[21]. On the Production of Wealth, c. vi. s. vi. p. 349.
[22]. On the Production of Wealth, c. vi. s. vi. p. 349.
[23]. On the Production of Wealth, c. vi. s. vi. p. 345.
[24]. Id. p. 348.
[25]. It is quite astonishing that political economists of reputation should be inclined to resort to any kind of illustration, however clumsy and inapplicable, rather than refer to money. I suppose they are afraid of the imputation of thinking that wealth consists in money. But though it is certainly true that wealth does not consist in money, it is equally true that money is a most powerful agent in the distribution of wealth; and those who, in a country where all exchanges are practically effected by money, continue the attempt to explain the principles of demand and supply, and the variations of wages and profits, by referring chiefly to hats, shoes, corn, suits of clothing, &c., must of necessity fail.
[26]. Elem. of Polit. Econ. c. iv. s. iii. p. 234.
[27]. Elements of Polit. Econ. c. ii. sec. ii. p. 41.
[28]. Principles of Political Economy, part i. p. 5.
[29]. These remarks were principally directed against Lord Lauderdale’s definition of wealth—all that man desires as useful and delightful to him; but they apply with nearly equal force to Mr. Macculloch’s present definition, which is limited to those objects which possess exchangeable value. According to Mr. Macculloch’s own statement, health is purchased from the physician, and the gratification derived from acting from the actor; and it must be allowed that it is impossible to enjoy the benefits of civil and religious liberty without paying those who administer a good government. It has been said by Mr. Hallam, with some truth, that the liberties of England were chiefly obtained by successive purchases from the crown.
[30]. Principles of Polit. Econ., part iv. p. 406.