按键盘上方向键 ← 或 → 可快速上下翻页，按键盘上的 Enter 键可回到本书目录页，按键盘上方向键 ↑ 可回到本页顶部！
————未阅读完？加入书签已便下次继续阅读！
such as to enable the labourer to purchase a quantity of corn
sufficient to maintain him and his family either in the liberal；
moderate； or scanty manner in which the advancing； stationary； or
declining circumstances of the society oblige his employers 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 proportion to that of corn； though this proportion
is different in different periods。 It regulates； for example； the
money price of grass and hay； of butcher's meat； of horses； and
the maintenance of horses； of land carriage consequently； or of
the greater part of the inland commerce of the country。
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 regulating the money price of labour；
it regulates that of manufacturing art and industry。 And by
regulating both； it regulates that of the complete manufacture。
The money price of labour； and of everything that is the produce
either of land or labour； must necessarily either rise or fall in
proportion to the money price of corn。
Though in consequence of the bounty； therefore； the farmer
should be enabled to sell his corn for four shillings a bushel
instead of three…and…sixpence； and to pay his landlord a money
rent proportionable to this rise in the money price of his
produce； yet if； in consequence of this rise in the price of
corn； four shillings will purchase no more homemade goods of any
other kind than three…and…sixpence would have done before；
neither the circumstances of the farmer nor those of the landlord
will be much mended by this change。 The farmer will not be able
to cultivate much better： the landlord will not be able to live
much better。 In the purchase of foreign commodities this
enhancement in the price of corn may give them some little
advantage。 In that of home…made commodities it can give them none
at all。 And almost the whole expense of the farmer； and the far
greater part even of that of the landlord； is in homemade
commodities。
That degradation in the value of silver which is the effect
of the fertility of the mines； and which operates equally； or
very near equally； through the greater part of the commercial
world； is a matter of very little consequence to any particular
country。 The consequent rise of all money prices； though it does
not make those who receive them really richer； does make them
really poorer。 A service of plate becomes really cheaper； and
everything else remains precisely of the same real value as
before。
But that degradation in the value of silver which； being the
effect either of the peculiar situation or of the political
institutions of a particular country； takes place only in that
country； is a matter of very great consequence； which； far from
tending to make anybody really richer； tends to make everybody
really poorer。 The rise in the money price of all commodities；
which is in this case peculiar to that country； tends to
discourage more or less every sort of industry which is carried
on within it； and to enable foreign nations； by furnishing almost
all sorts of goods for a smaller quantity of silver than its own
workmen can afford to do； to undersell them； not only in the
foreign； but even in the home market。
It is the peculiar situation of Spain and Portugal as
proprietors of the mines to be the distributors of gold and
silver to all the other countries of Europe。 Those metals ought
naturally； therefore； to be somewhat cheaper in Spain and
Portugal than in any other part of Europe。 The difference；
however； should be no more than the amount of the freight and
insurance； and； on account of the great value and small bulk of
those metals； their freight is no great matter； and their
insurance is the same as that of any other goods of equal value。
Spain and Portugal； therefore； could suffer very little from
their peculiar situation； if they did not aggravate its
disadvantages by their political institutions。
Spain by taxing； and Portugal by prohibiting the exportation
of gold and silver； load that exportation with the expense of
smuggling； and raise the value of those metals in other countries
so much more above what it is in their own by the whole amount of
this expense。 When you dam up a stream of water； as soon as the
dam is full as much water must run over the dam…head as if there
was no dam at all。 The prohibition of exportation cannot detain a
greater quantity of gold and silver in Spain and Portugal than
what they can afford to employ； than what the annual produce of
their land and labour will allow them to employ； in coin； plate；
gilding； and other ornaments of gold and silver。 When they have
got this quantity the dam is full； and the whole stream which
flows in afterwards must run over。 The annual exportation of gold
and silver from Spain and Portugal accordingly is； by all
accounts； notwithstanding these restraints； very near equal to
the whole annual importation。 As the water； however； must always
be deeper behind the dam…head than before it； so the quantity of
gold and silver which these restraints detain in Spain and
Portugal must； in proportion to the annual produce of their land
and labour； be greater than what is to be found in other
countries。 The higher and stronger the dam…head； the greater must
be the difference in the depth of water behind and before it。 The
higher the tax； the higher the penalties with which the
prohibition is guarded； the more vigilant and severe the police
which looks after the execution of the law； the greater must be
the difference in the proportion of gold and silver to the annual
produce of the land and labour of Spain and Portugal； and to that
of other countries。 It is said accordingly to be very
considerable； and that you frequently find there a profusion of
plate in houses where there is nothing else which would； in other
countries； be thought suitable or correspondent to this sort of
magnificence。 The cheapness of gold and silver； or what is the
same thing； the dearness of all commodities； which is the
necessary effect of this redundancy of the precious metals；
discourages both the agriculture and manufactures of Spain and
Portugal； and enables foreign nations to supply them with many
sorts of rude； and with almost all sorts of manufactured produce；
for a smaller quantity of gold and silver than what they
themselves can either raise or make them for at home。 The tax and
prohibition operate in two different ways。 They not only lower
very much the value of the precious metals in Spain and Portugal；
but by detaining there a certain quantity of those metals which
would otherwise flow over other countries； they keep up their
value in those other countries somewhat above what it otherwise
would be； and thereby give those countries a double advantage in
their commerce with Spain and Portugal。 Open the flood…gates； and
there will presently be le