Page:Principles of Political Economy Vol 1.djvu/390

368 cultural practices of the country, and which is customary on its large estates, the cause must lie in one of the salutary influences of the system; the eminent degree in which it promotes providence on the part of those who, not being yet peasant proprietors, hope to become so. In England, where the agricultural labourer has no investment for his savings but the savings bank, and no position to which he can rise by any exercise of economy, except perhaps that of a petty shopkeeper, with its chances of bankruptcy, there is nothing at all resembling the intense spirit of thrift which takes possession of one who, from being a day labourer, can raise himself by saving to the condition of a landed proprietor. According to almost all authorities, the real cause of the morcellement is the higher price which can be obtained for land by selling it to the peasantry, as an investment for their small accumulations, than by disposing of it entire to some rich purchaser who has no object but to live on its income, without improving it. The hope of obtaining such an investment is the most powerful of inducements, to those who are without land, to practise the industry, frugality, and self-restraint, on which their success in this object of ambition is dependent.

As the result of this enquiry into the direct operation and indirect influences of peasant properties, I conceive it to be established, that there is no necessary connexion between this form of landed property and an imperfect state of the arts of production; that it is favourable in quite as many respects as it is unfavourable, to the most effective use of the powers of the soil; that no other existing state of agricultural economy has so beneficial an effect on the industry, the intelligence, the frugality, and prudence of the population, nor tends on the whole so much to discourage an improvident increase of their numbers; and that no existing state, therefore, is on the whole so favourable both to their moral and their physical welfare. Compared with the English system of cultivation by hired labour, it must be regarded as eminently beneficial