92 REPORT—1849. 
On a Form of Table for Collecting Returns of Prices in Ireland. 
By Prof. W. N. Hancocr, LL.D., M.R.I.A. 
The primary object of the table is to direct attention to the observation of the 
facts which give the most correct indications of the state of the poorer classes. The 
statistical investigations which have been hitherto instituted into the condition of the 
population have been too much directed to quantities, whilst the more important 
observations of values have been neglected. Thus we have the census taken in 
Ireland in the most elaborate manner, showing, not only the number of the popu- 
lation, but the number of the trees, the number of the cattle, and even of the poultry, 
in the country. Then we have returns’ shcewing the sizes of farms ; and the agri- 
cultural returns, showing the number of acres under cultivation for different kinds of 
crops. Now, I do not propose to undervalue these investigations ; but as long as 
these returns are not accompanied by returns of prices, the partial knowledge deduced 
from them is likely to mislead. Thus, the most mistaken propositions have been 
stated as to over-population, from considering the population tables without re- 
ference to the rate of wages. Specious theories have with equal boldness been put 
forward as to the size of farms, from considering the land returns without any refer- 
ence to the rent obtained from farms of different sizes. As to capital, again, we have 
had the boldest assertions respecting its want or abundance, arising from a consider- 
ation of the quantity of money in circulation, the deposits in the savings’ banks, or 
some other quantity of capital, without any reference to the rate of profit. In like 
manner we have been told that there is no hope for a nation which lives on potatoes, 
or that the salvation of Ireland depends on the intreduction of green crops, or of flax, 
without any scientific investigation of the average prices of such crops, or of the rent 
which they will produce. But economic science teaches us the real facts from which 
the condition of a population can be ascertained, and the advantage of different 
systems of management compared ; and this table is constructed for the purpose of 
having these facts observed. If we want to compare the condition of the labourer 
in Connaught with that of the labourer in Ulster, in Scotland, in England, or in 
America, what do we require toknow? Why, two sets of facts. First, what are the 
money wages or price of labour in Connaught as compared with the money wages 
or price of labour in one of the other places. Secondly, what are the prices of the 
commodities consumed by the labourer in Connaught as compared with the prices of 
the same commodities in other places? From these we can at once determine the re- 
lative condition of labourers at different places at the same time; and by simjlar inves- 
tigations we can compare the condition of the labouring classes at different times in the 
same place. Thus, if we ascertain that the average price of agricultural labour is in 
Connaught 64,, in Ulster 10d., in Scotland 1s. 4d., in England 1s. 8d., and in America 
3s., whilst the prices of the commodities consumed by the labourer do not, on an 
average, rise in the same proportion, we see at once that the labourers in America 
are better off than those in England, who are again better off than those in Scotland, 
whilst the Scotch are better off than the Ulstermen, and they than the Connaught- 
men. But the observations for which the table is constructed would, if systematically 
pursued, serve a scientific purpose of far greater importance. They would enable us 
to perfect the principles of economic science, and place them on a firm and lasting 
basis, by applying to them, more extensively and systematically than has been hitherto 
done, the inductive method of reasoning which has led to such wonderful results in 
the natural sciences ; for observations of changes in values and prices are to the eco- 
nomist what observations of the movements of the heavenly bodies are to the astro- 
nomer—at once the facts to be explained, and the facts by which the truth or 
falsehood of his theories can be tested. The following is the form of the table :— 
It is headed with the name of the place where the observations are made; as the 
prices of different articles of wealth vary from place to place, it is necessary in all 
observations of prices, to note the place where the observations are made, Then, 
the prices to be observed are divided into six classes :—1. The price of labour, or 
rate of wages; 2. The price of the use of capital, or rate of profit ; 3. The price of 
the use of land, or land-rent ; 4. The price of food; 5. The price of fuel; 6. The 
price of other agricultural produce. Under each of these heads a sufficient number 
of kinds of each class are selected to be observed. ‘Thus, under the first class we 
have—]. Agricultural labourers ; 2. Weavers; 3. Carpenters ; 4. Smiths; 5. Tailors; 
