This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1804 Excerpt: ...of detail, and depth of philo"sophical research, will, I believe, furnish "the "the best solution to every question con"nested with the history of commerce, or "with the system of political conomy. "This accumulation of capital arises from "the continual application of a part, at "least, of the profit obtained in each year, to "increase the total amount of capital to be "employed in a similar manner, and with "continued profit, in the year following. "The great mass of the property of the "nation is thus constantly increasing at "compound interest; the progress of "which, in any considerable period, is "what, at first view, would appear incre"dibler Great as have been the effects of "this cause already, they must be greater "in future; for its powers are augmented "in proportion as they are exerted. It "acts with a velocity continually accele"rated, with a force continually increa"sed. "Mobilitate viget, viresque acquirit eundo." This See Mr Pitt's Speech, printed by authority for G. C and J. Robinsons, 1792, p. 36. This was the prelude to a legislative arrangement, which devoted the annual million to be accumulated till it produced L. 3,000,000 per annum over and above the yearly million, and the produce of the annuities which would fall into the public; and also to a provifion, compelling one per tent. to be set aside annually for accumulation on the capital of all debt which should in future be contracted. L. 400,000 additional was likewise given to the accumulating fund this year, which laid the foundation of another annual grant of L. 200,000. But the effects of this admiration of the benefits derived from a system of accum...