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redundant creations of wealth by the entire community. 
Whenever wealth does accumulate in a nation, the annual 
production of it must, to that extent, be in excess of the 
entire consumption by its people ; and this after defraying 
all costs of its distribution or trading costs. It is not the 
sum of wealth produced, but its surplus over consumption, 
which decides the question as to whether a nation gains or 
loses in respect to its national wealth. For example, the 
aggregate products from the land and labour of India , with 
her 150 millions of people, must be enormous, and yet India 
is a poor country, because the productions of her people are 
barely sufficient to feed, clothe, and lodge them in a sta- 
tionary condition. In fact her wealth has been declining for 
ages past, by natural decay, because of the near balance 
between the production and consumption of her people. I 
here pass by the causes of limited production, as also those 
of their high cast appropriation, so destructive to all 
classes. Whilst on the other hand the produce of a small 
state or community may far exceed its consumption, and 
thus become a rich state, by reason of the continually ac- 
cumulating surplus which becomes, in some way, fixed 
National Wealth. Whether it be placed in a useful form or 
not, will of course depend on the wisdom or folly of the 
rulers or guides of public opinion. With respect to Com- 
merce, it is evident that if the foreign consumers of our 
surplus — say of cotton goods, woollens, hardwares, potteries, 
and the like, would bring to our doors the produce of their 
land and labour, and take back, in exchange, the same goods 
that they now accept from us, when sent at our ex- 
pense to their doors, we should, in such cases, be gainers to 
the extent of the merchant’s charges and profits over and 
above the present trade profits in our dealings with foreign 
customers : In all cases the articles purchased by us — such 
as food and raw materials — whether brought to our doors 
or sent for from the places of production, would always be 
