第1章

ChapterI

IntroductoryInthepresentconditionofPoliticalEconomy，theproductionofnewdogmatictreatisesonthesubjectdoesnotappeartobe

opportune。Therearemanyworks，accessibletoeveryone，inwhich，withmoreorlessofvariationindetails，whatisknown

asthe"orthodox"or"classical"systemisexpounded。ButthereexistsinEnglandandothercountrieswidespread

dissatisfactionwiththatsystem，andmuchdifferenceofopinionwithrespectbothtothemethodandthedoctrinesof

EconomicScience。Thereis，infact，goodreasontobelievethatthisdepartmentofsocialtheoryhasenteredonatransition

stage，andisdestinederelongtoundergoaconsiderabletransformation。Butthenewbodyofthoughtwhichwillreplace，or

atleastprofoundlymodify，theold，hasnotyetbeenfullyelaborated。Theattitudeofmindwhichthesecircumstancesseem

toprescribeisthatofpauseandretrospection。Itisthoughtthatourpositionwillberenderedclearerandourfurther

progressfacilitatedbytracinghistorically，andfromageneralpointofview，thecourseofspeculationregardingeconomic

phenomena，andcontemplatingthesuccessiveformsofopinionconcedingtheminrelationtotheperiodsatwhichtheywere

respectivelyevolved。Andthisisthetaskundertakeninthefollowingpages。

Suchastudyisinharmonywiththebestintellectualtendenciesofourage，whichis，morethananythingelse，characterised

bytheuniversalsupremacyofthehistoricalspirit。Tosuchadegreehasthisspiritpermeatedallourmodesofthinking，that

withrespecttoeverybranchofknowledge，nolessthanwithrespecttoeveryinstitutionandeveryformofhumanactivity，

wealmostinstinctivelyask，notmerelywhatisitsexistingcondition，butwhatwereitsearliestdiscoverablegerms，andwhat

hasbeenthecourseofitsdevelopment？TheassertionofJ。B。Say（1）thatthehistoryofPoliticalEconomyisoflittlevalue，

beingforthemostpartarecordofabsurdandjustlyexplodedopinions，belongstoasystemofideasalreadyobsolete，and

requiresatthepresenttimenoformalrefutation。（2）Itdeservesnoticeonlyasremindingusthatwemustdiscriminate

betweenhistoryandantiquarianism:whatfromthefirsthadnosignificanceitismerepedantrytostudynow。Weneed

concernourselvesonlywiththosemodesofthinkingwhichhaveprevailedlargelyandseriouslyinfluencedpracticeinthe

past，orinwhichwecandiscovertherootsofthepresentandthefuture。

Whenwethusplaceourselvesatthepointofviewofhistory，itbecomesunnecessarytodiscussthedefinitionofPolitical

Economy，ortoenlargeonitsmethod，attheoutset。Itwillsufficetoconceiveitasthetheoryofsocialwealth，ortoaccept

provisionallySay’sdefinition，whichmakesitthescienceoftheproduction，distribution，andconsumptionofwealth。Any

supplementaryideaswhichrequiretobetakenintoaccountwillbesuggestedintheprogressofoursurvey，andthe

determinationofthepropermethodofeconomicresearchwillbetreatedasoneoftheprincipalresultsofthehistorical

evolutionofthescience。

ThehistoryofPoliticalEconomymustofcoursebedistinguishedfromtheeconomichistoryofmankind，orofanyseparate

portionofourrace。Thestudyofthesuccessionofeconomicfactsthemselvesisonething;thestudyofthesuccessionof

theoreticideasconcerningthefactsisanother。Anditiswiththelatteralonethatweareheredirectlyconcerned。Butthese

twobranchesofresearch，thoughdistinct，yetstandintheclosestrelationtoeachother。Theriseandtheformofeconomic

doctrineshavebeenlargelyconditionedbythepracticalsituation，needs，andtendenciesofthecorrespondingepochs。With

eachimportantsocialchangeneweconomicquestionshavepresentedthemselves;andthetheoriesprevailingineachperiod

haveowedmuchoftheirinfluencetothefactthattheyseemedtooffersolutionsoftheurgentproblemsoftheage。Again，

