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M M

OMMERCE

is an opmtion, by whieh the wcalth , tane fOI fuperRuities not being in proportion to it, th,'

or work, either of

individu.ls,

or of (ocieties, may (peeie IVas loeked up,

This

was·th~

cafe in Europe

exchanged, by a fet of men called merchants, for four hundred years ago. A oelV lane (or fuperRuilY ha.

In equivalent, proper for lilpplying evcry IVant, without dralVn, perhaps, more money into circulation, from OUI

a.oy

interruption to indunry, or any check upon conrump- OIVO trea(ures, than from the mines of the new wor/d,

1I0n,

The poor opinion IVe entertaio of the riehes of our fore-

We (hall begin hy

tracir.~

commcree to its (ource, io fathm, is founded upon the modero way of enimating

nrder tO reduce il

ils firll principies.

wealth, by Ihe quanlily of coio in circulation, froOl

The mon fimplc of all !rade, is Ihat which is carried

whic~,

lVe cone/ude, that Ihe grealell part of the fpecie

on by banering Ihe necerrary arrie/es of fubGllence, If nolV

our hands mun have come from' America,

\Ve

(uppo(~

Ihe canh free lo Ihc lirn polfcrrar, Ihis per-

11 !s more, Ihetefore, Ih rough Ihe Idae of fuperRuilY,

fon ",ho cultivales il will lirfl dralV from il his food, and IhJn

conftquence of Ihe quanlily of coinl Ihal Irade

the furph,! ,viII be Ihe ohjell of baner: he will give Ihis comes to be ellabliO,ed; and it is only in confequence of

in exchange

any one who IVill fupply his other wants, llade Ihat "ve fee indunry carry Ihings in our dayl 10 fo

This naturally fuppofes both a furplus quantilY of food high a pilCh of refinement and delicacy. Let us illuflralo

produced by labour,' and alfo free hands; for he who this, by comparing togethcr .the diffcrenl operalions of

nlakfs a trdde of agriculture cannol fllpply Ilimfclf wilh baner, fale, and commerce,

all olher necerraries, as IVell as food; and he who makes

When reciprocal IVams are fupplied by barter, Ihere is

a trade of lilpplying Ih< farmels wilh (uch necerrories, in not Ihe fmallen occafion for money: t"is is the mon fim o,

exchange for his fur plus of food, cannot be <mployed in plc of all combinatioos.

producing

th~t

tOod. The more the necerr,ties of man

When wams are multiplied, banering becomcs more

increafe, Ihe more free hands are required to fupply diJlicult; upon this money is imroduced. This is the.

them; and the more free bands are reqllired, Ihe more eommOD price of all Ihings: it is a prorer equivalenl in

fllrplus food mull be produced by adultiooal labour, ro Ihe hands of thofe IVbo IVant, perfellly calculated 10 fup–

fupply their demand,

ply Ihe oceafions of Ihofe who, by iodunry, can relieve

This is the lean complex kind of tndc, and, may be them. This oremion of buying and felling is a liule

carried on to a greater or lefs eXte"l,

dílferent coun- more complex than Ihe formerj but Ilill IVe have here

tríes, according to Ihe dilferent degrees of the wants to no idea of Irade, becaufe IVe have

no~

inlroduced the

be fllppl ied, In a eoulltry where there is no money, rnerchant, by whofe indunry it is ca'rried on,

nor any Ihing equivalenl 10 It, the wants of mankind will

Let Ihis Ihird perfon be brought into play, and the

be confined

fci. objells

Wil, the removing the whole operalion becomes ,e/ear. What before lVe called

inconvenienci" of hunger, Ihirfl, cold, hear, danger, wams, is here reprefented by rhe confumer ' what we

and the like, A frce man, who, by his indllflry, can callee!- indunry, by lhe manufallu rer; what 'IVe caJled

procure alllhe comfom of a fimple life, will enjoy his money, by the merchant. The

mer~hant

here reprefenl'

reH, and work no more : and, in general, all increafe of Ihe money, by fubllituling credit inits place; aod as Ihe

work will ceore, fo (oon as rhe demand fo r rhe purpofes mOlley was invented to facilime baner, fo the merchant,

memioned comes 10 be falisfied, Therc is a plain reafon IVilh his credit, is a oew rennenttnt opon the ufe of mo–

for Ihis, ""hen Ihe free hands haTe procurcd, by thei r ney, This renders it Ilill more effe,'lual in perfonning

labour, wherewi,hal tO (upply their wanlS, their ambi- the operalicns of buying and fell ing. This opcration is

lion is fatisfi,d: fo foon as the hu(bandmen have produ- trade: it relieves bOlh partie! of the whole trouble of

ced the necetraey furplus fOI re/ieving Iheirs, they work tnn(ponation, and adjulling wams 10 wanlS, or want! to

no more. Here then is a oatural Itop pUl to indultry, moner; Ihe merchant reprefents by turo, botlt the con–

coolCquently 10 barrering.

fumer, the manufallu rer, and the money, To Ihe con_

The nexllhing 10

examined is, how bartering growl fumer he appear.; as the ",hole body of manufa/lu rm·

ioto trade, properly (o called and undernood, according to the OIaoufallurers as the IVhole body of confumers ;

to Ihe definition given of it above; how trade comes to ami to Ihe one and

~h~

other:c1afs his credil lilpplics Ihe

be eXlended among men ; how maoufaftures, more orna- . ufe of money, Thls rs fuRiclent at prefenl for 3n illu–

mental than ureful, come 10 bc eflablilhed; aod how men ílration, We oow returo to Ihe fimple operations of

come 10 fubmit to labour, io order 10 acquire IVhat is not money in the hands

rhe two contralling panic!, Iho

ahfolul~ly

necerruy for Ihem.

bllyer an.! the feller, In order to (how holV men come to

This, in

free fociety, is chiefly owing lO thc intro- (ubmit 10 labour io order 10 acquire fuperOuilies,

dllétioo of money, and a talle for fuperHuitics in Ihofe

So foon

money

inlroduccd inlo a couotry, it be-

",ho pOrrer! il.

comes an ulllver(.1obJell of wam to all the inhabilams

óIllcient limcs, money was Dot waoting

but Ihe

Tbe confe'lucDce is, that Ihe free hands of the

flate~

whG>