按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！
productive labour than any equal capital employed in
manufactures； but in proportion； too； to the quantity of
productive labour which it employs； it adds a much greater value
to the annual produce of the land and labour of the country； to
the real wealth and revenue of its inhabitants。 Of all the ways
in which a capital can be employed； it is by far the most
advantageous to the society。
The capitals employed in the agriculture and in the retail
trade of any society must always reside within that society。
Their employment is confined almost to a precise spot； to the
farm and to the shop of the retailer。 They must generally； too；
though there are some exceptions to this； belong to resident
members of the society。
The capital of a wholesale merchant； on the contrary； seems
to have no fixed or necessary residence anywhere； but may wander
about from place to place； according as it can either buy cheap
or sell dear。
The capital of the manufacturer must no doubt reside where
the manufacture is carried on； but where this shall be is not
always necessarily determined。 It may frequently be at a great
distance both from the place where the materials grow； and from
that where the complete manufacture is consumed。 Lyons is very
distant both from the places which afford the materials of its
manufactures； and from those which consume them。 The people of
fashion in Sicily are clothed in silks made in other countries；
from the materials which their own produces。 Part of the wool of
Spain is manufactured in Great Britain； and some part of that
cloth is afterwards sent back to Spain。
Whether the merchant whose capital exports the surplus
produce of any society be a native or a foreigner is of very
little importance。 If he is a foreigner； the number of their
productive labourers is necessarily less than if he had been a
native by one man only； and the value of their annual produce by
the profits of that one man。 The sailors or carriers whom he
employs may still belong indifferently either to his country or
to their country； or to some third country； in the same manner as
if he had been a native。 The capital of a foreigner gives a value
to their surplus produce equally with that of a native by
exchanging it for something for which there is a demand at home。
It as effectually replaces the capital of the person who produces
that surplus； and as effectually enables him to continue his
business； the service by which the capital of a wholesale
merchant chiefly contributes to support the productive labour；
and to augment the value of the annual produce of the society to
which he belongs。
It is of more consequence that the capital of the
manufacturer should reside within the country。 It necessarily
puts into motion a greater quantity of productive labour； and
adds a greater value to the annual produce of the land and labour
of the society。 It may； however； be very useful to the country；
though it should not reside within it。 The capitals of the
British manufacturers who work up the flax and hemp annually
imported from the coasts of the Baltic are surely very useful to
the countries which produce them。 Those materials are a part of
the surplus produce of those countries which； unless it was
annually exchanged for something which is in demand there； would
be of no value； and would soon cease to be produced。 The
merchants who export it replace the capitals of the people who
produce it； and thereby encourage them to continue the
production； and the British manufacturers replace the capitals of
those merchants。
A particular country； in the same manner as a particular
person； may frequently not have capital sufficient both to
improve and cultivate all its lands； to manufacture and prepare
their whole rude produce for immediate use and consumption； and
to transport the surplus part either of the rude or manufactured
produce to those distant markets where it can be exchanged for
something for which there is a demand at home。 The inhabitants of
many different parts of Great Britain have not capital sufficient
to improve and cultivate all their lands。 The wool of the
southern counties of Scotland is； a great part of it； after a
long land carriage through very bad roads； manufactured in
Yorkshire； for want of capital to manufacture it at home。 There
are many little manufacturing towns in Great Britain； of which
the inhabitants have not capital sufficient to transport the
produce of their own industry to those distant markets where
there is demand and consumption for it。 If there are any
merchants among them； they are properly only the agents of
wealthier merchants who reside in some of the greater commercial
cities。
When the capital of any country is not sufficient for all
those three purposes； in proportion as a greater share of it is
employed in agriculture； the greater will be the quantity of
productive labour which it puts into motion within the country；
as will likewise be the value which its employment adds to the
annual produce of the land and labour of the society。 After
agriculture； the capital employed in manufactures puts into
motion the greatest quantity of productive labour； and adds the
greatest value to the annual produce。 That which is employed in
the trade of exportation has the least effect of any of the
three。
The country； indeed； which has not capital sufficient for
all those three purposes has not arrived at that degree of
opulence for which it seems naturally destined。 To attempt；
however； prematurely and with an insufficient capital to do all
the three is certainly not the shortest way for a society； no
more than it would be for an individual； to acquire a sufficient
one。 The capital of all the individuals of a nation has its
limits in the same manner as that of a single individual； and is
capable of executing only certain purposes。 The capital of all
the individuals of a nation is increased in the same manner as
that of a single individual by their continually accumulating and
adding to it whatever they save out of their revenue。 It is
likely to increase the fastest； therefore； when it is employed in
the way that affords the greatest revenue to all the inhabitants
of the country； as they will thus be enabled to make the greatest
savings。 But the revenue of all the inhabitants of the country is
necessarily in proportion to the value of the annual produce of
their land and labour。
It has been the principal cause of the rapid progress of our
American colonies towards wealth and greatness that almost their
whole capitals have hitherto been employed in agriculture。 They
have no manufactures； those household and courser manufactures
excepted which necessarily accompany the progress of agriculture；
and which are the work of the women and children in every private
family。 The greater part both of the exportation and coasting
trade of America is carried on by the capitals of merchants who
reside in Great Britain。 Even the stores and warehouses from
which goods are retailed in some provinces； particularly in
Virginia and Maryland； belong many of them to merchants who
reside in the mother country； and afford one of the few instances
of the retail trade of a society being carried on by the capitals
of those who are not resident members of it。 Were the Americans；
either by combination or by any other sort of violence； to stop
the importation of European manufactures； and； by thus giving a
monopoly to such of their own countrymen as could manufacture the
like goods； divert any considerable part of their capital into
this employment； they would retard instead of accelerating the
further increase in the value of their annual produce； and would
obstruct instead of promoting the progress of their country
towards real wealth and greatness。 This would be still more the
case were they to attempt； in the same manner； to monopolize to
themselves their whole exportation trade。
The course of human prosperity； indeed； seems scarce ever to
have been of so long continuance as to enable any great country
to acquire capital sufficient for all those three purposes；
unless perhaps； we give credit to the wonderful accounts of the
wealth and cultivation of China； of those of ancient Egypt； and
of the ancient state of Indostan。 Even those three countries； the
wealthiest； according to all accounts； that ever were in the
world； are chiefly renowned for their superiority in agriculture
and manufactures。 They do not appear to have been eminent for
foreign trade。 The ancient Egyptians had a superstitious
antipathy to the sea； a superstition nearly of the same kind
prevails among the Indians； and the Chinese have never excelled
in foreign commerce。 The greater part of the surplus produce of
all those three countries seems to have been always exported by
foreigners； who gave in exchange for it something else for which
they found a demand there； frequently gold and silver。
It is thus that the same capital will in any country put
into motion a grea