By Edwin Cannan
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Extra resources for A review of economic theory
Sample text
Pp. " It was supposed that some pains must be taken by the Government of the country to secure that this "favourable balance of trade , should exist. Ordinary unfettered trade might be trusted to bring in ordinary commodities which were wanted, § 3·] MERCANTILISM II but not to bring in gold and silver. Hence came a mass of duties, bounties and regulations intended to discourage importation of goods and to encourage exportation. Each country was regarded as a unit, and the interest of each was supposed to be opposed to that of all the test, as the great object of each of them was to get as much gold and silver as possible at the expense of the others.
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P. 99). So Smith told his Glasgow class: "Police is the second general division of jurisprudence. , cleanliness, security, and cheapness or plenty" (Lectures, p. 154). But he had very little to say about cleanliness and security. " Cleanliness he seems to have regarded as merely the "proper method of carrying dirt from the streets," about which he had nothing to suggest, though it was a thing certainly not unimportant when the streets were still largely receptacles for what now is put in the dust-bin or the sewer.