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wealbk04-第49章

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great market。 Her commerce; instead of running in a great number

of small channels; has been taught to run principally in one

great channel。 But the whole system of her industry and commerce

has thereby been rendered less secure; the whole state of her

body politic less healthful than it otherwise would have been。 In

her present condition; Great Britain resembles one of those

unwholesome bodies in which some of the vital parts are

overgrown; and which; upon that account; are liable to many

dangerous disorders scarce incident to those in which all the

parts are more properly proportioned。 A small stop in that great

blood…vessel; which has been artificially swelled beyond its

natural dimensions; and through which an unnatural proportion of

the industry and commerce of the country has been forced to

circulate; is very likely to bring on the most dangerous

disorders upon the whole body politic。 The expectation of a

rupture with the colonies; accordingly; has struck the people of

Great Britain with more terror than they ever felt for a Spanish

armada; or a French invasion。 It was this terror; whether well or

ill grounded; which rendered the repeal of the Stamp Act; among

the merchants at least; a popular measure。 In the total exclusion

from the colony market; was it to last only for a few years; the

greater part of our merchants used to fancy that they foresaw an

entire stop to their trade; the greater part of our master

manufacturers; the entire ruin of their business; and the greater

part of our workmen; an end of their employment。 A rupture with

any of our neighbours upon the continent; though likely; too; to

occasion some stop or interruption in the employments of some of

all these different orders of people; is foreseen; however;

without any such general emotion。 The blood; of which the

circulation is stopped in some of the smaller vessels; easily

disgorges itself into the greater without occasioning any

dangerous disorder; but; when it is stopped in any of the greater

vessels; convulsions; apoplexy; or death; are the immediate and

unavoidable consequences。 If but one of those overgrown

manufactures; which; by means either of bounties or of the

monopoly of the home and colony markets; have been artificially

raised up to an unnatural height; finds some small stop or

interruption in its employment; it frequently occasions a mutiny

and disorder alarming to government; and embarrassing even to the

deliberations of the legislature。 How great; therefore; would be

the disorder and confusion; it was thought; which must

necessarily be occasioned by a sudden and entire stop in the

employment of so great a proportion of our principal

manufacturers。

     Some moderate and gradual relaxation of the laws which give

to Great Britain the exclusive trade to the colonies; till it is

rendered in a great measure free; seems to be the only expedient

which can; in all future times; deliver her from this danger;

which can enable her or even force her to withdraw some part of

her capital from this overgrown employment; and to turn it;

though with less profit; towards other employments; and which; by

gradually diminishing one branch of her industry and gradually

increasing all the rest; can by degrees restore all the different

branches of it to that natural; healthful; and proper proportion

which perfect liberty necessarily establishes; and which perfect

liberty can alone preserve。 To open the colony trade all at once

to all nations might not only occasion some transitory

inconveniency; but a great permanent loss to the greater part of

those whose industry or capital is at present engaged in it。 The

sudden loss of the employment even of the ships which import the

eighty…two thousand hogsheads of tobacco; which are over and

above the consumption of Great Britain; might alone be felt very

sensibly。 Such are the unfortunate effects of all the regulations

of the mercantile system! They not only introduce very dangerous

disorders into the state of the body politic; but disorders which

it is often difficult to remedy; without occasioning for a time

at least; still greater disorders。 In what manner; therefore; the

colony trade ought gradually to be opened; what are the

restraints which ought first; and what are those which ought last

to be taken away; or in what manner the natural system of perfect

liberty and justice ought gradually to be restored; we must leave

to the wisdom of future statesmen and legislators to determine。

     Five different events; unforeseen and unthought of; have

very fortunately concurred to hinder Great Britain from feeling;

so sensibly as it was generally expected she would; the total

exclusion which has now taken place for more than a year (from

the first of December; 1774) from a very important branch of the

colony trade; that of the twelve associated provinces of North

America。 First; those colonies; in preparing themselves for their

non…importation agreement; drained Great Britain completely of

all the commodities which were fit for their market; secondly;

the extraordinary demand of the Spanish Flota has; this year;

drained Germany and the North of many commodities; linen in

particular; which used to come into competition; even in the

British market; with the manufactures of Great Britain; thirdly;

the peace between Russia and Turkey has occasioned an

extraordinary demand from the Turkey market; which; during the

distress of the country; and while a Russian fleet was cruising

in the Archipelago; had been very poorly supplied; fourthly; the

demand of the North of Europe for the manufactures of Great

Britain has been increasing from year to year for some time past;

and fifthly; the late partition and consequential pacification of

Poland; by opening the market of that great country; have this

year added an extraordinary demand from thence to the increasing

demand of the North。 These events are all; except the fourth; in

their nature transitory and accidental; and the exclusion from so

important a branch of the colony trade; if unfortunately it

should continue much longer; may still occasion some degree of

distress。 This distress; however; as it will come on gradually;

will be felt much less severely than if it had come on all at

once; and; in the meantime; the industry and capital of the

country may find a new employment and direction; so as to prevent

this distress from ever rising to any considerable height。

     The monopoly of the colony trade; therefore; so far as it

has turned towards that trade a greater proportion of the capital

of Great Britain than what would otherwise have gone to it; has

in all cases turned it; from a foreign trade of consumption with

a neighbouring into one with a more distant country; in many

cases; from a direct foreign trade of consumption into a

round…about one; and in some cases; from all foreign trade of

consumption into a carrying trade。 It has in all cases;

therefore; turned it from a direction in which it would have

maintained a greater quantity of productive labour into one in

which it can maintain a much smaller quantity。 By suiting;

besides; to one particular market only so great a part of the

industry and commerce of Great Britain; it has rendered the whole

state of that industry and commerce more precarious and less

secure than if their produce had been accommodated to a greater

variety of markets。

     We must carefully distinguish between the effects of the

colony trade and those of the monopoly of that trade。 The former

are always and necessarily beneficial; the latter always and

necessarily hurtful。 But the former are so beneficial that the

colony trade; though subject to a monopoly; and notwithstanding

the hurtful effects of that monopoly; is still upon the whole

beneficial; and greatly beneficial; though a good deal less so

than it otherwise would be。

     The effect of the colony trade in its natural and free state

is to open a great; though distant; market for such parts of the

produce of British industry as may exceed the demand of the

markets nearer home; of those of Europe; and of the countries

which lie round the Mediterranean Sea。 In its natural and free

state; the colony trade; without drawing from those markets any

part of the produce which had ever been sent to them; encourages

Great Britain to increase the surplus continually by continually

presenting new equivalents to be exchanged for it。 In its natural

and free state; the colony trade tends to increase the quantity

of productive labour in Great Britain; but without altering in

any respect the direction of that which had been employed there

before。 In the natural and free state of the colony trade; the

competition of all other nations would hinder the rate of profit

from rising above the common level either in the new market or in

the new employment。 The new market; without drawing anything from

the old one; would create; if one may say so; a new produce for

its own supply; and that new produce would constitute a new

capital for carrying on the 
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