Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
In North America, provisions are much cheaper and wages much higher
than in England. In the province of New York, common labourers earn
three shillings and sixpence currency, equal to two shillings sterling
a day.
Till after the middle of the fourteenth century, an English mason’s
wages were much higher than those of a parish priest. In spite of a
statute of Anne there are still [1776] many curacies under £20 a year.
A middling farmer in France will sometimes have 400 fowls in his yard.
Between 1339 and 1776 the price of the best English wool has fallen
from 30s. to 21s. the tod, after allowing for the changes in the
currency. The price of a yard of the finest cloth has fallen, after
making the same allowances, from £3, 3s. 6d. to £1, 1s. since 1487.
The first person that wore stockings in England is said to have been
Queen Elizabeth. She received them as a present from the Spanish
Ambassador.
What was formerly a seat of the family of Seymour, is now an inn upon
the Bath road. The marriage bed of James the First of Great Britain,
which his Queen brought with her from Denmark as a present fit for a
sovereign to make to a sovereign, was a few years ago the ornament of
an alehouse at Dunfermline.
The wool of the southern counties of Scotland is, a great part of it,
after a long land carriage through very bad roads, manufactured in
Yorkshire, for want of a capital to manufacture it at home. In
England, owing to the laws of settlement, it is often more difficult
for a poor man to pass the artificial boundary of a parish than an arm
of the sea or a ridge of high mountains.
There is no city in Europe in which house rent is dearer than in
London, and yet I know no capital in which a furnished apartment can
be hired so cheap.
At Buenos Ayres forty years ago 1s. 9½d. was the ordinary price of an
ox.
A piece of fine cloth which weighs only eighty pounds, contains in it
the price not only of eighty pounds weight of wool, but sometimes of
several thousand weight of corn, the maintenance of the different
working people, and of their immediate employers.
In the white herring fishery it has been common for vessels to fit out
for the purpose of catching not the fish but the bounty. In 1759, when
the bounty was at fifty shillings the ton, each barrel of sea sticks
cost Government in bounties alone, £113, 15s.; each barrel of
merchantable herrings £159, 7s. 6d.
The _Wealth of Nations_ is a book to be read as it was written. More
than half its nutriment and all its fascination is lost if you cut away
the theory from its historical setting.[29] Osteology is fatal to
economics. That is why the _Wealth of Nations_ is far better suited to
beginners than an ordinary child’s primer. But as the Lectures on Police
were the author’s own first draft, the reader of these pages is already
cognisant of a great part of the _Wealth of Nations_.
Public-domain text, read in full here on John Shaqi.
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