British Monitor (Newspaper) - July 28, 1822, London, Middlesex THE LATE THE PRO ARIS ET In inquiring how the value of labour may be increased without injury to the wealthier how the unemployed to be set to by whom they are to be what is to be done with the vast additional products which their productive industry is capable of two essential particulars be 01to be so very imperfectly that the complete solution which they give to these formidable not accurately These That Labour Source of all necessarily pays for its produces its own re own we can suppose it to be generally so misdirected as to be applied to un productive or to the execution of works of no real while the providing of neces and of habitual is altogether or insufficiently attended That there can be rid fear of finding for productions of every kind and however large may be gate when their distribution shall be conducted on Correct so long as the necessities of so many of human be ings are imperfectly supplied od the One and so long as the desire enjoyment of articles of elegance and insatiably active on the so long as the desire for inent of is t he spn rious Economists the which and of the constitu tion qf human or at least of human na ture as the existing phenomena of they of the supply of com as being at any time redundant or ex they speculate on the ignorant presumption Chat the numbers of the labouring classes are super when they under the influence of mischievous the mercantile trans fer of productions is frequently and the markets glutted with the demand of mankind for creations of hu man ingenuity and therefore satis they have writ ten on the the remains is roost perniciously notwithstanding the with which they have assumed and the pertinacity with which they maintain the that the real de mand has ever wants ot Society have ever been supplied is even how extensive soever may be the new powers hereafter acquired by that even then his boundless desires never will and never can be satisfied but that his disposition or will for ever be commen surate with and will even exceed his power create Tbe is unlimited when the spurious Economists erroneously conclude that it is it is in fact only violently and most injuriously by the operation of those very principles by which they have thought that it is beneficially sup plied The power to consume now is and ever must in the nature of than the power to The supply never can be made to equal the They never can be by the restraints which reason and knowledge may be compe tentto impose upon the desires of and which may teach them to rest satisfied with the possession of those enjoyments which are of easy Their first and most important it is can be supplied with a facility which would speedily place every human being in a state of high comparative comfort and prosperity but the progressive and insatiable thirst for higher and higher enjoy for more luxurious and expensive can only be restrained within the actual means possessed hv Society for it gra by the influence of education and the dictates of an enlightened and rational ask the mists whether these are upon that have the present universal glut of mercantile glut that of Society have been utterly mis conceived in which the affairs of Society are reatly on questions which can only be surveyed by large prid com can only be grasped by powerful and vigorous understand have betrayed a of a feebleness of a confused indis of discernment and that have served only to bewilder the world with ingenious and to obscure a as simple as it is with fallacious specu lations unprincipled That there can he no fear of finding I for the utmost ex ten tic f pro ductions any people Jati even although their commerce should be entirely confined within their own is there fore provided only that the distribu tion is facilitated by correct principles and ju only that the unlimited expressed in insa and be restrained by the and counter actions of the existing mercantile tothe mariner in which the value of la bour is to be its of labourers are easily though the several as much more as they we shall still be enabled to sell cheaper in the foreign and cheaper to each than vye do at are perfectly simple in which are not rendered evident to every the gregate income of thirteen or four or even twenty times its own In the ca pital possessed by the nation during the latter years of the sufficed for of a income than now obtained by Even after hair been made for supposed effect of there is still a much greater reduction of the income of the tlian of its monied If the income be now greater than the pecuniary and if that income has been greatly by unconnected with a trifling diminution of the there Can be no reason why the income should not bear a still greater to the or why an increase of the former should not take 1 place independently of any enlargement of the proportion Which the income bears to the capital is entirely dependant on the degree of rapidity which is given to its circulation to obtain a larger income from the same it neces sary that circulation should on with increased a of fifty millions of money be only transferred times course of a the national income obtained from it will be six hundred If it be turned over only six the income will be reduced to three hundred U pass from hand to hand twentyfour times the income of the the ex change remaining precisely ofthe satoe will be advanced to twelve hundred per annum The immense sums execution of the project may paid out of pur present pecuniary without the nation being rendered would be prodigiously The money of a so long as its expenditure and are carried on within cannot be annihilated or rapid may be its every every and every will be in existence at the end of the in the mean whatever buildings may be public or dim cult as it may be successfully j land is under improved ver increase is effected of agricultural of precisely po much gained by the without having cost the nation any thing but increased ex of its productive ing cost it any more than the additional application of v A most important consideration that seems tobe entirety the reach of the fashionable Political puerile theories now unfortunately world Supposing that the execution of the project requires to use one of the inaccurate terms of the spurious Political six it appears that the result will that LABOUR will have created to hundred milli ons worth NEW Wf ALTH the possessed by the nation will v and the be immensely degree of wisdom and with which the plication of its labour shall be III Qur readers now Understand we when we say thai the labourers and will richly repay industry be only judiciously The for which is about to be erected it Bother will be attended with an expenditure of about seventy thousand it put in the whole of the erections and works necessary for tho completion of that will be or or 6y The pay the labourers employed on the Supposing it to be true that the execution of Plan would require an ture of six hundred and that the pe value of the labour of the unemployed or of their if they were all set to work his amount to fifty or per it by no means that the nation must be pos sessed of this immense capital vih Order to the project into thai must be out of which the value of the labour is to be paid We shall to render The aggregate income of all classes of the British people is not at than six hundred millions per gross revenues of the and the alone amount to about severity millions per Yet the nation does not actually possess a capital in equal one year of its On the its ta pital in money equal in the sums actually paid in aii of the revenues of the 7 When it is therefore vast sums which the New System to come from is possible the wages of the unemployed population are to be paid we might in our turn the immense sums which are now derived by the people in the shape of spring how it is that the profits of the rental of the wages of and tho public are paid at ve find that the monied capital of the nation suffices for the payment of a national income I which is ten or twelve times the amount of the capital it be thought im t possible that the same extent of capital should I will appear to be effected in but be found sufficient for tho payment of an ngj will in fact consist of and
