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reference to this effect; or in other words, the law of the increase of production, viewed in respect of its dependence, first on Labour, secondly on Capital, and lastly on Land.

§ 2. The increase of labour is the increase of mankind; of population. On this subject the discussions excited by the Essay of Mr. Malthus have made the truth, though by no means universally admitted, yet so fully known, that a briefer examination of the question than would otherwise have been necessary will probably on the present occasion suffice.

The power of multiplication inherent in all organic life may be regarded as infinite. There is no one species of vegetable or animal, which, if the earth were entirely abandoned to it, and to the things on which it feeds, would not in a small number of years overspread every region of the globe, of which the climate was compatible with its existence. The degree of possible rapidity is different in different orders of beings; but in all it is sufficient, for the earth to be very speedily filled up. There are many species of vegetables of which a single plant will produce in one year the germs of a thousand; if only two come to maturity, in fourteen years the two will have multiplied to sixteen thousand and more. It is but a moderate case of fecundity in animals to be capable of quadrupling their numbers in a single year; if they only do as much in half a century, ten thousand will have swelled within two centuries to upwards of two millions and a half. The capacity of increase is necessarily in a geometrical progression: the numerical ratio alone is different.

To this property of organized beings, the human species forms no exception. Its power of increase is indefinite, and the actual multiplication would be extraordinarily rapid, if the power were exercised to the utmost. }. never is exercised to the utmost, and yet, in the most favourable circumstances known to exist, which are those of a fertile region colonized from an industrious and civilized community, population has continued, for several

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generations, independently of fresh in). migration, to double itself in not much more than twenty years.” That the capacity of multiplication in the human species exceeds even this, is evident if we consider how great is the ordinary number of children to a family, where the climate is good and early marriages usual; and how small a proportion of them die before the age of maturity, in , the present state of hygienic o where the locality is healthy, and the family adequately provided with the means of living. It is a very low estimate of the capacity of increase, if we only assume, that in a good sanitary condition of the people, each generation may be double the number of the generation which preceded it. Twenty or thirty years ago, these propositions might still have required considerable enforcement and illustration; but the evidence of them is so ample and incontestable, that they have made their way against all kinds of opposition, and may now be re. garded as axiomatic: though the extreme reluctance felt to ...; them, every now and then gives birt to some o theory, speedily forgotten, of a different law of increase in different circumstances, through a providential adaptation of the fecundity of the human i. to the exigencies of society: e obstacle to a just * This has been disputed; but the highest estimate I have seen of the term which population requires for doubling itself in the United States, independently of immigrants and of their progeny—that of Mr. Carey— does not exceed thirty years. + One of these theories, that of Mr. Doubleday, may be thought to require a passing notice, because it has of late obtained some followers, and because it derives a semblance of support from the general analogies of organic life. This theory maintains that the fecundity of the human animal, and of all other living beings, is in inverse proportion to the quantity of nutriment: that an underfed population multiplies rapidly, but that all classes in comfortable circumstances are, by a physiological law, so unprolific, as seldom to keep up their numbers without being recruited from a poorer class. There is no doubt that a positive excess of nutriment, in animals as well as in fruit trees, is unfavourable to reproduction ; and it is quite possible, though by no means proved, that the physiological conditions of fecundity may understanding of the subject does not arise from these theories, but from too confused a notion of the causes which, at most times and places, keep the actual increase of mankind so far behind the capacity.

§ 3. Those causes, nevertheless, are in no way mysterious. What prevents the population of hares and rabbits from overstocking the earth? Not want of fecundity, but causes very different: many enemies, and insufficient subsistence; not enough to eat, and liability to being eaten. In the human race, which is not generally subject to the latter inconvenience, the equivalents for it, are war and disease. If the multiplication of mankind proceeded only, like that of the other animals, from a blind instinct, it would be limited in the same manner with theirs; the births would be as numerous as the }." constitution of the species admitted of, and the population would be kept down by

