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
Other coal mines in the same country, sufficiently fertile, cannot be
wrought on account of their situation. A quantity of mineral, sufficient
to defray the expense of working, could be brought from the mine by the
ordinary, or even less than the ordinary quantity of labour: but in an
inland country, thinly inhabited, and without either good roads or
water-carriage, this quantity could not be sold.
Coals are a less agreeable fuel than wood: they are said too to be less
wholesome. The expense of coals, therefore, at the place where they are
consumed, must generally be somewhat less than that of wood.
The price of wood, again, varies with the state of agriculture, nearly in
the same manner, and exactly for the same reason, as the price of cattle.
In its rude beginnings, the greater part of every country is covered with
wood, which is then a mere incumbrance, of no value to the landlord, who
would gladly give it to any body for the cutting. As agriculture advances,
the woods are partly cleared by the progress of tillage, and partly go to
decay in consequence of the increased number of cattle. These, though they
do not increase in the same proportion as corn, which is altogether the
acquisition of human industry, yet multiply under the care and protection
of men, who store up in the season of plenty what may maintain them in
that of scarcity; who, through the whole year, furnish them with a greater
quantity of food than uncultivated nature provides for them; and who, by
destroying and extirpating their enemies, secure them in the free
enjoyment of all that she provides. Numerous herds of cattle, when allowed
to wander through the woods, though they do not destroy the old trees,
hinder any young ones from coming up; so that, in the course of a century
or two, the whole forest goes to ruin. The scarcity of wood then raises
its price. It affords a good rent; and the landlord sometimes finds that
he can scarce employ his best lands more advantageously than in growing
barren timber, of which the greatness of the profit often compensates the
lateness of the returns. This seems, in the present times, to be nearly
the state of things in several parts of Great Britain, where the profit of
planting is found to be equal to that of either corn or pasture. The
advantage which the landlord derives from planting can nowhere exceed, at
least for any considerable time, the rent which these could afford him;
and in an inland country, which is highly cultivated, it will frequently
not fall much short of this rent. Upon the sea-coast of a well-improved
country, indeed, if coals can conveniently be had for fuel, it may
sometimes be cheaper to bring barren timber for building from less
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