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
Those other parts of the produce of land, however, which afterwards
afford rent, do not afford it always. Even in improved and cultivated
countries, the demand for them is not always such as to afford a greater
price than what is sufficient to pay the labour, and replace, together
with its ordinary profits, the stock which must be employed in bringing
them to market. Whether it is or is not such, depends upon different
circumstances.
Whether a coal mine, for example, can afford any rent, depends partly
upon its fertility, and partly upon its situation.
A mine of any kind may be said to be either fertile or barren, according
as the quantity of mineral which can be brought from it by a certain
quantity of labour, as greater or less than what can be brought by an
equal quantity from the greater part of other mines of the same kind.
Some coal mines, advantageously situated, cannot be wrought on account
of their barrenness. The produce does not pay the expense. They can
afford neither profit nor rent.
There are some, of which the produce is barely sufficient to pay the
labour, and replace, together with its ordinary profits, the stock
employed in working them. They afford some profit to the undertaker of
the work, but no rent to the landlord. They can be wrought
advantageously by nobody but the landlord, who, being himself the
undertaker of the work, gets the ordinary profit of the capital which he
employs in it. Many coal mines in Scotland are wrought in this manner,
and can be wrought in no other. The landlord will allow nobody else to
work them without paying some rent, and nobody can afford to pay any.
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.
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