be produced by an infinity of successive deteriorations of the coins.
All these iniquities are founded on the false idea that money is but a sign, while it is value and a true equivalent of that for which it is given.
Silver being a value, as every other useful thing, we should be allowed to hire it as freely as any other thing.
Exchange, properly so called, is a simple barter of one money for another.
Banking, or the proper office of a banker, consists in enabling you to receive in another city the money which you deliver him in that in which he is.
Bankers render also other services, such as discounting, lending, &c. &c.
All these bankers, exchangers, lenders, discounters, &c. &c. have a great tendency to form themselves into large companies under the pretext of rendering their services on more reasonable terms, but in fact to be paid more dearly for them.
All these privileged companies, after the emission of a great number of notes, end in obtaining authority to refuse payment at sight; and thus forcibly introduce a paper money.
CHAPTER VII.
Reflections on what precedes.
Thus far I believe myself to have followed the best course for the attainment of the object which I propose.
This not being a treatise expressly of political economy, but a treatise on the will, the sequel of one on the understanding, we are not here to expect numerous details, but a rigorous chain of principal propositions.
What we have seen already overturns many important errors.
We have a clear idea of the formation of our riches.
It remains for us to speak of their distribution amongst the members of society, and of their consumption.
CHAPTER VIII.
Of the distribution of our Riches amongst Individuals.
We must now consider man under the relation of the interests of individuals.
The species is strong and powerful, the individual is essentially miserable.
Property and inequality are insuperable conditions of our nature.
Labour, even the least skilful, is a considerable property as long as there are lands not occupied.
It is an error in some writers to have pretended there were non-proprietors.
Divided by many particular interests, we are all re-united by those of proprietors and of consumers.
After agriculture the other arts develop themselves.
Misery commences when they can no longer satisfy the calls for labour, which augment.
The state of great ease is necessarily transitory; the fecundity of the human species is the cause.
CHAPTER IX.
Of the multiplication of Individuals, or of Population.
Man multiplies rapidly wherever he has in abundance the means of existence.
Population never becomes retrograde, nor even stationary, but because these means fail.
Amongst savages it is soon checked, because their means are scanty.
Civilized people have more, they become more numerous in proportion as they have more or less of these means, and make better use of them. But the increase of their population is arrested also.
Then there exists always as many men as can exist.
Then it is also absurd to suppose they can be multiplied otherwise than by multiplying their means of existence.
Then finally it is barbarous to wish it, since they always attain the limits of possibility, beyond which they only extinguish one another.
CHAPTER X.
Consequences and development of the two preceding Chapters.
Let us recollect first, that we all have separate interests, and unequal means.
Secondly. That nevertheless we are all united by the common interests of proprietors and consumers.
Thirdly. That, consequently, there are not in society classes which are constantly enemies to one another.
Society divides itself into two great classes, wage earners and employers.
This second class contains two species of men, namely the idle who live on their revenue.
Their means do not augment.
And the active who join their industry to the capitals they may possess. Having reached a certain term their means augment but little.
The funds on which the stipendiaries live become therefore with time nearly a constant quantity.
Moreover the class of wage earners receives the surplus of all the others.
Thus the extent which that surplus can attain determines that of the total population of which it explains all the variations.
It follows thence that whatever is really useful to the poor, is always really useful to society at large.
As proprietors the poor have an interest, first that property be respected. The preservation even of that which does not belong to them, but from which they are remunerated is important to them. It is just and useful also to leave them masters of their labour, and of their abode.
Secondly. That wages be sufficient. It is of importance also to society that the poor should not be too wretched.
Thirdly. That these wages be steady. Variations in the different branches of industry are an evil. Those in the price of grain are a still greater one. Agricultural people are greatly exposed to the latter. Commercial people are rarely exposed to the former, except through their own fault.
As consumers the poor have an interest that manufacturing should be economical, the means of communication easy, and commercial relations numerous. The simplification of process in the arts, the perfection of method are to them a benefit and not an evil. In this their interest is also that of society in general.
After the opposition of our interests let us examine the inequality of our means.
All inequality is an evil, because it is a mean of injustice.
Let us distinguish the inequality of power from inequality of riches.
Inequality of power is the most grievous. It is that which exists among savages.
