JB/116/125/001

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3 July 1802
N. S. Wales

If for a million drawn out of Britain, and employed in the shape of capital
£120,000 being taken from the capital that would otherwise
have been employed at a profit of 12 per Cent in Great Britain, if for a million
thus constantly employed a quantity of wealth, fetching in Great Britain £120,000 + + payment of freight included a year be annually produced
in Trinidad, the quantity of wealth existing in the world will be neither greater nor less than if no such
place as Trinidad had been in existence: but +2 +2 (supposing that if the
capital had not been
employed in Trinidad
it would not have been
employed in any other
Colony or in any foreign
country.) the quantity
of wealth annually produced in Great Britain would be
so much the less by £120,000 a year.

The same propositions would be equally true if applied
to New South Wales in the of Trinidad.
But if produced in New South Wales, the same quantity
of wealth which had it been produced in Trinidad would
have produced to the owners in Trinidad £120,000, after
paying for the freight, would not produce to the after paying
for the freight so much as £120,000 to the owners in New South Wales.
Call For argument sake, Let the difference in point of freight in disfavour
of New South Wales be the odd $20,000. On this supposition
the loss to Britain by employing the millions worth
of capital in New South Wales instead of employing it in
Britain is £120,000 a year as before in the case of
Trinidad. But besides this loss of £120,000 which is merely
relative and not a loss to the commercial world taken together
there is a loss to the amount of this £20,000 worth of labour employed in useless
freight for the same quantity of goods had been employed in the production of goods, it
would have <add>ought </add> </del> would of course have been production wherever it was employed
have been productive of goods to that same value.

Identifier: | JB/116/125/001 "JB/" can not be assigned to a declared number type with value 116.
Date_1	1802-07-31	Marginal Summary Numbering	not numbered
Box	116	Main Headings	panopticon versus new south wales
Folio number	125	Info in main headings field	n. s. wales
Image	001	Titles
Category	text sheet	Number of Pages	1
Recto/Verso	recto	Page Numbering	d22 / e7 e1
Penner	jeremy bentham	Watermarks
Marginals	jeremy bentham	Paper Producer
Corrections		Paper Produced in Year
Notes public		ID Number	37658
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