An Inquiry Into the Nature and Causes of the Wealth of NationsSmith, Adam
General
An Inquiry Into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
The manufacture of linen in Scotland, and that of coarse woollens in the
West Riding of Yorkshire, are growing manufactures, of which the produce
is generally, though with some variations, increasing both in quantity
and value. Upon examining, however, the accounts which have been
published of their annual produce, I have not been able to observe that
its variations have had any sensible connection with the dearness or
cheapness of the seasons. In 1740, a year of great scarcity, both
manufactures, indeed, appear to have declined very considerably. But in
1756, another year of great scarcity, the Scotch manufactures made more
than ordinary advances. The Yorkshire manufacture, indeed, declined, and
its produce did not rise to what it had been in 1755, till 1766, after
the repeal of the American stamp act. In that and the following year, it
greatly exceeded what it had ever been before, and it has continued to
advance ever since.
The produce of all great manufactures for distant sale must necessarily
depend, not so much upon the dearness or cheapness of the seasons in the
countries where they are carried on, as upon the circumstances which
affect the demand in the countries where they are consumed; upon peace
or war, upon the prosperity or declension of other rival manufactures,
and upon the good or bad humour of their principal customers. A great
part of the extraordinary work, besides, which is probably done in cheap
years, never enters the public registers of manufactures. The
men-servants, who leave their masters, become independent labourers.
The women return to their parents, and commonly spin, in order to make
clothes for themselves and their families. Even the independent workmen
do not always work for public sale, but are employed by some of their
neighbours in manufactures for family use. The produce of their labour,
therefore, frequently makes no figure in those public registers, of
which the records are sometimes published with so much parade, and from
which our merchants and manufacturers would often vainly pretend to
announce the prosperity or declension of the greatest empires.
Public-domain text, read in full here on John Shaqi.
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