Principles of Political Economy, Vol. 2

(From the French)
Entered according to Act of Congress, in the year eighteen hundred and seventy-eight, By CALLAGHAN & CO., In the office of the Librarian of Congress, at Washington, D. C.
DAVID ATWOOD, STEREOTYPER AND PRINTER, MADISON, WIS.
SECTION CXLIV.
RECEIPTS.—INCOME.—PRODUCE.
SECTION CXLV.
INCOME.—GROSS, FREE AND NET.
In England, this kind of book-keeping is very gradually coming into use even among farmers, while Simond , Voyage en Angleterre, 2 ed., II, 64, Dunoyer , Liberté du Travail, VIII, 5, say, it would in France be considered as ridiculous as the book-keeping of an apple vendor. In Germany, there have been for some time past, manufactories of commercial books. Besides, the remarkable difference brought out by the income tax in England between the exact statements made by large manufacturers, etc., and by those engaged in industry on a medium or small scale, bears evidence of the better way in which the former keep their accounts, the cause and effect of their better business in general. Compare Knies , in the Tübing. Zeitschr., 1854, 513. On the best mode of determining income, see Cazaux , Eléments d'Économie publique et privée, Livre, II. It is especially necessary to keep an account of the increase or diminution, even when accidental, of the value of the fixed capital employed.
SECTION CXLVI.
NATIONAL INCOME.—ITS STATISTICAL IMPORTANCE.
In the former case the gross national income consists:
A. Of the raw material newly obtained in the country.