A.

Absentee expenditure, 465, 466,
487

Abstinence, relation of to wealth,

74, 210, 217, 307
Abundance and scarcity, Bastiat's
sophism on, 508; protection to
home industry makes

more

abundance than free trade, unless
the article is one of which we
can permanently import our
whole supply, 510; effect of
abundance of cotton on values,
687

Account, money of, 335, 348, 349
Accumulation, its social utility,

220, 222, 304-307; involves as-
sorting men according to their
productive capacity, 309; large
fortunes the measure of a high
social demand for some special
change of business energy from
outworn channels, 397
Acreage, statistics of acreage
planted, when first kept in Eng-
land, 119; of large proprietors
in America and Europe, 269,
270; in England, 272-275; of
forests, 148; of great land grants,
157-159; of bonanza farms, 269;
of cultivation in Ireland, 274;
of cultivation in India, 486; of
land in India, 488; of cultivated
lands in England and Wales,
545, 546; in China, 547; decline
of acreage to wheat, etc., on re-
peal of protective duties, 559
Adage, ridiculing facts, 24
Adulteration of highly- taxed
wines, 475

Ad valorem duties, tariff of 1828,

383; defined, 481; few in Ger-
man tariff, 517

Advice from John Bright on the
American tariff, 608

Adzes, American, superseding Eng-
lish in 1868, 596

Africa, population of, descent in
America, 33; markets in, 99;
manufacture of iron in Central,

644

Age, relation of to crime, 443; pre-
historic ages, iron and steel in,
645

Agrarian laws, 138

Agriculture, wages in go far to-
ward fixing wages in manufac-
tures, 181; rate of profit in, 177,
178, 192; product of, in various
countries, 230; how affected by
situation and fertility, 238-255;
number engaged in, in United
States, 320; may employ too
many, 382; functions of the state
concerning, 433, 434; decline of
modes of tillage in Ireland
through loss of home market,
491; potato rot in Ireland caused
by decline, 491; agricultural
class large in France, 496; gov-
ernment aid to growth of beet
sugar, 504; improvement of, in
Prussia, 520; women, number of
working at, in Germany, 525; in
Würtemberg, 525; communal
system of, in Russia, 526; reno-
vation of, in China, how to be
effected, 551-555; decline of
acreage planted to wheat in
Great Britain on withdrawal of
protective duties, 559; the small
proportion of agricultural pro-
ducts which will bear export

makes home trade essential to
abundant agricultural produc-
tion, 602

Agricultural colleges, bountied in
United States, 145
Agricultural implements, duty on,
and export of, 610
Alcoholic beverages, taxes on, 475;
English protection to manufac-
ture of, 482; against Irish, under
act of Union, 493; in France
(wines), 497; revenue from, in
France,498; retaliatory duties on,
by England, 500; in Russia, 527;
duties on, removed in Japan, 553;
English acts to protect manufac-
ture of, 555; value of, consumed
in United States, 25; wages in
manufacture of, as high in Eng-
land as in United States, because
as well protected-as high, 582;
as well protected, 482; in United
States beer, ale, and porter pro-
tected and exported, 610
Ale, duties on imported, export of,
610; revenue from, 613
Algeria, 499

Aliens, exempt from all taxation
in Turkey, 488, 489
Alloy in American dollar, 337; in
English coins, 339–342
Alpaca, wool and fabric, 672
Altruism and altruistic labors, only
useful in the very few, 323; al-
truistic effects obtained by ego-
istic means, 433; alleged lack of,
except in the family, among
Chinese, 552

Ambition, its function in states-
manship and industry, 400,623–
626
America, Central, United States

buys from more than we sell to,
600

American school of Political Econ-
omy, 16, 36; influence of Ameri-
can war on political economy,
17; Saratoga convention of, 17;
influence of American teachings
in forming the Zollverein, 514
American banks, crisis of, in 1857,
377

American colonies protected wool
and wool manufacture variously,
676

American manufactures, in war of
1812-1815, 641, 642; colonial, de-
clared a nuisance by parliament
and punished, 647, 648: wool
and woolen manufacture pro-
tected in the colonies, 676
American opinion needed, 382
American markets for Canadian
lumber fix its price, 532
American people, drink bill of, 25;
meat, bread and groceries, bill
of, 25; safety of travel, 28; area
of America, 141; official govern-
ing class in, 423; methods of
in politics disappoint in some
things, 424-425; insignificance
of the accidents that prevail, 425;
not alive to moral issues if the
wrong doing is pervasive, 426;
cost, war of, 1861-5, 438; crime
among, 442; duties of, in pro-
tecting American labor against
excessive immigration by pre-
venting the disruption of Chi-
nese home industries, 548; de-
mand for silks, 633; lost their
mercantile marine in 1855 by
previous blunder in trying to
get cheap iron and steel through
low duties, 648-650

