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The Pamphlet Collection of Sir Robert Stout: Volume 84

Political-Econo-Money-Mania

page 11

Political-Econo-Money-Mania.

The Political Econo-Money-Mania of the United Kingdom teaches :—
1st.That it is one of heaven's immutable laws that merchants shall be able to buy in those markets where the least money will buy the greatest quantity, and to sell in those markets where the least merchandize will sell for the most money. So that merchants may make much money.
2ndly.That merchants must not be taxed on the corn and meat which they import, as this would restrict the trade of the United Kingdom. Which would hinder merchants from making so much money.
3rdly.That farmers must be taxed on the corn and meat they produce, as somebody must pay taxes (and of course, as everybody knows, the taxes which farmers pay all come out of the land"), and that it does not signify at all about restricting the agriculture of the United Kingdom, as that is simply' "a farmer's question."
4thly.That it is a great benefit to the United Kingdom that her foreign trade (that is, the value of her imports and exports added together) should increase, irrespective as to the fact whether the balance of trade is in her favour or against her. Political-Econo-Money-Maniacs agree with Napoleon's saying, that England is a nation of shopkeepers; therefore, what is good for the merchants must be good for the nation, and merchants make as much money out of imports as out of exports.
5thly.That it is impossible that the balances of trade against the United Kingdom should be paid in money, because the amounts are too great. For instance, in the year 1882 her imports exceeded her exports to the value of £160,000,000, whereas the value of all the gold and silver in every shape in the United Kingdom does not amount to so much money.
7thly.That as the United Kingdom has not enough gold and silver to pay one such year's balance of trade against her as that of 1882, and as her present income from foreign investments only yields about £60,000,000 per annum, it is desirable that she should lend so much more paper money to the colonies and to foreign countries as will increase her income by at least £100,000,000 per annum.