Excerpt from A Refutation of Some Doctrines Relating to the Sinking Fund, &C., &C, : Contained in a Work Lately Published by the Earl of Lauderdale, With Original Remarks on Different Subjects of Political Economy

In page 121 it is asserted, that consumption, most undoubtedly, must always precede production. The term consumption must mean the consumption of some particular commodity or commodities, but how is it possible that in any age or state of society whatever, any one commodity can have been consumed before it was produced i - which it must have been if con sumption precedes production. Perhaps the desire or necessity of consumption might'have been intended to be expressed by the noble author.

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