Page:William Petty - Economic Writings (1899) vol 1.djvu/290

192 Their Fewel is Turf in most places; and of late, even where Wood is most plentiful, and to be had for nothing, the cutting and carriage of the Turf being more easy than that of Wood. But to return from whence I digressed, I may say, That the Trade of Ireland, among $19/22$ parts of the whole people, is little or nothing, excepting for the Tobacco abovementioned, estimated worth about 50,000 l. for as much as they do not need any Forreign Commodities, nor scarce any thing made out of their own Village. Nor is above $1/5$ part of their Expence other than what their own Family produceth, which Condition and state of living cannot beget Trade.

And now I shall digress again to consider, whether it were better for the Common-wealth to restrain the expence of 150 M. Optimates below 10 l. per Ann. each; or |83| to beget a luxury in the 950 M. Plebeians, so as to make them spend, and consequently earn double to what they at present do.

To which I answer in brief. That the one shall encrease the sordidness and squallor of living already too visible in 950 M. Plebeians, with little benefit to the Common Wealth; the other shall increase the splendor, Art and Industry of the 950 M. to the great enrichment of the Common-Wealth.

Again, Why should we be forbid the use of any Foreign Commodity, which our own Hands and Countrey cannot produce, when we can employ our spare Hands and Lands upon such exportable Commodities as will purchase the same, and more.

3. The keeping or lessening of money, is not of that consequence that many guess it to be of. For in most places, especially Ireland, nay, England it self, the Money of the whole Nation is but about $1/10$ of the Expence of one Year; viz. Ireland is thought to have about 400 M.l. in Cash, and to spend about 4 Millions per Ann. Wherefore it is very ill-husbandry to double the Cash of the Nation, by destroying half its Wealth; Or to increase the Cash otherwise |84| than by increasing the Wealth simul & semel.

That is, when the Nation hath $1/10$ more Cash, I require it