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abundance additional advantage afford alteration amount appears Bank bank notes become bill bullion capital cause cent circulation circumstances cloth coin commodities compared consequence considerable considered consumer continue cost cultivation currency debt demand depend diminished effect employed employment England equal exchange expenses exportation fall farmer fixed foreign fund give given gold Government greater importation improvement income increased interest issued labour land landlord less limited loan lower machinery manufacturer means measure metals millions natural price necessary never notes object obliged observed obtained occasion operation opinion ounce paid payment period population portion present price of corn principle probably profits proportion purchase quantity quantity of labour quarters raise raw produce receive reduced regulated rent rise sell shillings silver sinking Smith society standard supply suppose things tion trade variations wages whole
Page 170 - What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage.
Page 100 - Every tax ought to be so contrived as both to take out and to keep out of the pockets of the people as Little as possible, over and above what it brings into the public treasury of the state.
Page 46 - The friends of humanity cannot but wish that in all countries the labouring classes should have a taste for comforts and enjoyments, and that they should be stimulated by all legal means in their exertions to procure them. There cannot be a better security against a superabundant population.
Page 224 - IT is the cost of production which must ultimately regulate the price of commodities, and not, as has been often said, the proportion between the supply and demand : the proportion between supply and demand may, indeed, for a time, affect the market value of a commodity, until it is supplied in greater or less abundance, according as the demand may have increased or diminished ; but this effect will be only of temporary duration.
Page 26 - Rent is that portion of the produce of the earth which is paid to the landlord for the use of the original and indestructible powers of the soil.
Page 32 - The capital employed in agriculture, therefore, not only puts into motion a greater quantity of productive labour than any equal capital employed in manufactures ; but in proportion, too, to the quantity of productive labour which it employs, it adds a much greater value to the annual produce of the land and labour of the country, to the real wealth and revenue of its inhabitants.
Page 42 - The natural price of labour is that price which is necessary to enable the labourers, one with another, to subsist and to perpetuate their race, without either increase or diminution.
Page 46 - In those countries where the labouring classes have the fewest wants, and are contented with the cheapest food, the people are exposed to the greatest vicissitudes and miseries. They have no place of refuge from calamity; they cannot seek safety in a lower station; they are already so low that they can fall no lower. On any deficiency of the chief article of their subsistence there are few substitutes of which they can avail themselves and dearth to them is attended with almost all the evils of famine.