wealbk02-第2章

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divides　itself　into　the　same　three　portions；　each　of　which　has　a

distinct　function　or　office。

　　　　　The　first　is　that　portion　which　is　reserved　for　immediate

consumption；　and　of　which　the　characteristic　is；　that　it　affords

no　revenue　or　profit。　It　consists　in　the　stock　of　food；　clothes；

household　furniture；　etc。；　which　have　been　purchased　by　their

proper　consumers；　but　which　are　not　yet　entirely　consumed。　The

whole　stock　of　mere　dwelling…houses　too；　subsisting　at　any　one

time　in　the　country；　make　a　part　of　this　first　portion。　The　stock

that　is　laid　out　in　a　house；　if　it　is　to　be　the　dwellinghouse　of

the　proprietor；　ceases　from　that　moment　to　serve　in　the　function

of　a　capital；　or　to　afford　any　revenue　to　its　owner。　A

dwellinghouse；　as　such；　contributes　nothing　to　the　revenue　of　its

inhabitant；　and　though　it　is；　no　doubt；　extremely　useful　to　him；

it　is　as　his　clothes　and　household　furniture　are　useful　to　him；

which；　however；　makes　a　part　of　his　expense；　and　not　of　his

revenue。　If　it　is　to　be　let　to　a　tenant　for　rent；　as　the　house

itself　can　produce　nothing；　the　tenant　must　always　pay　the　rent

out　of　some　other　revenue　which　he　derives　either　from　labour；　or

stock；　or　land。　Though　a　house；　therefore；　may　yield　a　revenue　to

its　proprietor；　and　thereby　serve　in　the　function　of　a　capital　to

him；　it　cannot　yield　any　to　the　public；　nor　serve　in　the　function

of　a　capital　to　it；　and　the　revenue　of　the　whole　body　of　the

people　can　never　be　in　the　smallest　degree　increased　by　it。

Clothes；　and　household　furniture；　in　the　same　manner；　sometimes

yield　a　revenue；　and　thereby　serve　in　the　function　of　a　capital

to　particular　persons。　In　countries　where　masquerades　are　common；

it　is　a　trade　to　let　out　masquerade　dresses　for　a　night。

Upholsterers　frequently　let　furniture　by　the　month　or　by　the

year。　Undertakers　let　the　furniture　of　funerals　by　the　day　and　by

the　week。　Many　people　let　furnished　houses；　and　get　a　rent；　not

only　for　the　use　of　the　house；　but　for　that　of　the　furniture。　The

revenue；　however；　which　is　derived　from　such　things　must　always

be　ultimately　drawn　from　some　other　source　of　revenue。　Of　all

parts　of　the　stock；　either　of　an　individual；　or　of　a　society；

reserved　for　immediate　consumption；　what　is　laid　out　in　houses　is

most　slowly　consumed。　A　stock　of　clothes　may　last　several　years：

a　stock　of　furniture　half　a　century　or　a　century：　but　a　stock　of

houses；　well　built　and　properly　taken　care　of；　may　last　many

centuries。　Though　the　period　of　their　total　consumption；　however；

is　more　distant；　they　are　still　as　really　a　stock　reserved　for

immediate　consumption　as　either　clothes　or　household　furniture。

　　　　　The　second　of　the　three　portions　into　which　the　general

stock　of　the　society　divides　itself；　is　the　fixed　capital；　of

which　the　characteristic　is；　that　it　affords　a　revenue　or　profit

without　circulating　or　changing　masters。　It　consists　chiefly　of

the　four　following　articles：

　　　　　First；　of　all　useful　machines　and　instruments　of　trade　which

facilitate　and　abridge　labour：

　　　　　Secondly；　of　all　those　profitable　buildings　which　are　the

means　of　procuring　a　revenue；　not　only　to　their　proprietor　who

lets　them　for　a　rent；　but　to　the　person　who　possesses　them　and

pays　that　rent　for　them；　such　as　shops；　warehouses；　workhouses；

farmhouses；　with　all　their　necessary　buildings；　stables；

granaries；　etc。　These　are　very　different　from　mere　dwelling

houses。　They　are　a　sort　of　instruments　of　trade；　and　may　be

considered　in　the　same　light：

　　　　　Thirdly；　of　the　improvements　of　land；　of　what　has　been

profitably　laid　out　in　clearing；　draining；　enclosing；　manuring；

