| Locke on Currency by James Bonar Palgrave Dictionary of Political Economy volume 2, 1896 Locke had always a good eye for economical facts; we read in his Journal, for example, how the expenses of the Languedoc canal were met (Life of Locke (1829), pp. 53, 55, op. 272), and how salt was prepared and taxed at Picais (ib. p. 61), how the peasants in the Bordeaux country lived, and what wages they got (ib. p. 76), what was the mortality of Paris compared with that of London (ib. 80). His remarks on the comforts of the poorest civilised man as compared with the savage (ib. 84-86), are probably the original source of a well-known passage in Adam Smith (Wealth of Nations, i. end of ch. i.). His derivation of property from labour was, as he stated it, an original and suggestive idea, even if open to many criticisms; and his political philosophy has had its influence on political economy. In 1696, Locke was made a member of the Council of Trade (Life, p. 143). His correspondent Moyneux writes to him from Dublin about the proposed bill for the encouragement of the linen manufacture in Ireland (Oct. 4, 1697, Works, vol. iii. 591): "I am apt to think that you will have the consideration and modelling thereof at your committee of trade." Locke is one of the economists who have been able to apply their principles to practical politics during their own lifetime. The influence of his political and educational writings has been considered elsewhere. Their bearing on economics, though indirect, is very important, and the same may be said of his general philosophy. | |
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