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第19节

political economy-第19节

小说: political economy 字数: 每页4000字

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ose who engaged in them。 The most absolute liberty was not sufficient to direct attention to these objects。 The zeal and activity of the princess Eliza; who called into her little sovereignty several head…manufacturers; who furnished them with money and houses; who brought the produce of their shops into fashion; has founded a more durable prosperity in a decaying city; and restored to a beneficent activity much capital and intellect; which; but for her; would forever have remained unemployed。     When government means to protect commerce; it often acts with precipitation; in complete ignorance of its true interests; almost always with despotic violence; which tramples under foot the greater part of private arrangements; and almost always with an absolute forgetfulness of the advantage of consumers; who; as they form by far the most numerous class; have more right than any other to confound their well…being with that of the nation。 Yet it must not be inferred; that government never does good to trade。 It is government which can give habits of dissipation or economy; which can attach honour or discredit to industry and activity; which can turn the attention of scientific men to apply their discoveries to the arts: government is the richest of all consumers; it encourages manufactures by the mere circumstance of giving them its custom。 If to this indirect influence it join the care of rendering all communications easy; of preparing roads; canals; bridges; of protecting property; of securing a fair administration of justice; if it do not overload its subjects with taxation in levying the taxes; it adopt no disastrous system; … it will effectually have served commerce; and its beneficial influence will counterbalance many false measures; many prohibitory laws; in spite of which; and not by reason of which; commerce will continue to increase under it。

Chapter 5

Of Money

    Wealth incessantly circulates from producers to consumers; by means of money。 All kinds of exchange are accomplished under this form; whether the means of producing wealth are transmitted from one proprietor to another; or when land or movable capital changes its owner; or when labour is sold; or when the object destined to be consumed reaches the hands that are to use it。 Money facilitates all these exchanges; it occurs among the different contractors as a thing which all desire; and by means of which every one may find what he immediately requires; as a thing; moreover; submitted to invariable calculation; and by means of which all other values may be appreciated; this alone being their scale。     Money performs several functions at once: it is the sign of all other values; it is their pledge and also their measure。 As a sign; money represents every other kind of wealth; by transmitting it from hand to hand we transmit a right to all other values。 It is not money itself which the day…labourer requires; but food; clothing; lodging; of which it is the sign。 It is not for money that the manufacturer wishes to exchange his produce; but for raw materials; that he may again begin to work; and for objects of consumption; that he may begin to enjoy。 It is not money which the capitalist lends the merchant to profit by; it is all that the merchant will purchase with this money immediately afterwards; for so long as the merchant keeps it in the original shape; he can draw no advantage from it; and his capital will not begin its course of production till the money is out of his hands。 By an abuse of language; which has caused much error and confusion; the words money and capital have become almost synonymous: money indeed represents all other capital; but it is itself the capital of no man; it is always barren by nature; and wealth does not begin to increase; till after money has left the hands of its possessor。     Money is not only the sign of wealth; it is also the pledge of it。 It not only represents wealth; it contains the worth of it。 Like wealth; it has been produced by a labour which it wholly compensates。 In work and advances of all sorts employed in extracting it from the mine; it has cost a value equal to what it passes for in the world。 It furnishes to trade a commodity which is expensive; because purchased like every other; it is the sole kind of wealth which is not increased by circulation; or dissipated by enjoyment。 It issues; still without alteration from the hands of him who employs it usefully; and of him who squanders it upon his pleasures。 But the high price at which society acquires money; though at first view it appears an inconvenience; is precisely what gives it the merit of being an imperishable pledge for its possessors。 As its value was not given by arbitrary convention; arbitrary convention cannot take its value away。 It may be more or less sought after according as it occurs more or less abundantly in the market; but its price can never deviate very far from what would be required to extract an equal quantity from the mine。     Money; in the last place; is a common measure of values。 Before the invention of money; it must have been very difficult to compare the value of a bag of corn with that of a yard of cloth。 Dress was equally necessary with food; but the processes by which men procured them; seemed scarcely susceptible of being compared。 Money has furnished a common and invariable unity to which every thing can be referred。 Nations; who are not acquainted with the use of metals; have; nevertheless; so felt the advantages of this common measure that they have formed an ideal unity; to which they refer every kind of value。     The important part which money performs in political economy; and the various properties by which it animates exchanges; and protects and serves to measure them; explain the illusion which has misled; not only the vulgar; but even the greater part of statesmen; and exhibited this commodity in their eyes as the efficient cause of labour; and the creator of all wealth。 It is essential for us; however; to pause here; that we may both display those errors in a clear point of view; and firmly demonstrate the principles which follow。 In the epoch of civilization; at which we are arrived; no labour can be accomplished without a capital to set it in motion; but this capital; though almost constantly represented by money; is yet quite a different thing。 An increase of the national capital is the most powerful encouragement to labour; but an increase in the circulating medium has not of necessity the same effect。 Capitals co…operate powerfully in the annual reproduction of wealth; giving rise to an annual revenue; but money continues barren; and gives rise to no revenue。 Indeed; the competition between those capitals; which are offered to accomplish the annual labour of the nation; forms the basis for the interest of money; but the greater or less abundance of the circulating medium; has no influence in the fixing of this interest。     Painful experience has shown all the inhabitants of Europe what a dearth was; and a period of general penury among a civilized people。 At these mournful epochs; every one has heard it a hundred times observed; that it was not corn or food which was wanting; but money。 Indeed; vast magazines of corn have often remained full till the next harvest; those provisions; if proportionably shared among the people; would have almost always been sufficient for their support; but the poor; having no money to offer; were not able to buy them; they could not; in exchange for their labour; obtain money; or at least enough of it; to subsist。 Money was wanting; natural wealth superabundant。 What phenomenon could appear more proper to confirm the universal prejudice which looks for wealth in money; not in consumable capital?     But the money; which is wanting in a time of scarcity; is the wage offered to the workman to make him labour。 the wage; by means of which; he would have purchased a subsistence。 The workmen never labour; except when some of those who have accumulated capitals; or in other words; the fruit of preceding labours; can profit from those capitals; by furnishing; on one hand; the raw material; on the other; a subsistence for the artisan。 Labour cannot be carried on so as to produce any material fruit; any fruit capable of becoming wealth; without raw materials on which to operate; the workman cannot labour without food to support him; and; therefore; every kind of labour is impossible without a capital previously existing in objects of consumption; to furnish his materials and his wages; and; if the workman himself lay out these advances; it is because he combines for this little object; the two characters of capitalist and artisan。     As the workman requires a capitalist; so the capitalist requires workmen; because his capital will be unproductive if it continue idle; and the revenue which he expects and has to live upon springs from the labour which he causes to be executed。 Hence; whenever he is occupied in a productive enterprise; he employs all his capital in causing labour; and leaves no part of it in idleness。 If he is a cloth…maker; and has devoted ten thousand pounds to his manufacture; he does not stop till his ten thousand pounds are done; and he no longer has new sums to employ in the 

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