Alexander Hamilton's Famous Report on Manufactures; Made to Congress December 5, 1791

Alexander Hamilton's Famous Report on Manufactures; Made to Congress December 5, 1791 : In His Capacity as Secretary of the Treasury

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ...of a reason able profit on the capital employed. This accords with the reason of the thing and with experience. Whence it follows, that it is the interest of a community, with a view to eventual and permanent economy, to encourage the growth of manufactures. In a national view, a temporary enhancement of price must always be well compensated by a permanent reduction of it. It is a reflection which may with propriety be indulged here, that this eventual diminution of the prices of manufactured articles, which is the result of internal manufacturing establishments, has a direct and very important tendency to benefit agriculture. It enables the farmer to procure, with a smaller quantity of his labor, the manufactured produce of which he stands in need, and consequently increases the value of his income and property. The objections which are commonly made to the expediency of encouraging and to the probability of succeeding in manufacturing pursuits, in the United States, having now been discussed, the considerations which have appeared in the course of the discussion, recommending that species of industry to the patronage of the government, will be materially strengthened by a few general and some particular topics, which have been naturally reserved for subsequent notice. I. There seems to be a moral certainty that the trade of a country, which is both manufacturing and agricultural, will be more lucrative and prosperous than that of a country which is merely agricultural. One reason for this is found in that general effort of nations (which has been already mentioned) to procure from their own soils the articles of prime necessity requisite to their own consumption and use, and which serves to render their demand for a foreign supply more

Product details

  • Paperback | 36 pages
  • 189 x 246 x 2mm | 82g
  • United States
  • English
  • black & white illustrations
  • 1236903862
  • 9781236903860