wealbk02-第15章

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Glasgow；　of　which　the　inhabitants　are　chiefly　maintained　by　the

employment　of　capital。　The　inhabitants　of　a　large　village；　it　has

sometimes　been　observed；　after　having　made　considerable　progress

in　manufactures；　have　become　idle　and　poor　in　consequence　of　a

great　lord　having　taken　up　his　residence　in　their　neighbourhood。

　　　　　The　proportion　between　capital　and　revenue；　therefore；　seems

everywhere　to　regulate　the　proportion　between　industry　and

idleness。　Wherever　capital　predominates；　industry　prevails：

wherever　revenue；　idleness。　Every　increase　or　diminution　of

capital；　therefore；　naturally　tends　to　increase　or　diminish　the

real　quantity　of　industry；　the　number　of　productive　hands；　and

consequently　the　exchangeable　value　of　the　annual　produce　of　the

land　and　labour　of　the　country；　the　real　wealth　and　revenue　of

all　its　inhabitants。

　　　　　Capitals　are　increased　by　parsimony；　and　diminished　by

prodigality　and　misconduct。

　　　　　Whatever　a　person　saves　from　his　revenue　he　adds　to　his

capital；　and　either　employs　it　himself　in　maintaining　an

additional　number　of　productive　hands；　or　enables　some　other

person　to　do　so；　by　lending　it　to　him　for　an　interest；　that　is；

for　a　share　of　the　profits。　As　the　capital　of　an　individual　can

be　increased　only　by　what　he　saves　from　his　annual　revenue　or　his

annual　gains；　so　the　capital　of　a　society；　which　is　the　same　with

that　of　all　the　individuals　who　compose　it；　can　be　increased　only

in　the　same　manner。

　　　　　Parsimony；　and　not　industry；　is　the　immediate　cause　of　the

increase　of　capital。　Industry；　indeed；　provides　the　subject　which

parsimony　accumulates。　But　whatever　industry　might　acquire；　if

parsimony　did　not　save　and　store　up；　the　capital　would　never　be

the　greater。

　　　　　Parsimony；　by　increasing　the　fund　which　is　destined　for　the

maintenance　of　productive　hands；　tends　to　increase　the　number　of

those　hands　whose　labour　adds　to　the　value　of　the　subject　upon

which　it　is　bestowed。　It　tends；　therefore；　to　increase　the

exchangeable　value　of　the　annual　produce　of　the　land　and　labour

of　the　country。　It　puts　into　motion　an　additional　quantity　of

industry；　which　gives　an　additional　value　to　the　annual　produce。

　　　　　What　is　annually　saved　is　as　regularly　consumed　as　what　is

annually　spent；　and　nearly　in　the　same　time　too；　but　it　is

consumed　by　a　different　set　of　people。　That　portion　of　his

revenue　which　a　rich　man　annually　spends　is　in　most　cases

consumed　by　idle　guests　and　menial　servants；　who　leave　nothing

behind　them　in　return　for　their　consumption。　That　portion　which

he　annually　saves；　as　for　the　sake　of　the　profit　it　is

immediately　employed　as　a　capital；　is　consumed　in　the　same

manner；　and　nearly　in　the　same　time　too；　but　by　a　different　set

of　people；　by　labourers；　manufacturers；　and　artificers；　who

reproduce　with　a　profit　the　value　of　their　annual　consumption。

His　revenue；　we　shall　suppose；　is　paid　him　in　money。　Had　he　spent

the　whole；　the　food；　clothing；　and　lodging；　which　the　whole　could

have　purchased；　would　have　been　distributed　among　the　former　set

of　people。　By　saving　a　part　of　it；　as　that　part　is　for　the　sake

of　the　profit　immediately　employed　as　a　capital　either　by　himself

or　by　some　other　person；　the　food；　clothing；　and　lodging；　which

may　be　purchased　with　it；　are　necessarily　reserved　for　the

latter。　The　consumption　is　the　same；　but　the　consumers　are

different。

　　　　　By　what　a　frugal　man　annually　saves；　he　not　only　affords

maintenance　to　an　additional　number　of　productive　hands；　for　that

or　the　ensuing　year；　but；　like　the　founder　of　a　public　workhouse；

he　establishes　as　it　were　a　perpetual　fund　for　the　maintenance　of

