1000000030

1\1

thit new trade, il will have Ihe elTca of augmenting

Dumbc,s. Ao example will make lhis plaio.

Lel us fuppofe Ihe fuperRuilY of Ihis couolry 10 be Ihe

n,in. of wild beaOs, 001 proper for fo()d; Ihe manufac·

lure foughl for, branuy. The broouy is fuld for furs.

He who bas fUI s, 01' he who can fpare lime 10 hUOl for

lhem, will orink brandy in proportion: bUl Ihere is no

reafon lO conclude from lhis fimple operatioo,

Iha~

ooe

m~n

more in Ihe country muO neceITarily be fed, or Ihal

aDy augmenlalion of

~gricuhure

roun of cODfequence en·

fue froOl Ihis nelV traflic.

BUI lél us IhrolV in a circumOance IVhich may apply an

addilional confumplion al home, and lhen examioe Ihe

ooDfequences.

poor crealure who has no equivalenl. lo oITer for

food, who is miferable, and

re.dy

lO perilh for wan! of

fubfiflence, .goes a hunting, an\:! kills a IVelf; he comes

10 a farmer wilh lhe Ikio, ;nd fays, You are well fcd,

bUI you have no brandy; if you will give ñ,e a loaf, (

will give you Ihis Ikin, which Ihe flrangers are fo fond

of, and they will give you brandy. But; fays Ihe f,,,m·

er, 1 have no more bread than IVhal is fullicielll for my

own family, As for Ihat, lepliu Ihe olher, 1will come

and dig in your ground, and you and 1 will feltle our

accounl as 10 lhe fm.1I quantilY 1 dcfire of ynu . The

bargain is made; lhe poor fell olV gels his loaf, aod lives

al leaO ; perhaps he marries, aod Ihe f.rmer gm a dram.

BUI had il nOl beeo for Ihis dram, ,thal is, this new

want, which was purchafed by Ihe ioduOry of Ihis poor

fellow, by what argumenl could he have ioduced Ihe

farmer 10 parl Wilh a loaf!

Hm Ihe f;'nlÍmeol of chaniy is excluded. This a·

lone is a principIe of multiplicalion; bUl as true il is,

on lhe olher hand,

t hal , co~ld

Ihe poor fellolV have gOt

bread by begging; he would not probalily have gooe a·

hunling.

Iiere then il appears, Ihu lhe very

oalVnin~

of trad.,

in Ihe mon unpolllhed countries, implies a multiplieati9n.

This is eoough lO point om Ihe hrll flep, and 10 connea

lhe fubjea of our prefent inquiries wilh what has been

aIready difcuITed in rdation to other circumllances.

So foon as all the furs are difpofed of, and a laOe for

foperRuity is introduced, bOlh Ihe trade" and Ihe oativ(s

will be tqually inlerefled in lhe advancement of ioduOry

in Ihis country. Many oelV obje8s of profit forotbe firll

will b( oifcovmd, which the proper employment of Ihe

inhabitants, in reaping Ihe natural advaotages of Ihcir

foil and c1,mate, \ViII make efl'eaual. . The tr:\,ders \ViII

therefor~

endeavour 10 (el On foot many branches o( in–

durtry among tlie favages, and Ihe allurrments of bran ·

df, a,n19, and c1olhing, will animate thefe in Ihe purfuit

of thcm.

When once Ihis revolution is broüght auout ; when

thofe who formerly lived iofimplicity become inuuarious;

manner. pUl one a n,w faee.

That is to fay, IVe no\V find l\VO tradirg nalions in·

Oead of ooe, wi,h

I~is

difl'erence, howcver, that as hi·

theno we have fuppofed Ihe merchants all in one inlerell,

Ihe compound

dem~nd,

that is, the competitioo of Ihe

buyers, has becn, and muO Ilill conticue on Ihe fide

the nalives. This is a great prejudiee 10 Iheir inlmll;

hUI as it is not

fuppof~d

fuRicient lO check Iheir iodnOry,

nOr 10 rellrain Ihtir eonfllmption

Ihe manuf.8uft.,

Jel

liS

here examine a linle more particularly Ihe confe–

quences of the principIe of demand in fueh a fitualion •

for allhollgh \Ve allow, thal it cao never change fides;

yel it may admit of differcnl modif.c,ltions, and prcduce

ddferenl eITctts, as we fhall pref.ntly prrccive.

The merchant' we fuppoJe

.11

io olle interdl, cOAfe.

qllently there canbe no competition aOloog them; confe.

quently no check can bepllt upon their raifillg their prices,

as long as Ihepriees they demand are complted with. So

foon as they are raifed to Ihe full eXleot of the ahilitios'

of Ihe nalives, or of their inclination to buy, the n,er–

chants have Ihe choice of Ihree Ibiogs, IVhich are al! per–

fealy in Iheir option; .nd ihe preference 10 be giren 10

Ihe one or lhe other, deprnos enti rely IIpOO IheAI–

fel ves, and upoo I'he circumllancts IVe are going 10 point

out.

Firll, they may fuppon Ihey

high

demand; thal is,

not lower their p' ice; whieh will preftl've a high d lima–

lion of Ihe manufaf.lures io Iheopinion of the ioh,bilants,

arid renJer Ihe profits upon their trade Ihe

~réatcfl

polJi.

ble. This part Ihry may p"Oibly lake, if Ihey pcrceil'e'

the oatives doubling their diligence, in , rder 10 becomc

able, in lime, 10 purchafe confiderable cargoes al a high'

value; from \Vhieh fuppofilion is implied a fhong di (1'0-

filian in the peorle 10 become luxurious, fin ee nOlhiog

hut wanl of ability prevenls them from eompl),ing wilh

Ihe highdl demand : but Oill aoolher eircumOance mull

concur, 10 (ngage the merchanls nÓI tO101ler their poce.

The great proportion of the guods Ihe)' feck (or in re.

lurn, muH be (ound in ,he hands of a (eIV. l'his will

be the e"fe if Oavery be eflablilheo; for then Ihere mull,

many poor, and few rich : and Ihey are commonly the

rieh con(uOlcrs who proponion the price they offer, ra–

ther to their defirc., than lOthe value o( the lhiog.

The fecond thing \Vhich mal' be done is, 10 open Ihe

door lO a

t"al

demand; thal is, 10 lower Ihei¡ prices.'

This will fink the value o( Ihe Olanu(a8ures in Ihe opinion

o( the inhabilants, ino render prOhtS lefs in propon ion,

allhough indeed, upoo the voyage, the profilS may. be

~reater.

, This pan Ihey will lake, if they perce¡'ve Ihe inhabi.

tanlS do not incline to confume greal quanlities o( Ihe–

merehanoizc at a high value, eilher (or wanl of abiliciu

or inclinalion; aod alfo, i( Ihe yrofits upon ¡he trade de–

pend upon a large confuOlption, as is ¡he cafe in mer–

chandize o( a low value, and fuiled chiefly la the oeca–

fion, of the lower fort. Such mOlives of expediency

will be (¡,flicieol. tO make them neglea a

high

demand,

aod prefer a

greal

one; and Ihe more, when l\lere is a

likcJihood that toe confumption of low.priced goods in

¡he beginning mat begel a uOe for olhm of a higher

value, and th us exteod io generallhe laUe of fuperRuity.

A Ihird pan 10 be laken, is the leaOpolilie, anu per–

haps the otoH familiar.

is 10 profil by Ihe compeli–

lioo belween Ihe buyers, and encourage the rifing of de–

mand as long as polJible; when lhis comes la a lrop,

make a kind of auaion, by firU bringing downlhe pricu: