question as regards the Railway. As regards
colonization the question--Who is to advance the money? has, I think,
been very clearly answered by Mr. Mill. As regards the undertaking of
this Railway, and the answer to the question, Where is the money to come
from? let us first suppose then that "there is an increase of the
quantity of money, caused by the arrival of a foreigner in a place with
a treasure of gold and silver; when he commences expending it, he adds
to the supply of money and by the same act to the demand for goods. If
he expends his funds in establishing a manufactory, he will raise the
price of labour and materials; but, at the higher prices, more money
will pass into the hands of the sellers of these different articles; and
they, whether labourers or dealers, having more money to lay out, will
create an increased demand for all things which they are accustomed to
purchase, and these accordingly will rise in price, and so on, until the
rise has reached every thing." Now let us for a moment suppose this
foreigner to be represented by our friend the Atlantic and Pacific
Railway, (imagined, for the sake of our argument, to be completed),
and we will no longer consider him a foreigner, but a brother. This
brother, on his arrival in England finds that he has unfortunately
forgotten to bring with him his purse, that in fact he has neither gold
nor silver, the representatives of wealth, and here, be it remembered,
that wealth is any thing useful or agreeable, and that money is a
commodity. We will then suppose this North American brother to say, My
good brother of England, I am here without gold or silver, or without
any kind of wealth; the commodities I have left behind me are of such a
nature, that without much labour I could not put them in such a shape as
would enable me to bring them to this country, nor could I obtain silver
or gold enough to represent them; unless, therefore, I send some
labouring people and machinery to my country, I am afraid I cannot
obtain all the commodities I wish to have. Now you have plenty of spare
labourers, and plenty of spare machinery and other useful materials, and
for which you would be glad to receive valuable commodities in my
country; and if you will only send the labourers and machinery out, I
will order that in return you shall be allowed to bring away all the
useful and agreeable things, that is, all the wealth that may be found,
and have the use of such things as you m