bishop, remarks on his "Chronicon Preciosum," i., 278, 281.

Flour, the component parts of the price of, explained, i. 102.

Food, will always purchase as much labor as it can maintain on the spot, i. 229; bread and butcher's meat compared, 232–231; is the original source of every other production, 255; the abundance of, constitutes the principal part of the riches of the world, and gives the principal value to many other kinds of riches, 267.

Forestalling and engrossing, the popular fear of, like the suspicions of witchcraft, ii. 268.

Forts, when necessary for the protection of commerce, iii. 98.

France, fluctuations in the legal rate of interest for money there, during the course of the present century, i. 154; remarks on the trade and riches of, 155; the nature of apprenticeships there, 196; the propriety of restraining the planting of vineyards, examined, 240–241; variations in the price of grain there, 275–276; the money price of labor has sunk gradually with the money price of corn, 301–302; foundation of the Mississippi scheme, 441.—Little trade or industry to be found in the Parliament towns of, ii. 15; description of the class of farmers called metayers, 82; laws relating to the tenure of land, 83; Services formerly exacted besides rent, 84; the taille, what, and its operation in checking the cultivation of land, 88; origin of the magistrates and councils of cities, 97; no direct legal encouragement given to agriculture, 120; ill policy of M. Colbert's commercial regulations, 176; French goods heavily taxed in Great Britain, 184; the commercial intercourse between France and England now chiefly carried on by smugglers, 185; the policy of the commercial restraints between France and Great Britain considered, 186; state of the coinage there, 190–191; why the commerce with England has been subjected to discouragements, 216; foundation of the enmity between these countries, 217; remarks concerning the seigniorage on coin, 290; standard of the gold coin there, ibid.; the trade of the French colonies, how regulated, 326; the government of the colonies conducted with moderation, 339; the sugar colonies of, better governed than those of Great Britain, 340; the kingdom of, how taxed, 387; the members of the league fought more in defence of their own importance, than for any other cause, 392.—The present agricultural system of political economy adopted by philosophers there, described, iii. 9; under what direction the funds for the repair of the roads are placed, 93; general state of the roads, 94; the universities badly governed, 139; remarks on the management of the Parliaments of, 187; measures taken in, to reduce the power of the clergy, 195; account of the mode of rectifying the inequalities of the predial taille in the generality of Montauban, 240; the personal taille explained, 266; the inequalities in, how remedied, 267–268; how the personal taille discourages cultivation, 270; the vingtième, 272; stamp duties and the controle, 277–280; the capitation tax, how rated, 287; restraints upon the interior trade of the country by the local variety of the revenue laws, 333; the duties on tobacco and salt, how levied, 337; the different sources of revenue in, 338; how the finances of, might be reformed, 339; the French system of taxation compared with that in Britain, 340; the nature of tontines explained, 359; estimate of the whole national debt of, 360.

Frugality, generally a predominating principle in human nature, ii. 22.

Fuller's earth, the exportation of, why prohibited, ii. 434.

Funds, British, brief historical view of, iii. 350; operation of, politically considered, 368–369; the practice of funding has gradually enfeebled every state that has adopted it, 374.

Fur trade, the first principles of, i. 251.

G

Gama, Vasco da, the first European who discovered a naval track to the East Indies, ii. 301.

Gardening, the gains from, distinguished into the component parts, i. 106; not a profitable employment, 238.

Gems. See Stones.

General fund, in the British finances, explained, iii. 354.

Genoa, why corn is dear in the territory of, i. 289.

Glasgow, the trade of, doubled in fifteen years, by erecting banks there, i. 411.—Why a city of greater trade than Edinburgh, ii. 16.

Gold, not the standard of value in England, i. 88; its value measured by silver, 88–89; reformation of the gold coin, 90; mint price of gold in England, 90–91; the working the mines of, in Peru, very unprofitable, 263; qualities for which this metal is valued, ibid.; the proportionate value of, to silver, how rated before and after the discovery of the American mines, 315–316; is cheaper in the Spanish market than silver, 319.—Great quantities of, remitted annually from Portugal to England, ii. 284; why little of it remains in England, 285; is always to be had for its value, 285–286.

Gold and silver, the prices of, how affected by the increase of the quantity of the metals, i. 286; are commodities that naturally seek the best market, 287; are metals of the least value among the poorest nations, 288; the increase in the quantity of, by means of wealth and improvement, has no tendency to diminish their value, 290; the annual consumption of these metals very considerable, 310–311; annual importation of, into Spain and Portugal, 312; are not likely to multiply beyond the demand, 314; the durability of, the cause of the steadiness of their price, 315; on what circumstances the quantity of, in every particular country, depends, 351; the low value of these metals in a country, no evidence of its wealth, nor their high value of its poverty, 356.—If not employed at home, will be sent abroad, notwithstanding all prohibitions, ii. 20; the reason why European nations have studied to accumulate these metals, 127; commercial arguments in favor of their exportation, 127–128; these, and all other commodities, are mutually the prices of each other, 133; the quantity of, in every country, regulated by the effectual demand, 134; why the prices of these metals do not fluctuate so much as those of other commodities, ibid.; to preserve a due quantity of, in a country, no proper object of attention for the government, 135; the accumulated gold and silver in a country distinguished into three parts, 141; a great quantity of bullion alternately exported and imported for the purposes of foreign trade, 144; annual amount of these metals imported into Spain and Portugal, 145; the importation of, not the principal benefit derived from foreign trade, 148; the value of, how affected by the discovery of the American mines, 149; and by the passage round the Cape of Good Hope to the East Indies, 151; effect of the annual exportation of silver to the East Indies, 153; the commercial means pursued to increase the quantity of these metals in a country, 154–155; bullion, how received and paid at the Bank of Amsterdam, 195–196; at what prices, 197 note; a trading country without mines, not likely to be exhausted by an annual exportation of these metals, 211; the value of, in Spain and Portugal, depreciated by restraining the exportation of them, 236; are not imported for the purposes of plate or coin, but for foreign trade, 287; the search after mines of, the most ruinous of all projects, 306; are valuable, because scarce, and difficult to be procured, 307.

Gorgias, evidence of the wealth he acquired by teaching, i. 213.

Government, civil, indispensably necessary for the security of private property, iii. 69; subordination in society, by what means introduced, 69–70; inequality of fortune introduces civil government for its preservation, 74; the administration of justice, a source of revenue in early times, 75; why government ought not to have the management of turnpikes, 91–92; nor of other public works, 96; want of parsimony during peace, imposes a necessity of contracting debts to carry on a war, 347; must support a regular administration of justice to cause manufactures and commerce to flourish, 348; origin of a national debt, 349; progression of public debts, 350; war, why generally agreeable to the people, 362.

Governors, political, the greatest spendthrifts in society, ii. 29.

Grasses, artificial, how they tend to reduce the price of butcher's meat, i. 236.

Graziers, subject to monopolies obtained by manufacturers to their prejudice, ii. 435.

Greece, foreign trade prohibited in several of the ancient states of, iii. 37; military exercises, a part of general education, 51; soldiers not a distinct profession in, ibid.; course of education in the republics of, 154; the morals of the Greeks inferior to those of the Romans, ibid.; schools of the philosophers and rhetoricians, 156; law no science among the Greeks, 158; courts of justice, 159; the martial spirit of the people, how supported, 168.

Greek colonies, how distinguished from Roman colonies, ii. 300; rapid progress of these colonies, 311.

Greek language, how introduced as a part of university education, iii. 145; philosophy, the three great branches of, 146.

Ground rents, great variations of, according to situation, iii. 246–247; are a more proper subject of taxation than houses, 251.

Gum-senega, review of the regulations imposed on the trade for, ii. 437–438.

Gunpowder, great revolution effected in the art of war by the invention of, iii. 55–67; this invention favorable to the extension of civilization, ibid.

Gustavus Vasa, how enabled to establish the reformation in Sweden, iii. 198.

H

Hanseatic League, causes that rendered it formidable, ii. 97; why no vestige remains of the wealth of the Hanse towns, 122.

Hamburg, agio of the bank of, explained, ii. 193.—Sources of the revenue of that city, iii. 214, 217; the inhabitants of, how taxed to the state, 261.

Hamburg Company, the, some account of, iii. 102.

Hearth money, why abolished in England, iii. 255.

Henry VIII. of England, prepares the way for the reformation by shutting out the authority of the Pope, iii. 199.

Herring buss bounty, remarks on, ii. 245; fraudulent claims of the bounty, 246; the boat fishery the most natural and profitable, 247–248; account of the British white-herring fishery, ibid.—Account of the busses fitted out in Scotland, the amount of their cargoes, and the bounties on them, iii. 404.

