list2-第26章
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wealth of the nation shows itself in the thus increased value of
landed property。
MacQueen（1*） has prepared the following estimate of the
national wealth and national income of England：
I。 NATIONAL CAPITAL。
1。 In agriculture； lands； mines； and fisheries。。。。
2；604 mill。
Working capital in cattle； implements； stocks； and money。。。。
655 〃
Household furniture and utensils of the agriculturists。。。。
52 〃
3；311 〃
2。 Invested in manufactures and commerce：
Manufactures； and home trade in manufactured
goods。。。。。 178
1/2 〃
Trade in colonial goods。。。 11
〃
Foreign trade in manufactured goods。。。。。 16
1/2 〃
206
〃
To this add increase since 1835 （in which year this
estimate was made）。。。。。。 12
〃
218
mill。
Then in town buildings of all kinds； and in manu…
facturing buildings 605
〃
In ships。。。。。。。。 33
1/2 〃
In bridges； canals； and railways。。。 118
〃
In horses which are not used in agriculture。。。 20
〃
776
1/2 mill。
Amount of the whole national capital （exclusive of
the capital invested in the colonies； in foreign loans；
and in the English public funds）。。。。。。 4；305
1/2 mill。
II。 GROSS NATIONAL PRODUCTION。
1。 Of agriculture； mines； and fisheries。。。。 539
mill。
2。 Manufacturing production。。。。。。。 259
1/2 〃
798
1/2 〃
From this estimate it may be seen：
1。 That the value of the land devoted to agriculture amounts to
26/43 of the whole English national； property； and is about twelve
times more than the value of the whole capital invested in
manufactures and in commerce。
2。 That the whole capital invested in agriculture amounts to
over three…fourths of the English national capital。
3。 That the value of the whole fixed property in England；
namely：
Of the land； &c。 2；604
mill。
Of houses in towns； and manufacturing buildings。。。 605
〃
Of canals and railways。。。。。 118
〃
3；327
〃
is therefore equal to more than three…fourths of the whole English
national capital。
4。 That the manufacturing and commercial capital； inclusive of
ships； does not altogether amount to more than 241 1/2 millions；
and therefore to only about 1/18 of the English national wealth。
5。 That the whole English agricultural capital； with 3；311
millions； yields a gross income of 539 millions； consequently about
16 per cent； while manufacturing and commercial capital； amounting
to 218 millions； gives a gross annual production of 259 1/2
millions or of 120 per cent。
It must here； above all things； be noted that the 218 millions
manufacturing capital； with an annual production of 259 1/2
millions； constitute the chief reason why the English agricultural
capital could have attained to the enormous amount of 3；311
millions； and its annual produce to the sum of 539 millions。 By far
the greatest part of the agricultural capital consists in the value
of land and cattle。 Manufactures； by doubling and trebling the
population of the country； by furnishing the means for an immense
foreign commerce； for the acquisition and exploration of a number
of colonies； and for a large mercantile marine； have increased in
the same proportion the demand for means of subsistence and raw
materials； have afforded to the agriculturist at once the means and
the motive for satisfying this increased demand； have increased the
exchangeable value of these products； and thus caused the
proportionate increase in the amount and the selling value of the
rent of land； consequently of the land itself。 Were these 218
millions of manufacturing and commercial capital destroyed； we
should see not merely the 259 1/2 millions manufacturing
production； but also the greatest part of the 3；311 millions
agricultural capital； and consequently of the 539 millions
agricultural production； disappear。 The English national production
would not merely lose 259 1/2 millions （the value of its
manufacturing production）； but the value of land would decline to
the value which it has in Poland； i。e。 to the tenth or twentieth
part of its present value。
From this it follows that all capital which is devoted by the
agricultural nation in a profitable manner to manufactures；
increases in the course of time the value of the land tenfold。
Experience and statistics everywhere confirm this statement。
Everywhere it has been seen that in consequence of the
establishment of manufactures the value of land and also that of
the stock of capital rapidly increases。 Let anyone compare these
values in France （in 1789 and in 1840）； in North America （in 1820
and in 1830）； or in Germany （in 1830 and in 1840）； how they have
corresponded with a less developed or a more fully developed
condition of manufactures； and he will find our observation
everywhere confirmed。
The reason for this appearance lies in the increased power of
production in the nation； which emanates from the regular division
of labour and from the strengthened confederation of the national
powers； also from a better use of the mental and natural powers
placed at the disposal of the nation； and from foreign commerce。
These are the very same causes and effects which we may
perceive in respect to improved means of transport； which not
merely yield in themselves a revenue； and through it a return for
the capital spent upon them； but also powerfully promote the
development of manufactures and agriculture； whereby they increase
in the course of time the value of the landed property within their
districts to tenfold the value of the actual material capital which
has been employed in creating them。 The agriculturist； in
comparison with the undertaker of such works （improved means of
transport）； has the great advantage of being quite sure of his
tenfold gain on his invested capital and of obtaining this profit
without malting any sacrifices； while the contractor for the works
must stake his whole capital。 The position of the agriculturist is
equally favourable as compared with that of the erector of new
manufactories。
If； however； this effect of manufactures on agricultural
production； on rent； and therefore on the value of landed property；
is so considerable and advantageous for all who are interested in
agriculture； how； then； can it be maintained that protective
measures would favour manufactures merely at the cost of the
agriculturists？
The material prosperity of agriculturists； as well as of all
other private persons； principally depends on the point that the
value of what they produce shall exceed the value of what they
consume。 It； therefore； is not so important to them that
manufactured goods should be cheap； as especially that a large
demand for various agricultural products should exist； and that
these should bear a high value in exchange。 Now； if measures of
protection operate so that the agriculturist gains more by the
improvement of the market for his own produce than he loses by the
increase of the prices of such manufactured goods as he requires to
buy； he cannot rightly be described as making a sacrifice in favour
of the manufacturer。 This effect is； however； always observable in
the case of all nations who are capable of establishing a
manufacturing power of their own； and in their case is most
apparent during the first period of the rise of the native
manufacturing industry； since just at that time most of the capital
transferred to manufacturing industry is spent on the erection of
dwelling houses and manufactories； the application of water power；
&c。； an expenditure which chiefly benefits the agriculturist。
However much in the beginning the advantages of the greater sale of
agricultural produce and of its increased value outweighs the
disadvantage of the increased price of manufactured goods； so must
this favourable condition always increase further to the advantage
of the agriculturists； because the flourishing of the manufactories
always tends in the course of time continually more and more to
increase the prices obtainable for agricultural produce and to
lessen the prices of manufactured goods。
Further； the prosperity of the agriculturist and landed
proprietor is especially dependent on the circumstance that the
value of the instrument from which his income is derived； namely；
his landed property； at least maintains its former position。 This
is not merely the chief condition of his prosperity； but frequently
of his entire economical existence。 For instance； it frequently
happens that the annual production of the agriculturist exceeds his
consumption； and nevertheless he finds himself ruined。 This occurs
if while his landed property is encumbered with money debts； the
general credit becomes fluctuating； if on one side the demand for
money capital exceeds the supply of it； and on the other hand the
supply of land exceeds the demand。 In such cases a general
withdrawal of money loans and a general offer of land for sale
arises； and consequently land becomes almost valueless； and a large
number of the most enterprising； active； and economical land
cultivators are ruined； not because their consumption has exceeded
their production； but because the instrument of their production；
their landed property； has lost in their hands a considera
