James B. is the possessor of fifteen francs, the fruit of his labour. He is now free. What does he do with his fifteen francs? He purchases some article of fashion for ten francs, and with it he pays (or the intermediate pay for him) for the hundred-weight of Belgian iron. After this he has five francs left. He does not throw them into the river, but (and this is what is not seen) he gives them to some tradesman in exchange for some enjoyment; to a bookseller, for instance, for Bossuet's "Discourse on Universal History."
Thus, as far as national labour is concerned, it is encouraged to the amount of fifteen francs, viz.:--ten francs for the Paris article, five francs to the bookselling trade.
As to James B., he obtains for his fifteen francs two gratifications, viz.:--
1st. A hundred-weight of iron.
2nd. A book.
The decree is put in force. How does it affect the condition of James B.? How does it affect the national labour?
James B. pays every centime of his five francs to M. Prohibant, and therefore is deprived of the pleasure of a book, or of some other thing of equal value. He loses five francs. This must be admitted; it cannot fail to be admitted, that when the restriction raises the price of things, the consumer loses the difference.
But, then, it is said, national labour is the gainer.
No, it is not the gainer; for since the Act, it is no more encouraged than it was before, to the amount of fifteen francs.
The only thing is that, since the Act, the fifteen francs of James B. go to the metal trade, while before it was put in force, they were divided between the milliner and the bookseller.