§ 1. Variations in the exchange, which originate in the currency 181 2. Effect of a sudden increase of a metallic currency, or of the sudden creation of bank notes or other substitutes 3. Effect of the increase of an inconvertible paper currency. 3. Reasons for thinking that the Currency Act of 1844 pro- - 5. Should the issue of bank notes be confined to a single 6. Should the holders of notes be protected in any peculiar 216 230 232 § 1. Introductory Remarks 2. Tendency of the progress of society towards increased 257 CHAPTER II. Influence of the Progress of Industry and Population on Values and Prices. § 1. Tendency to a decline of the value and cost of production 264 CHAPTER III. Influence of the Progress of Industry and § 1. First case; population increasing, capital stationary 2. Second case; capital increasing, population stationary.. 3. Third case; population and capital increasing equally, the arts of production stationary... 276 § 1. Doctrine of Adam Smith on the competition of capital. 2. Doctrine of Mr. Wakefield respecting the field of employ- 3. What determines the minimum rate of profit . 4. In opulent countries, profits habitually near to the mini- mum. prevented from reaching it by commercial revulsions by improvements in production. 294 - by the importation of cheap necessaries and instruments 308 - by the emigration of capital. § 1. Abstraction of capital not necessarily a national loss . . 313 2. In opulent countries, the extension of machinery not detri- CHAPTER VI. Of the Stationary State. § 1. Stationary state of wealth and population, dreaded and CHAPTER VII. On the Probable Futurity of the Labouring Classes. 3. Probable effects of improved intelligence in causing a 6. CHAPTER II. Of the General Principles of Taxation. 2. Grounds of the principle of Equality of Taxation CHAPTER III. Of Direct Taxes. § 1. A Tax on all Commodities would fall on profits § 1. Arguments for and against direct taxation. . 2. Not desirable to redeem a national debt by a general con- . |