ACHENWALL, 160 n.
Agricultural improvements, effects
of, 76

Agricultural produce, value of, 106,

IIO

Agricultural system, 15
Agriculture, condition of, in Adam
Smith's time, 5

subsequent improvements

in, 51, 62
Allowances, 41-43
Amsterdam, Bank of, 146

Anderson, Dr., 71

Arithmetical ratio, 46

Bank-notes, issue of, 147-149, 153
Bank of England, accounts of, 169
history of, 146, 148, 149
the keeper of the cash-
reserve, 144, 145, 152-157
Barter, 24

Bentham, Jeremy, 64, 91
Bill-brokers, 143, 151, 157
Bills of mortality, 162
Block, M., quoted, 160
Bonar, Mr. James, quoted, 37
Buchanan, David, quoted, 75

Cairnes, John Elliott, 118-125,
100, 102-105, 116, 128-130,
178, 179

quoted, 186-188, 194
Carey, 78, 84

Carlyle, and Political Economy,
177

Cash-reserve, 144-157

Census, date of the first, 162
Child, Sir Josiah, 31 n.

City-men,' assumed by Ricardo,
131

known by Bagehot, 136
Clearing-house, The, 145
Coal Question, The, 165
Colonial policy of Adam Smith's
time, 7

Commerce, era of the 'great,' 140
-142, 149

Commercial crises, 149-154

recurrence of, 170—2
Communication, deficient means of,
in Adam Smith's time, 7

*

means of, 51, 52, 62, 79

Competition, 10, 101, 190, 192
Competition, commercial, 102
Competition, industrial, 102, 120
Competition, Ricardo's assumption
of, 64, 65, 80
Comte, 130
Condorcet, 38, 47
Co-operation, 10, 180, 194
Co-operation, complex, 18
Co-operation, simple, 18
Corn Laws, The, 43, 50
Cost of Carriage, 113
Cost of production, 69, 102-114,

121

Cournot, quoted, 159
Credit, 150-152, 170
'Credit contrivances,' 124
Cunningham, Dr. W., 132
Curves of prices, 168, 169

Deductive method, 125-130
'Degradation of labour,' 60
Demand, 107-114
Demand, extension of, III
Demand, rise of, III
'Desire of wealth,' 127, 129
Difficulty of attainment, 107
Diminishing returns, law of, 44,
49-55, 72, 74, 83, 106, 190, 191
Discount, raising rate of, 154-157
Discounting bills, 151
Distribution of wealth, distinguished
from production, 95, 128

Ricardo's treatment of, 65,

76
Division of labour, 16—24, 50, 77,
83, 191

'between nations,' 29
'territorial,' 30 n., 123

Index numbers, 172—174

Maine, Sir H., and the historical
method, 126

65, 68, 70, 117, 140, 178, 190,

195

quoted, 64, 162

Manufactured articles, and index
numbers, 173

124

and the gold discoveries,

value of, 106, 110, III

'Manufacturer,' meaning of the
word, 5, 6

Manufacturing industry, in Adam
Smith's time, 5

subsequent changes in, 62

Marginal dose of capital, 82

100, 107, 121, 179

quoted, 116

Jones, Richard, 64

Laissez-faire, II, 91, 194

106, III

Marginal utility, 107-114
Market, definition of, 100

Markets, mechanism of, 24
Market price, 101

Marshall, Professor, 100, 117

vation of, 78

nationalisation of, 82

'natural fertility' of, and

rent, 74, 79, 82

-no-rent, 81-84

'original and indestruc-

tible powers' of, 71, 74, 84
urban, 85

Laws, economic, 95, 188
Legal tender, 152

quoted, 13, 19, 21 n., 68,

129, 159, 186

Marx, Karl, 69

Maximum legal rate of interest, 131
McCulloch, J. R., 65

Measure of value, 26
Medium of exchange, 26

Mercantile system, The, II, 15,
27, 31, 32

48, 55-60

Price, definition of, 100

Production of wealth, as dis-
tinguished from distribution, 95,
128

Profits, component parts of, 103
105

Profits, normal, 103

Profi's and rent, 71, 76, 84, 85
Protection, 33

Malthus on, 39
'Protection,' 'natural,' 30, 83

Rarity, articles of, value of, 106,
109

Rent and profits, 71, 76, 84, 85
Rent, economic, 84, 85
Rent, popular sense of, 71, 84, 85
strict sense of, 71, 84, 85
the theory of, 70-86
Ricardo, David, 61-86, 38, 40,
96, 100, 116, 117, 131, 133, 140,
178, 190

Rogers, Professor J. E. Thorold,
166

Roscher, Professor, 132
Rousseau, 36

Ryot, Indian, 81

Slavery, 122, 123

Slave Power, The, 119, 122, 123
178

48,

Smith, Adam, 1-34, 40, 42,
71, 97, 100, 117, 140, 178, 189,
192

quoted, 43, 75, 146, 162
Socialism, and Malthus, 59
and Ricardo, 69
'Continental' 195, 196
of St. Simonian school

and Mill, 95, 97
Radical, 196
Tory, 196

Social phenomena, interdependence
of, 128, 130
Social Reform, 177—196
Social science, 128, 130
'Solvency-meter,' a banker as 'a
kind of,' 150
Speenhamland, meeting of Berk-
shire magistrates at, 42
Standard of comfort, 59, 60, 191
Statistics, 160-176

used by Malthus, 47
Steam-engine, invention of, 62
Stewart, Sir James, 48
Supply, 102-114

'Sun-spots,' and commercial crises,
171

Taxation, Adam Smith's maxims
of, 15, 16

'Theory of business,' the, 135, 140
Theory, use of, 129, 135
Thornton, W. T., 116
Tooke, Thomas, 173 n.
Torrens, Colonel, quoted, 30 n.
Toynbee, Arnold, 183-196
-quoted, 6 n., 7
Toynbee Hall, 186 n.
Trade-corporations, 6, 8, 24
Trades Unions, 10, 194
Transferability of capital, 141

BRAR

OF. THE