Hides, the produce of rude countries, commonly carried to a distant market, i. 341; price of, in England, three centuries ago, 345; salted hides inferior to fresh ones, 346–347; the price of, how affected by circumstances in cultivated and in uncultivated countries, 347.

Highlands of Scotland, interesting remarks on the population of the, i. 139.—Military character of the Highlanders, iii. 57.

Hindustan, the several classes of people there kept distinct, iii. 34; the natives of, how prevented from undertaking long sea voyages, 34–35.

Hobbes, Mr., remarks on his definition of wealth, i. 76.

Hogs, circumstances which render their flesh cheap or dear, i. 336–337.

Holland, observations on the riches and trade of the republic of, i. 155–156; not to follow some business, unfashionable there, 163; cause of the dearness of corn there, 289.—Enjoys the greatest share in the carrying trade of Europe, ii. 65; how the Dutch were excluded from being the carriers to Great Britain, 171; is a country that prospers under the heaviest taxation, 175; account of the Bank of Amsterdam, 194; this republic derives even its subsistence from foreign trade, 218.—Tax paid on houses there, iii. 254; account of the tax upon successions, 274; stamp duties and duties upon registration, 276; high amount of taxes in, 297, 341; its prosperity depends on the republican form of government, 342.

Honoraries from pupils to teachers in colleges, tendency of, to quicken their diligence, iii. 137.

Hose, in the time of Edward IV. how made, i. 365.

Hospitality, ancient, the cause and effect of, ii. 108, iii. 343.

House, different acceptations of the term in England, and some other countries, i. 192; houses considered as part of the national stock, 387; houses produce no revenue, 388.—The rent of, distinguished into two parts, iii. 246; operation of a tax upon house rent, payable by the tenant, 247; house rent the best test of the tenant's circumstances, 250; proper regulation of a tax on, 250–251; how taxed in Holland, 254; hearth money, 255; window tax, ibid.

Hudson's Bay Company, the nature of their establishment and trade, iii. 114; their profits not so high as has been reported, 115.

Hume, David, quoted (?), iii. 174–176.

Hunters, war how supported by a nation of, iii. 44; cannot be very numerous, 46; no established administration of justice needful among them, 68; age the sole foundation of rank and precedence among, 70; no considerable inequality of fortune or subordination to be found among them, 72; no hereditary honors in such a society, 73.

Husbandmen, war how supported by a nation of, iii. 47.

Husbandry. See Agriculture.

I

Idleness unfashionable in Holland, i. 163.

Importation, why restraints have been imposed on, with the two kinds of, ii. 154; how restrained to secure a monopoly of the home-market to domestic industry, 156; the true policy of these restraints doubtful, 157; the free importation of foreign manufactures more dangerous than that of raw materials, 164–165; how far it may be proper to continue the free importation of certain foreign goods, 176; how far it may be proper to restore the free importation of goods, after it has been interrupted, 178; of the materials of manufacture, review of the legal encouragements given to, 418.

Independents, the principles of that sect explained, iii. 179.

Indies. See East and West.

Industry, the different kinds of, seldom dealt impartially with by any nation, i. 41; the species of, frequently local, 60; naturally suited to the demand, 112; is increased by the liberal reward of labor, 143; how affected by seasons of plenty and scarcity, 145; is more advantageously exerted in towns than in the country, 202; the average produce of, always suited to the average consumption, 284; is promoted by the circulation of paper money, 407; three requisites to putting industry in motion, 409.—How the general character of nations is estimated by, ii. 14; and idleness, the proportion between, how regulated, 17; is employed for subsistence, before it extends to conveniences and luxury, 69; whether the general industry of a society is promoted by commercial restraints on importation, 157; private interest naturally points to that employment most advantageous to the society, ibid.; but without intending or knowing it, 159–160; legal regulations of private industry, dangerous assumptions of power, 161; domestic industry ought not to be employed on what can be purchased cheaper from abroad, 162; of the society, can augment only in proportion as its capital augments, 163; when it may be necessary to impose some burden upon foreign industry, to favor that at home, 169–170; the free exercise of industry ought to be allowed to all, 180; the natural effort of every individual to better his condition, will, if unrestrained, result in the prosperity of the society, 277.

Insurance, from fire, and sea risks, the nature and profits of, examined. i. 177.—The trade of insurance may be successfully carried on by a joint stock company, iii. 132–134.

Interest, landed, moneyed and trading, distinguished, ii. 35–36.

Interest, for the use of money, the foundation of that allowance explained, i. 105; historical view of the alterations of, in England and other countries, 152; remarks on the high rates of, in Bengal, 159; and in China, 161; may be raised by defective laws, independent of the influence of wealth or poverty, ibid.; the lowest ordinary rate of, must somewhat more than compensate occasional losses, 162; the common relative proportion between interest and mercantile profits inquired into, 163.—Was not lowered in consequence of the discovery of the American mines, ii. 39; how the legal rate of, ought to be fixed, 43; consequences of its being fixed too high or too low, ibid.; the market rate of, regulates the price of land, 45.—Whether a proper object of taxation, iii. 257–258.

Ireland, why never likely to furnish cattle to the prejudice of Great Britain, ii. 166.—The proposed absentee tax there considered, iii. 325; ought in justice to contribute toward the discharge of the public debt of Great Britain, 398; expediency of a union with Great Britain, ibid.

Isocrates, the handsome income he made by teaching, i. 213.

Italy, the only great country in Europe, which has been cultivated and improved in every part by means of its foreign commerce, ii. 121; was originally colonized by the Dorians, 297.

J

Jamaica, the returns of trade from that island, why irregular, iii. 396.

Jewels. See Stones.

Jurisdictions, territorial, did not originate in the feudal law, ii. 110.

Justice, the administration of, a duty of the sovereign, iii. 68; in early times a source of revenue to him, 75; the making justice subservient to the revenue, a source of great abuses, 76; is never administered gratis, 78; the whole administration of, but an inconsiderable part of the expense of government, 80; how the whole expense of justice might be defrayed from the fees of court, 81; the interference of the jurisdictions of the several English courts of law, accounted for, 82; law language, how corrupted, 83; the judicial and executive power, why divided, 84; by whom the expense of the administration of, ought to be borne, 211.

K

Kalm, the Swedish traveller, his account of the husbandry of the British colonies in North America, i. 332.

Kelp, a rent demanded for the rocks on which it grows, i. 227.

King, under feudal institutions, no more than the greatest baron in the nation, ii. 110; was unable to restrain the violence of his barons, 112.—Treasure-trove an important branch of revenue to, iii. 345; his situation how favorable for the accumulating treasure, ibid.; in a commercial country, naturally spends his revenue in luxuries, ibid.; is hence driven to call upon his subjects for extraordinary aids, 346.

King, Mr. Gregory, his account of the average price of wheat, i. 296.

Kings and their ministers, the greatest spendthrifts in a country, ii. 29.

L

Labor, the fund which originally supplies every nation with its annual consumption, i. 39; how the proportion between labor and consumption is regulated, ibid.; the different kinds of industry seldom dealt impartially with by any nation, 41; the division of labor considered, 43; this division increases the quantity of work, 45; instances in illustration, 52–53; from what principle the division of labor originates, 55; the divisibility of, governed by the market, 60; labor the real measure of the exchangeable value of commodities, 75; different kinds of, not easily estimated by immediate comparison, 76–77; is compared by the intermediate standard of money, ibid.; is an invariable standard for the value of commodities, 79; has a real and a nominal price, 80; the quantity of labor employed on different objects, the only rule for exchanging them in the rude stages of society, 98; difference between the wages of labor and profits on stock, in manufactures, 100; the whole labor of a country never exerted, 106–107; is in every instance suited to the demand, 112; the effect of extraordinary calls for, 114; the deductions made from the produce of labor employed upon land, 121; why dearer in North America than in England, 127; is cheap in countries that are stationary, 129; the demand for, would continually decrease in a declining country, 131; the province of Bengal cited as an instance, ibid.; is not badly paid for in Great Britain, 132; an increasing demand for, favorable to population, 141; that of freemen cheaper to the employers than that of slaves, 142; the money price of, how regulated, 148–149, 201; common labor and skilful labor distinguished, 169; the free circulation of, from one employment to another, obstructed by corporation laws, 216; the unequal prices of, in different places, probably owing to the law of settlements, 222; can always procure subsistence on the spot where it is purchased, 229; the money price of, in different countries, how governed, 287–288; is set in motion by stock employed for profit, 371; the division of, depends on the accumulation of stock, 382; machines to facilitate labor advantageous to society, 397.—Productive and unproductive, distinguished, ii. 7; various orders of men specified, whose labor is unproductive, 8–9; unproductive laborers all maintained by revenue, 10–11; the price of, how raised by the increase of the national capital, 38–39; its price, though nominally raised, may continue the same, 41; is liberally rewarded in new colonies, 310.—Of artificers and manufacturers, never adds any value to the whole amount of the rude produce of the land, according to the French agricultural system of political economy, iii. 13; this doctrine shown to be erroneous, 25; the productive powers of labor, how to be improved, 27.

