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demand for most sorts of plain linen and woollen cloth is pretty
uniform； so is likewise the price。 But there are other
employments in which the same quantity of industry will not
always produce the same quantity of commodities。 The same
quantity of industry； for example； will； in different years；
produce very different quantities of corn； wine； hops； sugar；
tobacco； etc。 The price of such commodities； therefore； varies
not only with the variations of demand； but with the much greater
and more frequent variations of quantity； and is consequently
extremely fluctuating。 But the profit of some of the dealers must
necessarily fluctuate with the price of the commodities。 The
operations of the speculative merchant are principally employed
about such commodities。 He endeavours to buy them up when he
foresees that their price is likely to rise； and to sell them
when it is likely to fall。
Thirdly； this equality in the whole of the advantages and
disadvantages of the different employments of labour and stock
can take only in such as are the sole or principal employments of
those who occupy them。
When a person derives his subsistence from one employment；
which does not occupy the greater part of his time； in the
intervals of his leisure he is often willing to work as another
for less wages than would otherwise suit the nature of the
employment。
There still subsists in many parts of Scotland a set of
people called Cotters or Cottagers； though they were more
frequent some years ago than they are now。 They are a sort of
outservants of the landlords and farmers。 The usual reward which
they receive from their masters is a house； a small garden for
pot…herbs； as much grass as will feed a cow； and； perhaps； an
acre or two of bad arable land。 When their master has occasion
for their labour； he gives them； besides； two pecks of oatmeal a
week； worth about sixteenpence sterling。 During a great part of
the year he has little or no occasion for their labour； and the
cultivation of their own little possession is not sufficient to
occupy the time which is left at their own disposal。 When such
occupiers were more numerous than they are at present； they are
said to have been willing to give their spare time for a very
small recompense to anybody； and to have wrought for less wages
than other labourers。 In ancient times they seem to have been
common all over Europe。 In countries ill cultivated and worse
inhabited； the greater part of landlords and farmers could not
otherwise provide themselves with the extraordinary number of
hands which country labour requires at certain season。 The daily
or weekly recompense which such labourers occasionally received
from their masters was evidently not the whole price of their
labour。 Their small tenement made a considerable part of it。 This
daily or weekly recompense； however； seems to have been
considered as the whole of it； by many writers who have collected
the prices of labour and provisions in ancient times； and who
have taken pleasures in representing both as wonderfully low。
The produce of such labour comes frequently cheaper to
market than would otherwise suitable to its nature。 Stockings in
many parts of Scotland are knit much cheaper than they can
anywhere be wrought upon the loom。 They are the work of servants
and labourers； who derive the principal part of their subsistence
from some other employment。 More than a thousand pair of Shetland
stockings are annually imported into Leith； of which the price is
from fivepence to sevenpence a pair。 At Lerwick； the small
capital of the Shetland Islands； tenpence a day； I have been
assured； is a common price of common labour。 In the same islands
they knit worsted stockings to the value of a guinea a pair and
upwards。
The spinning of linen yarn is carried on in Scotland nearly
in the same way as the knitting of stockings by servants； who are
chiefly hired for other purposes。 They earn but a very scanty
subsistence； who endeavour to get their whole livelihood by
either of those trades。 In most parts of Scotland she is a good
spinner who can earn twentypence a week。
In opulent countries the market is generally so extensive
that any one trade is sufficient to employ the whole labour and
stock of those who occupy it。 Instances of people's living by one
employment； and at the same time deriving some little advantage
from another； occur chiefly in poor countries。 The following
instance； however； of something of the same kind is to be found
in the capital of a very rich one。 There is no city in Europe； I
believe； in which house…rent is dearer than in London； and yet I
know no capital in which a furnished apartment can be hired as
cheap。 Lodging is not only much cheaper in London than in Paris；
it is much cheaper than in Edinburgh of the same degree of
goodness； and what may seem extraordinary； the dearness of
house…rent is the cause of the cheapness of lodging。 The dearness
of house…rent in London arises not only from those causes which
render it dear in all great capitals； the dearness of labour； the
dearness of all the materials of building； which must generally
be brought from a great distance； and above all the dearness of
ground…rent； every landlord acting the part the part of a
monopolist； and frequently exacting a higher rent for a single
acre of bad land in a town than can be had for a hundred of the
best in the country； but it arises in part from the peculiar
manners and customs of the people； which oblige every master of a
family to hire a whole house from top to bottom。 A dwelling…house
in England means everything that is contained under the same
roof。 In France； Scotland； and many other parts of Europe； it
frequently means no more than a single story。 A tradesman in
London is obliged to hire a whole house in that part of the town
where his customers live。 His shop is upon the ground…floor； and
he and his family sleep in the garret； and he endeavours to pay a
part of his house…rent by letting the two middle stories to
lodgers。 He expects to maintain his family by his trade； and not
by his lodgers。 Whereas； at Paris and Edinburgh； the people who
let lodgings have commonly no other means of subsistence and the
price of the lodging must pay； not only the rent of the house；
but the whole expense of the family。
PART 2
Inequalities by the Policy of Europe
SUCH are the inequalities in the whole of advantages and
disadvantages of the different employments of labour and stock；
which the defect of any of the three requisites above mentioned
must occasion； even where there is the most perfect liberty。 But
the policy of Europe； by not leaving things at perfect liberty；
occasions other inequalities of much greater importance。
It does this chiefly in the three following ways。 First； by
restraining the competition in some employments to a smaller
number than would otherwise be disposed to enter into them；
secondly； by increasing it in others beyond what it naturally
would be； and； thirdly； by obstructing the free circulation of
labour and stock； both from employment to employment and from
place to place。
First； the policy of Europe occasions a very important
inequality in the whole of the advantages and disadvantages of
the different employments of labour and stock； by restraining the
competition in some employments to a smaller number than might
otherwise be disposed to enter into them。
The exclusive privileges of corporations are the principal
means it makes use of for this purpose。
The exclusive privilege of an incorporated trade necessarily
restrains the competition； in the town where it is established；
to those who are free of the trade。 To have served an
apprenticeship in the town； under a master properly qualified； is
commonly the necessary requisite for obtaining this freedom。 The
bye laws of the corporation regulate sometimes the number of
apprentices which any master is allowed to have； and almost
always the number of years which each apprentice is obliged to
serve。 The intention of both regulations is to restrain the
competition to a much smaller number than might otherwise be
disposed to enter into the trade。 The limitation of the number of
apprentices restrains it directly。 A long term of apprenticeship
restrains it more indirectly； but as effectually； by increasing
the expense of education。
In Sheffield no master cutler can have more than one
apprentice at a time； by a bye law of the corporation。 In Norfolk
and Norwich no master weaver can have more than two apprentices；
under pain of forfeiting five pounds a month to the king。 No
master hatter can have more than two apprentices anywhere in
England； or in the English plantations； under pain of forfeiting
five pounds a month； half to the king and half to him who shall
sue in any court of