The Industrial Revolution

Bibliographic data

Monograph

Identifikator:: 1027928145

URN:: urn:nbn:de:zbw-retromon-159926

Document type:: Monograph

Author:: Cunningham, William http://d-nb.info/gnd/128907487

Title:: The Industrial Revolution

Place of publication:: Cambridge

Publisher:: The University Press

Year of publication:: 1922

Scope:: xxii S., S. 404-886

Digitisation:: 2021

Collection:: Economics Books

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A.D. 1776 -1850. er: 1791. LAISSEZ FAIRE hide, is of little value, compared to the carcase that was inclosed in it. Besides, the produce is not the only circum- stance to be considered: that produce, by the art of the manufacturer, may be made infinitely more valuable than it originally was. For instance: If Great Britain, by improving its wool, either in respect to quantity or quality, could add a million to the rent-rolls of the proprietors of the country, that, according to the common ideas upon the subject, is all the advantage that would be derived from the improvement: but that is far from being all, the additional income to the landlord could only arise from at least twice the additional produce to the farmer; consequently, the total value of the wool could not be estimated at less than two millions: and as the manufacturer by his art would treble the value of raw material, the nation would be ultimately benefited in the amount of six millions per annum. It is thus that internal improvements are so infinitely superior, in point of solid profit, to that which foreign commerce produces. In the one case, lists of numerous vessels loaded with foreign com- modities, and the splendid accounts transmitted from the Custom House, dazzle and perplex the understanding; whereas, in the other case, the operation goes on slowly, but surely. The nation finds itself rich and happy; and too often attributes that wealth and prosperity to foreign commerce and distant possessions, which properly ought to be placed to the account of internal industry and exertion. It is not meant by these observations to go the length that some might contend for; namely, to give any check to foreign commerce, from which so much public benefit is derived; but it surely is desirable that internal improvement should at least be considered as an object fully as much entitled to attention as distant speculations, and, when they come into competition, evidently 50 be preferred.” So far as external commerce is concerned effect had been given to these views by the Act of 17913 which repealed all the existing corn laws; it aimed at keeping the price ranging between 46s. and 54s. the quarter. A bounty of 5s. was to be paid on the export of wheat when i Reports, Ix. pp. 209-210. 3 31 Geo. III. c. 80. On the working of this measure see Reports, 1803-4. 7. 699, 793, and the amending Act of 1804, 44 Geo. IIL. c. 109.

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