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Updated: June 21, 2025
The argument was exceedingly complex in detail; but it boils down to this: The factories and machinery which are admittedly essential to production were themselves produced in exactly the same way as consumable goods. They were produced by labor, working with the assistance of nature, and, again, if you choose, of capital in the form of further factories, machinery, etc.
The store of consumable goods is what it is: the quantity of goods in process of manufacture, which will shortly be coming forward, is also what it is.
In consequence of the notion, that duties upon consumable goods were taxes upon the profits of merchants, those duties have, in some countries, been repeated upon every successive sale of the goods.
The inconveniencies, however, which are, perhaps, in some degree inseparable from taxes upon consumable communities, fall as light upon the people of Great Britain as upon those of any other country of which the government is nearly as expensive. Our state is not perfect, and might be mended; but it is as good, or better, than that of most of our neighbours.
If a smaller share of its industry, therefore, had been employed in producing goods fit for the Portugal market, and a greater in producing those lit for the other markets, where those consumable goods for which there is a demand in Great Britain are to be had, it would have been more for the advantage of England.
Hence, some time later, the supplies of consumable things will be diminished, while at a later period still they will be more than correspondingly increased as the result of the assistance of the new durable instruments. That is the essence of saving from the social standpoint. An early future is sacrificed to a more remote future.
If the increased saving is considerable, the labor, materials, etc., required for these purposes will be withdrawn even under our present system, as under a smoothly working system they clearly must be, from the production of other and more immediately consumable things.
Thus far we have considered the analogy between the blood in a living body and the consumable and circulating commodities in the body-politic. Let us now compare the appliances by which they are respectively distributed. We shall find in the developments of these appliances parallelisms not less remarkable than those above set forth.
A society which is to allow much freedom to the individual must be strong enough to be not anxious about home defence, moderate enough to refrain from difficult external conquests, and rich enough to value leisure and a civilized existence more than an increase of consumable commodities.
The weights of a party naturally divide themselves under two headings: the permanent, which will not diminish throughout the trip, and the consumable, including food, oil, &c. The following is a list of the permanent weights carried on Scott's journey to the west, and it will give some idea of the variety of articles, exclusive of provisions. The party numbered six.
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