BOUNTY

In Commerce and the Arts, a premium paid by government to the producers, exporters, or importers of certain articles, or to those who employ ships in certain trades, when the profits resulting from "these respective branches of industry are alleged to be insuSicient. Bounties on production are usually given in the view of encouraging the establishment of some new branch of industry, or of fostering and extending a branch that is believed to be of paramount importance. Bounties on exportation and importation are granted to the exporters of certain British commodities on their taking path, or in some cases giving bond, not to reland the same in England. Public opinion was formerly very divided as to the advantage of granting bounties; but at present the impolicy of such a practice appears to be almost universally admitted. For it will be found that in all old settled and wealthy countries, numbers of individuals are always ready to embark in every new undertaking, if it promise to be really advantageous, without any stimulus from government; and if a branch of industry already established be really important and suitable for the country, it will a uredly be prosecuted to the nece ary extent without any encouragement beyond the natural demand for its produce. For further details upon this subject, see the article Tariff. BOUNTY, [s. 175]