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Title:  An inquiry into the nature and causes of the wealth of nations: By Adam Smith, ... In two volumes. ... [pt.1]
Author: Smith, Adam, 1723-1790.
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IN a country which had acquired its full complement of riches, where in every particular branch of business there was the greatest quantity of stock that could be employed in it, as the ordinary rate of clear profit would be very small, so the usual market rate of interest which could be afforded out of it, would be so low as to render it impossible for any but the very wealthiest people to live upon the interest of their money. All people of small or middling fortunes would be obliged to superintend themselves the employment of their own stocks. It would be necessary that almost every man should be a man of business, or engage in some sort of trade. The province of Holland seems to be approach|ing near to this state. It is there unfashionable not to be a man of business. Necessity makes it usual for almost every man to be so, and custom every where regulates fashion. As it is ridiculous not to dress, so is it, in some measure, not to be employed, like other people. As a man of a civil profession seems aukward in a camp or a garrison, and is even in some danger of being despised there, so does an idle man among men of business.THE highest ordinary rate of profit may be such as, in the price of the greater part of commodities, eats up the whole of what should go to the rent of the land, and leaves only what is suffi|cient to pay the labour of preparing and bringing them to market, according to the lowest rate at which labour can any where be paid, the bare subsistence of the labourer. The workman must always have been fed in some way or other while he was about the work; but the landlord may not always have been paid. The profits of the trade which the servants of the East India Com|pany carry on in Bengal may not perhaps be very far from this rate.THE proportion which the usual market rate of interest ought to bear to the ordinary rate of clear profit, necessarily varies as 0