Ch. vii. Conlinuation of tJic same Subject. 329 



of humanity can doubt. But that such a state of 

 things may occur in the best- conducted and most 

 economical government that ever existed is as 

 certain, as that governments have not the power 

 of commandinsr vf'iih. effect the resources of a 

 country to be progressive, when they are naturally 

 stationary or declining. 



It will be allowed that periods of prosperity 

 may occur in any well-governed state, during 

 which an extraordinary stimulus may be given to 

 its wealth and population, which cannot in its na- 

 ture be permanent. If, for instance, new channels 

 of trade are opened, new colonies are possessed, 

 new inventions take place in machinery, and new 

 and great improvements are made in agriculture, 

 it is quite obvious that while the markets at home 

 and abroad will readily take off at advantageous 

 prices the increasing produce, there must be a 

 rapid increase of capital, and an unusual stimulus 

 given to the population. On the other hand, if 

 subsequently these channels of trade are either 

 closed by accident, or contracted by foreign com- 

 petition ; if colonies are lost, or the same produce 

 is supplied from other quarters ; if the markets, 

 either from glut or competition, cease to extend 

 with the extension of the new machinery ; and if 

 the improvements in agriculture from any cause 

 whatever cease to be progressive, it is as obvious 

 that, just at the time when the stimulus to popu- 

 lation has produced its greatest etfect, the means 

 of employing and supporting this population may, 

 in the natural course of things, and without any 



