I wish to inquire more minutely, whether such facts as are known do not cast a sufficient light over all the others in general, to induce the most anxious and pressing creditor, and the nicest in point of proofs, to sleep in the utmost security, till some particular discovery pleads in justification of his alarms.
The present revenue of England is stated at 63 millions; that of Scotland, at about 7 millions; collectively, 70,000,000l. It will be seen hereafter, that 65 or 75 millions would give the same essential results: I must however add, if any thing more should be wanted, that, in his estimate, Mr. Young does not include the horses, hemp, flax, vegetables, fruit, nor hops, &c. all of which are reproduced annually, and augment considerably the number of exchanges held out to industry.
This landed revenue is produced by somewhat more than one third of the inhabitants.
It remains for us now to compute, at the lowest, the income produced by a second class of people, probably as numerous as the former, since not less than 1,500,000 persons of both sexes, and of all ages, are employed solely in preparing and working the wool. (See Chalmers’s Estimates.) But if the labour of 3,000,000 of husbandmen brings in 70 millions annually, why should that of an equal number of mechanics and handicraftsmen stand for less in the computation? To this reason let the following remarks be added.
Out of the 70 millions, 20 come to the share of the cultivators, either as the price of their labour, or for poor’s rates; 12, of these 20 millions, at least, are laid out for the produce of industry: bread, it may be observed, is comprised in the remaining 8 millions.
Let us state the number of proprietors at 2,000,000, including all their dependents, under any denomination whatever, women, children, chaplains, farmers, physicians, strollers, servants, &c. and their annual expenditure, in the rough produce of the land, at 18 millions, there remains only 32,000,000, which must be paid by the industry, already in advance, of the 12,000,000 exchange granted to the cultivator. It is obvious that I speak here only of that kind of industry which may be productive of exchangeable commodities, even against those of foreign produce.
Three millions of mechanics do not live more soberly, nor are they worse clothed, than the husbandmen: it may therefore be inferred, that out of the 20 millions, which they likewise receive for their labour, they lay out in the produce of industry, 12 millions, which, added to the 44 millions I have just mentioned, make, all together, 56 millions.
The manufacturers and principal traders, under every denomination, with their dependents of all kinds, complete the necessary number of the supposed population of 9,350,000 inhabitants, that is, 1,100,000 souls, themselves, the idle people supported by them, and their household included. Supposing their consumption of the rough produce to be proportionable to that of the proprietor, their expenditure will be 10,000,000; but then we must square by the same rule what they lay out for the produce of industry: 18 millions will be the sum, which, together with the other 56 millions, makes a mass of 74, instead of the 70,000,000 acknowledged in agriculture. Even this would not be sufficient, for reasons which I shall give in the sequel; but I shall observe, in the first instance, that were the population less numerous than we have supposed it to be, the same consumption of the rough produce is certainly inadmissible: but the landed revenue remaining the same, though procured by a less number of hands, it would then become necessary to estimate the amount of the labours of industry, effected by a number of handicraftsmen, equal to that of the cultivators, from the ascertained value of the latter’s productive labour.
I now return to the deficit wanted for the security of a constant increase of wealth, which may at all times supply all the exigencies of the State.
The 18,000,000 consumed on the produce of industry, as granted to the principal traders, seem to raise them to 4,000,000 above their real value; I mean, that which is acknowledged in the produce of agriculture. It is not under colour of the supposed interest of the enormous principal, which gives motion to the manufactures and to the inland trade; it is necessary that industry should contribute its stock, as well as agriculture. The principals laid out, by the one or the other, are a matter of indifference to the state; it can speculate but on their produce, and pays exactly the interests, when it rates at the same value the result of the labours of both; but, to the 70 millions assigned as the indisputable produce of industry, (supposing a laborious man to be as good as any other equally industrious) we must add the intrinsic value of the rough materials on which industry hath wrought: This accession, which is also fair and equitable, will furnish, not only the 4,000,000, which annually exceed the home consumption just mentioned, but likewise all the millions necessary to secure, and mean while explain, this gradual increase, which it would be difficult not to trace in trade, as it is observable in the landed property. The latter is doubled within the space of 90 years; from whence we are forced to conclude, that the annual savings of the farmers, and owners living on the spot and cultivating their estates on the true principles of husbandry, have sufficed to discharge, not only the public burdens, and to defray the manuring expences, but also to double the produce and the general means in the most important article. It remains now to examine, whether the savings of the manufacturers, traders, and other supporters of industry, are as indisputable as those made by the cultivators.