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CONSEQUENCES OF THE PRESENT SYSTEM. the United States from advancing in wealth and popula tion. Our national prosperity has its seat in natural causes which cannot be effectualJ.y FREE BANKING BOOKS counteracted by any human measures, excepting such as would convert the Govern ment into a despotism like that of 'furkey, or reduce the nation to a state of anarchy resembling that of some coun tries of South America.

Our wealth and population will increase till they become equal for each square mile to the wealth and population of the continent of Europe. We are now very far from this limit. Under a good system, we cannot reach it in FREE BANKING BOOKS PDF less than one or two hun dred years. Under a bad system, in not less, perhaps, BANKING STUDY MATERAILS than three or four hundred. If we had a political system as bad as that of Great Bri tain, with its hereditary aristocracy, its laws of entail and primogeniture, its manufacturing guilds, its incorporated commercial companies, FREE BANKING BOOKS DOWNLOAD PDF its large standing army, its expen sive navy, its church establishment, its boroughmongering, its pensions and its sinecures, our advancement would be seriously retarded. But our wealth and population would, notwithstanding, continue to increase,FREE BANKING STUDY MATERIALS till they should bear the same ratio to the natural resources of the country, that the wealth and population of Great Britain have to the natural resources of that island.

The progress of opulence in the United States in the next forty or fifty years, will probably be very great. Many of the natural sources of wealth are as yet unappropriated. In no part of the country has their BANKING BOOKS 2017-2018 productiveness been fully developed. The people have now sufficient capital to turn their land and labor to more profit than was possible in any previous period of our country's history. The daily improvements in productive machinerYJ and especially in EXAM PREPARATION & TUTORING the application of steam power, the discove ries in science, the introduction of new composts and new courses of crops in agriculture, the extension of roads ana canals, have all a tendency to increase the wealth of the country, till the aggregate shall be enormous, But this increase of wealth will be principally for the benefit of those to whom an increase of riches will bring r:o increase of happiness, for they have already wealth enough or more than enough. Their originally small capi-

As no kind of property is prevented from being the prize of speculation by laws of entail, it is not easy to set bounds to the riches which some of our citizens may acquire. Their incomes may be equal to those of the most wealthy of the European nobility. 'I'hink, for a moment, of the immense accession of wealth certain families in the neigh borhood of large FREE DOWNLOAD FOR PDF cities and other improving towns must receive, from the conversion of tracts of many acres into building lots. For ground which cost them but one hun dred dollars an acre, they may get ten thousand dollars, twenty thousand dollars, or twenty-five thousand dollars. This will be without any labor or expenditure of capital on their part. The land will be increased in value, by the improvements made around it at the expense of other men. But this is but one of the ways in which the wealth of the rich will increase. It has heretofore been found that capital invested in lots, even in the neighborhood of the most flourishing towns, doubles itself less rapidly than capital devoted to other purposes of speculation. In what ever way it may be employed the capital of the rich will, in the aggregate, increase in nearly the ratio of compound interest.