d to me that since, in the name you have given to this
great gathering of British pictures, you recognize them as
Treasures--that is, I suppose, as part and parcel of the real wealth of
the country--you might not be uninterested in tracing certain commercial
questions connected with this particular form of wealth. Most persons
express themselves as surprised at its quantity; not having known before
to what an extent good art had been accumulated in England: and it will,
therefore, I should think, be held a worthy subject of consideration,
what are the political interests involved in such accumulations, what
kind of labour they represent, and how this labour may in general be
applied and economized, so as to produce the richest results.

6. Now, you must have patience with me, if in approaching the specialty
of this subject, I dwell a little on certain points of general political
science already known or established: for though thus, as I believe,
established, some which I shall have occasion to rest arguments on are
not yet by any means universally accepted; and therefore, though I will
not lose time in any detailed defence of them, it is necessary that I
should distinctly tell you in what form I receive, and wish to argue
from them; and this the more, because there may perhaps be a part of my
audience who have not interested themselves in political economy, as it
bears on ordinary fields of labour, but may yet wish to hear in what way
its principles can be applied to Art. I shall, therefore, take leave to
trespass on your patience with a few elementary statements in the
outset, and with the expression of some general principles, here and
there, in the course of our particular inquiry.

7. To begin, then, with one of these necessary truisms: all economy,
whether of states, households, or individuals, may be defined to be the
art of managing labour. The world is so regulated by the laws of
Providence, that a man's labour, well applied, is always amply
sufficient to provide him during his life with all things needful to
him, and not only with those, but with many pleasant objects of luxury;
and yet farther, to procure him large intervals of healthful rest and
serviceable leisure. And a nation's labour, well applied, is, in like
manner, amply sufficient to provide its whole population with good food
and comfortable habitation; and not with those only, but with good
education besides, and objects of luxury, art treasure