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Immediate,
Ultimate,
II. Effect upon Consumers,
101
103
107
CHAPTER THIRD.
OF THE LAWS WHICH GOVERN THE APPLICATION OF LA-
BOR TO CAPITAL.
SECTION I.
The Conditions of our being, on which the laws on this sub-
ject are founded,
110
SECTION II.
Industry will be applied to Capital, as every man enjoys the
advantages of his Labor and Capital.
As every man may gain all he can,
As every man may use his own as he will,
114
119
SECTION III,
Labor will be applied to Capital, as every man suffers the
inconveniences of Idleness,
Poor Laws,
SECTION IV.
The greater the Ratio of Capital to Labor, the greater will be
the Stimulus to Labor,
124
126
129
SECTION V.
Industry will be applied to Capital, in proportion to the In-
tellectual Condition of u People,
132
SECTION VI.
Of the Effects of direct Legislation, as a means of increas-
ing Production.
Production,
Of Protecting Duties,
Of Bounties,
Objections Considered,
140
147
BOOK SECOND.
EXCHANGE.
CHAPTER FIRST.
BARTER, OR EXCHANGE IN KIND.
Of the principles in our Constitution which give rise to Ex-
change,
161 SECTION II.
General Doctrines of Exchange.
Of the exchangeable value of Products,
173
Exchange confers no new value,
177
Conditions on which frequency of Exchange depends, 181
Stagnation of Business,
187
Effects of legislative enactments on Exchange,
190
Internal Improvements,
193
CHAPTER SECOND.
EXCHANGE BY MEANS OF A METALLIC CURRENCY.
Of the Use of a Circulating Medium,
198
SECTION. II.
Of the Qualities necessary to that which constitutes a Circu-
lating Medium,
205
SECTION III.
Of the Functions of Money,
211
Of the Agency of Government, in respect to a Circulating Me-
dium,
229
OF A CIRCULATION BY MEANS OF A PAPER CURRENCY.
Of the Nature of Banks in General.
Banks of Deposit and Exchange,
237
Banks of Discount, or Loan,
247
Banks of Circulation, or Issue,
250
Of the sources of the profit of Banks,
256
Of the Utility of Banks.
As Institutions of Deposit,
" Loan,
" Circulation,
258
261
275
Advantages and disadvantages of a Paper Circulation,
278
SECTION IV,
Of the agency of Society, that is, Government, in respect to
a Paper Circulation,
295
BOOK THIRD.
OF DISTRIBUTION.
WAGES, OR THE PRICE OF LABOR.
The General Principles of Wages.
Of Simple Labor,
Of Educated Labor,
Of the supply of Simple Labor,
of the demand for Simple Labor,
Population and Wages,
Labor in the Fine Arts,
309
316
318
320
328
Of the Special Circumstances by which, irrespectively of Cap-
ital, the wages of labor are affected, :
329
THE PRICE OF MONEY, OR INTEREST.
Of the benefit of Capital to the Laborer,
334
Of Risk and Convenience of Investment.
Of Risk,
Of Convenience of Investment,
339
342
344
345
348
349
351
355
Of the Rate of Interest, as affected by the use of Capital.
By the average profit of Capital,
« Ratio between Supply and demand,
66 Freedom of Capital,
66 Taxation,
• Usury Laws,
Of Stocks,
OF THE PRICE OF LAND, OR RENT.
Price of Land, or Rent,
Mines,
Interest of Real Estate,
Extent of Business,
Insurance,
360
375
376
379
382
BOOK FOURTH.
OF CONSUMPTION.
OF THE NATURE AND DESIGN OF CONSUMPTION.
Nature of Consumption,
Design of Consumption,
384
388
OF INDIVIDUAL CONSUMPTION.
SECTION 1.
of individual Consumption, for the sake of re-production.
Of Consumption of Capital,
393
Of Consumption of Labor,
397
Of Consumption for the gratification of Desire.
Of Consumption for the purpose of self-gratification, simply, 402
Consumption in respect to the relative Objects of Desire, 406
OF PUBLIC CONSUMPTION.
Of Taxes, or the manner in which the public expenditure is
provided for.
Of direct and indirect Taxation,
416
of the principle by which Taxation should be regulated, 419
Of the purposes for which the Public Revenue is commonly ex-
pended.
Of the expenses of Civil Government,
423
Expenses for Public Education,
425
66 Maintaining Religious Worship,
429
6. National Improvement,
430
" Pauperism,
431
432
Note on the Precious Metals,
434
66
66 War,
ELEMENTS
OF
POLITICAL ECONOMY.