Adam Smith：The Wealth of Nations, Book II, Chapter I, Paragraph 685

In other works a much greater fixed capital is required. In a great iron-work, for example, the furnace for melting the ore, the forge, the slit-mill, are instruments of trade which cannot be erected without a very great expense. In coal works, and mines of every kind, the machinery necessary, both for drawing out the water, and for other purposes, is frequently still more expensive.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter I, paragraph 685 · Verified：2026-10-19 · Verification：Exact match

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