wealbk01-第11章

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never　bear　any　regular　proportion　to　the　capital　of　which　he

oversees　the　management；　and　the　owner　of　this　capital；　though　he

is　thus　discharged　of　almost　all　labour；　still　expects　that　his

profits　should　bear　a　regular　proportion　to　his　capital。　In　the

price　of　commodities；　therefore；　the　profits　of　stock　constitute

a　component　part　altogether　different　from　the　wages　of　labour；

and　regulated　by　quite　different　principles。

　　　　　In　this　state　of　things；　the　whole　produce　of　labour　does

not　always　belong　to　the　labourer。　He　must　in　most　cases　share　it

with　the　owner　of　the　stock　which　employs　him。　Neither　is　the

quantity　of　labour　commonly　employed　in　acquiring　or　producing

any　commodity；　the　only　circumstance　which　can　regulate　the

quantity　which　it　ought　commonly　to　purchase；　command；　or

exchange　for。　An　additional　quantity；　it　is　evident；　must　be　due

for　the　profits　of　the　stock　which　advanced　the　wages　and

furnished　the　materials　of　that　labour。

　　　　　As　soon　as　the　land　of　any　country　has　all　become　private

property；　the　landlords；　like　all　other　men；　love　to　reap　where

they　never　sowed；　and　demand　a　rent　even　for　its　natural　produce。

The　wood　of　the　forest；　the　grass　of　the　field；　and　all　the

natural　fruits　of　the　earth；　which；　when　land　was　in　common；　cost

the　labourer　only　the　trouble　of　gathering　them；　come；　even　to

him；　to　have　an　additional　price　fixed　upon　them。　He　must　then

pay　for　the　licence　to　gather　them；　and　must　give　up　to　the

landlord　a　portion　of　what　his　labour　either　collects　or

produces。　This　portion；　or；　what　comes　to　the　same　thing；　the

price　of　this　portion；　constitutes　the　rent　of　land；　and　in　the

price　of　the　greater　part　of　commodities　makes　a　third　component

part。

　　　　　The　real　value　of　all　the　different　component　parts　of

price；　it　must　be　observed；　is　measured　by　the　quantity　of　labour

which　they　can；　each　of　them；　purchase　or　command。　Labour

measures　the　value　not　only　of　that　part　of　price　which　resolves

itself　into　labour；　but　of　that　which　resolves　itself　into　rent；

and　of　that　which　resolves　itself　into　profit。

　　　　　In　every　society　the　price　of　every　commodity　finally

resolves　itself　into　some　one　or　other；　or　all　of　those　three

parts；　and　in　every　improved　society；　all　the　three　enter　more　or

less；　as　component　parts；　into　the　price　of　the　far　greater　part

of　commodities。

　　　　　In　the　price　of　corn；　for　example；　one　part　pays　the　rent　of

the　landlord；　another　pays　the　wages　or　maintenance　of　the

labourers　and　labouring　cattle　employed　in　producing　it；　and　the

third　pays　the　profit　of　the　farmer。　These　three　parts　seem

either　immediately　or　ultimately　to　make　up　the　whole　price　of

corn。　A　fourth　part；　it　may　perhaps　be　thought；　is　necessary　for

replacing　the　stock　of　the　farmer；　or　for　compensating　the　wear

and　tear　of　his　labouring　cattle；　and　other　instruments　of

husbandry。　But　it　must　be　considered　that　the　price　of　any

instrument　of　husbandry；　such　as　a　labouring　horse；　is　itself

made　up　of　the　same　three　parts；　the　rent　of　the　land　upon　which

he　is　reared；　the　labour　of　tending　and　rearing　him；　and　the

profits　of　the　farmer　who　advances　both　the　rent　of　this　land；

and　the　wages　of　this　labour。　Though　the　price　of　the　corn；

therefore；　may　pay　the　price　as　well　as　the　maintenance　of　the

horse；　the　whole　price　still　resolves　itself　either　immediately

or　ultimately　into　the　same　three　parts　of　rent；　labour；　and

profit。

　　　　　In　the　price　of　flour　or　meal；　we　must　add　to　the　price　of

the　corn；　the　profits　of　the　miller；　and　the　wages　of　his

servants；　in　the　price　of　bread；　the　profits　of　the　baker；　and

the　wages　of　his　servants；　and　in　the　price　of　both；　the　labour

of　transporting　the　corn　from　the　house　of　the　farmer　to　that　of

the　miller；　and　from　that　of　the　miner　to　that　of　the　baker；

together　with　the　profits　of　those　who　advance　the　wages　of　that

labour。

　　　　　The　price　of　flax　resolves　itself　into　the　same　three　parts