American ocean steamer lines lost,
how? 657-660

American trade, how carried, 656,
659

American Union, closely identified
with the protective policy, 649,
628, 629
American vessels, reasons why
must be American-built, 661, 662
American workers, an immigrant
differs from an imported product
in economic effect, 321; Ameri-
can workers inventive because
well paid, and vice versa, 596, 597
Amusements, state in respect to,
431

Anarchy-anarchists of Chicago,
91; relation of, to the state, 131;
the organization of labor in in-
dustry is governed by the value
sense on both sides and is largely
beyond the pale of law, 309; in
that sense anarchic, 310; anarchy
not organization, 310
Angel and angelet, 340-360
Angora, wool, 672

Animals, rudiments of government
seen among, 378; absence of
working animals in China and
economic effects of, 540-545
Anna-India, 338

Annapolis, first colonial congress at,
protected wool and wool manu-
facture, 676

Appropriation, all title and pro-
duction begins in, 125, 130
Aqueducts for cities, 430
Arbitration, 303; derives its effi-
cacy from previous belligerency,
435; in effecting emancipation in
Russia, 526

Area of United States compared

with Europe, 141; of countries,
230; of German Zollverein, 515
Argentine Republic, unit of coin-
age of, 338; American purchases
from, paid by England's sales to,
600; England's trade in cotton
goods with, 689
Aristocracy, and land-holding, 270;
defined, 405; relation of, to num-
bers, 405; quasi aristocratic views
of Calhoun, Webster and Hamil-
ton, 413; aristocracy of manipu-
lators of conventions, 425; and
protective policy in England, 557
Arms, 382

Army, health of British and
French, 31; employed to extend
foreign trade, 67; part of na-
tion's wealth which is not pri-
vate wealth, 66, 68; American
policy of having no army, 68,
437; destruction of values by
allied armies in France, 70;
destruction vs. consumption of
values by, in United States, 70;
founds all governments, 435; in-
cluding that of United States,
438; an army is a factory and
what it makes, 439; cost of, in

709

England, 479; in India, how paid
and oflicered, 485, 486; of China
is also the police, 537; organiza-
tion and mode of drilling and
fighting depend on condition of
iron and steel manufacture, 646;
officers of, in England, 406;
Roman army furnished accord-
ing to capital, 412; when army
is chief power in the state the
form of government indicates it,
413; army part of the executive,
416, 427; cost and economy of,
437, 440; sustained in France
and United States by conscrip-
tion, 437; expenditure, 438;
native and English officers of,
in India. 486

Art, is political economy an, 1–9;
Adam Smith and Stewart so
hold, 7; export of works of, 610;
import and revenue from, 613;
position of glass-making in use-
ful arts, 638, 644

Artisans of a whole country can

not learn new trades, 66, 67;
wages of American higher than
English, and their work better,
596; Birmingham Board of Trade
and London Times on, 596; Span-
ish and Dutch, how attracted to
France, 673, 674

Artel, in Russia, 526-530
Ash, pot and pearl, export of, and
duties on import, 610

Asia, tribute paid by, 454; brown
race prehistoric, 645
Associations, wool growers and
wool manufacturers, combine to
form American tariff on wool
and woolens, .677
Assumption, substitution of for ar-
gument, 25, 26; simpler than in-
vestigation, 571

Athens, its government the pro-
duct of economic life, 402; aris-
tocratic, 405; dependence for
food, 570
Attraction in the state, 433, 664;

may be greatest toward a coun-
try of high taxation, 473
Augers, English and American,
prices, 590; qualities, 596
Australia, registration of titles in,
143; life of herdsmen and shep-

herds in, 317; effect of Aus-
tralian and California gold on
coinage, 385, 386; governments
of, 407; colonization of criminals
in, 445; tariffs in, 530, 531; ex-
port of wool from, since 1810,
676; crime in, 33, 442; prices of
Australian wool abroad and of
Ohio wool in Boston (chart), 679-
681; England's trade in cotton
goods with, 689

Australia, West, fixed terms of of-
fice, 407

Austria, coinage unit, 338; alleged
bankruptcy of, 448; war with
Germany in 1866, 516, 522
Austro-Hungary, government of,
407; expenditure on army in,
438; protection tariff essentially
like those of France, Germany,
etc., 530; product of iron, steel,
and coal, 650; the basis of
unity, 630; wool supply, 673
Autocracy, in form of government
not inconsistent with democratic
methods, 526; or socialistic, 528-
529

Avarice, its function, sphere and
cost, 201-210, 433; relation of
to wages, 625

Axes, English and American,
prices, 590; qualities, 596

B.

