148 
Political Economy. 
The cause of foreign trade might also be pleaded, by leaving 
all, that I have said, unnoticed, and taking up the question, on the 
ground on which you have yourself placed it. 
“ Where is the great source,” you ask, in speaking of Great 
Britain, “ of the wealth of that powerful, and wealthy country ? It 
is ill her spirited agriculture,” you answer; in 100 millions 
“ sterling of farming capital, permanently laid out in buildings, in 
fences, in roads, in canals, in machines. In 50 millions more, 
annually expended in manures, in repairs, in exuberant cultiva- 
“ tion. Here is the secret of 24 bushels of wheat per acre in Eng- 
land, 16 in France, and 10 in this country.” 
But, according to your own statement the bare mercantile profits, 
arising from the foreign trade of Great Britain, and Ireland, amount 
to three millions and a half of pounds sterling per annum*. 
Consequently the bare mercantile profits of the foreign com- 
merce of the British empire, with a simple accumulation of only 
five per cent, per annum, will produce, in the space of nineteen 
years, more than the whole, fixed, agricultural capital of England.^ 
In other words — if the mercantile profits, accruing to Great 
Britain and Ireland from their foreign trade, were every year put 
out at 5 per cent, interest— they would produce, in the short space 
of nineteen years, a sum more than sufficient to stock, with the 
means of wealth, and — of home trade if you please — such another 
country as England, in a manner equally ample as she is now 
stocked herself. 
The bare mercantile profits, resulting from the foreign trade, 
re-produce, that is, double, the whole fixed agricultural capital 
of England in less than nineteen years. 
Nay, before they become thus consolidated, and fixed, they 
will, if their circulation is ra/iidj be more than sufficient to cover 
the annual expenditure of 50 millions sterling for manures, repairs j 
and exuberant cultivation. 
Thus, on the face of your own statement, the secret of the se^ 
cret^ is the foreign trade. 
In the prosecution of your arguments against foreign com- 
* And what is the agricultural capital doing all this time ? Is it dosing dur«. 
ing these 19 years ? This mode of reasoning will prove any dbing. But it is 
double edged. If the home capital be tenfold greater than the capital of the 
foreign irade» and this last will earn so large a sum in 19 years, the other will 
earn ten times that sum. 1\ C. 