everythinker，howeverinsomerespectshemaystandaboveorbeforehiscontemporaries，isyetachildofhistime，and

cannotbeisolatedfromthesocialmediuminwhichhelivesandmoves。Hewillnecessarilybeaffectedbythecircumstances

whichsurroundhim，andinparticularbythepracticalexigenciesofwhichhisfellowsfeelthestrain。Thisconnectionof

theorywithpracticehaSitsadvantagesanditsdangers。Ittendstogivearealandpositivecharactertotheoreticinquiry;but

itmayalsobeexpectedtoproduceexaggerationsin’doctrine，tolendundueprominencetoparticularsidesofthetruth，and

tocausetransitorysituationsortemporaryexpedientstoberegardedasuniversallynormalconditions。

Thereareotherrelationswhichwemustnotoverlookintracingtheprogressofeconomicopinion。Theseveralbranchesof

thescienceofsocietyaresocloselyconnectedthatthehistoryofnooneofthemcanwithperfectrationalitybetreated

apart，thoughsuchatreatmentisrecommended——indeednecessitated——bypracticalutility。Themovementofeconomic

thoughtisconstantlyandpowerfullyaffectedbytheprevalentmodeofthinking，andeventhehabitualtoneofsentiment，on

socialsubjectsgenerally。Alltheintellectualmanifestationsofaperiodinrelationtohumanquestionshaveakindred

character，andbearacertainstampofhomogeneity，whichisvaguelypresenttoourmindswhenwespeakofthespiritofthe

age，Socialspeculationagain，andeconomicresearchasonebranchofit，isboththroughitsphilosophicmethodandthrough

itsdoctrineundertheinfluenceofthescienceswhichintheorderofdevelopmentprecedethesocial，especiallyofthe

scienceoforganicnature。

Itisofthehighestimportancetobearinmindtheseseveralrelationsofeconomicresearchbothtoexternalcircumstanceand

tootherspheresofcontemporarythought，becausebykeepingtheminviewweshallbeledtoformlessabsoluteand

thereforejusterestimatesofthesuccessivephasesofopinion。Insteadofmerelypraisingorblamingtheseaccordingtothe

degreesoftheiraccordancewithapredeterminedstandardofdoctrine，weshallviewthemaselementsinanorderedseries，

tobestudiedmainlywithrespecttotheirfiliation，theiropportuneness，andtheirinfluences。Weshallnotregardeachnew

stepinthistheoreticdevelopmentasimplyinganunconditionalnegationofearlierviews，whichoftenhadarelative

justification，resting，astheydid，onareal，thoughnarrower，basisofexperience，orassumingtheexistenceofadifferent

socialorder。Norshallweconsiderallthetheoreticpositionsnowoccupiedasdefinitive;forthepracticalsystemoflife

whichtheytacitlyassumeisitselfsusceptibleofchange，anddestined，withoutdoubt，moreorlesstoundergoit。Withinthe

limitsofasketchlikethepresenttheseconsiderationscannotbefullyworkedout;butaneffortwillbemadetokeepthemin

view，andtomarktherelationshereindicatedwherevertheirinfluenceisspeciallyimportantorinteresting。

Theparticularsituationandtendenciesoftheseveralthinkerswhosenamesareassociatedwitheconomicdoctrineshave，of

course，modifiedinagreaterorlessdegreethespiritorformofthosedoctrines。Theirrelationtospecialpredecessors，their

nativetemperament，theirearlytraining，theirreligiousprepossessionsandpoliticalpartialities，haveallhadtheireffects。To

theseweshallinsomeremarkableinstancesdirectattention;but，inthemain，theyare，forourpresentpurpose，secondary

andsubordinate。Theensemblemustpreponderateovertheindividual;andtheconstructorsoftheoriesmustberegardedas

organsofacommonintellectualandsocialmovement。

Thehistoryofeconomicinquiryismostnaturallydividedintothethreegreatperiodsof（1）theancient，（2）themediaeval，

and（3）themodernworlds。Inthetwoformer，thisbranchofstudycouldexistonlyinarudimentarystate。Itisevidentthat

