Page:The wealth of nations, volume 3.djvu/449

 Oxford, University of, the professorships there, sinecures, iii. 138.

, the credit of, how established, i. 404; the operation of paper money explained, 405; its effect on the circulation of cash, ibid.; promotes industry, 407; operation of the several banking companies established in Scotland, 410; can never exceed the value of the gold and silver, of which it supplies the place, in any country, 415; consequences of too much paper being issued, 416; the practice of drawing and redrawing explained, with its pernicious effects, 428–430; the advantages and disadvantages of paper credit stated, 444–445; ill effects of notes issued for small sums, 448; suppressing small notes, renders money more plentiful, 449; the currency of, does not affect the prices of goods, 450; account of the paper currency in North America, 453.—Expedient of the government of Pennsylvania to raise money, iii. 217; why convenient for the domestic purposes of the North Americans, 393.

Paris enjoys little more trade than is necessary for the consumption of its inhabitants, ii. 15.

Parish ministers, evils attending vesting the election of, in the people, iii. 201.

Parsimony is the immediate cause of the increase of capitals, ii. 17; promotes industry. ibid.; frugal men public benefactors, 22.—Is the only means by which artificers and manufacturers can add to the revenue and wealth of society, according to the French agricultural system of political economy, iii. 15.

Pasture land, under what circumstances more profitable than arable land, i. 233; why it ought to be inclosed, 235.

Patronage, the right of, why established in Scotland, iii. 202–203.

Pay, military, origin and reason of, iii. 49.

Pennsylvania, account of the paper currency there, i. 454.—Good consequences of the government there having no religious establishment, iii. 179; derive a revenue from their paper currency, 393.

People, how divided into productive and unproductive classes, according to the present French system of agricultural political economy, iii. 9; the unproductive class, greatly useful to the others, 16; the great body of, how rendered unwarlike, 53; the different opportunities of education in the different ranks of, 164; the inferior ranks of, the greatest consumers, 312–313; the luxurious expenses of these ranks ought only to be taxed, 314.

Persecution for religious opinions, the true cause of, iii. 172–173.

Peru, the discovery of the silver mines in, occasioned those in Europe to be in a great measure abandoned, i. 260; these mines yield but small profit to the proprietors, 261–262; tax paid to the King of Spain from these mines, 303; the early accounts of the splendor and state of arts in this country, greatly exaggerated, 305–306; present state of, under the Spanish government,