and　reducing　it　into　the　condition　most　proper　for　tillage　and

culture。　An　improved　farm　may　very　justly　be　regarded　in　the　same

light　as　those　useful　machines　which　facilitate　and　abridge

labour；　and　by　means　of　which　an　equal　circulating　capital　can

afford　a　much　greater　revenue　to　its　employer。　An　improved　farm

is　equally　advantageous　and　more　durable　than　any　of　those

machines；　frequently　requiring　no　other　repairs　than　the　most

profitable　application　of　the　farmer's　capital　employed　in

cultivating　it：

　　　　　Fourthly；　of　the　acquired　and　useful　abilities　of　all　the

inhabitants　or　members　of　the　society。　The　acquisition　of　such

talents；　by　the　maintenance　of　the　acquirer　during　his　education；

study；　or　apprenticeship；　always　costs　a　real　expense；　which　is　a

capital　fixed　and　realized；　as　it　were；　in　his　person。　Those

talents；　as　they　make　a　part　of　his　fortune；　so　do　they　likewise

of　that　of　the　society　to　which　he　belongs。　The　improved

dexterity　of　a　workman　may　be　considered　in　the　same　light　as　a

machine　or　instrument　of　trade　which　facilitates　and　abridges

labour；　and　which；　though　it　costs　a　certain　expense；　repays　that

expense　with　a　profit。

　　　　　The　third　and　last　of　the　three　portions　into　which　the

general　stock　of　the　society　naturally　divides　itself；　is　the

circulating　capital；　of　which　the　characteristic　is；　that　it

affords　a　revenue　only　by　circulating　or　changing　masters。　It　is

composed　likewise　of　four　parts：

　　　　　First；　of　the　money　by　means　of　which　all　the　other　three

are　circulated　and　distributed　to　their　proper　consumers：

　　　　　Secondly；　of　the　stock　of　provisions　which　are　in　the

possession　of　the　butcher；　the　grazier；　the　farmer；　the

corn…merchant；　the　brewer；　etc。；　and　from　the　sale　of　which　they

expect　to　derive　a　profit：

　　　　　Thirdly；　of　the　materials；　whether　altogether　rude；　or　more

or　less　manufactured；　of　clothes；　furniture；　and　building；　which

are　not　yet　made　up　into　any　of　those　three　shapes；　but　which

remain　in　the　hands　of　the　growers；　the　manufacturers；　the

mercers　and　drapers；　the　timber　merchants；　the　carpenters　and

joiners；　the　brickmakers；　etc。

　　　　　Fourthly；　and　lastly；　of　the　work　which　is　made　up　and

completed；　but　which　is　still　in　the　hands　of　the　merchant　or

manufacturer；　and　not　yet　disposed　of　or　distributed　to　the

proper　consumers；　such　as　the　finished　work　which　we　frequently

find　ready…made　in　the　shops　of　the　smith；　the　cabinet…maker；　the

goldsmith；　the　jeweller；　the　china…merchant；　etc。　The　circulating

capital　consists　in　this　manner；　of　the　provisions；　materials；

and　finished　work　of　all　kinds　that　are　in　the　hands　of　their

respective　dealers；　and　of　the　money　that　is　necessary　for

circulating　and　distributing　them　to　those　who　are　finally　to　use

or　to　consume　them。

　　　　　Of　these　four　parts；　three…　provisions；　materials；　and

finished　work…　are；　either　annually；　or　in　a　longer　or　shorter

period；　regularly　withdrawn　from　it；　and　placed　either　in　the

fixed　capital　or　in　the　stock　reserved　for　immediate　consumption。

　　　　　Every　fixed　capital　is　both　originally　derived　from；　and

requires　to　be　continually　supported　by　a　circulating　capital。

All　useful　machines　and　instruments　of　trade　are　originally

derived　from　a　circulating　capital；　which　furnishes　the　materials

of　which　they　are　made；　and　the　maintenance　of　the　workmen　who

make　them。　They　require；　too；　a　capital　of　the　same　kind　to　keep

them　in　constant　repair。

　　　　　No　fixed　capital　can　yield　any　revenue　but　by　means　of　a

circulating　capital。　The　most　useful　machines　and　instruments　of

trade　will　produce　nothing　without　the　circulating　capital　which

affords　the　materials　they　are　employed　upon；　and　the　maintenance

