PrincipleSf p

67. PrincipleSf chap. VIII, pp. 87 sqq. — Cf. Rieardo à Trower, 28 janvier 1820 : As a political economist 1 say tliat there is no tax whicli bas not a tendency to diminish production, in the same way as a détérioration of soil or the loss of a good machine, but I mean nothing more than that itis an obstacle opposed to production. Yousay it is such obstacles as thèse which stimulate to exertion and expérience proves they are always overeome. I bave no doubt that there is a degree of difficulty in production which acts in the way you mention ; if too sti*ong however it will oppose a pbysical difficulty which cannot be overcomc. I think the difficnlties in our case are not precisely in the proper degree to ensure the gréa test production.