deaths. * But the conduct of human creatures is more or less influenced by foresight of consequences, and by impulses superior to mere animal instincts: and they do not, therefore, propagate like swine, but are capable, though in very unequal degrees, of being withheld by prudence, or by the social affections, .. giving existence to beings born only to misery and premature death. In proportion as mankind rise above the condition of the beasts, population is restrained by the fear of want, rather than by want itself. Even where there is no question of starvation, many are similarly acted ". by the apprehension of losing what have come to be regarded as the decencies of their situation in life. Hitherto no other motives than these two have been found strong enough, in the generality of mankind, to counteract the tendency to increase. It has been the practice of a great majority of the middle and the poorer classes, whenever free from external control, to marry as early, and in most countries o, as many children, as was consistent with maintaining themselves in the condition of life which they were born to, or were accustomed to consider as theirs. Among the middle classes, in many individual instances, there is an additional restraint exercised from the desire of doing more than maintaining their circumstances — of improving them; but such a desire is rarely found, or rarely has that effect, in the labouring classes. If they can bring up a family as they were themselves brought up, even the prudent among them are usually satisfied. Too often they do not think even of that, but rely on fortune, or on the resources to be found in legal or voluntary charity. In a very backward state of society, like that of Europe in the Middle Ages, and many parts of Asia at present, population is kept down by actual starvation. The starvation does not take place in ordinary years, but in seasons of scarcity, which in those states of society are much more frequent and more extreme than Europe is now accustomed to. In these seasons actual want, or the maladies consequent on it, carry off numbers of the population, which in a succession of favourable years again expands, to be again cruelly decimated. In a more improved state, few, even among the poorest of the people, are limited to actual necessaries, and to a bare sufficiency of those : and the increase is kept within bounds, not by excess of deaths, but by limitation of births. The limitation is brought about in various ways. In some countries, it is the result of prudent or conscientious self-restraint. There is a condition to which the labouring people are habituated; they perceive that by having too numerous families, they must sink below that condition, or fail to transmit it to their children; and this they do not choose to submit to. The countries in which, so far as is known, a great degree of voluntary prudence has been longest practised on this subject, are Norway and parts of Switzerland. Concerning both, there happens to be unusually authentic information; many facts were carefully brought together by Mr. Malthus, and much additional evidence has been obtained since his time. In both these countries the increase of population is very slow; and what checks it, is not multitude of deaths, but fewness of births. Both the births and the

exist in the greatest degree when the supply
of food is somewhat stinted. But any one
who might be inclined to draw from this,
even if admitted, conclusions at variance
with the principle of Mr. Malthus, needs
only be invited to look through a volume of
the Peerage, and observe the enormous fami-
lies almost universal in that class; or call
to mind the large families of the English
clergy, and generally of the middle classes of
England. It is, besides, well remarked by
Mr. Carey, that, to be consistent with Mr.
Doubleday's theory, the increase of the popu-
lation of the United States, apart from im-
migration, ought to be one of the slowest on
record.
Mr. Carey has a theory of his own, also
grounded on a physiological truth, that the
total sum of nutriment received by an or-
ganized body directs itself, in largest propor-
tion, to the parts of the system which are
most used; from which he anticipates a
diminution in the fecundity of human beings,
not through more abundant feeding, but
through the greater use of their brains inci-
dent to an advanced civilization. There is
considerable plausibility in this speculation,
and experience may hereafter confirm it.
But the change in the human constitution
which it supposes, if ever realized, will con-
duce to the expected effect rather by ren-
dering physical self-restraint easier, than by
dispensing with its necessity; since the most
rapid known rate of multiplication is quite
compatible with a very sparing employment
of the multiplying power,

* Mr. Carey expatiates on the absurdity of supposing that matter tends to assume the highest form of organization, the human, at a more rapid rate than it assumes the lower forms which compose human food; that human beings multiply faster than turnips and cabbages. But the limit to the increase of mankind, according to the doctrine of Mr. Malthus, does not depend on the power of increase of turnips and cabbages, but on the limited quantity of the land on which they can be grown. So long as the quantity of land is practically unlimited, which it is in the United States, and food, consequently, can be increased at the highest rate which is natural to it, mankind also may, without augmented difficulty in obtaining subsistence, increase at their highest rate. When Mr. Carey can show, not that turnips and cabbages but that the soil itself, or the nutritive elements contained in it, tend naturally to multiply, and that, too, at a rate exceeding the most rapid possible increase of mankind, he will have said something to the purpose. Till then, this part, at least, of his argument may be considered as non-existent.

deaths are remarkably few in propor. tion to the population ; the average duration of life is the longest in Europe; thePro contains fewer children, and a greater proportional number of persons in the vigour of life, than is known to be the case in any other part of the world. The paucity of births tends directly to prolong life, by keeping the people in comfortable circumstances; and the same prudence is doubtless exercised in avoiding causes of disease, as in keeping clear of the principal cause of poverty. It is worthy of remark that the two countries thus honourably distinguished, are countries of small landed

proprietors. There are other cases in which the Fo and forethought, which peraps might not be exercised by the people themselves, are exercised by the state for their benefit; marriage not being permitted until the contracting parties can show that they have the rospect of a comfortable support. nder these laws, of which I shall speak more fully hereafter, the condition of the people is reported to be good, and the illegitimate births not so numerous as might be expected. There are places, again, in which the restraining cause seems to be not so much individual prudence, as some general and perhaps even accidental habit of the country. In the rural districts of England, during the last century, the growth of population was very effectually repressed by the difficulty of obtaining a cottage to live in. It was the custom for unmarried labourers to lodge and board with their employers; it was the custom for married labourers to have a cottage: and the rule of the English poor laws by which a parish was charged with the support of its unemployed poor, rendered landowners averse to promote marriage. About the end of the century, the great demand for men in war and manufactures, made it be thought a patriotic thing to encourage population: and about the same time the owing inclination of farmers to live É. rich people, favoured as it was by a long period of high Po, made