foranyconsiderabledevelopmentofsocialtheorytwoconditionsmustbefulfilled。First，thephenomenamusthaveexhibited

themselvesonasufficientlyextendedscaletosupplyadequatematterforobservation，andaffordasatisfactorybasisfor

scientificgeneralisations;andsecondly，whilstthespectacleisthusprovided，thespectatormusthavebeentrainedforhis

task，andarmedwiththeappropriateaidsandinstrumentsofresearch，thatistosay，theremusthavebeensuchaprevious

cultivationofthesimplersciencesaswillhavebothfurnishedthenecessarydataofdoctrineandpreparedtheproper

methodsofinvestigation。Sociologyrequirestouseforitspurposestheoremswhichbelongtothedomainsofphysicsand

biology，andwhichitmustborrowfromtheirprofessors;and，onthelogicalside，themethodswhichithastoemploy——

deductive，observational，comparative——musthavebeenpreviouslyshapedinthecultivationofmathematicsandthestudy

oftheinorganicworldoroforganismslesscomplexthanthesocial。Henceitisplainthat，thoughsomelawsortendencies

ofsocietymusthavebeenforcedonmen’sattentionineveryagebypracticalexigencieswhichcouldnotbepostponed，and

thoughthequestionsthusraisedmusthavereceivedsomeempiricalsolution，areallyscientificsociologymustbethe

productofaveryadvancedstageofintellectualdevelopment。Andthisistrueoftheeconomic，asofotherbranchesofsocial

theory。Weshallthereforecontentourselveswithageneraloutlineofthecharacterofeconomicthoughtinantiquityandthe

MiddleAges，andoftheconditionswhichdeterminedthatcharacter。

NOTES:

1。"Quepourrions—nousgagneràrecueillirdesopinionsabsurdes，desdoctrinesdécriéesetquimeritentdel’être？Ilseraità

lafoisinutileetfastidieux。"Écon。Pol。Pratique，IXmePartie。The"cependant"whichfollowsdoesnotreallymodifythis

judgment。

2。SeeRoscher’sGeschichtederNational—oekoomikinDeutschland，Vorrede。

Chapter2

AncientTimesTheearliestsurvivingexpressionsofthoughtoneconomicsubjectshavecomedowntousfromtheOrientaltheocracies。

Thegeneralspiritofthecorrespondingtypeofsociallifeconsistedintakingimitationforthefundamentalprincipleof

education，andconsolidatingnascentcivilisationbyheredityofthedifferentfunctionsandprofessions，orevenbyasystem

ofcastes，hierarchicallysubordinatedtoeachotheraccordingtothenatureoftheirrespectiveoffices，underthecommon

supremedirectionofthesacerdotalcaste。Thislastwaschargedwiththetraditionalstockofconceptions，andtheir

applicationforpurposesofdiscipline。Itsoughttorealiseacompleteregulationofhumanlifeinallitsdepartmentsonthe

basisofthistransmittedbodyofpracticalideas。Conservationistheprincipaltaskofthissocialorder，anditsmost

remarkablequalityisstability，whichtendstodegenerateintostagnation。Buttherecanbenodoubtthattheusefulartswere

long，thoughslowly，progressiveunderthisregime，fromwhichtheywereinheritedbythelatercivilisations——thesystemof

classesorcastesmaintainingthedegreeofdivisionoflabourwhichhadbeenreachedinthoseearlyperiods。Theleading

membersofthecorporationswhichpresidedoverthetheocracieswithoutdoubtgavemuchearnestthoughttotheconduct

ofindustry，which，unlikewar，didnotimperiltheirpoliticalpre—eminencebydevelopingarivalclass。But，conceivinglifeas

awhole，andmakingitsregulationtheirprimaryaim，theynaturallyconsideredmostthesocialreactionswhichindustryis

fittedtoexercise。Themoralsideofeconomicsistheonetheyhabituallycontemplate，or（whatisnotthesame）the

economicsideofmorals。Theyaboundinthosewarningsagainstgreedandthehastetoberichwhichreligionand

philosophyhaveinallagesseentobenecessary。Theyinsistonhonestyinmutualdealings，onjustweightsandmeasures，on

thefaithfulobservanceofcontracts。Theyadmonishagainsttheprideandarroganceapttobegeneratedbyriches，against

undueprodigalityandself—indulgence，andenforcethedutiesofjusticeandbeneficencetowardsservantsandinferiors。

