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Supposing the captain of a frigate saw it right； or were by
any chance obliged； to place his own son in the position of a
common sailor： as he would then treat his son； he is bound always
to treat every one of the men under him。 So； also； supposing the
master of a manufactory saw it right； or were by any chance
obliged； to place his own son in the position of an ordinary
workman； as he would then treat his son； he is bound always to
treat every one of his men。 This is the only effective； true； or
practical Rule which can be given on this point of political
economy。
And as the captain of a ship is bound to be the last man to
leave his ship in case of wreck； and to share his last crust with
the sailors in case of famine； so the manufacturer； in any
commercial crisis or distress； is bound to take the suffering of
it with his men； and even to take more of it for himself than he
allows his men to feel； as a father would in a famine； shipwreck；
or battle； sacrifice himself for his son。
All which sounds very strange： the only real strangeness in
the matter being； nevertheless； that it should so sound。 For all
this is true； and that not partially nor theoretically； but
everlastingly and practically： all other doctrine than this
respecting matters political being false in premises； absurd in
deduction； and impossible in practice； consistently with any
progressive state of national life； all the life which we now
possess as a nation showing itself in the resolute denial and
scorn； by a few strong minds and faithful hearts； of the economic
principles taught to our multitudes； which principles； so far as
accepted； lead straight to national destruction。 Respecting the
modes and forms of destruction to which they lead； and； on the
other hand； respecting the farther practical working of true
polity； I hope to reason farther in a following paper。
The Veins of Wealth
The answer which would be made by any ordinary political
economist to the statements contained in the preceding paper； is
in few words as follows：
〃It is indeed true that certain advantages of a general
nature may be obtained by the development of social affections。
But political economists never professed； nor profess； to take
advantages of a general nature into consideration。 Our science is
simply the science of getting rich。 So far from being a
fallacious or visionary one； it is found by experience to be
practically effective。 Persons who follow its precepts do
actually become rich； and persons who disobey them become poor。
Every capitalist of Europe has acquired his fortune by following
the known laws of our science； and increases his capital daily by
an adherence to them。 It is vain to bring forward tricks of
logic； against the force of accomplished facts。 Every man of
business knows by experience how money is made； and how it is
lost。〃
Pardon me。 Men of business do indeed know how they themselves
made their money； or how； on occasion； they lost it。 Playing a
long…practised game； they are familiar with the chances of its
cards； and can rightly explain their losses and gains。 But they
neither know who keeps the bank of the gambling…house； nor what
other games may be played with the same cards； nor what other
losses and gains； far away among the dark streets； are
essentially； though invisibly； dependent on theirs in the lighted
rooms。 They have learned a few； and only a few； of the laws of
mercantile economy； but not one of those of political economy。
Primarily； which is very notable and curious； I observe that
men of business rarely know the meaning of the word 〃rich。〃 At
least； if they know； they do not in their reasonings allow for
the fact； that it is a relative word； implying its opposite
〃poor〃 as positively as the word 〃north〃 implies its opposite
〃south。〃 Men nearly always speak and write as if riches were
absolute； and it were possible； by following certain scientific
precepts； for everybody to be rich。 Whereas riches are a power
like that of electricity； acting only through inequalities or
negations of itself。 The force of the guinea you have in your
pocket depends wholly on the default of a guinea in your
neighbour's pocket。 If he did not want it； it would be of no use
to you； the degree of power it possesses depends accurately upon
the need or desire he has for it； and the art of making
yourself rich； in the ordinary mercantile economist's sense； is
therefore equally and necessarily the art of keeping your
neighbour poor。
I would not contend in this matter （and rarely in any matter）
for the acceptance of terms。 But I wish the reader clearly and
deeply to understand the difference between the two economies； to
which the terms 〃Political〃 and 〃Mercantile〃 might not
unadvisedly be attached。
Political economy （the economy of a State； or of citizens）
consists simply in the production； preservation； and
distribution； at fittest time and place； of useful or pleasurable
things。 The farmer who cuts his hay at the right time； the
shipwright who drives his bolts well home in sound wood； the
builder who lays good bricks in well…tempered mortar； the
housewife who takes care of her furniture in the parlour； and
guards against all waste in her kitchen； and the singer who
rightly disciplines； and never overstrains her voice； are all
political economists in the true and final sense： adding
continually to the riches and well…being of the nation to which
they belong。
But mercantile economy； the economy of 〃merces〃 or of 〃pay；〃
signifies the accumulation； in the hands of individuals； of legal
or moral claim upon； or power over； the labour of others； every
such claim implying precisely as much poverty or debt on one
side； as it implies riches or right on the other。
It does not； therefore； necessarily involve an addition to
the actual property； or well…being； of the State in which it
exists。 But since this commercial wealth； or power over labour；
is nearly always convertible at once into real property； while
real property is not always convertible at once into power over
labour； the idea of riches among active men in civilized nations；
generally refers to commercial wealth； and in estimating their
possessions； they rather calculate the value of their horses and
fields by the number of guineas they could get for them； than the
value of their guineas by the number of horses and fields they
could buy with them。
There is； however； another reason for this habit of mind；
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