272 
On lvalue. 
[Sept. 
an avenue to the possession of food, that they submit to the drudgery of working; 
and hence also it is, that their products come to be generally considered, as of 
equal value, at least to the purchasers, as the food which is given in exchange lor 
them. It is contingent, because it is only while the manufacturers supply that 
quantity of things exactly, and no more or less, which the agricultures are eager 
to obtain, that their products are convertible at will into that primary wealth, 
for which, particularly, the manufacturers ever offer a demand. 
It is important to keep in mind the secondary and contingent nature of the 
value attaching to the secondary description of wealth ; because the neglect of this 
consideration subjects us to the errors, regarding the impossibility of over-pro- 
duction, which vitiate the reasonings of M. Say, Mr. Mills, and all their followers. 
For instance ; at the time when agriculturists began to have something to spare 
bevond wliat satisfied themselves; and when other needy classes were .springing 
into being, willing to give wrought products for this excess; if these needy classes, 
knowing no art but that of weaving coarse mats and blankets, continued, when 
once set in this train, to weave these, without any reference to the wants of the 
agriculturists ; it is certain, that these items of wealth would, with the excess of 
supply, lose the greater part of their value ; and that there would be no sufficient 
demand to render them all convertible at will into food.— In this case, can we 
suppose, that the mat makers, and the blanket makers, could, by proceeding 
with, or increasing their exertions, create a reciprocal vent for their respect!' e 
wares; and that the value of these wares would be restored, by their mutually 
bartering their respective products ? Or can we suppose, that the agriculturists, 
already fully supplied with mats and blankets, would, because more mats and blan 
kets were made than they required, set to work, more energetically, to increase 
their agricultural produce? If they did so, it must be from the mere wish to sa\e 
the starving manufacturers ; a motive upon which we are not, 1 apprehend, jus titaea 
in counting. In this case, the mat and blanket makers might double, nay 
treble, their exertions ; and only bring distress more inevitably upon themselves- 
This, to be sure, is a state of things which could not possibly last ; because these 
poor people must inevitably starve; but while it did last, it would be a case of 
production, and loss of contingent value in secondary wealth ; which no effor s 
directed to the further production of secondary wealth could relieve ; andwhic 
carried along with it no inevitable inducement, for that extension of production* 
in primary wealth, which alone could alleviate the existing distress ; but which, 
on the contrary, by enabling the agriculturists to obtain the mats and blankets 
for less than before, would induce them to produce less than before: and so long 
as such a state of things held, mats and blankets would continue valueless. 
I am very well aware, in the more advanced periods of production, when iten> s 
of secondary wealth have assumed almost every possible form, and when habits 
have been engendered, of looking on a vast variety of these, as being essential ; tba 
after production of all kinds has been adjusted, and after the quantities o 
primary and secondary wealth have been nicely adapted each to the other, the* ^ 
can be no loss of value in almost any one item of secondary wealth, unaccompaiU 
ed by a loss of value in the primary wealth presently in hand. But this may 
rather considered a sympathetic affection, proceeding from the closeness of the 
connexion between the two, than from any permanent necessity for the primaO 
wealth losing its value. So long as there exists the same population to consuim 
it, as had been in being before this change was brought about, the value of foo 
must still remain. There would, of course, be a necessity for vast changes in th® 
disposition of society, before a similar population, to that which obtained fo° ( 
in exchange for wrought wares, could obtain it, from the persons raising it, b) 
gift or coercion. Certain it is, however, that secondary wealth might well nigh ce as<? 
to be formed ; and that the value of the primary wealth might be sustained » 
merely by altering the terms on which the agriculturists shall be allowed to cm' 
tivate the soil. In Europe, the land is held by private individuals, who enjoy t * e 
power of dictating to others the extent and nature of the culture which shall b^ 
pursued; the inducements held out, in that quarter of the world, to tempt land ^ 
holders to give up the use of their land, that the greatest quantity of primary 
wealth may be realized for the benefit of society, are the wrought products which, 
in endless variety, are capable of ministering to every conceivable wish or whim • 
the full cultivation, and growth of primary wealth, is there effected through th e 
means of secondary wealth. 
In Asia it is different ; the land belongs to the sovereign, and is given in use 
cultivators, who are permitted to spread over the face of tire country in such 