an　equal　number　in　all　times　to　come。　The　perpetual　allotment　and

destination　of　this　fund；　indeed；　is　not　always　guarded　by　any

positive　law；　by　any　trust…right　or　deed　of　mortmain。　It　is

always　guarded；　however；　by　a　very　powerful　principle；　the　plain

and　evident　interest　of　every　individual　to　whom　any　share　of　it

shall　ever　belong。　No　part　of　it　can　ever　afterwards　be　employed

to　maintain　any　but　productive　hands　without　an　evident　loss　to

the　person　who　thus　perverts　it　from　its　proper　destination。

　　　　　The　prodigal　perverts　it　in　this　manner。　By　not　confining

his　expense　within　his　income；　he　encroaches　upon　his　capital。

Like　him　who　perverts　the　revenues　of　some　pious　foundation　to

profane　purposes；　he　pays　the　wages　of　idleness　with　those　funds

which　the　frugality　of　his　forefathers　had；　as　it　were；

consecrated　to　the　maintenance　of　industry。　By　diminishing　the

funds　destined　for　the　employment　of　productive　labour；　he

necessarily　diminishes；　so　far　as　it　depends　upon　him；　the

quantity　of　that　labour　which　adds　a　value　to　the　subject　upon

which　it　is　bestowed；　and；　consequently；　the　value　of　the　annual

produce　of　the　land　and　labour　of　the　whole　country；　the　real

wealth　and　revenue　of　its　inhabitants。　If　the　prodigality　of　some

was　not　compensated　by　the　frugality　of　others；　the　conduct　of

every　prodigal；　by　feeding　the　idle　with　the　bread　of　the

industrious；　tends　not　only　to　beggar　himself；　but　to　impoverish

his　country。

　　　　　Though　the　expense　of　the　prodigal　should　be　altogether　in

home…made；　and　no　part　of　it　in　foreign　commodities；　its　effect

upon　the　productive　funds　of　the　society　would　still　be　the　same。

Every　year　there　would　still　be　a　certain　quantity　of　food　and

clothing；　which　ought　to　have　maintained　productive；　employed　in

maintaining　unproductive　hands。　Every　year；　therefore；　there

would　still　be　some　diminution　in　what　would　otherwise　have　been

the　value　of　the　annual　produce　of　the　land　and　labour　of　the

country。

　　　　　This　expense；　it　may　be　said　indeed；　not　being　in　foreign

goods；　and　not　occasioning　any　exportation　of　gold　and　silver；

the　same　quantity　of　money　would　remain　in　the　country　as　before。

But　if　the　quantity　of　food　and　clothing；　which　were　thus

consumed　by　unproductive；　had　been　distributed　among　productive

hands；　they　would　have　reproduced；　together　with　a　profit；　the

full　value　of　their　consumption。　The　same　quantity　of　money　would

in　this　case　equally　have　remained　in　the　country；　and　there

would　besides　have　been　a　reproduction　of　an　equal　value　of

consumable　goods。　There　would　have　been　two　values　instead　of

one。

　　　　　The　same　quantity　of　money；　besides；　cannot　long　remain　in

any　country　in　which　the　value　of　the　annual　produce　diminishes。

The　sole　use　of　money　is　to　circulate　consumable　goods。　By　means

of　it；　provisions；　materials；　and　finished　work；　are　bought　and

sold；　and　distributed　to　their　proper　consumers。　The　quantity　of

money；　therefore；　which　can　be　annually　employed　in　any　country

must　be　determined　by　the　value　of　the　consumable　goods　annually

circulated　within　it。　These　must　consist　either　in　the　immediate

produce　of　the　land　and　labour　of　the　country　itself；　or　in

something　which　had　been；　purchased　with　some　part　of　that

produce。　Their　value；　therefore；　must　diminish　as　the　value　of

that　produce　diminishes；　and　along　with　it　the　quantity　of　money

which　can　be　employed　in　circulating　them。　But　the　money　which　by

this　annual　diminution　of　produce　is　annually　thrown　out　of

domestic　circulation　will　not　be　allowed　to　lie　idle。　The

interest　of　whoever　possesses　it　requires　that　it　should　be

employed。　But　having　no　employment　at　home；　it　will；　in　spite　of