of　the　workmen　who　employ　them。　Land；　however　improved；　will

yield　no　revenue　without　a　circulating　capital；　which　maintains

the　labourers　who　cultivate　and　collect　its　produce。

　　　　　To　maintain　and　augment　the　stock　which　may　be　reserved　for

immediate　consumption　is　the　sole　end　and　purpose　both　of　the

fixed　and　circulating　capitals。　It　is　this　stock　which　feeds；

clothes；　and　lodges　the　people。　Their　riches　or　poverty　depends

upon　the　abundant　or　sparing　supplies　which　those　two　capitals

can　afford　to　the　stock　reserved　for　immediate　consumption。

　　　　　So　great　a　part　of　the　circulating　capital　being　continually

withdrawn　from　it；　in　order　to　be　placed　in　the　other　two

branches　of　the　general　stock　of　the　society；　it　must　in　its　turn

require　continual　supplies；　without　which　it　would　soon　cease　to

exist。　These　supplies　are　principally　drawn　from　three　sources；

the　produce　of　land；　of　mines；　and　of　fisheries。　These　afford

continual　supplies　of　provisions　and　materials；　of　which　part　is

afterwards　wrought　up　into　finished　work；　and　by　which　are

replaced　the　provisions；　materials；　and　finished　work　continually

withdrawn　from　the　circulating　capital。　From　mines；　too；　is　drawn

what　is　necessary　for　maintaining　and　augmenting　that　part　of　it

which　consists　in　money。　For　though；　in　the　ordinary　course　of

business；　this　part　is　not；　like　the　other　three；　necessarily

withdrawn　from　it；　in　order　to　be　placed　in　the　other　two

branches　of　the　general　stock　of　the　society；　it　must；　however；

like　all　other　things；　be　wasted　and　worn　out　at　last；　and

sometimes；　too；　be　either　lost　or　sent　abroad；　and　must；

therefore；　require　continual；　though；　no　doubt；　much　smaller

supplies。

　　　　　Land；　mines；　and　fisheries；　require　all　both　a　fixed　and　a

circulating　capital　to　cultivate　them；　and　their　produce　replaces

with　a　profit；　not　only　those　capitals；　but　all　the　others　in　the

society。　Thus　the　farmer　annually　replaces　to　the　manufacturer

the　provisions　which　he　had　consumed　and　the　materials　which　be

had　wrought　up　the　year　before；　and　the　manufacturer　replaces　to

the　farmer　the　finished　work　which　he　had　wasted　and　worn　out　in

the　same　time。　This　is　the　real　exchange　that　is　annually　made

between　those　two　orders　of　people；　though　it　seldom　happens　that

the　rude　produce　of　the　one　and　the　manufactured　produce　of　the

other；　are　directly　bartered　for　one　another；　because　it　seldom

happens　that　the　farmer　sells　his　corn　and　his　cattle；　his　flax

and　his　wool；　to　the　very　same　person　of　whom　he　chooses　to

purchase　the　clothes；　furniture；　and　instruments　of　trade　which

he　wants。　He　sells；　therefore；　his　rude　produce　for　money；　with

which　he　can　purchase；　wherever　it　is　to　be　had；　the　manufactured

produce　he　has　occasion　for。　Land　even　replaces；　in　part　at

least；　the　capitals　with　which　fisheries　and　mines　are

cultivated。　It　is　the　produce　of　land　which　draws　the　fish　from

the　waters；　and　it　is　the　produce　of　the　surface　of　the　earth

which　extracts　the　minerals　from　its　bowels。

　　　　　The　produce　of　land；　mines；　and　fisheries；　when　their

natural　fertility　is　equal；　is　in　proportion　to　the　extent　and

proper　application　of　the　capitals　employed　about　them。　When　the

capitals　are　equal　and　equally　well　applied；　it　is　in　proportion

to　their　natural　fertility。

　　　　　In　all　countries　where　there　is　tolerable　security；　every

man　of　common　understanding　will　endeavour　to　employ　whatever

stock　he　can　command　in　procuring　either　present　enjoyment　or

future　profit。　If　it　is　employed　in　procuring　present　enjoyment；

it　is　a　stock　reserved　for　immediate　consumption。　If　it　is

employed　in　procuring　future　profit；　it　must　procure　this　profit

either　staying　with　him；　or　by　going　from　him。　In　the　on