Essays on Political Economy eBook

Frédéric Bastiat
This eBook from the Gutenberg Project consists of approximately 213 pages of information about Essays on Political Economy.

Essays on Political Economy eBook

Frédéric Bastiat
This eBook from the Gutenberg Project consists of approximately 213 pages of information about Essays on Political Economy.
is true of each must be true of all.  We should, therefore, all of us gain more, at the end of the game, if we all had more counters.  Now, nothing can be easier; we have only to distribute twice the number.”  This was done; but when the game was finished, and they came to adjust the winnings, it was found that the thousand francs under the candlestick had not been miraculously multiplied, according to the general expectation.  They had to be divided accordingly, and the only result obtained (chimerical enough) was this;—­every one had, it is true, his double number of counters, but every counter, instead of corresponding to ten francs, only represented five.  Thus it was clearly shown, that what is true of each, is not always true of all.

B. I see; you are supposing a general increase of counters, without a corresponding increase of the sum placed under the candlestick.

F. And you are supposing a general increase of crowns, without a corresponding increase of things, the exchange of which is facilitated by these crowns.

B. Do you compare the crowns to counters?

F. In any other point of view, certainly not; but in the case you place before me, and which I have to argue against, I do.  Remark one thing.  In order that there be a general increase of crowns in a country, this country must have mines, or its commerce must be such as to give useful things in exchange for cash.  Apart from these two circumstances, a universal increase is impossible, the crowns only changing hands; and in this case, although it may be very true that each one, taken individually, is richer in proportion to the number of crowns that he has, we cannot draw the inference which you drew just now, because a crown more in one purse implies necessarily a crown less in some other.  It is the same as with your comparison of the middle height.  If each of us grew only at the expense of others, it would be very true of each, taken individually, that he would be a taller man if he had the chance, but this would never be true of the whole taken collectively.

B. Be it so:  but, in the two suppositions that you have made, the increase is real, and you must allow that I am right.

F. To a certain point, gold and silver have a value.  To obtain this, men consent to give useful things which have a value also.  When, therefore, there are mines in a country, if that country obtains from them sufficient gold to purchase a useful thing from abroad—­a locomotive, for instance—­it enriches itself with all the enjoyments which a locomotive can procure, exactly as if the machine had been made at home.  The question is, whether it spends more efforts in the former proceeding than in the latter?  For if it did not export this gold, it would depreciate, and something worse would happen than what you see in California, for there, at least, the precious metals are used to buy useful things made elsewhere.  Nevertheless, there is still a danger that they may

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Essays on Political Economy from Project Gutenberg. Public domain.