Whilst，inaccordancewiththetheologicalspirit，thepersonalacquisitionofwealthisingeneralthesisrepresentedas

determinedbydivinewills，itsdependenceonindividualdiligenceandthriftisemphaticallytaught。Thereisindeedinthe

fullydevelopedtheocraticsystemsatendencytocarryprecept，whichtheredifferslittlefromcommand，toanexcessive

degreeofminuteness——toprescribeindetailthetime，themode，andtheaccompanimentsofalmosteveryactofevery

memberofthecommunity。Thissystemofexaggeratedsurveillanceisconnectedwiththeunion，orratherconfusion，ofthe

spiritualandtemporalpowers，whenceitresultsthatmanypartsofthegovernmentofsocietyareconductedbydirect

injunctionorrestraint，whichatalaterstageareintrustedtogeneralintellectualandmoralinfluences。

ThepracticaleconomicenterprisesofGreekandRomanantiquitycouldnot，evenindependentlyofanyspecialadverse

influences，havecompetedinmagnitudeofscaleorvarietyofresourcewiththoseofmoderntimes。Theunadvanced

conditionofphysicalsciencepreventedalargeapplicationofthelessobviousnaturalpowerstoproduction，ortheextensive

useofmachinery，whichhasacquiredsuchanimmensedevelopmentasafactorinmodernindustry。Theimperfectionof

geographicalknowledgeandofthemeansofcommunicationandtransportwereimpedimentstothegrowthofforeign

commerce。Theseobstaclesarosenecessarilyoutofthemereimmaturityoftheindustriallifeoftheperiodsinquestion。But

moredeeplyrootedimpedimentstoavigorousandexpansiveeconomicpracticalsystemexistedinthecharacteristic

principlesofthecivilisationofantiquity。Somewritershaveattemptedtosetasidethedistinctionbetweentheancientand

modernworldsasimaginaryorunimportant，and，whilstadmittingthebroadseparationbetweenourselvesandthetheocratic

peoplesoftheEast，torepresenttheGreeksandRomansasstandingonasubstantiallysimilargroundofthought，feeling，

andactionwiththeWesternpopulationsofourowntime。Butthisisaseriouserror，arisingfromthesametooexclusive

pre—occupationwiththecultivatedclassesandwiththemerespeculativeintellectwhichhasoftenledtoanundue

disparagementoftheMiddleAges。Thereisthisessentialdifferencebetweenthespiritandlifeofancientandofmodern

communities，thattheformerwereorganisedforwar，thelatterduringtheirwholehistoryhaveincreasinglytendedtobe

organisedforindustry，astheirpracticalendandaim。Theprofoundinfluenceofthesedifferingconditionsoneveryformof

humanactivitymustneverbeoverlookedorforgotten。Withthemilitaryconstitutionofancientsocietiestheinstitutionof

slaverywasessentiallyconnected。Farfrombeinganexcrescenceonthecontemporarysystemoflife，asitwasinthemodern

WestIndiesortheUnitedStatesofAmerica，itwassoentirelyinharmonywiththatlifethatthemosteminentthinkers

regardeditasnolessindispensablethaninevitable。Itdoes，indeed，seemtohavebeenatemporarynecessity，andonthe

whole，regardbeinghadtowhatmighthavetakenitsplace，arelativegood。Butitwasattendedwithmanifoldevils。Itledto

theprevalenceamongstthecitizenclassofacontemptforindustrialoccupations;everyformofproduction，withapartial

exceptioninfavourofagriculture，wasbrandedasunworthyofafreeman——theonlynobleformsofactivitybeingthose

directlyconnectedwithpubliclife，whethermilitaryoradministrative。Labourwasdegradedbytherelegationofmost

departmentsofittotheservileclass，abovewhomthefreeartisanswerebutlittleelevatedingeneralesteem。Theproducers

