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NATURAL CIRCUMSTANCES WHICH INFLUENCE

THE PRODUCTIVE POWER OF LABOUR.

CHAPTER 1.

MENTAL AND BODILY LABOUR PRODUCTIVE LABOUR.

Two species of labour; the labour of observing the laws of the

material world, and of carrying the means suggested by observation into . execution. Illustrations of both. Both equally useful. All labour productive which procures the labourer his subsistence. Opposite opinion and practice. Page 45-52

CHAPTER II.

INFLUENCE OF OBSERVATION AND KNOWLEDGE.

Influence of knowledge not noticed by economists till very lately.

-Mr. Say's opinion. Knowledge necessary to preserve exist. ence. Its influence in agriculture. Example of fallows, and green crops. Potatoes. Their effects on population, particularly in Ireland. Source of agricultural improvement. Wheat and other grain not found growing wild. Subsistence augmented by the discoveries of Beukels, as to curing herrings. Increase of productive power by improvement in navigation, exemplified by the price of tea. Effects of our increased knowJedge of magnetism. Economical advantages of the safety lamp. Steam-engines. The cotton manufacture. Gas-lights. All improvements depend on observation. Page 53-75

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Political economists have not inquired into the natural laws re

gulating the progress of knowledge. It does not depend exclusively on division of labour which is preceded by inventions and discoveries. This fact illustrated by Hindostan and other countries. Progress of knowledge depends on general natural laws. Uniformity of the progress of civilization. Influence of necessity as caused by an increasing population. Illustration from agriculture. Individual genius the result of the general progress. Illustration of Mr. Watt. Manual dexterity must be united with observation. Natural and necessary increase of knowledge from an increase of people. Influence of governments in adding to knowledge.

Page 76_99

CHAPTER IV.

INFLUENCE OF THE DIVISION OF LABOUR.

Extended division of labour one characteristic of civilized man.

Connexion with productive power in England, Russia, and the United States. Explanation of its advantages. Comparison of making nails by the hand, and by machinery. Further division of labour among established trades. All the advantages of division of labour naturally belong to labourers. It takes place under every kind of political institution, and must therefore originate in some natural principle.

Page 100_110

CHAPTER V.

CAUSES WHICH GIVE RISE TO, AND LIMIT,

DIVISION OF LABOUR.

Division of labour between the sexes. Diversity of age, talents,

and disposition. Division of labour arises from difference of

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organization. Subdivision of labour from this cause as society advances. Does not arise from barter. Necessity of barter. Limits to division of labour. Extent of the market synonymous with number of labourers. Division of labour extended by the multiplication of mankind. Dr. Smith held a similar opinion. Principle illustrated by England, Russia, and America. By improved modes of communication. Present condition of the labourer no proof that his productive power does not increase with an increase of people. Ireland an apparent exception. The causes of its poverty all centre in misgovernment. Doctrine here stated not a contradiction of Mr. Malthus's principles.

Page 111-126

CHAPTER VI.

TERRITORIAL DIVISION OF LABOUR.-LIMIT TO DIVISION

OF LABOUR FROM THE NATURE OF EMPLOYMENTS.

ments.

Limit to division of labour from the nature of different employ

Is continually extended by inventions and discoveries. Limit to division of labour in agriculture depends on territorial division of labour. Territorial division of labour explained and illustrated. Originates in natural circumstances. Exchange necessary to its completeness. Has no connexion with the political divisions of the earth. Effects on agriculture of restrictions on territorial division of labour. Division of labour not the cause of the labourer's poverty and degradation. Iufluence of social regulations on division of labour.

Page 127-139 CHAPTER VII.

TRADE.

Trade, a branch of business like agriculture and manufactures.

Does not form a part of this science. Reason for explaining

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the utility of wholesale and retail dealers. Home trade results from individual, foreign trade from territorial division of labour. Natural circumstances which give rise to retail trade. Differences in the nature of commodities, and in the times of their production. Advantages of the present mode of paying retail dealers. Natural circumstances which give rise to wholesale trade. Territorial division of labour is necessary, or only advantageous. Examples. The benefits of trade illustrated. It adds to employment and promotes civilization. It is a part of the uatural system of production, and grows up independent of governments. Its advantages not limited nor regulated by political distinctions. Example of the provinces of France and the American States formerly under the government of this country. Merchants necessary to our obtaining these advantages. The principle of buying and selling with a view to gain tends to prevent fluctuations in the condition of society, Merchants a distinct class from speculators and gamblers.

Page 140—177

CHAPTER VIII.

MONEY.

Definition of money. Natural circumstances which occasion the

invention of money. Different substances which have been used as money. The precious metals now universally adopted. Reasons for the preference given to them. They are natural or universal money. Difference between money and wealth. Circumstances which determine the value of the precious metals, and the quantity of money in circulation. Governments cannot alter the value of money, nor the quantity necessary. Origin of coining. It does not alter the natural relation of value in the precious metals. Frauds practised by Governments by means of the coin. Money is regulated in minute

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