A TREATISE

ON

POLITICAL ECONOMY.

ON

POLITICAL ECONOMY;

OR THE

PRODUCTION, DISTRIBUTION, AND CONSUMPTION

OF

WEALTH.

BY JEAN-BAPTISTE SAY.

TRANSLATED FROM THE FOURTH EDITION OF THE FRENCH,

BY C. R. PRINSEP, M. A.

WITH NOTES BY THE TRANSLATOR.

Fifth American Edition.

CONTAINING A TRANSLATION OF THE INTRODUCTION, AND ADDITIONAL NOTES,

BY CLEMENT C. BIDDLE,

MEMBER OF THE AMERICAN PHILOSOPHICAL SOCIETY.

Philadelphia:

GRIGG & ELLIOTT, No. 9, NORTH FOURTH STREET.

Eastern District of Pennsylvania, to wit:

BE it remembered, that on the eleventh day of May, A. D. 1827, in the fifty-first year of the Independence of the United States of America, John Grigg, of the said district, has deposited in this office the title of a Book, the right whereof he claims as proprietor, in the words following to wit:— "A Treatise on Political Economy; or the Production, Distribution and Consumption of Wealth. By Jean-Baptiste Say. Translated from the fourth edition of the French, by C. R. Prinsep, M. A. With notes by the Translator. Second American Edition. Containing a Translation of the Introduction, and additional Notes, by Clement C. Biddle, member of the American Philosophical Society."

In conformity to the Act of the Congress of the United States, entitled "An act for the encouragement of learning, by securing the copies of maps, charts and books, to the authors and proprietors of such copies, during the times therein mentioned:" and also to an act entitled, "An act supplementary to an act entitled, An act for the encouragement of learning, by securing the copies of maps, charts and books, to the authors and proprietors of such copies, during the times therein mentioned; and extending the benefits thereof to the arts of designing, engraving and etching historical and other prints.”

D. CALDWELL,

Clerk of the Eastern District of Pennsylvania.

J. Bioren, Printer.

II.

Of the different kinds of industry, and the mode in

which they concur in production

3

IV.

III. Of the nature of productive capital, and the mode

in which it concurs in the business of production

Of the natural agents, that assist in the production

of wealth; and specially of land

11

14

V.

VI.

Of the mode, in which industry, capital, and natu-

ral agents unite for the purpose of production

Of the operations common to all branches of in-

dustry alike

VII. Of the labour of mankind, of nature, and of ma-

chinery respectively

VIII. Of the advantages and disadvantages resulting

from the division of labour; and of the extent

to which it may be carried

IX.

X.

XI.

Of the different methods of employing commer-

cial industry; and the mode in which they con-

cur in production

Of the transformations undergone by capital, in

the progress of production

Of the formation and multiplication of capital

XII. Of unproductive capital

XIII. Of immaterial products, or values consumed at the

moment of production

XIV. Of the right of property

XV. Of the vent or demand for products

XVI. Of the benefits, resulting from the brisk circula-

tion of money or commodities