Sophisms of Free Trade and Popular Political Economy Examined

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Сторінка 19 - The capital which sends Scotch manufactures to London, and brings back English corn and manufactures to Edinburgh, necessarily replaces by етегу such operation, two British capitals which had both been employed in the agriculture or manufactures of Great Britain. The capital employed in purchasing foreign goods for home consumption, when this purchase is made with the produce of domestic industry, replaces too, by every such operation, two distinct capitals; but one of them only is employed...
Сторінка 274 - Inspicere tanquam in speculum in vitas omnium Jubeo, atque ex aliis sumere exemplum sibi.
Сторінка 18 - The capital which is employed in purchasing in one part of the country in order to sell in another the produce of the industry of that country, generally replaces by every such operation two distinct capitals that had both been employed in the agriculture or manufactures of that country, and thereby enables them to continue that employment.
Сторінка 191 - Ireland is the only kingdom I ever heard or read of, either in ancient or modern story, which was denied the liberty of exporting their native commodities and manufactures wherever they pleased, except to countries at war with their own prince or state : yet this privilege, by the superiority of mere power, is refused us in the most momentous parts of commerce...
Сторінка 31 - Scotland immediately cease trading with each other, and will not the hometrade of consumption be changed for a foreign trade of consumption ? But, although two additional capitals will enter into this trade — the capital of Germany and that of France — will not the same amount of Scotch and English capital continue to be employed, and will it not give motion to the same amount of industry as when it was engaged in the home-trade ? ' " — Principles of Political Economy, chap.
Сторінка ix - Let the astrologer be dismayed at the portentous blaze of comets, and impressions in the air, as foretelling troubles and changes to states : I shall believe there cannot be a more ill-boding sign to a nation (God turn the omen from us !) than when the inhabitants, to avoid insufferable grievances at home, are enforced by heaps to forsake their native country.
Сторінка 9 - is not like a plane mirror, which reflects the images of things exactly as they are ; it is like a mirror of an uneven surface, which combines its own figure with the figures of the objects it represents.
Сторінка 19 - The capital employed in purchasing foreign goods for home consumption, when this purchase is made with the produce of domestic industry, replaces, too, by every such operation, two distinct capitals, but one of them only is employed in supporting domestic industry. The capital which sends British goods to Portugal, and brings back Portuguese goods to Great Britain, replaces by every such operation only one British capital. The other is a Portuguese one. Though the returns, therefore, of the foreign...
Сторінка 71 - And this stringent protection has not only created manufactures, but created them where they would not naturally have existed, in spite of great natural disadvantages. Other nations have coal and iron ore as well as we. The United States are even richer in this respect. But other nations have, also, what we have not, they have native raw materials. It has been justly observed, that Great Britain is singularly poor in the raw materials which constitute the basis of the greater portion of her manufacturing...
Сторінка 22 - The entire price or gross value of every home-made article constitutes net gain, net revenue,* net income to British subjects. Not a portion of a value, but the whole value, is resolvable into net gain, income, or revenue maintaining British families, and creating or sustaining British markets. Purchase British articles with British articles, and you create two such aggregate values, and two such markets for British industry. " Whereas, on the contrary, the entire valae of every foreign article imported...

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