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
proportion to what would be necessary for its complete cultivation, being
very frequently overstocked in proportion to its actual produce. A portion
of this waste land, however, after having been pastured in this wretched
manner for six or seven years together, may be ploughed up, when it will
yield, perhaps, a poor crop or two of bad oats, or of some other coarse
grain; and then, being entirely exhausted, it must be rested and pastured
again as before, and another portion ploughed up, to be in the same manner
exhausted and rested again in its turn. Such, accordingly, was the general
system of management all over the low country of Scotland before the
Union. The lands which were kept constantly well manured and in good
condition seldom exceeded a third or fourth part of the whole farm, and
sometimes did not amount to a fifth or a sixth part of it. The rest were
never manured, but a certain portion of them was in its turn,
notwithstanding, regularly cultivated and exhausted. Under this system of
management, it is evident, even that part of the lands of Scotland which
is capable of good cultivation, could produce but little in comparison of
what it may be capable of producing. But how disadvantageous soever this
system may appear, yet, before the Union, the low price of cattle seems to
have rendered it almost unavoidable. If, notwithstanding a great rise in
the price, it still continues to prevail through a considerable part of
the country, it is owing in many places, no doubt, to ignorance and
attachment to old customs, but, in most places, to the unavoidable
obstructions which the natural course of things opposes to the immediate
or speedy establishment of a better system: first, to the poverty of the
tenants, to their not having yet had time to acquire a stock of cattle
sufficient to cultivate their lands more completely, the same rise of
price, which would render it advantageous for them to maintain a greater
stock, rendering it more difficult for them to acquire it; and, secondly,
to their not having yet had time to put their lands in condition to
maintain this greater stock properly, supposing they were capable of
acquiring it. The increase of stock and the improvement of land are two
events which must go hand in hand, and of which the one can nowhere much
outrun the other. Without some increase of stock, there can be scarce any
improvement of land, but there can be no considerable increase of stock,
but in consequence of a considerable improvement of land; because
otherwise the land could not maintain it. These natural obstructions to
the establishment of a better system, cannot be removed but by a long
course of frugality and industry; and half a century or a century more,
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