Essays, Moral, Political and LiteraryThis historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...oflices may be carried on to the greatest extent and intricacy. Hence the origin of merchants, one of the most useful races of men, who serve as agents between those parts of the state that are wholly unacquainted, and are ignorant of each other's necessities. Here are in a city fifty workmen in silk and linen, and a thousand customers; and these two ranks of men, so necessary to each other, can never rightly meet, till one man erects a shop, to which all the workmen and all the customers repair. In this province, grass rises in abundance: the inhabitants abound in cheese, and butter, and cattle; but want bread and corn, which, in a neighbouring province, are in too great abundance for the use of the inhabitants. One man discovers this. He brings corn from the one province, and returns with cattle; and, supplying the wants of both, he is, so far, a common benefactor. As the people increase in numbers and industry, the difliculty of their intercourse increases: the business of the agency or merchandise becomes more intricate; and divides, subdivides, compounds, and mixes to a greater variety. In all these trans actions, it is necessary and reasonable, that a considerable part of the commodities and labour should belong to the merchant, to whom, in a great measure, they are owing. And these commodities he will sometimes preserve in kind, or more commonly convert into money, which is their common representation If gold and silver have increased in the state, together with the industry, it will require a great quantity of these metals to represent a great quantity of commodities and labour. If industry alone has increased, the prices of every thing must sink, and a small quantity of specie will serve as a representation. There is no... |