David Ricardo：On the Principles of Political Economy and Taxation, Excerpt 312

Adam Smith however, speaks of the carrying trade as one not of choice, but of necessity; as if the capital engaged in it would be inert if not so employed, as if the capital in the home trade could overflow, if not confined to a limited amount. He says, "when the capital stock of any country is increased to such a degree, _that it cannot be all employed in supplying the consumption, and supporting the productive labour of that particular country_, the surplus part of it naturally disgorges itself into the carrying trade, and is employed in performing the same offices to other countries."

Source： https://www.gutenberg.org/ebooks/33310
Locator：Excerpt 312 · Verified：2026-10-19 · Verification：Short excerpt

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