Laborers, useful and productive, everywhere proportioned to the capital stock on which they are employed, i. 41; share the produce of their labor, in most cases, with the owners of the stock on which they are employed, 101; their wages a continued subject of contest between them and their masters, 123; are seldom successful in their outrageous combinations, 124; the sufficiency of their earnings, a point not easily determined, 125; their wages sometimes raised by increase of work, 126; their demands limited by the funds destined for payment, ibid.; are continually wanted in North America, 127–128; miserable condition of those in China, 129; are not ill paid in Great Britain, 132; if able to maintain their families in dear years, they must be at their ease in plentiful seasons, 133; a proof furnished in the complaints of their luxury, 139; why worse paid than artificers, 169; their interests strictly connected with the interests of the society, 370; labor the only source of their revenue, 384.—Effects of a life of labor on the understandings of the poor, iii. 162–163.

Land, the demand of rent for, how founded, i. 101; the rent paid, enters into the price of the greater part of all commodities, 102; generally produces more food than will maintain the labor necessary to bring it to market, 230; good roads, and navigable canals, equalize difference of situation, 231; that employed in raising food for men or cattle, regulates the rent of all other cultivated land, 237, 246; can clothe and lodge more than it can feed, while uncultivated, and the contrary, when improved, 250; the culture of land producing food, creates a demand for the produce of other lands, 267; produces by agriculture a much greater quantity of vegetable than of animal food, 285; the full improvement of, requires a stock of cattle to supply manure, 329; cause and effect of the diminution of cottagers, 336; signs of the land being completely improved, 339; the whole annual produce, or the price of it, naturally divides itself into rent, wages and profits of stock, 369.—The usual price of, depends on the common rate of interest for money, ii. 44; the profits of cultivation exaggerated by projectors, 66; the cultivation of, naturally preferred to trade and manufactures, on equal terms, 70; artificers necessary to the cultivation of, 71; was all appropriated, though not cultivated, by the northern destroyers of the Roman empire, 75; origin of the law of primogeniture under the feudal government, 76; entails, 77; obstacles to the improvement of land under feudal proprietors, 78–79; feudal tenures, 83; feudal taxation, 88; the improvement of land checked in France by the taille, ibid.; occupiers of, labor under great disadvantages, 89; origin of long leases of, 115; small proprietors, the best improvers of, 118; small purchasers of, cannot hope to raise fortunes by cultivation, ibid.; tenures of, in the British American colonies, 320.—Is the most permanent source of revenue, iii. 218–219; the rent of a whole country, not equal to the ordinary levy upon the people, 220; the revenue from, proportioned, not to the rent, but to the produce, 223; reasons for selling the crown lands, 224; the land lax of Great Britain considered, 228; an improved land tax suggested, 232; a laud tax, however equally rated by a general survey, will soon become unequal, 239; tithes a very unequal tax, 241; tithes discourage improvement, 242.

Landholders, why frequently inattentive to their own particular interests, i. 370.—How they contribute to the annual production of the land, according to the French agricultural system of political economy, iii. 10; should be encouraged to cultivate a part of their own land, 234.

Latin language, how it became an essential part of university education, iii. 144.

Law, the language of, how corrupted, iii. 83; did not improve into a science in ancient Greece, 158; remarks on the courts of justice in Greece and Rome, ibid.

Law, Mr., account of his banking scheme for the improvement of Scotland, i. 440–441.

Lawyers, why amply rewarded for their labor, i. 173.—Great amount of their fees, iii. 79.

Leases, the various usual conditions of, iii. 233–234.

Leather, restrictions on the exportation of unmanufactured, ii. 434.

Lectures in universities, frequently improper for instruction, iii. 141.

Levity, the vices of, ruinous to the common people, and therefore severely censured by them, iii. 180.

Liberty, three duties only necessary for a sovereign to attend to, for supporting a system of, iii. 42.

Lima, computed number of inhabitants in that city, ii. 313.

Linen manufacture, narrow policy of the master manufacturers in, ii. 419.

Literature, the rewards of, reduced by competition, i. 211; was more profitable in ancient Greece, 213; the cheapness of literary education an advantage to the public, 214.

Loans of money, the nature of, analyzed, ii. 35; the extensive operation of, 36–37.

Locke, Mr., remarks on his opinion of the difference between the market and mint prices of silver bullion, i. 93.—His account of the cause of lowering the rates of interest for money examined, ii. 39; his distinction between money and movable goods, 126.

Lodgings, cheaper in London, than in any other capital city in Europe, i. 191.

Logic, the origin and employment of, iii. 148.

Lotteries, the true nature of, and the causes of their success, explained, i. 176–177.

Luck, instances of the universal reliance mankind have on it, i. 176–177.

Lutherans, origin and principles of that sect, iii. 200.

Luxuries, distinguished from necessaries, iii. 289; operation of taxes on, 291; the good and bad properties of taxes on, 324–325.

M

Macedon, Philip of, the superiority that discipline gave his army over those of his enemies, iii. 58.

Machines for facilitating mechanical operations, how invented and improved, i. 50; are advantageous to every society, 397.

Madder, the cultivation of, long confined to Holland, by English tithes, iii. 242.

Madeira wine, how introduced into North America and Britain, ii. 224–225.

Malt, reasons for transferring the duty on brewing to, iii. 316; distillery, how to prevent smuggling in, 319.

Malthusianism, i. 140 note.

Manufactures, the great advantage resulting from a division of labor in, i. 44; instances in illustration, 52; why profits increase in the higher stages of, 103; of what parts the gains of manufactures consist, 106; the private advantage of secrets in manufactures, 115; peculiar advantages of soil and situation, ibid.; monopolies, 116; corporation privileges, 117; the deductions made from labor employed on manufactures, 121–122; inquiry how far they are affected by seasons of plenty and scarcity, 147; are not so materially affected by circumstances in the country where they are carried on, as in the places where they are consumed, 148; new manufactures generally give higher wages than old ones, 186–187; are more profitably carried on in towns than in the open country, 202; by what means the prices of, are reduced, while the society continues improving, 361; instances in hardware, 362; instances in the woollen manufacture, 363; what fixed capitals are required to carry on particular manufactures, 386.—For distant sale, why not established in North America, ii. 72; why manufactures are preferred to foreign trade, for the employment of a capital, 73; motives to the establishment of manufactures for distant sale, 102; how shifted from one country to another, 102–103; natural circumstances which contribute to the establishment of them, 104; their effect on the government and manners of a country, 108; the independence of artisans explained, 113; may flourish amid the ruin of a country, and begin to decay on the return of its prosperity, 146; inquiry how far manufactures might be affected by a freedom of trade, 178; those thrown out of one business can transfer their industry to collateral employments, 179–180; a spirit of combination among manufacturers to support monopolies, 181–182; manufacturers prohibited by old statutes from keeping a shop, or selling their own goods by retail, 260; the use of wholesale dealers to manufacturers, 264; British restraints on manufactures in North America, 332; the exportation of instruments in, prohibited, 440.—Manufacturers, an unproductive class of the people, according to the French agricultural system of political economy, iii. 12, 15; the error of this doctrine shown, 24; how manufacturers augment the revenue of a country, 27–28; why the principal support of foreign trade, 32; require a more extensive market than rude produce of the land, 35; were exercised by slaves in ancient Greece, 37; high prices of, in Greece and at Rome, 38; false policy to check manufactures in order to promote agriculture, 40–41; in Great Britain why principally fixed in the coal countries, 295.

Manure, the supply of, in most places depends on the stock of cattle raised, i. 329.

Maritime countries, why the first that are civilized and improved, i. 63.

Martial spirit, how supported in the ancient republics of Greece and Rome, iii. 168; the want of it now supplied by standing armies, ibid.; the establishment of a militia little able to support it, 169.

Marx, Karl, i. 75 note, ii. 123 note.

Mediterranean Sea peculiarly favorable for the first attempts in navigation, i. 63–64.

Meggens, Mr., his account of the annual importation of gold and silver into Spain and Portugal, i. 312; his relative proportion of each, 316.

Mercantile system explained, iii. 303.

Mercenary troops, origin and reason of, iii. 49; the numbers of, how limited, 50.

