American Political Economy: Including Strictures on the Management of the Currency and the Finances Since 1861, with a Chart Showing the Fluctuations in the Price of Gold
C. Scribner, 1870 - 495 páginas
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actually advantage agricultural already America amount annual average banks become bills called capital cause cent circulation coin commodities consequence considerable consumed cost course created currency debt demand Deposits diminished distribution dollars effect employed employment England English equal exchange exist expense extent fact fall foreign former funds gains give gold greater half hand immediate importance income increase individual industry interest issue labor land larger least less limited loans manufactures means measure millions natural nearly necessary needed notes obtain operations paid payment period persons population portion present probably production Profits proportion purchase quantity raise reason received reduced Rent respect result rise savings says sell silver soon specie supply tion trade United Wages wants wealth whole
Página 383 - The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities ; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.
Página 392 - A direct tax is one which is demanded from the very persons who, it is intended or desired, should pay it. Indirect taxes are those which are demanded from one person in the expectation and intention that he shall indemnify himself at the expense of another: such as the excise or customs.
Página 431 - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself...
Página 289 - ... no State shall coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts.
Página 383 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as Little as possible, over and above what it brings into the public treasury of the state.
Página 434 - The superiority of one country over another in a branch of production, often arises only from having begun it sooner. There may be no inherent advantage on one part, or disadvantage on the other, but only a present superiority of acquired skill and experience.
Página 52 - The difference of natural talents in different men is, in reality, much less than we are aware of; and the very different genius which appears to distinguish men of different professions, when grown up to maturity, is not upon many occasions so much the cause, as the effect of the division of labour.
Página 108 - The laws and conditions of the production of wealth, partake of the character of physical truths. There is nothing optional, or arbitrary in them. Whatever mankind produce, must be produced in the modes, and under the conditions, imposed by the constitution of external things, and by the inherent properties of their own bodily and mental structure.
Página 384 - Equality of taxation, therefore, as a maxim of politics, means equality of sacrifice. It means apportioning the contribution of each person towards the expenses of government, so that he shall feel neither more nor less inconvenience from his share of the payment than every other person experiences from his.