# Political Arithmetick (1899)/Chapter VIII

Political Arithmetick was first published in 1690. According to Petty's list it was written in 1676. This edition is from the The Economic Writings of Sir William Petty, edited by Charles Henry Hull, and published in 1899 (vol. 1, pages 233-313)
Chap. VIII.
TO prove this Point we must enquire, how much all the People could earn, if they were disposed, or necessitated to labour, and had Work whereupon to employ themselves; and compare that summ, with that of the Total expence above mentioned; deducting the Rents, and Profits of their Land, and Stock, which properly speaking, saveth so much Labour. Now the proceed of the said Lands, and Stock in the Countries, is about three parts of seven, of the whole expence; so as where the expence is seventy Millions, |[105]| the Rent of the Land, and the Profit of all the Personal Estate, Interest of mony, &c. must be about thirty Millions; and consequently, the value of the Labour forty Millions, that is 4l. per Head.
But it is to be noted. That about a quarter of the Mass of Mankind, are children, Males, and Females, under seven years old, from whom little Labour is to be expected. It is also to be noted. That about another tenth part of the whole People, are such as by reason of their great Estates, Titles, Dignities, Offices, and Professions, are exempt from that kind of Labour we now speak of; their business being, or ought to be, to Govern, Regulate, and Direct, the Labours and Actions of others. So that of ten Millions, there may be about six Millions and an half, which (if need require) might actually Labour: And of these some might earn 3s. per week, some 5s. and some 7s. That is all of them might earn 5s. per week at a Medium one with another; or at least 10l. per annum, (allowing for sickness, and other accidents;) whereby ​the whole might earn sixty five Millions per annum, that |[106]| is twenty five more than the expence.
The Author of the State of England, says that the Children of Norwich, between six and sixteen years old, do earn 1200l. per annum, more than they spend. Now forasmuch as the People of Norwich, are a three hundredth part of all the People of England, as appears by the Accompts of the Hearth mony; and about a five hundredth part, of all the Kings Subjects throughout the World; it follows that all his Majesties Subjects, between six and sixteen years old, might earn five Millions per annum more than they spend.
Again, forasmuch as the number of People, above sixteen years old, are double the number, of those between six and sixteen; and that each of the Men can earn double to each of the Children; it is plain that if the Men and Children every where did do as they do in Norwich, they might earn twenty five Millions per ann. more than they spend: which estimate grounded upon matter of Fact and Experience, agrees with the former. |[107]|
Although as hath been proved, the People of England do thrive, and that it is possible they might Superlucrate twenty five Millions per annum; yet it is manifest that they do not, nor twenty three, which is less by the two Millions herein meant; for if they did Superlucrate twenty three Millions, then in about five or six years time, the whole Stock, and Personal Estate of the Nation would be doubled, which I wish were true, but find no manner of reason to believe; wherefore if they can Superlucrate twenty five, but do not actually Superlucrate twenty three, nor twenty, nor ten, nor perhaps five, I have then proved what was propounded, viz. That there are spare Hands among the Kings Subjects, to earn two Millions more than they do.
But to speak a little more particularly concerning this matter: It is to be noted that since the Fire of London, ​there was earned in four years by Tradesmen, (relating to Building only) the summ of four Millions; viz. one Million per annum, without lessening any other sort of Work, Labour, or Manufacture, which was usually done in |[108]| any other four years before the said occasion. But if the Tradesmen relating to Building only, and such of them only as wrought in and about London, could do one Million worth of Work extraordinary; I think that from thence, and from what hath been said before, all the rest of the spare Hands, might very well double the same, which is as much as was propounded.
Now if there were spare Hands to Superlucrate Millions of Millions, they signifie nothing unless there were Employment for them; and may as well follow their Pleasures, and Speculations, as Labour to no purpose; therefore the more material Point is, to prove that there is two Millions worth of Work to be done, which at present the Kings Subjects do neglect.
For the proof of this there needs little more to be done, than to compute 1. How much mony is paid, by the King of England's Subjects, to Foreigners for Freights of Shipping.2. How much the Hollanders gain by their Fishing Trade, praftised upon our Seas.3. What the value is of all the Commodities, Imported into, and spent in England; which |[109]| might by diligence be produced, and Manufactured here. To make short of this matter, upon perusal of the most Authentick Accompts, relating to these several particulars, I affirm that the same amounteth to above five Millions, whereas I propounded but two Millions.
For a further proof whereof Mr. Samuel Fortry in his ingenious Discourse of Trade, exhibits the particulars, wherein it appears, that the Goods Imported out of France only, amount yearly to two Millions six hundred thousand pounds. And I affirm. That the Wine, Paper, Corke, Rozen, Capers, and a few other Commodities, which England cannot produce, do not amount to one fifth part of the said summ. From whence it follows, that (if Mr. Fortry hath not erred) the two Millions here mentioned, may arise from France alone; and consequently five or six Millions, from all the three Heads last above specified. |[110]|
* ↑ S, 'the whole stock,' R, 'y$^e$ mass.'
* ↑ Chamberlayne, State of England, Second part, 1671, pp. 150—151. "In the City of Norwich it hath of late years been computed and found, that yearly children from six to ten [not 16] years of age have gained twelve thousand pounds more than what they spend, and that chiefly by knitting fine Jersey stockings."
* ↑ See p. 297, note 2.