beingthusforthemostpartdestituteofintellectualcultivationandexcludedfromanyshareincivicideas，interests，or

efforts，wereunfittedincharacteraswellasbypositionforthehabitsofskilfulcombinationandvigorousinitiationwhich

theprogressofindustrydemands。Tothismustbeaddedthatthecomparativeinsecurityoflifeandpropertyarisingoutof

militaryhabits，andtheconsequentriskswhichattendedaccumulation，weregraveobstructionstotheformationoflarge

capitals，andtotheestablishmentofaneffectivesystemofcredit。Thesecausesconspiredwiththeundevelopedstateof

knowledgeandofsocialrelationsingivingtotheeconomiclifeoftheancientsthelimitationandmonotonywhichcontrast

sostronglywiththeinexhaustibleresource，theceaselessexpansion，andthethousandfoldvarietyofthesameactivitiesin

themodernworld。Itis，ofcourse，absurdtoexpectincompatiblequalitiesinanysocialsystem;eachsystemmustbe

estimatedaccordingtotheworkithastodo。Nowthehistoricalvocationoftheancientcivilisationwastobeaccomplished，

notthroughindustry，butthroughwar，whichwasintheendtocreateaconditionofthingsadmittingofitsownelimination

andofthefoundationofaregimebasedonpacificactivity。

THEGREEKS

Thisofficewas，however，reservedforRome，asthefinalresultofhersystemofconquest;themilitaryactivityofGreece，

thoughcontinuous，wasincoherentandsterile，exceptinthedefenceagainstPersia，anddidnotissueintheaccomplishment

ofanysuchsocialmission。Itwas，doubtless，theinadequacyofthewarriorlife，undertheseconditions，toabsorbthe

facultiesoftherace，thatthrewtheenergiesofitsmosteminentmembersintothechannelofintellectualactivity，and

producedasingularlyrapidevolutionoftheaesthetic，philosophic，andscientificgermstransmittedbythetheocratic

societies。

IntheWorksandDaysofHesiod，wefindanorderofthinkingintheeconomicsphereverysimilartothatofthe

theocracies。Witharecognitionofthedivinedisposingpower，andtraditionalrulesofsacerdotalorigin，iscombined

practicalsagacityembodiedinpreceptorproverbialsaying。Butthedevelopmentofabstractthought，beginningfromthe

timeofThales，soongivestoGreekcultureitscharacteristicform，andmarksanewepochintheintellectualhistoryof

mankind。

Themovementwasnowbegun，destinedtomouldthewholefutureofhumanity，which，graduallysappingtheoldhereditary

structureoftheologicalconvictions，tendedtothesubstitutionofrationaltheoriesineverydepartmentofspeculation。The

eminentGreekthinkers，whiletakingadeepinterestintheriseofpositivescience，andmostofthemstudyingtheonly

science——thatofgeometry——thenassumingitsdefinitivecharacter，wereledbythesocialexigencieswhichalways

powerfullyaffectgreatmindstostudywithspecialcarethenatureofmanandtheconditionsofhisexistenceinsociety。

Thesestudieswereindeedessentiallypremature;alongdevelopmentoftheinorganicandvitalscienceswasnecessary

beforesociologyormoralscouldattaintheirnormalconstitution。ButbytheirprosecutionamongsttheGreeksanoble

intellectualactivitywaskeptalive，andmanyofthosepartiallightsobtainedforwhichmankindcannotaffordtowait。

Economicinquiries，alongwithothers，tendedtowardsrationality;Plutuswasdethroned，andterrestrialsubstitutedfor

supernaturalagencies。Butsuchinquiries，restingonnosufficientlylargebasisofpracticallife，couldnotattainany

considerableresults。Themilitaryconstitutionofsociety，andtheexistenceofslavery，whichwasrelatedtoit，leading，aswe

haveseen，toalowestimateofproductiveindustry，turnedawaythehabitualattentionofthinkersfromthatdomain。Onthe

otherhand，theabsorptionofcitizensinthelifeofthestate，andtheirpre—occupationwithpartystruggles，broughtquestions

relatingtopolitics，properlysocalled，intospecialprominence。Theprincipalwritersonsocialsubjectsarethereforealmost

exclusivelyoccupiedwiththeexaminationandcomparisonofpoliticalconstitutions，andwiththesearchaftertheeducation

bestadaptedtotrainthecitizenforpublicfunctions。Andwefind，accordingly，inthemnosystematicoradequatehandling

ofeconomicquestionsonlysomehappyideasandstrikingpartialanticipationsoflaterresearch。

