Adam Smith：The Wealth of Nations, Book II, Chapter I, Paragraph 694

The third and last of the three portions into which the general stock of the society naturally divides itself, is the circulating capital, of which the characteristic is, that it affords a revenue only by circulating or changing masters. It is composed likewise of four parts.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book II, Chapter I, paragraph 694 · Verified：2026-10-19 · Verification：Exact match

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