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
houses, to make their own household furniture, their own clothes, shoes,
and instruments of agriculture. The few artificers among them are said
to have been all maintained by the sovereign, the nobles, and the
priests, and were probably their servants or slaves. All the ancient
arts of Mexico and Peru have never furnished one single manufacture to
Europe. The Spanish armies, though they scarce ever exceeded five
hundred men, and frequently did not amount to half that number, found
almost everywhere great difficulty in procuring subsistence. The famines
which they are said to have occasioned almost wherever they went, in
countries, too, which at the same time are represented as very populous
and well cultivated, sufficiently demonstrate that the story of this
populousness and high cultivation is in a great measure fabulous. The
Spanish colonies are under a government in many respects less favourable
to agriculture, improvement, and population, than that of the English
colonies. They seem, however, to be advancing in all those much more
rapidly than any country in Europe. In a fertile soil and happy climate,
the great abundance and cheapness of land, a circumstance common to all
new colonies, is, it seems, so great an advantage, as to compensate many
defects in civil government. Frezier, who visited Peru in 1713,
represents Lima as containing between twenty-five and twenty-eight
thousand inhabitants. Ulloa, who resided in the same country between
1740 and 1746, represents it as containing more than fifty thousand. The
difference in their accounts of the populousness of several other
principal towns of Chili and Peru is nearly the same; and as there seems
to be no reason to doubt of the good information of either, it marks an
increase which is scarce inferior to that of the English colonies.
America, therefore, is a new market for the produce of its own silver
mines, of which the demand must increase much more rapidly than that of
the most thriving country in Europe.
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