Intheirthinkingonsuchquestions，asonallsociologicalsubjects，thefollowinggeneralfeaturesareobservable。

1。Theindividualisconceivedassubordinatedtothestate，throughwhichalonehisnaturecanbedevelopedandcompleted，

andtothemaintenanceandserviceofwhichallhiseffortsmustbedirected。Thegreataimofallpoliticalthoughtisthe

formationofgoodcitizens;everysocialquestionisstudiedprimarilyfromtheethicalandeducationalpointofview。The

citizenisnotregardedasaproducer，butonlyasapossessor，ofmaterialwealth;andthiswealthisnotesteemedforitsown

sakeorfortheenjoymentsitprocures，butforthehighermoralandpublicaimstowhichitmaybemadesubservient。

2。Thestate，therefore，claimsandexercisesacontrollingandregulatingauthorityovereverysphereofsociallife，including

theeconomic，inordertobringindividualactionintoharmonywiththegoodofthewhole。

3。Withthesefundamentalnotionsiscombinedatendencytoattributetoinstitutionsandtolegislationanunlimitedefficacy，

asifsocietyhadnospontaneoustendencies，butwouldobeyanyexternalimpulse，ifimpresseduponitwithsufficientforce

andcontinuity。

Everyeminentsocialspeculatorhadhisidealstate，whichapproximatedtoordivergedfromtheactualorpossible，

accordingtothedegreeinwhichasenseofrealityandapositivehabitofthinkingcharacterisedtheauthor。

ThemostcelebratedoftheseidealsystemsisthatofPlato。Inittheideaofthesubordinationoftheindividualtothestate

appearsinitsmostextremeform。Withinthatclassofthecitizensofhisrepublicwhorepresentthehighesttypeoflife，

communityofpropertyandofwivesisestablished，asthemosteffectivemeansofsuppressingthesenseofprivateinterest，

andconsecratingtheindividualentirelytothepublicservice。Itcannotperhapsbetrulysaidthathisschemewasincapableof

realisationinanancientcommunityfavourablysituatedforthepurpose。Butitwouldsoonbebrokentopiecesbytheforces

whichwouldbedevelopedinanindustrialsociety。Ithas，however，beenthefruitfulparentofmodernUtopias，specially

attractiveasitistomindsinwhichtheliteraryinstinctisstrongerthanthescientificjudgment，inconsequenceofthe

freshnessandbrilliancyofPlato’sexpositionandtheunrivalledcharmofhisstyle。Mixedwithwhatweshouldcallthe

chimericalideasofhiswork，therearemanystrikingandelevatedmoralconceptions，and，whatismoretoourpresent

purpose，somejusteconomicanalyses。Inparticular，hegivesacorrectaccountofthedivisionandcombinationof

employments，astheynaturallyariseinsociety。Thefoundationofthesocialorganizationhetraces，perhaps，tooexclusively

toeconomicgrounds，notgivingsufficientweighttothedisinterestedsocialimpulsesinmenwhichtendtodrawandbind

themtogether。Butheexplainsclearlyhowthedifferentwantsandcapacitiesofindividualsdemandandgiverisetomutual

services，andhow，bytherestrictionofeachtothesortofoccupationtowhich，byhisposition，abilities，andtraining，heis

bestadapted，everythingneedfulforthewholeismoreeasilyandbetterproducedoreffected。Inthespiritofalltheancient

legislatorshedesiresaself—sufficingstate，protectedfromunnecessarycontactswithforeignpopulations，whichmighttend

tobreakdownitsinternalorganisationortodeterioratethenationalcharacter。Hencehediscountenancesforeigntrade，and