Merchants, their judgments more to be depended on respecting the interests of their particular branches of trade, than with regard to the public interest, i. 372; their capitals altogether circulating, 385–386; their dealings extended by the aid of bankers' notes, 414, 421; customs of, first established to supply the want of laws, and afterward admitted as laws, 429; the manner of negotiating bills of exchange explained, ibid.; the pernicious tendency of drawing and redrawing, 430.—In what method their capitals are employed, ii. 45–48; their capitals dispersed and unfixed, 52; the principles of foreign trade examined, 63–64; are the best of improvers, when they turn country gentlemen, 106; their preference among the different species of trade, how determined, 158; are actuated by a narrow spirit of monopoly, 215; the several branches of the corn trade specified and considered, 253; the government of a company of, the worst a country can be under, 317; of London not good economists, 378.—An unproductive class of men, according to the present agricultural system of political economy in France, iii. 15; the quick return of mercantile capitals enables merchants to advance money to government, 348; their capitals increased by lending money to the state, 349.

Mercier, M., de la Riviere, character of his Natural and Essential Order of Political Societies, iii. 31.

Metals, why the best medium of commerce, i. 68; origin of stamped coins, 70–71; why different metals became the standard of value among different nations, 86–87; the durability of, the cause of the steadiness of their price, 315; on what the quantity of precious metals in every particular country depends, 351.—Restraints upon the exportation of, ii. 436.

Metaphysics, the science of, explained, iii. 149.

Metayers, description of the class of farmers so called in France, ii. 82–83.

Methodists, the teachers among, why popular preachers, iii. 173.

Methuen, Mr., translation of the commercial treaty concluded by him between England and Portugal, ii. 282.

Mexico was a less civilized country than Peru, when first visited by the Spaniards, i. 305; present populousness of the capital city, ii. 314; low state of arts at the first discovery of that empire, ibid.

Militia, why allowed to be formed in cities, and its formidable nature, ii. 97–98.—The origin and nature of, explained, iii. 54; how distinguished from the regular standing army, ibid.; must always be inferior to a standing army, 57; a few campaigns of service may make a militia equal to a standing army, 58; instances, ibid.

Milk, a most perishable commodity, how manufactured for store, i. 337.

Mills, wind and water, their late introduction into England, i. 366.

Mines, distinguished by their fertility or barrenness, i. 255; comparison between those of coal and those of metals, 258–259; the competition between, extends to all parts of the world, 260; the working of, a lottery, 262; diamond mines not always worth working, 265; tax paid to the King of Spain from the Peruvian mines, 302; the discovery of mines not dependent on human skill or industry, 352.

Mines in Hungary, why worked at less expense than the neighboring ones in Turkey, iii. 38.

Mining, projects of, uncertain and ruinous, and unfit for legal encouragement, ii. 306.

Mirabeau, Marquis de, his character of the economical table, iii. 31.

Mississippi scheme in France, the real foundation of, i. 441.

Modus for tithe, a relief to the farmer, iii. 245.

Money, the origin of, traced, i. 66; is the representative of labor, 76; the value of, greatly depreciated by the discovery of the American mines, 78; how different metals became the standard money of different nations, 86–87; the only part of the circulating capital of a society, of which the maintenance can diminish their net revenue, 399; makes no part of the revenue of a society, 400; the term money, in common acceptation, of ambiguous meaning, ibid.; the circulating money in society no measure of its revenue, 403; paper money, 404; the effect of paper on the circulation of cash, 405; inquiry into the proportion the circulating money of any country bears to the annual produce circulated by it, 410; paper can never exceed the value of the cash, of which it supplies the place, in any country, 415; the pernicious practice of raising money by circulation explained, 430.—The true cause of its exportation, ii. 20; loans of, the principles of, analyzed, 34; moneyed interest, distinguished from the landed and trading interest, 36; inquiry into the real causes of the reduction of interest, 39–40; money and wealth synonymous terms in popular language, 124; and movable goods compared, 126; the accumulation of, studied by the European nations, 127; the mercantile arguments for liberty to export gold and silver, ibid.; the validity of these arguments examined, 128–129; money and goods mutually the price of each other, 132; overtrading causes complaints of the scarcity of money, 135; why more easy to buy goods with money, than to buy money with goods, 136–137; inquiry into the circulating quantity of, in Great Britain, 142; effect of the discovery of the American mines on the value of, 149; money and wealth different things, 153; bank money explained, 192–193. See Coins, Gold, and Silver.

Monopolies in trade or manufactures, the tendency of, i. 116; are enemies to good management, 231.—Tendency of making a monopoly of colony trade, ii. 371; countries which have colonies, obliged to share their advantages with many other countries, 398; the chief engine in the mercantile system, 402; how monopolies derange the natural distribution of the stock of the society, 403; are supported by unjust and cruel laws, 425.—Of a temporary nature, how far justifiable, iii. 129; perpetual monopolies injurious to the people at large, 130.

Montauban, the inequalities in the predial taille in that generality, how rectified, iii. 240.

Montesquieu, reasons given by him for the high rates of interest among all Mohammedan nations, i. 162.—Examination of his idea of the cause of lowering the rate of interest of money, ii. 39.

Morality, two different systems of, in every civilized society, iii. 180; the principal points of distinction between them, ibid.; the ties of obligation in each system, 181; why the morals of the common people are more regular in sectaries than under the established church, 182; the excesses of, how to be corrected, 183.

Morellet, M., his account of joint stock companies, defective, iii. 131.

Mun, Mr., his illustration of the operation of money exported for commercial purposes, ii. 128.

Music, why a part of the ancient Grecian education, iii. 154; and dancing, great amusements among barbarous nations, 155.

N

Nations, sometimes driven to inhuman customs, by poverty, i. 40; the number of useful and productive laborers in, always proportioned to the capital stock on which they are employed, 41; the several sons of industry seldom dealt impartially by, ibid.; maritime nations, why the first improved, 61.—How ruined by a neglect of public economy, ii. 24; evidences of the increase of a national capital, 25; how the expenses of individuals may increase the national capital, 29.

Navigation, inland, a great means of improving a country in arts and industry, i. 64; the advantages of, 231.—May be successfully managed by joint stock companies, iii. 132.

Navigation act of England, the principal dispositions of, ii. 170; motives that dictated this law, 171; its political and commercial tendency, ibid.; its consequences, so far as it affected the colony trade with England, 352–353; diminished the foreign trade with Europe, 354; has kept up high profits in the British trade, 356–357; subjects Britain to a disadvantage in every branch of trade of which she has not the monopoly, ibid.

Necessaries distinguished from luxuries, iii. 289; operation of taxes on, 290; principal necessaries taxed, 294.

Negro slaves, why not much employed in raising corn in the English colonies, ii. 82; why more numerous on sugar than on tobacco plantations, ibid.

Nile, river, the cause of the early improvement of agriculture and manufactures in Egypt, i. 64.

O

Oats, bread made of, not so suitable to the human constitution, as that made of wheat, i. 249.

Ontology, the science of, explained, iii. 150.

Oxford, University of, the professorships there, sinecures, iii. 138.

P

Paper Money, the credit of, how established, i. 404; the operation of paper money explained, 405; its effect on the circulation of cash, ibid.; promotes industry, 407; operation of the several banking companies established in Scotland, 410; can never exceed the value of the gold and silver, of which it supplies the place, in any country, 415; consequences of too much paper being issued, 416; the practice of drawing and redrawing explained, with its pernicious effects, 428–430; the advantages and disadvantages of paper credit stated, 444–445; ill effects of notes issued for small sums, 448; suppressing small notes, renders money more plentiful, 449; the currency of, does not affect the prices of goods, 450; account of the paper currency in North America, 453.—Expedient of the government of Pennsylvania to raise money, iii. 217; why convenient for the domestic purposes of the North Americans, 393.

Paris enjoys little more trade than is necessary for the consumption of its inhabitants, ii. 15.

Parish ministers, evils attending vesting the election of, in the people, iii. 201.

Parsimony is the immediate cause of the increase of capitals, ii. 17; promotes industry. ibid.; frugal men public benefactors, 22.—Is the only means by which artificers and manufacturers can add to the revenue and wealth of society, according to the French agricultural system of political economy, iii. 15.

Pasture land, under what circumstances more profitable than arable land, i. 233; why it ought to be inclosed, 235.

Patronage, the right of, why established in Scotland, iii. 202–203.

Pay, military, origin and reason of, iii. 49.

Pennsylvania, account of the paper currency there, i. 454.—Good consequences of the government there having no religious establishment, iii. 179; derive a revenue from their paper currency, 393.

People, how divided into productive and unproductive classes, according to the present French system of agricultural political economy, iii. 9; the unproductive class, greatly useful to the others, 16; the great body of, how rendered unwarlike, 53; the different opportunities of education in the different ranks of, 164; the inferior ranks of, the greatest consumers, 312–313; the luxurious expenses of these ranks ought only to be taxed, 314.

Persecution for religious opinions, the true cause of, iii. 172–173.

