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The two sorts of restraints upon importation above mentioned, together with these four encouragements to exportation, constitute the six principal…

That this monopoly of the home market frequently gives great encouragement to that particular species of industry which enjoys it, and frequently…

First, every individual endeavours to employ his capital as near home as he can, and consequently as much as he can in the support of domestic…

The produce of industry is what it adds to the subject or materials upon which it is employed. In proportion as the value of this produce is great or…

What is the species of domestic industry which his capital can employ, and of which the produce is likely to be of the greatest value, every…

Though, for want of such regulations, the society should never acquire the proposed manufacture, it would not upon that account necessarily be the…

First, It might always be known with great exactness, how far the price of such a commodity could be enhanced by such a tax; but how far the…

Thirdly, and lastly, There is no certain criterion by which we can determine on which side what is called the balance between any two countries lies,…

Before 1609, the great quantity of clipt and worn foreign coin which the extensive trade of Amsterdam brought from all parts of Europe, reduced the…

Deposits of bullion are most commonly made when the price is somewhat lower than ordinary, and they are taken out again when it happens to rise. In…

The proportions between the bank price, the mint price, and the market price of gold bullion, are nearly the same. A person can generally sell his…

The person who, by making a deposit of bullion, obtains both a bank credit and a receipt, pays his bills of exchange as they become due, with his…

No demand can be made upon the bank, but by means of a recipice or receipt. The smaller mass of bank money, for which the receipts are expired, is…

What may be the amount of the treasure in the bank, is a question which has long employed the speculations of the curious. Nothing but conjecture can…

This balance of produce and consumption is entirely different from what is called the balance of trade. It might take place in a nation which had…

The revenue of the customs, instead of suffering, profits from such drawbacks, by that part of the duty which is retained. If the whole duties had…

Bounties upon exportation are, in Great Britain, frequently petitioned for, and sometimes granted, to the produce of particular branches of…

The trades, it is to be observed, which are carried on by means of bounties, are the only ones which can be carried on between two nations for any…

In years of plenty, it has already been observed, the bounty, by occasioning an extraordinary exportation, necessarily keeps up the price of corn…

That in the actual state of tillage the bounty must necessarily have this tendency, will not, I apprehend, be disputed by any reasonable person.…

The real effect of the bounty is not so much to raise the real value of corn, as to degrade the real value of silver; or to make an equal quantity of…

It regulates the money price of labour, which must always be such as to enable the labourer to purchase a quantity of corn sufficient to maintain him…

It regulates the money price of all the other parts of the rude produce of land, which, in every period of improvement, must bear a certain…

By regulating the money price of all the other parts of the rude produce of land, it regulates that of the materials of almost all manufactures; by…

That degradation in the value of silver, which is the effect of the fertility of the mines, and which operates equally, or very nearly equally,…

But that degradation in the value of silver, which, being the effect either of the peculiar situation or of the political institutions of a…

The bounty, as it raises in the home market, not so much the real, as the nominal price of our corn; as it augments, not the quantity of labour which…

Something like a bounty upon production, however, has been granted upon some particular occasions. The tonnage bounties given to the white herring…

The trade of the corn merchant is composed of four different branches, which, though they may sometimes be all carried on by the same person, are, in…

When the government, in order to remedy the inconveniencies of a dearth, orders all the dealers to sell their corn at what it supposes a reasonable…

The wholesale dealer, by affording a ready market to the manufacturer, by taking his goods off his hand as fast as he can make them, and by sometimes…

The rigour of this law was afterwards softened by several subsequent statutes, which successively permitted the engrossing of corn when the price…

The 15th of Charles II. c. 7, however, with all its imperfections, has, perhaps, contributed more, both to the plentiful supply of the home market,…

The proportion of the average quantity of all sorts of grain imported into Great Britain to that of all sorts of grain consumed, it has been computed…

The average quantity of all sorts of grain exported from Great Britain does not, according to the same author, exceed the one-and-thirtieth part of…

By the 22d of Charles II. c. 13, the importation of wheat, whenever the price in the home market did not exceed 53s:4d. the quarter, was subjected to…

IV. The trade of the merchant-carrier, or of the importer of foreign corn, in order to export it again, contributes to the plentiful supply of the…

By this statute, the high duties upon importation for home consumption are taken off, so soon as the price of middling wheat rises to 48s. the…

The same statute permits, at the lowest prices, the importation of corn in order to be exported again, duty free, provided it is in the mean time…

Our merchants were, some years ago, out of humour with the crown of Portugal. Some privileges which had been granted them, not by treaty, but by…

Let us suppose, however, that the whole was on account of Great Britain, and that it amounted to a still greater sum than Mr Barretti seems to…

When the tax upon a commodity is so moderate as not to encourage smuggling, the merchant who deals in it, though he advances, does not properly pay…

Some of the foregoing reasonings and observations might, perhaps, have been more properly placed in those chapters of the first book which treat of…

The Venetians, during the fourteenth and fifteenth centuries, carried on a very advantageous commerce in spiceries and other East India goods,…

Fourthly, In the disposal of their surplus produce, or of what is over and above their own consumption, the English colonies have been more favoured,…

In a country quite covered with wood, where timber consequently is of little or no value, the expense of clearing the ground is the principal…

In a country neither half peopled nor half cultivated, cattle naturally multiply beyond the consumption of the inhabitants, and are often, upon…

Sugar was originally an enumerated commodity, which could only be exported to Great Britain; but in 1751, upon a representation of the sugar-planters…

The most perfect freedom of trade is permitted between the British colonies of America and the West Indies, both in the enumerated and in the…

The liberality of England, however, towards the trade of her colonies, has been confined chiefly to what concerns the market for their produce,…

When those establishments were effectuated, and had become so considerable as to attract the attention of the mother country, the first regulations…

The discovery and colonization of America, it will readily be allowed, have contributed to augment the industry, first, of all the countries which…

This double effect of drawing capital from all other trades, and of raising the rate of profit somewhat higher than it otherwise would have been in…

Secondly, This monopoly has necessarily contributed to keep up the rate of profit, in all the different branches of British trade, higher than it…

But whatever raises, in any country, the ordinary rate of profit higher than it otherwise would be, necessarily subjects that country both to an…

It subjects her to an absolute disadvantage; because, in such branches of trade, her merchants cannot get this greater profit without selling…

It subjects her to a relative disadvantage; because, in such branches of trade, it sets other countries, which are not subject to the same absolute…

Our merchants frequently complain of the high wages of British labour, as the cause of their manufactures being undersold in foreign markets; but…

It is in this manner that the capital of Great Britain, one may justly say, has partly been drawn and partly been driven from the greater part of the…

It has partly been drawn from those branches of trade, by the attraction of superior profit in the colony trade, in consequence of the continual…