An Inquiry into the Nature and Causes of the Wealth of NationsSmith, Adam
History
An Inquiry into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
But in the twelve years preceding 1764 including that year, the average
price of the same measure of the best wheat at the same market was £
2:1:9½d.
In the first twelve years of the last century, therefore, wheat appears to
have been a good deal cheaper, and butcher’s meat a good deal dearer, than
in the twelve years preceding 1764, including that year.
In all great countries, the greater part of the cultivated lands are
employed in producing either food for men or food for cattle. The rent and
profit of these regulate the rent and profit of all other cultivated land.
If any particular produce afforded less, the land would soon be turned
into corn or pasture; and if any afforded more, some part of the lands in
corn or pasture would soon be turned to that produce.
Those productions, indeed, which require either a greater original expense
of improvement, or a greater annual expense of cultivation in order to fit
the land for them, appear commonly to afford, the one a greater rent, the
other a greater profit, than corn or pasture. This superiority, however,
will seldom be found to amount to more than a reasonable interest or
compensation for this superior expense.
In a hop garden, a fruit garden, a kitchen garden, both the rent of the
landlord, and the profit of the farmer, are generally greater than in
acorn or grass field. But to bring the ground into this condition requires
more expense. Hence a greater rent becomes due to the landlord. It
requires, too, a more attentive and skilful management. Hence a greater
profit becomes due to the farmer. The crop, too, at least in the hop and
fruit garden, is more precarious. Its price, therefore, besides
compensating all occasional losses, must afford something like the profit
of insurance. The circumstances of gardeners, generally mean, and always
moderate, may satisfy us that their great ingenuity is not commonly
over-recompensed. Their delightful art is practised by so many rich people
for amusement, that little advantage is to be made by those who practise
it for profit; because the persons who should naturally be their best
customers, supply themselves with all their most precious productions.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account