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that the value of the daily； monthly； and yearly consumption of
this class was exactly equal to that of its daily； monthly； and
yearly production； yet it would not from thence follow that its
labour added nothing to the real revenue； to the real value of
the annual produce of the land and labour of the society。 An
artificer； for example； who； in the first six months after
harvest； executes ten pounds' worth of work； though he should in
the same time consume ten pounds' worth of corn and other
necessaries； yet really adds the value of ten pounds to the
annual produce of the land and labour of the society。 While he
has been consuming a half…yearly revenue of ten pounds' worth of
corn and other necessaries； he has produced an equal value of
work capable of purchasing； either to himself or some other
person； an equal half…yearly revenue。 The value； therefore； of
what has been consumed and produced during these six months is
equal； not to ten； but to twenty pounds。 It is possible； indeed；
that no more than ten pounds' worth of this value may ever have
existed at any one moment of time。 But if the ten pounds' worth
of corn and other necessaties； which were consumed by the
artificer； had been consumed by a soldier or by a menial servant；
the value of that part of the annual produce which existed at the
end of the six months would have been ten pounds less than it
actually is in consequence of the labour of the artificer。 Though
the value of what the artificer produces； therefore； should not
at any one moment of time be supposed greater than the value he
consumes； yet at every moment of time the actually existing value
of goods in the market is； in consequence of what he produces；
greater than it otherwise would be。
When the patrons of this system assert that the consumption
of artificers； manufacturers； and merchants is equal to the value
of what they produce； they probably mean no more than that their
revenue； or the fund destined for their consumption； is equal to
it。 But if they had expressed themselves more accurately； and
only asserted that the revenue of this class was equal to the
value of what they produced； it might readily have occurred to
the reader that what would naturally be saved out of this revenue
must necessarily increase more or less the real wealth of the
society。 In order； therefore； to make out something like an
argument； it was necessary that they should express themselves as
they have done； and this argument； even supposing things actually
were as it seems to presume them to be； turns out to be a very
inconclusive one。
Fourthly； farmers and country labourers can no more augment；
without parsimony； the real revenue； the annual produce of the
land and labour of their society； than artificers； manufacturers；
and merchants。 The annual produce of the land and labour of any
society can be augmented only in two ways； either； first； by some
improvement in the productive powers of the useful labour
actually maintained within it； or； secondly； by some increase in
the quantity of that labour。
The improvement in the productive powers of useful labour
depend； first； upon the improvement in the ability of the
workman； and； secondly； upon that of the machinery with which he
works。 But the labour of artificers and manufacturers； as it is
capable of being more subdivided； and the labour of each workman
reduced to a greater simplicity of operation than that of farmers
and country labourers； so it is likewise capable of both these
sorts of improvements in a much higher degree。 In this respect；
therefore； the class of cultivators can have no sort of advantage
over that of artificers and manufacturers。
The increase in the quantity of useful labour actually
employed within any society must depend altogether upon the
increase of the capital which employs it； and the increase of
that capital again must be exactly equal to the amount of the
savings from the revenue； either of the particular persons who
manage and direct the employment of that capital； or of some
other persons who lend it to them。 If merchants； artificers； and
manufacturers are； as this system seems to suppose； naturally
more inclined to parsimony and saving than proprietors and
cultivators； they are； so far； more likely to augment the
quantity of useful labour employed within their society； and
consequently to increase its real revenue； the annual produce of
its land and labour。
Fifthly and lastly； though the revenue of the inhabitants of
every country was supposed to consist altogether； as this system
seems to suppose； in the quantity of subsistence which their
industry could procure to them； yet； even upon this supposition；
the revenue of a trading and manufacturing country must； other
things being equal； always be much greater than that of one
without trade or manufactures。 By means of trade and
manufactures； a greater quantity of subsistence can be annually
imported into a particular country than what its own lands； in
the actual state of their cultivation； could afford。 The
inhabitants of a town； though they frequently possess no lands of
their own； yet draw to themselves by their industry such a
quantity of the rude produce of the lands of other people as
supplies them； not only with the materials of their work； but
with the fund of their subsistence。 What a town always is with
regard to the country in its neighbourhood； one independent state
or country may frequently be with regard to other independent
states or countries。 It is thus that Holland draws a great part
of its subsistence from other countries； live cattle from
Holstein and Jutland； and corn from almost all the different
countries of Europe。 A small quantity of manufactured produce
purchases a great quantity of rude produce。 A trading and
manufacturing country； therefore； naturally purchases with a
small part of its manufactured produce a great part of the rude
produce of other countries； while； on the contrary； a country
without trade and manufactures is generally obliged to purchase；
at the expense of a great part of its rude produce； a very small
part of the manufactured produce of other countries。 The one
exports what can subsist and accommodate but a very few； and
imports the subsistence and accommodation of a great number。 The
other exports the accommodation and subsistence of a great
number； and imports that of a very few only。 The inhabitants of
the one must always enjoy a much greater quantity of subsistence
than what their own lands； in the actual state of their
cultivation； could afford。 The inhabitants of the other must
always enjoy a much smaller quantity。
This system； however； with all its imperfections is；
perhaps； the nearest approximation to the truth that has yet been
published upon the subject of political economy； and is upon that
account well worth the consideration of every man who wishes to
examine with attention the principles of that very important
science。 Though in representing the labour which is employed upon
land as the