Peru, the discovery of the silver mines in, occasioned those in Europe to be in a great measure abandoned, i. 260; these mines yield but small profit to the proprietors, 261–262; tax paid to the King of Spain from these mines, 303; the early accounts of the splendor and state of arts in this country, greatly exaggerated, 305–306; present state of, under the Spanish government, ibid.; the working of the mines there become gradually more expensive, 320.—Low state of arts there when first discovered, ii. 314; is probably more populous now, than at any former period, 315.

Philosophy, natural, the origin and objects of, iii. 146; moral, the nature of, explained, 148; logic, the origin and employment of, ibid.

Physicians, why amply rewarded for their labor, i. 173.

Physics, the ancient system of, explained, iii. 149.

Pinmaking, the extraordinary advantage of a division of labor in this art, i. 44.

Plate of private families, the melting it down to supply state exigencies an insignificant resource, ii. 141; new plate is chiefly made from old, 288.

Plowmen, their knowledge more extensive than the generality of mechanics, i. 204.

Pneumatics, the science of, explained, iii. 149.

Poivre, M., his account of the agriculture of Cochin-China, i. 243.

Poland, a country still kept in poverty by the feudal system of its government, i. 355.

Political economy, the two distinct objects, and two different systems of, ii. 124.—The present agricultural system of, adopted by French philosophers, described, iii. 7 et seq.; classes of the people who contribute to the annual produce of the land, 9; how proprietors contribute, ibid.; how cultivators contribute, 10; artificers and manufacturers, unproductive, 12; the unproductive classes maintained by the others, 15; bad tendency of restrictions and prohibitions in trade, 20–21; how this system is delineated by M. Quesnay, 22; the bad effects of an injudicious political economy, how corrected, 24; the capital error in this system pointed out, ibid.

Poll-taxes, origin of, under the feudal government, ii. 92.—Why esteemed badges of slavery, iii. 271; the nature of, considered, 286.

Poor, history of the laws made for the provision of, in England, i. 216–217.

Pope of Rome, the great power formerly assumed by, iii. 189; his power how reduced, 193–194; rapid progress of the reformation, 197.

Population, riches and extreme poverty equally unfavorable to, i. 140; is limited by the means of subsistence, ibid., 253–254.

Porter, the proportion of malt used in the brewing of, iii. 316.

Portugal, the cultivation of the country not advanced by its commerce, ii. 121; the value of gold and silver there, depreciated by prohibiting their exportation, 236; translation of the commercial treaty concluded in 1703 with England, 282; a large share of the Portugal gold sent annually to England. 284; motives that led to the discovery of a passage to the East round the Cape of Good Hope, 301; lost its manufactures by acquiring rich and fertile colonies, 373.

Post-office, a mercantile project well calculated for being managed by a government, iii. 215.

Potatoes, remarks on, as an article of food, i. 248; culture, and great produce of, 249; the difficulty of preserving them the great obstacle to cultivating them for general diet, 250.

Poverty sometimes urges nations to inhuman customs, i. 40; is no check to the production of children, 139; but very unfavorable to raising them, 140.

Poultry, the cause of their cheapness, i. 334; is a more important article of rural economy in France than in England, 335.

Pragmatic Sanction in France, the object of, iii. 196; is followed by the Concordat, ibid.

Preferments, ecclesiastical, the means by which a national clergy ought to be managed by the civil magistrate, iii. 186–187; alterations in the mode of electing to them, 188–189, 195.

Presbyterian church government, the nature of, described, iii. 203; character of the clergy of, ibid., 208.

Prices, real and nominal, of commodities distinguished, i. 80; money price of goods explained, 97; rent for land enters into the price of the greater part of all commodities, 102; the component parts of the prices of goods explained, 103; natural and market prices distinguished, and how governed, 108, 149.—Though raised at first by an increase of demand, are always reduced by it in the result, iii. 121.

Primogeniture, origin and motive of the law of succession by, under the feudal government, ii. 75; is contrary to the real interests of families, 77–78.

Princes, why not well calculated to manage mercantile projects for the sake of a revenue, iii. 215–216.

Prodigality, the natural tendency of, both to the individual and to the public, ii. 16–17; prodigal men enemies to their country, 22.

Produce of land and labor, the source of all revenue, ii. 9; the value of, how to be increased, 25.

Professors in universities, circumstances which determine their merit, iii. 204–206.

Profit, the various articles of gain that pass under the common idea of, i. 106; an average rate of, in all countries, 107; averages of, extremely difficult to ascertain, 151; interest of money the best standard of, 152; the diminution of, a natural consequence of prosperity, 156; clear and gross profit, distinguished, 162; the nature of the highest ordinary rate of, defined, 163; double interest, deemed in Great Britain a reasonable mercantile profit, ibid.; in thriving countries, low profit may compensate the high wages of labor, 164; the operation of high profits and high wages, compared, ibid.; compensates inconveniences and disgrace, 167–168; of stock, how affected, 181–182; large profits must be made from small capitals, 183; why goods are cheaper in the metropolis than in country villages, 184; great fortunes more frequently made by trade in large towns than in small ones, 185; is naturally low in rich and high in poor countries, 371.—How that of the different classes of traders is raised, ii. 48–49; private, the sole motive of employing capitals in any branch of business, 66; when raised by monopolies, encourage luxury, 377.

Projects, unsuccessful, in arts, injurious to a country, ii. 22.

Property, passions which prompt mankind to the invasion of, iii. 69; civil government necessary for the production of, ibid.; wealth a source of authority, 71, 231.

Provisions, how far the variations in the price of, affect labor and industry, i. 133, 145, 148; whether cheaper in the metropolis, or in the country villages, 184–185; the prices of, better regulated by competition than by law, 225; a rise in the prices of, must be uniform, to show that it proceeds from a depreciation of the value of silver, 357–358.

Provisors, object of the statute of, in England, iii. 195.

Prussia, mode of assessing the land tax there, iii. 238.

Public works and institutions, how to be maintained, iii, 85–86; equity of tolls for passage over roads, bridges and canals, 87–88; why government ought not to have the management of turnpikes, 91–94; nor of other public works, 97.

Purveyance, a service still exacted in most parts of Europe, ii. 87–88.

Q

Quakers of Pennsylvania, inference from their resolution to emancipate all their negro slaves, ii. 82 note.

Quesnay, M., view of his agricultural system of political economy, iii. 22; his doctrine generally subscribed to, 30–31.

Quito, populousness of that city, ii. 313–314.

R

Reformation, rapid progress of the doctrines of, in Germany, iii. 197; in Sweden and Switzerland, 198; in England and Scotland, 199; origin of the Lutheran and Calvinistic sects, ibid.

Regulated companies. See Companies.

Religion, the object of instruction in, iii. 171; advantage the teachers of a new religion enjoy over those of one that is established, 172; origin of persecution for heretical opinions, ibid.; how the zeal of the inferior clergy of the Church of Rome is kept alive, 173; utility of ecclesiastical establishments, 175; how united with the civil power, 176.

Rent, reserved, ought not to consist of money, i. 80; but of corn, 81; of land, constitutes a third part of the price of most kinds of goods, 102; an average rate of, in all countries, and how regulated, 108; makes the first deduction from the produce of labor employed upon land, 121; the terms of, how adjusted between landlord and tenant, 226; is sometimes demanded for what is altogether incapable of human improvement, 227; is paid for, and produced by, land in almost all situations, 230; the general proportion paid for coal mines, 259; and metal mines, 259–260; mines of precious stones frequently yield no rent, 265; how paid in ancient times, 277; is raised, either directly or indirectly, by every improvement in the circumstances of society, 367; gross and net rent distinguished, 395.—How raised and paid under feudal government, ii. 12; present average proportion of, compared with the produce of the land, 13.

Rent of houses distinguished into two parts, iii. 246; difference between rent of houses, and rent of land, 250; rent of a house the best estimate of a tenant's circumstances, ibid.

