198 



CHAP. II. 



General Obfervalions^ on the preference of one Manufa6lure io another. 



Sect. i. 



A limited Capital fhould not embrace too many ObjeSls at once. 



9 



To attempt prematurely, without a fufficient capital, to carry on agri- 

 culture, manufaftures, and exports, all at once, is not the (hortefl: way, 

 for a fociety, any more than individual, to acquire opulence. The ca- 

 pital of all the individuals in a nation has limits, in the fame manner 

 as that of a fingle individual ; and is capable of executing only certain 

 purpofes. The capital of all is increafed, in the fame manner, with tha' 

 of a fmgle perfon, by the accumulation of favings. It is likely to en- 

 creafe fader, when employed in that way, which yields the greateft 

 revenue to all the individuals of the country. The principal caufe of 

 the rapid progrefs of the American colonies, to wealth and greatnefs, 

 is, that almoft the whole capitals have been hitherto employed in agri- 

 culture. 



When we talk of plans for the improvement of manufaftures, and 

 the encouragement of induftry ; we ought to confider, as well the 

 wants and deficiencies, as the natural advantages and refources of the 

 country. A flriking deficiency under which Ireland, at prefcnt labours, 

 is the want of capital, * a want, which fliould teach the political eco- 

 nomift, to be moderate in his fpeculations, and to proceed with caution 



to 



* I was much furprifed to find a 'ate writer on the manufaflures of Ireland aflert 

 tlut want of capital is not one of the difadfantages of Ireland; this is a new difcovery. 



