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Adam Smith agriculture Alexander Hamilton annual produce Book bounties Britain British capital British Empire capital employed carrying trade chap chapter commercial commodities considered consumer Corn Laws customs duties customs union defence difficulty economic effect employment of capital England equal example expense export trade favour foreign countries foreign trade freedom of trade greater high duties home country home industries home labour home market home producer home trade imperial federation imposed increase interests internal free trade kind labour and capital land and labour manufactures means mercantile system mercantilist merchants method monopoly Moral Sentiments mother country national advantage natural conditions Navigation Act necessary particular passage point of view political economy present principle productive labour prohibitions protectionist rate of profit realised regards retaliation revenue self-governing colonies society surplus taxation taxes theory tion towns trade of consumption United Kingdom unproductive wages Wealth of Nations whole
Page 266 - Act, which is similar, either in material, quality, texture, or the use to which it may be applied, to any article enumerated in this Act as chargeable with duty, shall pay the same rate of duty which is levied on the enumerated article which it most resembles in any of the particulars before mentioned...
Page 118 - Consumption is the sole end and purpose of all production ; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer.
Page 116 - It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.
Page 14 - It is not impossible, therefore, that some of the regulations of this famous act may have proceeded from national animosity. They are as wise, however, as if they had all been dictated by the most deliberate wisdom. National animosity at that particular time aimed at the very same object which the most deliberate wisdom would have recommended, the diminution of the naval power of Holland, the only naval power which could endanger the security of England.
Page 186 - The discovery of America, and that of a passage to the East Indies by the Cape of Good Hope, are the two greatest and most important events recorded in the history of mankind.
Page iii - The rulers of Great Britain have, for more than a century past, amused the people with the imagination "that they possessed a great empire on the west side of the Atlantic. This empire, however, has hitherto existed in imagination only. It has hitherto been, not an empire, but the project of an empire; not a gold mine, but the project of a gold mine...
Page 109 - It is certainly not employed to the greatest advantage when it is thus directed towards an object which it can buy cheaper than it can make. The value of its annual produce is certainly more or less diminished, when it is thus turned away from producing commodities evidently of more value than the commodity which it is directed to produce.
Page 138 - The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Page 80 - There may be good policy in retaliations of this kind, when there is a probability that they will procure the repeal of the high duties or prohibitions complained of. The recovery of a great foreign market will generally more than compensate the transitory inconveniency of paying dearer during a short time for some sorts of goods.