Retainers, under the feudal system of government, described, ii. 108; how the connection between them and their lords was broken, 112–113

Revenue, the original sources of, pointed out, i. 104–105; of a country, of what it consists, 395–396; the net revenue of a society diminished by supporting a circulating stock of money, 399; money no part of revenue, 400; is not to be computed in money, but in what money will purchase, 402.—How produced, and how appropriated, in the first instance, ii. 9–10; produce of land, 10; produce of manufactures, ibid.; must always replace capital, ibid.; the proportion between revenue and capital, regulates the proportion between idleness and industry, 17; both the savings and the spendings of, annually consumed, 18; of every society, equal to the exchangeable value of the whole produce of its industry, 160; of the customs, increased by drawbacks, 226.—Why government ought not to take the management of turnpikes, to derive a revenue from them, iii. 91; public works of a local nature, always better maintained by provincial revenues, than by the general revenue of the state, 96; the abuses in provincial revenues trifling, when compared with those in the revenue of a great empire, 97; the greater the revenue of the church, the smaller must be that of the state, 208; the revenue of the state ought to be raised proportionably from the whole society, 211; local expenses ought to be defrayed by a local revenue, ibid.; inquiry into the sources of public revenues, 213; of the republic of Hamburg, 214, 217; whether the government of Britain could undertake the management of the Bank, to derive a revenue from it, 214; the post-office a mercantile project well calculated for being managed by government, 215; princes not well qualified to improve their fortunes by trade, ibid.; the English East India Company good traders before they became sovereigns, but each character now spoils the other, 216; expedient of the government of Pennsylvania to raise money, 217; rent of land the most permanent fund, 218; feudal revenues, 219; of Great Britain, 220–221; revenue from land proportioned, not to the rent, but to the produce, 222; reasons for selling the crown lands, 223; an improved land tax suggested, 232; the nature and effect of tithes explained, 241; why a revenue cannot be raised in kind, 244; when raised in money, how affected by different modes of valuation, 244–245; a proportionable tax on houses, the best source of revenue, 250; remedies for the diminution of, according to their causes, 308; bad effects of farming out public revenues, 336; the different sources of revenue in France, 338; how expended, in the rude state of society, 343.

Rice, a very productive article of cultivation, i. 247; requires a soil unfit for raising any other kind of food, 248; rice countries more populous than corn countries, 308.

Riches, the chief enjoyment of, consists in the parade of, i. 264–265.

Risk, instances of the inattention mankind pay to it, i. 178.

Roads, good, the public advantages of, i. 231.—How to be made and maintained, iii. 86; the maintenance of, why improper to be trusted to private interest, 90; general state of, in France, 93; in China, 94–95.

Romans, why copper became the standard of value among them, i. 71, 87; the extravagant prices paid by them for certain luxuries for the table, accounted for, 326; the value of silver higher among them than at the present time, 327.

Rome, the republic of, founded on a division of land among the citizens, ii. 298; the agrarian law only executed upon one or two occasions, ibid.; how the citizens who had no land, subsisted, 299; distinction between the Roman and Greek colonies, 300; the improvement of the former slower than that of the latter, 311–312; origin of the Social War, 390; the republic ruined by extending the privilege of Roman citizens to the greater part of the inhabitants of Italy, 392.—When contributions were first raised to maintain those who went to the wars, iii. 48; soldiers not a distinct profession there, 51; improvement of the Roman armies by discipline, 60; how that discipline was lost, 61–62; the fall of the Western empire, how effected, 62; remarks on the education of the ancient Romans, 154; their morals superior to those of the Greeks, 155; state of law and forms of justice, 157–158; the martial spirit of the people, how supported, 168; great reductions of the coin practiced by, at particular exigencies, 378.

Rome, modern, how the zeal of the inferior clergy of, is kept alive, iii. 173; the clergy of, one great spiritual army dispersed in different quarters over Europe, 189–190; their power during the feudal monkish ages similar to that of the temporal barons, 190; their power how reduced, 193–194.

Rouen, why a town of great trade, ii. 15.

Ruddiman, Mr., remarks on his account of the ancient price of wheat in Scotland, i. 280.

Russia was civilized under Peter I. by a standing army, iii. 65.

S

Sailors, why no sensible inconvenience is felt by the great numbers disbanded at the close of a war, ii. 179.

Salt is an object of heavy taxation everywhere, iii. 294; the collection of the duty on, expensive, 327; account of foreign salt imported into Scotland, and of Scots salt delivered duty free, for the fishery, 407.

San Domingo. See Domingo.

Sardinia, the land tax how assessed there, iii. 239.

Saxon lords, their authority and jurisdiction as great before the conquest as those of the Normans were afterward, ii. 110.

Schools, parochial, observations on, iii. 166–167.

Science is the great antidote to the poison of enthusiasm and superstition, iii. 183.

Scipio, his Spanish militia, rendered superior to the Carthaginian militia by discipline and service, iii. 60.

Scotland, compared with England, as to the prices of labor and provisions, i. 134–136; remarks on the population of the Highlands, 139–140; the market rate of interest higher than the legal rate, 154; the situation of cottagers there, described, 189–190; apprenticeships and corporations, 196–197; the common people of, why neither so strong nor so handsome as the same class in England, 249; cause of the frequent emigrations from, 288; progress of agriculture there before the union with England, 330; present obstructions to better husbandry, 331; the price of wool reduced by the union, 349; operation of the several banking companies established there, 410; amount of the circulating money there before the union, 411; amount of the present circulating cash, 412; course of dealings in the Scots bank, ibid.; difficulties occasioned by these banks issuing too much paper, 419; necessary caution for some time observed by the banks in giving credit to their customers, with the good effects of it, 423; the scheme of drawing and redrawing adopted by traders, 428; its pernicious tendency explained, 429; history of the Ayr bank, 430; Mr. Law's scheme to improve the country, 440–441; the prices of goods in, not altered by paper currency, 451; effect of the optional clauses in their notes, 451–452.—Cause of the speedy establishment of the reformation there, iii. 199; the disorders attending popular elections of the clergy there, occasion the right of patronage to be established, 202; amount of the whole revenue of the clergy, 208.

Sea service and military service by land compared, i. 179.

Sects in religion, the more numerous, the better for society, iii. 178; why they generally profess the austere system of morality, 182.

Self-love the governing principle in the intercourse of human society, i. 56.

Servants, menial, distinguished from hired workmen, ii. 7; the various orders of men, who rank in the former class, in reference to their labors, 8–9; their labor unproductive, iii. 25

Settlements of the poor, brief review of the English laws relating to, i. 217; the removals of the poor, a violation of natural liberty, 223.—The law of, ought to be repealed, ii. 181.

Sheep, frequently killed in Spain, for the sake of the fleece and the tallow, i. 342.—Severe laws against the exportation of them and their wool, ii. 425.

Shepherds, war how supported by a nation of, iii. 44; inequality of fortune among, the source of great authority, 72; birth and family highly honored in nations of shepherds, 73; inequality of fortune first began to take place in the age of shepherds, 74; and introduced civil government, ibid.

Shetland, how rents are estimated and paid there, i. 227–228.

Silk manufacture, how transferred from Lucca to Venice, ii. 102.

Silver, the first standard coinage of the northern subverters of the Roman empire, i. 87; its proportional value to gold regulated by law, 88; is the measure of the value of gold, 89; mint price of silver in England, 90–91; inquiry into the difference between the mint and market prices of bullion, 93; how to preserve the silver coin from being melted down for profit, 95; the mines of, in Europe, why generally abandoned, 260; evidences of the small profit they yield to proprietors in Peru, 261; qualities for which this metal is valued, 264; the most abundant mines of, would add little to the wealth of the world, 266; but the increase in the quantity of, would depreciate its own value, 269; circumstauces that might counteract this effect, 270; historical view of the variations in the value of, during the last four centuries, 271; remarks on its rise in value compared with corn, 276; circumstances that have misled writers in reviewing the value of silver, 277; corn the best standard for judging of the real value of silver, 284–285; the price of, how affected by the increase of quantity, 286; the value of, sunk by the discovery of the American mines, 291; when the reduction of its value from this cause appears to have been completed, 292; tax paid from the Peruvian mines to the King of Spain, 302; the value of silver kept up by an extension of the market, 303–304; is the most profitable commodity that can be sent to China, 310; the value of, how proportioned to that of gold, before and after the discovery of the American mines, 315–316; the quantity commonly in the market in proportion to that of gold, probably greater than their relative values indicate, 317; the value of, probably rising, and why, 321; the opinion of a depreciation of its value, not well founded, 358.—The real value of, degraded by the bounty on the exportation of corn, ii. 233.

Sinking Fund in the British finances, explained, iii. 356; is inadequate to the discharge of former debts, and almost wholly applied to other purposes, 364; motives to the misapplication of it, ibid.

Slaves, the labor of, dearer to the masters than that of free men, i. 142.—Under feudal lords, circumstances of their situation, ii. 80; countries where this order of men still remains, 80–81; why the service of slaves is preferred to that of free men, 81; their labor why unprofitable, 83; causes of the abolishing of slavery in America, 82 note; causes of the abolishing of slavery throughout the greater part of Europe, 83–84; receive more protection from the magistrate in an arbitrary government, than in one that is free, 340–341.—Why employed in manufactures, by the ancient Grecians, iii. 37; why no improvements are to be expected from them, 38.

Smuggling, a tempting, but generally a ruinous employment, i. 181.—Encouraged by high duties, iii. 305; remedies against, 308; the crime of, morally considered, ibid.

Society, human, the first principles of, i. 56–57.

Soldiers, remarks on their motives for engaging in the military line, i. 179; comparison between the land and sea service, 179–180.—Why no sensible inconvenience is felt by the disbanding of great numbers after a war is over, ii. 179–180.—Reason of their first serving for pay, iii. 49; how they became a distinct class of the people, 54; how distinguished from the militia, ibid.; alteration in their exercise produced by the invention of firearms, 55.

