I.

II.

Of what is meant by the term production

Of the different kinds of industry, and the mode in

which they concur in production

1

3

III.

IV.

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

18

20

VII.

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

chinery respectively

26

VIII.

IX.

X.

Of the different methods of employing commer-

cial industry; and the mode in which they con-

cur in production

Of the advantages and disadvantages resulting

from the division of labour; and of the extent

to which it may be carried

32

41

-

XI.

Of the formation and multiplication of capital

XII. Of unproductive capital

XIII. Of immaterial products, or values consumed at the

Of the vent or demand for products

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

tion of money or commodities

Of the transformations undergone by capital, in

the progress of production

48

51

62

63

72

76

85

XVII. Of the effect of government-regulations, intended

to influence production

Sect. 1. Effect of regulations prescribing the na-

ture of the products

Digression-Upon what is called the ba-

lance of trade

2. Of the effect of regulations, fixing the

manner of production

3. Of privileged trading companies

4. Of regulations affecting the corn trade

XVIII. Of the effect upon national wealth, resulting from

the productive efforts of public authority

120

129

134

144

XIX. Of colonies and their products

148

XX.

Of temporary and permanent emigration, consi-

dered in reference to national wealth

160

XXI.

Of the nature and uses of money:

Sect. 1. General remarks

164

168

2. Of the material of money

3. Of the accession of value a commodity

receives, by being vested with the cha-

racter of money

4. Of the utility of coinage; and of the

charge of its execution

5. Of alterations of the standard of money

6. Of the reason why money is neither a

sign nor a measure

7. Of a particularity, that should be attend-

ed to, in estimating the sums mention-

ed in history-

8. Of the absence of any fixed ratio of value,

between one metal and another

9. Of money as it ought to be

11. Of the preferable form of coined money

12. Of the party, on whom the loss of coin

211

by wear should properly fall

212

XXII.

Of signs or representatives of money:

Sect. 1. Of bills of exchange and letters of credit

I.

II.

BOOK II.

OF THE DISTRIBUTION OF WEALTH.

Of the basis of value, and of supply and demand -

Of the sources of revenue

PAGE

235

244

III.

Of real and relative variation of price

250

IV.

Of nominal variation of price, and of the peculiar

value of bullion and of coin

259

-V.

Of the manner, in which revenue is distributed

amongst society -

267

VI.

Of what branches of production yield the most libe-

ral recompense to productive agency

275

- VII.

Of the revenue of industry:

Sect. 1. Of the profits of industry in general

2. Of the profits of the man of science

3. Of the profits of the master-agent or ad-

venturer in industry

278

283

284

4. Of the profits of the operative labourer

5. Of the independence accruing to the mo-

derns from the advancement of industry

3. Of the employments of capital most bene-

ficial to society

Of the effect of revenue derived by one nation from

another

325

Of the mode, in which the quantity of the product

affects population:

Sect. 1. Of population, as connected with political

329

economy

2. Of the influence of the quality of a nation-

al product upon the local distribution of

the population

340

ral

357

V.

Of individual consumption, its motives and its ef-

fects

362

VI.

Of public consumption:

Sect. 1. Of the nature and general effect of public

consumption

373

2. Of the principal objects of national expen-

diture

383

Of the charge of civil and judicial admi-

nistration

384

Of charges, military and naval

389

Of the charges of public instruction

393

Of the charges of public benevolent insti-

tutions

Of the charges of public edifices and works

- VII. Of the actual contributors to public consumption

VIII. Of taxation:

400

403

Sect. 1. Of the effect of all kinds of taxation in ge-

neral

4. Of the territorial or land-tax of Eng-

land

440

IX.

Of national debt:

Sect. 1. Of the contracting of debt by national au-

thority, and of its general effect -

442

2. Of public credit, its basis, and the circum-

stances that endanger its solidity

447

ADVERTISEMENT

By the American Editor.

No WORK upon political economy, since the publication of Dr. Adam Smith's profound and original Inquiry into the Nature and Causes of the Wealth of Nations, has attracted such general attention, and received such distinguished marks of approbation from competent judges, as the "Traite D'Economie Politique" of M. Say. It was first printed in Paris in the year 1803; and, subsequently, has passed through five large editions, that have received various corrections and improvements from the author. Translations of the work have been made into the German, Spanish, Italian, and other languages; and it has been adopted as a text-book in all the universities of the continent of Europe, in which this new but essential branch of liberal education is now taught. The four former American editions of this translation have also been introduced into many of the most respectable of our own seminaries of learning.

It is unquestionably the most methodical, comprehensive, and best digested treatise on the elements of political economy, that has yet been presented to the world. It exhibits a clear and systematical view of all the solid and important doctrines of this very extensive and difficult science, unfolded in their proper order and connexion. In the establishment of his principles, the author's reasonings, with but few exceptions, are logical and accurate, delivered with distinctness and perspicuity, and generally supported by the fullest and most satisfactory illustrations. A rigid adherence to the inductive