The payment made by a manufacturer to a patentee for the privilege of using the patent process, is usually termed, in commercial language, a rent; and under the same head must be ranked all extraordinary qualities of body and mind.

But that the reasoning from these facts, the drawing from them correct conclusions, is a matter of great difficulty, may be inferred from the imperfect state in which the Science is now found after it has been so long and so intensely studied.

With respect to the first of these obstacles, it has often been made a matter of grave complaint against Political Economists, that they confine their attention to Wealth, and disregard all consideration of Happiness or Virtue.

The payment made by a manufacturer to a patentee for the privilege of using the patent process, is usually termed, in commercial language, a rent; and under the same head must be ranked all extraordinary qualities of body and mind.

We propose in the following Treatise to give an outline of the Science which treats of the Nature, the Production, and the Distribution of Wealth. To that Science we give the name of Political Economy.

One of the worst of errors would be the general admission of the proposition that a Government has no right to interfere for any purpose except for that of affording protection.

The time I trust will come, perhaps within the lives of some of us, when the outline of this science will be clearly made out and generally recognised, when its nomenclature will be fixed, and its principles form a part of elementary instruction.