South Sea Company, amazing capital once enjoyed by, iii. 112; mercantile and stock-jobbing projects of, 116; assiento contract, ibid.; whale fishery, 117; the capital of, turned into annuity stock, 117–118, 353–354.

Sovereign and trader, inconsistent characters, iii. 216.

Sovereign, three duties only, necessary for him to attend to, for supporting a system of natural liberty, iii. 42; how he is to protect the society from external violence, 44, 66; and the members of it, from the injustice and oppression of each other, 68; and to maintain public works and institutions, 85.

Spain, one of the poorest countries in Europe, notwithstanding its rich mines, i. 355.—Its commerce has produced no considerable manufactures for distant sale, and the greater part of the country remains uncultivated, ii. 121; Spanish mode of estimating their American discoveries, 125; the value of gold and silver there, depreciated by laying a tax on the exportation of them, 236; agriculture and manufactures there, discouraged by the redundancy of gold and silver, 237; natural consequences that would result from taking away this tax, 238; the real and pretended motives of the court of Castile for taking possession of the countries discovered by Columbus, 305; the tax on gold and silver, how reduced, 306; gold, the object of all the enterprises to the new world, ibid.; the colonies of, less populous than those of any other European nation, 313; asserted an exclusive claim to all America, until the miscarriage of their Invincible Armada, 316; policy of the trade with the colonies, 325; the American establishments of, effected by private adventurers, who received little beyond permission from the government, 344; lost its manufactures by acquiring rich and fertile colonies, 373.—The alcavala tax there explained, iii. 331; the ruin of the Spanish manufactures attributed to it, 332.

Speculation, a distinct employment in improved society, i. 51; speculative merchants described, 184.

Stage, public performers on, paid for the contempt attending their profession, i. 176.—The political use of dramatic representations, iii. 183.

Stamp duties in England and Holland, remarks on, iii. 276–280.

Steel-bow tenants in Scotland, what, ii. 84.

Stock, the profits raised on, in manufactures, explained, i. 98–99; in trade, an increase of, raises wages and diminishes profit, 151; must be larger in a great town than in a country village, 153; natural consequences of a deficiency of stock in new colonies, 157; the profits on, little affected by the easiness or difficulty of learning a trade, 170; but by the risk, or disagreeableness of the business, 182; stock employed for profit, sets into motion the greater part of useful labor, 371; no accumulation of, necessary in the rude state of society, 381; the accumulation of, necessary to the division of labor, 382; stock distinguished into two parts, 385; the general stock of a country or society, explained, 387; houses, 388; improved land, 389; personal abilities, ibid.; money and provisions, 390; raw materials and manufactured goods, ibid.; stock of individuals, how employed, 393; is frequently buried or concealed, in arbitrary countries, 393–394.—The profits on, decrease, in proportion as the quantity increases, ii. 13; on what principles stock is lent and borrowed at interest, 34; that of every society divided among different employments, in the proportion most agreeable to the public interest, by the private views of individuals, 401; the natural distribution of, deranged by monopolizing systems, 403; every derangement of, injurious to the society, 405.—Mercantile, is barren and unproductive, according to the French agricultural system of political economy, iii. 12; how far the revenue from, is an object of taxation, 256–257; a tax on, intended under the land tax, 260.

Stockings, why cheaply manufactured in Scotland, i. 190–191; when first introduced into England, 365.

Stone quarries, their value depends on situation, i. 252, 269.

Stones, precious, of no use but for ornament, and how the price of is regulated, i. 265; the most abundant mines of, would add little to the wealth of the world, 266.

Subordination, how introduced into society, iii. 69; personal qualifications, 70; age and fortune, 70–71; birth, 72; birth and fortune two great sources of personal distinction, 73.

Subsidy, old, in the English customs, the drawbacks upon, ii. 221.—Origin and import of the term, iii. 303.

Sugar, a very profitable article of cultivation, i. 243; ii. 82; drawbacks on the exportation of, from England, 222; might be cultivated by the drill plow, instead of all hand labor by slaves, 340.—A proper subject for taxation, as an article sold at a monopoly price, iii. 322.

Sumptuary laws superfluous restraints on the common people, ii. 29.

Surinam, present state of the Dutch colony there, ii. 318.

Switzerland, establishment of the reformation in Berne and Zurich, iii. 198; the clergy there zealous and industrious, 209; taxes how paid there, 262, 275.

T

Taille, in France, the nature of that tax, and its operation, explained, iii. 266 et seq.

Talents, natural, not so various in different men as is supposed, i. 58.

Tartars, their manner of conducting war, iii. 44; their invasions dreadful, 45.

Tavernier, his account of the diamond mines of Golconda and Visiapour, i. 265.

Taxes, the origin of, under the feudal government, ii. 92.—The sources from whence they must arise, iii. 224; unequal taxes, 225; ought to be clear and certain, 226; ought to be levied at the times most convenient for payment, ibid.; ought to take as little as possible out of the pockets of the people more than is brought into the public treasury, 227; how they may be made more burdensome to the people than beneficial to the sovereign, 228; the land tax of Great Britain, 229; land tax at Venice, 232; improvements suggested for a land tax, ibid.; mode of assessing the land tax in Prussia, 238; tithes a very unequal tax, and a discouragement to improvement, 241; operation of tax on house rent, payable by the tenant, 246; a proportionable tax on houses, the best source of revenue, 250; how far the revenue from stock is a proper object of taxation, 256; whether interest of money is proper for taxation, 257–258; how taxes are paid at Hamburg, 261; in Switzerland, 262; taxes upon particular employments, 264; poll-taxes, 270; taxes, badges of liberty, 271; taxes upon the transfer of property, 273; stamp duties, 276–277; on whom the several kinds of taxes principally fall, 278; taxes upon the wages of labor, 281; capitation taxes, 286; taxes upon consumable commodities, 289; upon necessaries, 291; upon luxuries, ibid.; principal necessaries taxed, 294; absurdities in taxation, 295; different parts of Europe very highly taxed, 296–297; two different methods of taxing consumable commodities, 297; Sir Matthew Decker's scheme of taxation considered, 298; excise, 300; customs, 301; taxation sometimes not an instrument of revenue, but of monopoly, 305; improvements of the customs suggested, 306–307; taxes paid in the price of a commodity little adverted to, 325–326; on luxuries, the good and bad properties of, 326; bad effects of farming them out, 336; how the finances of France might be reformed, 339; French and English systems of taxation compared, 340; new taxes always generate discontent, 364; how far the British system of taxation might be applicable to all the different provinces of the empire, 382; such a plan might speedily discharge the national debt, 388–389.

Tea, great importation and consumption of that drug in Britain, i. 307–308.

Teachers in universities, tendency of endowments to diminish their application, iii. 137; the jurisdictions to which they are subject, little calculated to quicken their diligence, 138; are frequently obliged to gain protection by servility, 139; defects in their establishments, 140; teachers among the ancient Greeks and Romans, superior to those of modern times, 159–160; circumstances which draw good ones to, or drain them from, the universities, 205; their employment naturally renders them eminent in letters, 206–207.

Tenures, feudal, general observations on, ii. 12; described, 76.

Theology, monkish, the complexion of, iii. 150.

Tin, average rent of the mines of, in Cornwall, i. 260; yield a greater profit to the proprietors than the silver mines of Peru, 261; regulations under which tin mines are worked, 262.

Tobacco, the culture of, why restrained in Europe, i. 245; not so profitable an article of cultivation in the West Indies as sugar, ibid.—The amount and course of the British trade with, explained, ii. 64; the whole duty upon, drawn back on exportation, 222; consequences of the exclusive trade Britain enjoys with Maryland and Virginia in this article, 351.

Tolls, for passage over roads, bridges, and navigable canals, the equity of, shown, iii. 87; upon carriages of luxury, ought to be higher than upon carriages of utility, 88; the management of turnpikes often an object of just complaint, 90; why government ought not to have the management of turnpikes, 91–93, 323.

Tonnage and poundage, origin of those duties, iii. 302.

Tontine in the French finances, what, with the derivation of the name, iii. 359.

Toulouse, salary paid to a counsellor or judge in the Parliament of, iii. 81.

Towns, the places where industry is most profitably exerted, i. 202; the spirit of combination prevalent among manufacturers, 203, 207.—According to what circumstances the general character of the inhabitants, as to industry, is formed, ii. 14–16; the reciprocal nature of the trade between them and the country, explained, 68; subsist on the surplus produce of the country, 70; how first formed, 71; are continual fairs, ibid.; the original poverty and servile state of the inhabitants of, 91; their early exemptions and privileges, how obtained, ibid.; the inhabitants of, obtained liberty much earlier than the occupiers of land in the country, 93; origin of free burghs, 94; origin of corporations, ibid.; why allowed to form militia, 96; how the increase and riches of commercial towns contributed to the improvement of the countries to which they belonged, 106.

