Political Economy. 133 
reign trade, will generally come down to their lowest rates-— that 
is, to the rates at which those, who raise it are just compensated 
for their labour, and the investment of their capital. As soon as 
the price of any species of produce falls below this rate, less of 
it will be raised, till it has returned to the usual standard. 
Since, therefore, consumption naturally limits production, it 
is obvious that %vant must take place whenever, from an untoward 
season, or any other cause, the usual crops fail considerably short. 
Consequently we see that all countries, which have little or no fo- 
reign trade, are occasionally subject to famine, with its attending 
train of disease, and horror. An exporting, agricultural country, 
is exempt from this calamity. Raising, generally, more than is 
wanted at home, there will, even in years of scarcity, still be enough 
for domestic consumption.* Le sufierjiu^ as Say expresses it, 
est le gage du necessaire .'f 
An exporting manufacturing country has always extensive 
connections ready formed, and, with the means of purchasing, ea- 
sily supplies itself from abroad on any extraordinary emergen- 
cies. 
A country in which both, agriculture and manufactures, are 
limited by domestic consumption, must be necessarily within the 
reach of the calamities mentioned ; and the more so, the less it% 
territory is extensive, and the less are various its productions, and 
climate. f 
We have already seen that a country, deprived of foreign trade, 
cannot improve to the utmost the advantages peculiar to it. But, 
leaving any natural advantages unimproved, or improving them 
only partially, is a species of luaste. 
A further, and very injurious waste j in a country, relinquish- 
ing the benefits of foreign commerce, would result from the cir- 
cumstances, that the refuse of many descriptions of manufacture, 
could be no longer turned to account ; nor the injurious effects 
on industry, arising from the constant changes in taste, and fashion, 
Let us see how this consists with matter of fact. Great Britain is an im- 
porting and exporting agricultural nation. She gives a bounty on the export 
of grain. She has the most extended foreign trade the world has ever seen. 
France has none. Yet would Great Britain, 2 or 3 years ago been without 
bread to eat, had not her enemy France supplied her with grain to the amount 
of seven millions sterling. T. C. 
f I. B. Say — Tralte D’Economie politique. 
I How does this apply to the United States of America T. G. 
