isthemainspringorcausacausansofallimprovement。71Thisis，ofcourse，partofthefamiliarsystem，whichappliesequallyinethicsandpolitics，M’CullochissimplygeneralisingAdamSmith’scongenialdoctrinethatstatesmenareguiltyofabsurdpresumptionwhentheytrytointerferewithaman’smanagementofhisownproperty。72Thistheory，again，isexpressedbythefamiliarmaximpastropgouverner，whichiscommontothewholeschool，andoftenacceptedexplicitly。73
Itwillbequiteenoughtonoticeoneortwocharacteristicresults。Themostimportantconcerntherelationbetweenthelabourerandthecapitalist。Malthusgivesthestarting-point。
Torrens，forexample，saysthatthe’realwagesoflabourhaveaconstanttendencytosettledown’totheamountrenderednecessaryby’customandclimate’inordertokeepuphisnumbers。74Millobservesinhistersewaythatthecapitalistinthepresentstateofsociety’isasmuchtheownerofthelabour’asthemanufacturerwhooperateswithslaves。
Theonly’differenceisinthemodeofpurchasing。’75Onebuysaman’swholelabour；theotherhislabourforaday。Therateofwagescanthereforeberaised，likethepriceofslaves，onlybylimitingthesupply。Hencethe’grandpracticalproblemistofindthemeansoflimitingthenumberofbirths。’76M’Cullochisequallyclear，andinfersthateveryscheme’notbottomedon’theprincipleofproportioninglabourtocapitalmustbe’completelynugatoryandineffectual，’77
ThedoctrinecommontothewholeschoolledM’Cullochtoconclusionswhichbecameafterwardsnotoriousenoughtorequireawordofnotice。Torrens，likeRicardo，speaksofcapitalas’accumulatedlabour，’butmakesagreatpointofobservingthat，althoughthisistrue，thecaseisradicallychangedinadevelopedstateofsociety。