Trade, double interest deemed a reasonable mercantile profit in, i. 163.—Four general classes of, equally necessary to, and dependent on, each other, ii. 45–46; wholesale, three different sorts of, 57; the different returns of home and foreign trade, 58; the nature and operation of the carrying trade examined, 61; the principles of foreign trade examined, 63–64; the trade between town and country explained, 68; original poverty and servile slate of the inhabitants of towns, under feudal government, 91; exemptions and privileges granted to them, 92; extension of commerce by rude nations selling their own raw produce for the manufactures of more civilized countries, 100–101; its salutary effects on the government and manners of a country, 107; subverted the feudal authority, 113; the independence of tradesmen and artisans, explained, 114; the capitals acquired by, very precarious, until some part has been realized by the cultivation and improvement of land, 122; over-trading, the cause of complaints of the scarcity of money, 135; the importation of gold and silver not the principal benefit derived from foreign trade, 148; effect produced in trade and manufactures, by the discovery of America, 150; and by the discovery of a passage to the East Indies round the Cape of Good Hope, 151; error of commercial writers in estimating national wealth by gold and silver, 153; inquiry into the cause and effect of restraints upon trade, 154; individuals, by pursuing their own interest, unknowingly promote that of the public, 159–160; legal regulations of trade, unsafe, 161; retaliatory regulations between nations, 176–177; measures for laying trade open, ought to be carried into execution slowly, 182; policy of the restraints on trade between France and Britain considered, 185; no certain criterion to determine on which side the balance of trade between two countries turns, 187; most of the regulations of, founded on a mistaken doctrine of the balance of trade, 206; is generally founded on narrow principles of policy, 213; drawbacks of duties, 220; the dealer who employs his whole stock in one single branch of business, has an advantage of the same kind with the workman who employs his whole labor on a single operation, 262; consequences of drawing it from a number of small channels into one great channel, 366; colony trade, and the monopoly of that trade, distinguished, 370; the interest of the consumer constantly sacrificed to that of the producer, 443.—Advantages attending a perfect freedom of, to landed nations, according to the present agricultural system of political economy in France, iii. 19; origin of foreign trade, 20; consequences of high duties and prohibitions, in landed nations, 21–22; how trade augments the revenue of a country, 28; nature of the trading intercourse between the inhabitants of towns and those of the country, 40.

Trades, cause and effect of the separation of, i. 46; origin of, 56–57.

Transit duties explained, iii. 323.

Travelling for education, summary view of the effects of, iii. 153.

Treasures, why formerly accumulated by princes, ii. 148.

Treasure-trove, the term explained, i. 394.—Why an important branch of revenue under the ancient feudal governments, iii. 344–345.

Turkey Company, short historical view of, iii. 103.

Turnpikes. See Tolls.

Tithes, why an unequal tax, iii. 241; the levying of, a great discouragement to improvements, 242; the fixing a modus for, a relief to the farmer, 245.

U

Universities, the emoluments of the teachers in, how far calculated to promote their diligence, iii. 137; the professors at Oxford have mostly given up teaching, 138; those in France subject to incompetent jurisdictions, 139; the privileges of graduates improperly obtained, ibid.; abuse of lectureships, 140; the discipline of, seldom calculated for the benefit of the students, 141; are, in England, more corrupted than the public schools, 143; original foundation of, ibid.; how Latin became an essential article in academical education, 144; how the study of the Greek language was introduced, 145; the three great branches of the Greek philosophy, 146; are now divided into five branches, 148; the monkish course of education in, 149; have not been very ready to adopt improvements, 152; are not well calculated to prepare men for the world, 154; how filled with good professors, or drained of them, 205; where the worst and best professors are generally to be met with, 206. See Colleges and Teachers.

V

Value, the term defined, i. 73.

Vedius Pollio, his cruelty to his slaves checked by the Roman emperor Augustus, which could not have been done under the republican form of government, ii. 342.

Venice, origin of the silk manufacture in that city, ii. 102; traded in East India goods before the sea track round the Cape of Good Hope was discovered, 300.—Nature of the land tax in that republic, iii. 232.

Venison, the price of, in Britain, does not compensate the expense of a deer park, i. 333–334.

Vicesima Hereditatum among the ancient Romans, the nature of, explained, iii. 273–274.

Villages, how first formed, ii. 71.

Villeinage, probable cause of the wearing out of that tenure in Europe, ii. 83–84.

Vineyard, the most profitable part of agriculture, both among the ancients and moderns, i. 239–240; great advantages derived from peculiarities of soil in, 242.

W

Wages of labor how settled between masters and workmen, i. 122; the workmen generally obliged to comply with the terms of their employers, 123; the opposition of workmen outrageous, and seldom successful, 124; circumstances which operate to raise wages, 125–126; the extent of wages limited by the funds from which they arise, 127; why higher in North America, than in England, ibid.; are low in countries that are stationary, 129; not oppressively low in Great Britain, 132; a distinction made here between the wages in summer and in winter, ibid.; if sufficient in dear years, they must be ample in seasons of plenty, 133; different rates of, in different places, 134; liberal wages encourage industry and propagation, 143; an advance of, necessarily raises the price of many commodities, 150; an average of, not easily ascertained, 151; the operation of high wages and high profits compared, 164; causes of the variations of, in different employments, 167; are generally higher in new, than in old trades, 187, 215; legal regulations of, destroy industry and ingenuity, 224.—Natural effect of a direct tax upon, iii. 281–282.

Walpole, Sir Robert, his excise scheme defended, iii. 312.

Wants of mankind, how supplied through the operation of labor, i. 66; how extended, in proportion to their supply, 253; the far greater part of them supplied from the produce of other men's labor, 381.

Wars, foreign, the funds for the maintenance of, in the present century, have little dependence on the quantity of gold and silver in a nation, ii. 142.—How supported by a nation of hunters, iii. 44; by a nation of shepherds, ibid.; by a nation of husbandmen, 47; men of military age, what proportion they bear to the whole society, 48; feudal wars, how supported, ibid.; causes which in the advanced state of society rendered it impossible for those who took the field, to maintain themselves, 49; how the art of war became a distinct profession, 52; distinction between the militia and regular forces, 54; alteration in the art of war produced by the invention of firearms, 55, 66; importance of discipline, 57; Macedonian army, 58; Carthaginian army, 59; Roman army, 60; feudal armies, 63; a well-regulated standing army the only defence of a civilized country, and the only means for speedily civilizing a barbarous country, 64–65; the want of parsimony during peace, imposes on states the necessity of contracting debts to carry on war, 347, 362; why war is agreeable to those who live secure from the immediate calamities of it, 362–363; advantages of raising the supplies for, within the year, 375–376.

Watch movements, great reduction in the prices of, owing to mechanical improvements, i. 362.

Wealth and money, synonymous terms, in popular language, ii. 125, 153; Spanish and Tartarian estimate of, compared, 125–126.—The great authority conferred by the possession of, iii. 71.

Weavers, the profits of, why necessarily greater than those of spinners, i. 103.

West Indies, discovered by Columbus, ii. 302; how they obtained this name, ibid.; the original native productions of, 303; the thirst of gold the object of all the Spanish enterprises there, 306; and of those of every other European nation, 309; the remoteness of, greatly in favor of the European colonies there, 312; the sugar colonies of France better governed than those of Britain, 340.

Wheat. See Corn.

Window tax in Britain, how rated, iii. 255; tends to reduce house rent, 256.

Windsor Market, chronological table of the prices of corn at, i. 377.

Wine, the cheapness of, would be a cause of sobriety, ii. 211; the carrying trade in, encouraged by English statutes, 223.

Wood, the price of, rises in proportion as a country is cultivated, i. 256; the growth of young trees prevented by cattle, 257; when the planting of trees becomes a profitable employment, ibid.

Wool, the produce of rude countries, commonly carried to a distant market, i. 341; the price of, in England, has fallen considerably since the time of Edward III., 344; causes of this diminution in price, ibid.; the price of, considerably reduced in Scotland, by the union with England, 349.—Severity of the laws against the exportation of, ii. 425; restraints upon the inland commerce of, 427; restraints upon the coasting trade of, 428; pleas on which these restraints are founded, 429; the price of wool depressed by these regulations, 430; the exportation of, ought to be allowed, subject to a duty, 433.

Woollen cloth, the present prices of, compared with those at the close of the fifteenth century, i. 362–363; three mechanical improvements introduced in the manufacture of, 366.

Z

Zuinglians. See Calvinists.

Zurich, establishment of the Reformation there, iii. 198.