withthisviewremoveshisidealcitytosomedistancefromthesea。Thelimitsofitsterritoryarerigidlyfixed，andthe

populationisrestrictedbytheprohibitionofearlymarriages，bytheexposureofinfants，andbythemaintenanceofa

determinatenumberofindividuallotsoflandinthehandsofthecitizenswhocultivatethesoil。Theseprecautionsare

inspiredmorebypoliticalandmoralmotivesthanbythe%Malthusianfearoffailureofsubsistence。Platoaims，asfaras

possible，atequalityofpropertyamongstthefamiliesofthecommunitywhichareengagedintheimmediateprosecutionof

industry。Thislastclass，asdistinguishedfromthegoverningandmilitaryclasses，heholds，accordingtothespiritofhisage，

inbutlittleesteem;heregardstheirhabitualoccupationsastendingtothedegradationofthemindandtheenfeeblementof

thebody，andrenderingthosewhofollowthemunfitforthehigherdutiesofmenandcitizens。Thelowestformsoflabour

hewouldcommittoforeignersandslaves。Again，inthespiritofancienttheory，hewishes（Legg。，v。12）tobanishthe

preciousmetals，asfaraspracticable，fromuseininternalcommerce，andforbidsthelendingofmoneyoninterest，leaving

indeedtothefreewillofthedebtoreventherepaymentofthecapitaloftheloan。Alleconomicdealingshesubjectstoactive

controlonthepartoftheGovernment，notmerelytopreventviolenceandfraud，buttocheckthegrowthofluxurious

habits，andsecuretothepopulationofthestateaduesupplyofthenecessariesandcomfortsoflife。

ContrastedwiththeexaggeratedidealismofPlatoisthesomewhatlimitedbuteminentlypracticalgeniusofXenophon。In

himthemanofactionpredominates，buthehasalsoalargeelementofthespeculativetendencyandtalentoftheGreek。His

treatiseentitledOeconomicusiswellworthreadingfortheinterestingandanimatedpictureitpresentsofsomeaspectsof

contemporarylife，andisjustlypraisedbySismondiforthespiritofmildphilanthropyandtenderpietywhichbreathes

throughit。Butitscarcelypassesbeyondtheboundsofdomesticeconomy，thoughwithinthatlimititsauthorexhibitsmuch

soundsenseandsagacity。Hispreceptsforthejudiciousconductofprivatepropertydonotconcernushere，norhiswise

suggestionsforthegovernmentofthefamilyanditsdependents。Yetitisinthisnarrowersphereandingeneralinthe

concretedomainthathischiefexcellencelies;toeconomicsintheirwideraspectshedoesnotcontributemuch。Heshares

theordinarypreferenceofhisfellow—countrymenforagricultureoverotheremployments，andis，indeed，enthusiasticinhis

praisesofitaspromotingpatrioticandreligiousfeelingandarespectforproperty，asfurnishingthebestpreparationfor

militarylife，andasleavingsufficienttimeandthoughtdisposabletoadmitofconsiderableintellectualandpoliticalactivity。

YethispracticalsenseleadshimtoattributegreaterimportancethanmostotherGreekwriterstomanufactures，andstill

moretotrade，toentermorelargelyonquestionsrelatingtotheirconditionsanddevelopment，andtobespeakforthemthe

countenanceandprotectionofthestate。Thoughhisviewsonthenatureofmoneyarevague，andinsomerespects

erroneous，heseesthatitsexportinexchangeforcommoditieswillnotimpoverishthecommunity。Healsoinsistsonthe

necessity，withaviewtoaflourishingcommercewithothercountries，ofpeace，ofacourteousandrespectfultreatmentof

foreigntraders，andofapromptandequitabledecisionoftheirlegalsuits。Theinstitutionofslaveryheofcourserecognises

anddoesnotdisapprove;heevenrecommends，fortheincreaseoftheAtticrevenues，thehiringoutofslavesbythestatefor

labourinthemines，afterbrandingthemtopreventtheirescape，thenumberofslavesbeingconstantlyincreasedbyfresh

purchasesoutofthegainsoftheenterprise。（DeVect。，3，4。）