Investing · Western classics
Adam Smith:The Wealth of Nations, Book V, Chapter III, Paragraph 2164
Adam Smith《The Wealth of Nations》· Book V, Chapter III · Investing
The proprietor of land is interested, for the sake of his own revenue, to keep his estate in as good condition as he can, by building and repairing his tenants houses, by making and maintaining the necessary drains and inclosures, and all those other expensive improvements which it properly belongs to the landlord to make and maintain. But, by different land taxes, the revenue of the landlord may be so much diminished, and, by different duties upon the necessaries and conveniencies of life, that diminished revenue may be rendered of so little real value, that he may find himself altogether unable to make or maintain those expensive improvements. When the landlord, however, ceases to do his part, it is altogether impossible that the tenant should continue to do his. As the distress of the landlord increases, the agriculture of the country must necessarily decline.
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https://www.gutenberg.org/ebooks/3300
Locator:Book V, Chapter III, paragraph 2164 · Verified:2026-10-19 · Verification:Exact match
This is a direct reading: the original and source are kept; commentary will be added later.
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