Letters To Mr. Malthus On Several Subjects Of Political Economy And On The Cause Of The Stagnation Of Commerce, To Which Is Added A Catechism Of Political Economy; Or, Familiar Conversations On The Manner In Which Wealth Is Produced, Distributed, And Consumed In Society.

Jean-Baptiste Say LETTERS TO MR. MALTHUS On Several Subjects Of POLITICAL ECONOMY And On The Cause Of The STAGNATION OF COMMERCE To Which Is Added A CATECHISM OF POLITICAL ECONOMY OR FAMILIAR CONVERSATIONS On The Manner In Which Wealth Is Produced Distributed And Consumed In Society Translated by JOHN RICHTER f18211 (K REPRINTS OF ECONOMIC CLASSICS AUGUSTUS M. KELLEY • PUBLISHERS NEW YORK -1967 First Edition 1821 (London: Sherwood, Neely & Jones, Paternoster Row, 1821) Reprinted 1967 by Augustus M. Kelley * Publishers Library of Congress Catalogue Card Number 65-26378 PHINTED IN THE UNITED STATES OF AMERICA by SENTRY PRESS, NEW YORK, N. Y. I O O I O , LETTERS TO MR. MALTHUS. BY J. B. SAY. LETTERS TO MR. MALTHUS, ON SEVERAL SUBJECTS OF POLITICAL ECONOMY, AND ON THE CAUSE OF THE STAGNATION OF COMMERCE. TO WHICH IS ADDED Catcrijism of political Cconomy, OR FAMILIAR CONVERSATIONS ON THE MANNER IN WHICH WEALTH IS PRODUCED, DISTRIBUTED, AND CONSUMED IN SOCIETY. from tfje tfrencjj of J. B. SAY, BY JOHN RICHTER. LONDON: PRINTED FOR SHERWOOD, NEELY, AND JONES, PATERNOSTER-ROW. 1821. PREFACE. T H E science of Political Economy is at once one of the most important and interesting to mankind. It has in the course of a few years made great progress, and has attracted the attention and become the study of a considerable portion of the enlightened part of the public. Every attempt therefore to elucidate the subject of it will be kindly received, more particularly as a general knowledge of its principles cannot fail to produce incalculable advantages to the world. Mr. Say was the first writer who attempted to raise Political Economy to the rank of the exact sciences :—how he has succeeded the public have the means of appreciating; posterity will decide. Until the appearance of the Traite d'Economie Politique, it had been limited to theories drawn from partial views of isolated facts and statistical histories, and from circumstances which it was always uncertain whether they had been fully observed or contemplated. No attempt was made to define the true nature of production, and to consi- VI PREFACE. der the thing in itself—to form just ideas on this subject; and, following them to their remotest consequences, to establish such a basis as should prove a true guide under every circumstance. Mr. Say had most clearly shewn that markets for commodities are created by and depend upon the production of commodities which can only be purchased by producers, or their representatives—not by unproductive consumers. Mr. Maithus, in his Principles of Political Economy, and particularly in treating of the causes of the general stagnation of trade, has controverted this doctrine, together with some of \\\e best established principles of the science. In these letters Mr. Say has entered the field of controversy—whether he will have added to his high reputation as a political economist, or Mr. Maithus will have disappointed the admirers of his Essay on Population, the public cannot fail to be benefitted by the discussion. When the great truths of Political Economy shall become generally known—when men shall be convinced that each person will sell with greater facility the more others gain; that they can only gain by means of labour, capital, or land; that the greater the number of producers the greater the number of consumers ; that unproductive consumers are mere representatives of others, and can only consume by means of what others produce; that all nations are interested in the prosperity of each other, and in facilitating the means of com- PREFACE. vii munication; that capi