The subject of Mr Godwin's essay is a little similar in its first appearance, but in essence is as distinct as possible.

He considers the mischief of profusion as an acknowledged truth, and therefore makes his comparison between the avaricious man, and the man who spends his income.

But the avaricious man of Mr Godwin is totally a distinct character, at least with regard to his effect upon the prosperity of the state, from the frugal man of Dr Adam Smith.

The frugal man in order to make more money saves from his income and adds to his capital, and this capital he either employs himself in the maintenance of productive labour, or he lends it to some other person who will probably employ it in this way.

He benefits the state because he adds to its general capital, and because wealth employed as capital not only sets in motion more labour than when spent as income, but the labour is besides of a more valuable kind.