oe 
does not determine in what national wealth 
truly confifts, but eftimates the value of 
whatever paffes under this name, and dif- 
tinguifhes the proportions in which the 
_€omponent articles may be applied to pur- 
pofes conducive tothe fafety or profperity 
ef the community. 
It is evident that in the application of 
arithmetic to the fubjeéts of political ceco- 
homy, it mu‘t lofe much «f its precifion, 
from the fluétuating nature of moft de- 
{criptions of property, both with refpe& to 
diftribution and value, the ftate of which 
it is one of its chief objects to eftimate ; it 
however retains a fufficient degree of cer- 
tainty to become an interefting fubje& to 
every individual who wifhes to acquire a 
joa idea of the ftrength and refources either 
of the community to which he belongs, or 
of other fates; while it offers many 
fubjects for refle&tion, and furnifhs the 
fiate{man with much important informa. 
tion. 
If the particulars which it is neceflary 
to affume as fa&ts, could be obtained cor- 
re€t, the conclufions drawn from them 
would be nearly as determinate and inva- 
riable as inany other branch of arithmetic : 
but if the former are not ftri€tly true, the 
latter will be but approximations, how- 
ever near they may come to the truth. 
Such approximations, however, may be 
fuificient for moft ufeful purpofes, though 
it muft be confeffed that a greater degree 
of certainty, which would render our know- 
ledge on this fubjeét more valuable, is 
very defirable ; at the fame time it is diffi- 
cult to attain, as it does not depend fo 
much on the labours or inveftigations of 
individuals, as on the meafures adopted by 
the governments of different countries, 
who alone poffefs the means of afceriaining, 
with greater precifion, the principal af- 
fumptions on which political computations 
are founded. 
The ftrict amount of the wealth of a 
country cannot be known without an exa& 
inventory of all the particulars that com- 
pofe it, a thing utterly impra&icable in 
large, and particularly in commercial, 
Rates, and which, if it were poffible to 
obtain perfectly true, even in the mott mi- 
nute particulars, would not remain fo 
during the time neceflary to make out the 
account, and therefore might not be of more 
utility than a tolerable corre& effimare, 
which, being confidered as a medium be- 
tween {mall variations, will, for a con- 
fiderable time, furnith fufficient ground for 
weful conclufions. So far, indeed, are 
we from having exact accounts of the 
wealth of different countries, that even 
Mr. Grellier on the National Wealth. 
fuch of the materials neceffary to form an 
eftimate as we do poffe's, though furnifhed 
purfuant to leg flative authority, are {carce 
in any inftance ttriétly correct; and being 
generally formed for particular purpofes, 
are frequently 11] adapred to any other 
ufe: from fuch documents, however, we 
muft be content to draw our principal in- 
formation; and if the nature of the fub- 
ject precludes demonfiration, we may at 
leaft endeavour, by proceeding on rational 
grounds, to arrive at conclufions confiftent 
with probability.* 
In endeavouring to determine the in- 
creafe and prefent ftate of the national 
wealth of Great Britain, it will be confi- 
dered as confifting in the value of the 
LAND and of ftock, the latter term com- 
prehending all ufcful realizations of past 
induftry, except improvemen's of the foil, 
which make part of the prefent value of 
land; and if the amount of the national 
capital can be afcertained, it will naturally 
lead to an inveltigation of the general iz- 
come, both as aribng from fuch capital, 
and from the profits of labour; but as in 
all inquiries of this kind, the ftate of the 
population of the country is an object of 
principal importance, it will be neceffary 
to take a fhort view of this ditputed fub- 
ject. 
* The Earl of Lauderdale, in his Plan for 
altering the manner of celleG?ing a large part of 
the Public Revenue, remarks, that ** There are 
many attempts to calculate, or rather to guefs 
at, the amount both of the capital and ins 
come of the country ; but all of them pros 
ceed fo much upon conjecture, and are fo 
loofe and vague, that there can be no reliance 
upon them.” ‘This general cenfure of all the 
valuations that have been formed of the 
amount of the national capital and income, 
though it by no means encourages fimilar at- 
tempts, implies there is much room for im- 
provement in the mode of forming fuch ef- 
timates ; and as the fubject is certainly of a 
more determinate nature than many refpedt- 
ing which an approach to truth is not thought 
impoffible, there feems to be no reafon that 
an endeavour fhould not be made to attain a 
greater degree of correctnefs. It is by no 
means prefumed that the following eftimate 
is free from objeétions ; fome of the parti- 
culars, it muft be acknowledged, reft on evi- 
dence too indireé&t or defective ; and in feveral 
inftances, the defire of avoiding exaggeration 
has caufed the numbers to be ftated rather 
below what the authority on which they are 
founded feemed to warrant, If, however, it 
appears to be formed on rational principles, it 
may be improved by thole who poffefs more 
corre& information on any of the fubjetts 
which it embraces. 
It 