Babylon, woolens, 669

Bacon, revenue on paid by foreign
producers, 586; exports and
imports, 610,613; revenue from,
613

Baconian school, 24; doctrine of

protection, 670, 671
Baden, 515, 523

Balance of Trade, Gregory King's
essay on, 95; example of, 383;
turned in favor of United States
by protection in 1824-1834, 384;
Doctrine of, stated, 393; Bacon
on, 392-394; examples of in Uni-
ted States from 1862-1883, 393-
395, 599-602; doctrine true when
statistical omissions are cor-
rected, 395; discussed by Adam
Smith, 500; where no imports
are needed, effect of, 599

Balance of industries, A. Jackson
on, 382

Bank of England, organization
and practice of, 389; profits,
390
Bankers, protected when home
trade is secured against foreign,

609
Banks, Secretary Chase and banks
of New York, 221; distrust of,
by the poor causes hoarding,
224; antiquity of, in China, 334 ;
deposits and checks, 349; notes
of, 350; national, 351; secured,
351; state and private, 352:
part of banks in crises, 371–373;
limitations on Bank of England,
374; stopped in 1857, 377; prac-
tice of Bank of England in a
panic, 378, 389; banks may be
led into inflation by excess of
goods, 384; may by discounts
produce inflation, 389; may
profit by crisis, 389; policy of
standing by each other, 389;
debts of, in United States, 448;
part of banks in aiding govern-
ment in Russia in its issues of
paper money, 528, 529; relation
of woolen industries to, 669
Banks for savings, deposits in,
in United States, 190
Bankruptcy, effects of by gov-
ernment, 221; in United States
in 1854-7 produces crisis in
England, 376-378; alleged, of
Russia, 529; individual, avoided
by national liquidation of debt
at current values, 529

Bark, tanning, protection on and
export of, 610

Barter, doctrine of, applied to
domestic wages, 321-323; inter-
national trade is not, 601; if it
were it would be oppressive in
refusing most of our products,
602

Bavaria, 515, 522, 523

Beef, duties on, 382; paid by
foreign producers as to United
States, 586, 610, 613

Beer, protection and export of,
610
Belgium, trade with France, 26 :

wool, 26; silks, coals, wool, hops,

glass. 2; travel in, 28; unit of
coinage. 338; government of,
407; proportion of improved
land and tillage, 540 rates of
wages in, 581, 511; our balance
of trade against, 599-602; pro-
duct of iron, steel and coal in
1883, 650

Bells and bronze, duty on and ex-
port of, 610

Beneficence, of the adjustment of
each part of society to every
other through interest, 400, 401;
of the economic law that prices
rise when production is small,690
Bengal, petition of cotton and silk
manufacturers of, for protection
against English competition, 487
Berlin, 405, 514; Berlin and Milan
decrees, 640

Billiard tables, export of, 610
Bimetallism, 361-369

Birmingham, American cheapness
in iron and steel wares affects it,
596

Blacksmith's tools, 383; wages in
various countries, 511
Blacking, export of, 610
Blankets, protected, 383; wool for,
672; consumers of, 589; not
taxed, 590; shoddy in, 590; prices
of, in England and America, 590
Bolivar, monetary unit of Vene-
zuela, 338

Bolivia, monetary unit of, 338
Boliviano, 336

Boards, local diversity of in Eng-

land 478; Boards of trade on
destruction of silk industry in
England, 636, 637; on Canadian
manufactures, 665
Bonanza farming, 262-272
Bonds, national, bearing interest,
relation of to notes, 392
Bonnets, protected, 383; exports,

610; imports and revenue, 613
Books, duties, 383; imports and
exports, duties on, revenue from,
610, 613

Boots and shoes, recent strikes in,
328; heavily protected from
1816-1828, 383; wages in Mas-
sachusetts and England, 583;
production and prices in Amer-
ica and Great Britain, 697, 698

711

Borough boards and rates, 477-479
Boston, glass, 644
Bounties, in land, 144; on export of
beet sugar essentially a fiction,
506; the substitution of bounties
for duties is generally a free
trade notion, 597; objections
to, 596; on silk culture, 632; on
ships by British government,
659; on sheep culture-killing
wolves, 676; on salt production
in Michigan, 695

Bourgeoisie in France, 403
Brandy, English, 482; German, 520
Brass, 383; in coinage, 339; success
of American, 596; imports of
and revenue from, 613; exports
of, and duty on imports, 610
Brazil, coinage of, 338; British
control of trade of, 516, 670;
tariff, 530; protection of metals
in chart, 366; balance of Am-
erican trade with, 600; benefited
by removal of American duties
on coffee, 600; England's trade
with, 689

Breach of trust, as a mode of con-
quest, 484

Breeding of sheep to any pattern,

671; in France, 674

Bread and breadstuffs, cost of, 25;
relation of, to laboring class, 26;
dealing in breadstuffs and pro-
visions on boards of trade or
produce exchanges, 105-120;
effect of rise in price during
scarcity to cause economy in use
of, 106-120; capacity of a few
to produce, 220; black bread in
India, 227; home market for,
382; export of breadstuffs from
France prohibited by Colbert in
interest of manufacturer, 60;
German trade, in, 519; effect of
duties on trade between Canada
and United States, 533; bread
not reduced in price by repeal of
corn laws, 558; revenue on im-
ports, of into United States paid
by foreign producers, 586; ex-
ports of, 610; imports and rev-
nue from, 613; consumer pays
no revenue on, 615
Breech-loaders, American manu-
facture for export, 596