Note 218-2 — Chapter I

Admirable description of economy in B. Franklin's Pennsylvanian Almanac, How poor Rich. Saunders got rich; also in J. B. Say, Traité, III, ch. 5. Adam Smith, W. of N., II, ch. 3, endeavors to explain why it is that, on the whole and on a large scale, the principle of economy predominates over the seductions of extravagance. This, however, is true only of progressive nations.