THE PRINCIPELS OF POLITICAL ECONOMY APPLIED TO THE CONDITION, THE RESOURCES, AND THE INSTITUTIONS OF THE AMERICAN PEOPLE

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Rule of discounting only short paper
347
Reflux of banknotes explained
350
Banks compete with each other for their share of the circulation
357
Expedients for the security of the circulation
363
The Treasury fund might support a good circulatio
369
THE DECLINE IN THE WALUE OF MONEY gº
392
Great fluctuations of this supply
398
The present decline but little retarded by a greater demand for money
404
Specie reserves absorbed by the rise of prices
410
Change in the relative values of gold and silver will not indicate
416
Silver is not now a standard of value
422
Commerce anticipates changes of price
428
Speculators cannot control the price of grain
434
Purchases can be made to any extent without money
440
American examples tº
446
Other causes affect the amount of disposable capital
452
More imports obtained by lessening the price of exports
467
Free trade applicable under certain circumstances º º
473
Private and public interest not always identical º tº º
479
Consequent admission respecting a protective system
485
Summary of the arguments for protection
491
Landed property at first a usurpation
497
De Tocqueville and Webster on laws of inheritance
503
Division of estates in France has reached its limit
509
Perpetuities forbidden in law established in fact
515
Amount of sales under this commission º g tº
521
Results of the two systems taken side by side
527
Absenteeism and middlemen in Ireland
533
Natural limit to excessive accumulation
539
Liberal use of wealth in the United States
545

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Сторінка 136 - In two centuries the population would be to the means of subsistence as 256 to 9; in three centuries as 4096 to 13, and in two thousand years the difference would be almost incalculable.
Сторінка 126 - The laws and conditions of the production of wealth, partake of the character of physical truths. There is nothing optional, or arbitrary in them. Whatever mankind produce, must be produced in the modes, and under the conditions, imposed by the constitution of external things, and by the inherent properties of their own bodily and mental structure.
Сторінка 59 - In the first fire-engines, a boy was constantly employed to open and shut alternately the communication between the boiler and the cylinder, according as the piston either ascended or descended. One of those boys, who loved to play with his companions, observed that, by tying a string from the handle of the valve which opened this communication, to another part of the machine, the valve would open and shut without his assistance, and leave him at liberty to divert himself with his playfellows.
Сторінка 34 - With many a weary step, and many a groan, Up the high hill he heaves a huge round stone; The huge round stone, resulting with a bound, Thunders impetuous down, and smokes along the ground.
Сторінка 91 - Thirdly, and lastly, commerce and manufactures gradually introduced order and good government, and with them the liberty and security of individuals, among the inhabitants of the country, who had before lived almost in a continual state of war with their neighbours, and of servile dependency upon their superiors.
Сторінка 229 - The property which every man has in his own labor, as it is the original foundation of all other property, so it is the most sacred and inviolable.
Сторінка 237 - In every society the price of every commodity finally resolves itself into some one or other, or all of those three parts; and in every improved society, all the three enter more or less, as component parts, into the price of the far greater part of commodities.
Сторінка 223 - The counsellor at law who, perhaps, at near forty years of age, begins to make something by his profession, ought to receive the retribution, not only of his own so tedious and expensive education, but of that of more than twenty others who are never likely to make any thing by it. How extravagant soever the fees of counsellors at law may sometimes appear, their real retribution is never equal to this.
Сторінка 28 - Capital is kept in existence from age to age not by preservation, but by perpetual reproduction: every part of it is used and destroyed, generally very soon after it is produced, but those who consume it are employed meanwhile in producing more.
Сторінка 251 - In a country fully stocked in proportion to all the business it had to transact, as great a quantity of stock would be employed in every particular branch as the nature and extent of the trade would admit. The competition, therefore, would everywhere be as great, and consequently the ordinary profit as low as possible.

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