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Rh the three foundations of economy, are moral qualities, and cannot be attained without moral discipline: a flat truism, the reader may think, thus stated, yet a truism which is denied both vociferously, and in all endeavour, by the entire populace of Europe; who are at present hopeful of obtaining wealth by tricks of trade, without industry; who, possessing wealth, have lost in the use of it even the conception,—how much more the habit?—of frugality; and who, in the choice of the elements of wealth, cannot so much as lose—since they have never hitherto at any time possessed,—the faculty of discretion.

14. Now if the teachers of the pseudo-science of economy had ventured to state distinctly even the poor conclusions they had reached on the subjects respecting which it is most dangerous for a populace to be indiscreet, they would have soon found, by the use made of them, which were true, and which false. But on main and vital questions, no political economist has hitherto ventured to state one guiding principle. I will instance three subjects of universal importance. National Dress. National Rent. National Debt.