all　laws　and　prohibitions；　be　sent　abroad；　and　employed　in

purchasing　consumable　goods　which　may　be　of　some　use　at　home。　Its

annual　exportation　will　in　this　manner　continue　for　some　time　to

add　something　to　the　annual　consumption　of　the　country　beyond　the

value　of　its　own　annual　produce。　What　in　the　days　of　its

prosperity　had　been　saved　from　that　annual　produce；　and　employed

in　purchasing　gold　and　silver；　will　contribute　for　some　little

time　to　support　its　consumption　in　adversity。　The　exportation　of

gold　and　silver　is；　in　this　case；　not　the　cause；　but　the　effect

of　its　declension；　and　may　even；　for　some　little　time；　alleviate

the　misery　of　that　declension。

　　　　　The　quantity　of　money；　on　the　contrary；　must　in　every

country　naturally　increase　as　the　value　of　the　annual　produce

increases。　The　value　of　the　consumable　goods　annually　circulated

within　the　society　being　greater　will　require　a　greater　quantity

of　money　to　circulate　them。　A　part　of　the　increased　produce；

therefore；　will　naturally　be　employed　in　purchasing；　wherever　it

is　to　be　had；　the　additional　quantity　of　gold　and　silver

necessary　for　circulating　the　rest。　The　increase　of　those　metals

will　in　this　case　be　the　effect；　not　the　cause；　of　the　public

prosperity。　Gold　and　silver　are　purchased　everywhere　in　the　same

manner。　The　food；　clothing；　and　lodging；　the　revenue　and

maintenance　of　all　those　whose　labour　or　stock　is　employed　in

bringing　them　from　the　mine　to　the　market；　is　the　price　paid　for

them　in　Peru　as　well　as　in　England。　The　country　which　has　this

price　to　pay　will　never　be　long　without　the　quantity　of　those

metals　which　it　has　occasion　for；　and　no　country　will　ever　long

retain　a　quantity　which　it　has　no　occasion　for。

　　　　　Whatever；　therefore；　we　may　imagine　the　real　wealth　and

revenue　of　a　country　to　consist　in；　whether　in　the　value　of　the

annual　produce　of　its　land　and　labour；　as　plain　reason　seems　to

dictate；　or　in　the　quantity　of　the　precious　metals　which

circulate　within　it；　as　vulgar　prejudices　suppose；　in　either　view

of　the　matter；　every　prodigal　appears　to　be　a　public　enemy；　and

every　frugal　man　a　public　benefactor。

　　　　　The　effects　of　misconduct　are　often　the　same　as　those　of

prodigality。　Every　injudicious　and　unsuccessful　project　in

agriculture；　mines；　fisheries；　trade；　or　manufactures；　tends　in

the　same　manner　to　diminish　the　funds　destined　for　the

maintenance　of　productive　labour。　In　every　such　project；　though

the　capital　is　consumed　by　productive　hands　only；　yet；　as　by　the

injudicious　manner　in　which　they　are　employed　they　do　not

reproduce　the　full　value　of　their　consumption；　there　must　always

be　some　diminution　in　what　would　otherwise　have　been　the

productive　funds　of　the　society。

　　　　　It　can　seldom　happen；　indeed；　that　the　circumstances　of　a

great　nation　can　be　much　affected　either　by　the　prodigality　or

misconduct　of　individuals；　the　profusion　or　imprudence　of　some

being　always　more　than　compensated　by　the　frugality　and　good

conduct　of　others。

　　　　　With　regard　to　profusion；　the　principle　which　prompts　to

expense　is　the　passion　for　present　enjoyment；　which；　though

sometimes　violent　and　very　difficult　to　be　restrained；　is　in

general　only　momentary　and　occasional。　But　the　principle　which

prompts　to　save　is　the　desire　of　bettering　our　condition；　a

desire　which；　though　generally　calm　and　dispassionate；　comes　with

us　from　the　womb；　and　never　leaves　us　till　we　go　into　the　grave。

In　the　whole　interval　which　separates　those　two　moments；　there　is

scarce　perhaps　a　single　instant　in　which　any　man　is　so　perfectly

and　completely　satisfied　with　his　situation　as　to　be　without　any

wish　of　alteration　or　improvement　of　any　kind。　An　augmentation　of

fortune　is　the　means　by　w