Principles of Political Economy Volume 1

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1837 edition. Excerpt: ... CHAPTER V. EFFECTS OF THE EXTENSION OF CULTIVATION UPON THE WAGES OF LABOUR. A body of emigrants landing on the shores of a new country, moderately provided with capital in the form of agricultural implements, find themselves, like the individual described at page 7, abundantly supplied with fertile land, but find also to their cost, that land is not sufficient for them, and that they can with the utmost difficulty obtain the means of supporting life. Such was the condition of the first emigrants to Virginia, and North Carolina--to Canada, *--and such has been the condition of all nations, when a limited population enabled them to limit their cultivation to the most fertile lands, but when a more limited capital prevented them from cultivating those lands advantageously.f Such is the condition of all those whose moderate population places them now in a condition nearly similar, to wit, Poland, Spain, Turkey, &c The history of all early settlements is one of great wretchedness and discomfort. The emigrants to New South Wales, to Swan River, J and to the Cape of Good Hope, have acted over in our time, the scenes of the early settlements of America. They were accustomed to consider land as the great soui*ce of wealth, * 'The starving colonists were now (1628) reduced to five ounces of bread 'per day.'--Martin's Col. Lib. Canada, p. 10. t ' What is the picture presented by the earliest records of those nations ' which are now civilized, or, which is the same, what is now the state of savage ' nations ?--a state of habitual poverty and occasional famine. A scanty popula' tion, but still scantier means of subsistence.'--Senior. t ' For three years, the settlers were in daily fear of starvation.'--Martin's Brit. Col. Library, p. 29. ...