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them desirous of keeping inferiors at a greater distance, and pecuniary motives arising from abuses of the poor laws , being, superadded, they gradually drove their labourers into cottages, which the landlords now no longer refused permission to build. In some countries an old standing custom that a girl should not marry until she had spun and woven for herself an ample trousseau, (destined for the supply of her whole subsequent life), is said to have acted as a substantial check to population. In England, at resent, the influence of prudence in É. down multiplication is seen by the diminished number of marriages in the manufacturing districts in years when trade is bad. But whatever be the causes by which the population is anywhere limited to a comparatively slow rate of increase, an acceleration of the rate very speedily follows any diminution of the motives to restraint. It is but rarely that improvements in the condition of the labouring classes do anything more than give a temporary margin, speedily filled up by an increase of their numbers. The use the commonly choose to make of any advantageous change in their circumstances, is to take it out in the form which, by augmenting the population, deprives the succeeding generation of the benefit. Unless, either by their general improvement in intellectual and moral culture, or at least by raising their habitual standard of comfortable living, they can be taught to make a better use of favourable cir

cumstances, nothing permanent can be done for them; the most promising schemes end only in having a more numerous, but not a happier people. By their habitual standard, I mean that (when any such there is) down to which they will multiply, but not lower. Every advance they make in education, civilization, and social improvement, tends to raise this standard; and there is no doubt that it is gradually, though slowly, rising in the more advanced countries of Western Europe. Subsistence and employment in England have never increased more rapidly than in the last forty years, but every census since 1821 showed a smaller proportional increase of population than that of the period preceding; and the produce of French agriculture and industry is increasing in a progressive ratio, while the population exhibits, in every quinquennial census, a smaller proportion of births to the population.

The subject, however, of population, in its connexion with the condition of the labouring classes, will be considered in , another place: in the present, we have to do with it solely as one of the elements of Production: and in that character we could not dispense with pointing out the unlimited extent of its natural powers of increase, and the causes owing to which so small a portion of that unlimited power is for the most part actually exercised. After this brief indication, we shall proceed to the other elements.

CHAPTER XI.

of THE LAW OF THE INCREASE OF CAPITAL.

§ 1. The requisites of production being labour, capital, and land, it has been seen from the preceding chapter that the impediments to the increase of production do not arise from the rst of these elements. On the side

of labour there is no obstacle to an increase of production, indefinite in extent and of unslackening rapidity, Population has the power of increasing in an uniform and rapid geometrical ratio. If the only essential oondition of production were labour, the produce might, and naturally would, increase in the same ratio; and there would be no limit, until the numbers of mankind were brought to a stand from actual want of space. But production has other requisites, and of these, the one which we shall next consider is Capital. There cannot be more people in any country, or in the world, than can be supported from the produce of past labour until that of present labour comes in. There will be no greater number of productive labourers in any country, or in the world, than can be supported from that portion of the produce of past labour, which is spared from the enjoyments of its possessor for purposes of reproduction, and is termed Capital. We have next, therefore, to inquire into the conditions of the increase of capital; the causes by which the rapidity of its increase is determined, and the necessary limitations of that increase. Since all capital is the product of saving, that is, of abstinence from F." consumption for the sake of a uture good, the increase of capital must depend upon two things—the amount of the fund from which saving can be made, and the strength of the dispositions which prompt to it. e fund from which saving can be made, is the surplus of the produce of labour, after supplying the necessaries of life to all concerned in the production: (including those employed, in replacing the materials, and keeping the fixed capital in repair.) More than this surplus cannot be saved under any circumstances. As much as this, though it never is saved, always might be. This surplus is the fund from which the enjoyments, as distinguished from the necessaries of the producers, are provided; it is the fund from which all are subsisted, who are not themselves engaged in production; and from which all additions are made to capital. It is the real net produce of the country. The phrase, net produce, is often taken in a more limited sense, to denote only the profits of the capitalist and the rent of the

landlord, under the idea that nothing can be included in the net produce of capital, but what is returned to the owner of the capital after replacing his expenses. But this is too narrow an acceptation of the term. The capital of the employer forms the revenue of the labourers, and if this exceeds the necessaries of life, it gives them a surplus which they may either expend in enjoyments or save. For every purpose for which there can be occasion to speak of the net produce of industry, this surplus ought to be included in it. When this is included, and not otherwise, the net produce of the country is the measure of its effective power; of what it can spare for any purposes of public utility, or private indulgence; the portion of its produce of which it can dispose at pleasure; which can be drawn upon to attain any ends, or gratify any wishes, either of the government or of individuals; which it can either spend for its satisfaction, or save for future advantage. The amount of this fund, this net produce, this excess of production above the physical necessaries of the producers, is one of the elements that determine the amount of saving. The greater the produce of labour after supporting the labourers, the more there is which can be saved. The same thing also partly contributes to determine how much will be saved. A part of the motive to saving consists in the prospect of deriving an income from savings; in the fact that capital, employed in production, is capable of not only reproducing itself but yielding an increase. The greater the profit that can be made from capital, the stronger is the motive to its accumulation. That indeed which forms the inducement to save, is not the whole of the fund which supplies the means of saving, not the .. net produce of the land, capital, and labour of the country, but only a part of it, the part which forms the remuneration of the capitalist, and is called profit of stock. It will however be readily enough understood, even previously to the explanations which will be given here.

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