1S9
CHAPTER XVI.
On Political Economy :—or those Circumstances con-
NECTED WITH THE IMPROVEMENT OF A COUNTRY, WHICH
depend on Legislative Authority, or Public Encou.
RAGEMENT.
By tlie Rev. Charles Findlater, Minister of Newlands, in Peebles-shire.
Preliminary Observations.
The legitimate objeft of the fcience of Political Economy is,to inveftigate the fources of human happpinefs, and of nationalprofperity, in fo far as thefe confift in the poffeffion of an abundanceof the neceffaries, the conveniencies, and the comforts of life.
The fum of human happinefs which exifts in any given territory,Bull be eftimated by the extent of population which it can main,tain in a ftate of comfortable fubfiftence. The extent of popula-tion which can thus be fupported, depends upon the progreffive im-provement of agriculture, and the other ufeful arts ; and their im-provement is the joint refult of stoclc, of shill, and of industry, allof which are mutually dependent upon, and fubfervient to each o-ther. If thefe are protected in their operations by a wife and juftgovernment, their natural tendency is, to carry civilization and poli-tical profperity to their higheft pitch ; a tendency which nothingis likely to difturb, unlefs fucli undue fcope fhould be given to thepowers of propagation, as fhould multiply population beyond all pof-fible means of comfortable fubliftence,—a fituation which it is at alltimes within the compafs of thefe powers very fpeedily to produce.
Stock is created by man, out of the favings of the product of hiaiiriuftry. A certain degree of fuch accumulation, were it hut mere-ly of the acquifitions of the chafe, is indifpenfable to that leifuresail refpite from inceffant bodily fatigue, in acquiring the neceffariesof life, which allows time for the exertion of the intellectual potv-f's, and for fupplying interim fubfiftence; till thofe plans are carried'MoelFit, which infer, not only leifure and fkill in their contrivance,but the application, for a confiderable length of time, of means intbemfelvea not immediately profitable, before the profitable refult isobtained.