as　that　of　corn。　In　the　price　of　linen　we　must　add　to　this　price

the　wages　of　the　flaxdresser；　of　the　spinner；　of　the　weaver；　of

the　bleacher；　etc。；　together　with　the　profits　of　their　respective

employers。

　　　　　As　any　particular　commodity　comes　to　be　more　manufactured；

that　part　of　the　price　which　resolves　itself　into　wages　and

profit　comes　to　be　greater　in　proportion　to　that　which　resolves

itself　into　rent。　In　the　progress　of　the　manufacture；　not　only

the　number　of　profits　increase；　but　every　subsequent　profit　is

greater　than　the　foregoing；　because　the　capital　from　which　it　is

derived　must　always　be　greater。　The　capital　which　employs　the

weavers；　for　example；　must　be　greater　than　that　which　employs　the

spinners；　because　it　not　only　replaces　that　capital　with　its

profits；　but　pays；　besides；　the　wages　of　the　weavers；　and　the

profits　must　always　bear　some　proportion　to　the　capital。

　　　　　In　the　most　improved　societies；　however；　there　are　always　a

few　commodities　of　which　the　price　resolves　itself　into　two　parts

only；　the　wages　of　labour；　and　the　profits　of　stock；　and　a　still

smaller　number；　in　which　it　consists　altogether　in　the　wages　of

labour。　In　the　price　of　sea…fish；　for　example；　one　part　pays　the

labour　of　the　fishermen；　and　the　other　the　profits　of　the　capital

employed　in　the　fishery。　Rent　very　seldom　makes　any　part　of　it；

though　it　does　sometimes；　as　I　shall　show　hereafter。　It　is

otherwise；　at　least　through　the　greater　part　of　Europe；　in　river

fisheries。　A　salmon　fishery　pays　a　rent；　and　rent；　though　it

cannot　well　be　called　the　rent　of　land；　makes　a　part　of　the　price

of　a　salmon　as　well　as　wages　and　profit。　In　some　parts　of

Scotland　a　few　poor　people　make　a　trade　of　gathering；　along　the

sea…shore；　those　little　variegated　stones　commonly　known　by　the

name　of　Scotch　Pebbles。　The　price　which　is　paid　to　them　by　the

stone…cutter　is　altogether　the　wages　of　their　labour；　neither

rent　nor　profit　make　any　part　of　it。

　　　　　But　the　whole　price　of　any　commodity　must　still　finally

resolve　itself　into　some　one　or　other；　or　all　of　those　three

parts；　as　whatever　part　of　it　remains　after　paying　the　rent　of

the　land；　and　the　price　of　the　whole　labour　employed　in　raising；

manufacturing；　and　bringing　it　to　market；　must　necessarily　be

profit　to　somebody。

　　　　　As　the　price　or　exchangeable　value　of　every　particular

commodity；　taken　separately；　resolves　itself　into　some　one　or

other　or　all　of　those　three　parts；　so　that　of　all　the　commodities

which　compose　the　whole　annual　produce　of　the　labour　of　every

country；　taken　complexly；　must　resolve　itself　into　the　same　three

parts；　and　be　parcelled　out　among　different　inhabitants　of　the

country；　either　as　the　wages　of　their　labour；　the　profits　of

their　stock；　or　the　rent　of　their　land。　The　whole　of　what　is

annually　either　collected　or　produced　by　the　labour　of　every

society；　or　what　comes　to　the　same　thing；　the　whole　price　of　it；

is　in　this　manner　originally　distributed　among　some　of　its

different　members。　Wages；　profit；　and　rent；　are　the　three

original　sources　of　all　revenue　as　well　as　of　all　exchangeable

value。　All　other　revenue　is　ultimately　derived　from　some　one　or

other　of　these。

　　　　　Whoever　derives　his　revenue　from　a　fund　which　is　his　own；

must　draw　it　either　from　his　labour；　from　his　stock；　or　from　his

land。　The　revenue　derived　from　labour　is　called　wages。　That

derived　from　stock；　by　the　person　who　manages　or　employes　it；　is

called　profit。　That　derived　from　it　by　the　person　who　does　not

employ　it　himself；　but　lends　it　to　another；　is　called　the

interest　or　the　use　of　money。　It　is　the　compensation　which　the

borrower　pays　to　the　lender；　for　the　profit　which　he　has　an

opportunity　of　making　by　the　use　of　the　money。　Part　of　that

profit　naturally　belongs　to　the　borrower；　who　runs　the　risk　and

takes　the　trouble　of　employing　it；　and　part　to　the　lender；　who

affords　him　the　opportunity　of　making　this　profit。　The　interest

of　money　is　always　a　derivative　revenue；　which；　if　it　is　not　paid

from　the　profit　which　is　made　by　the　use　of　the　money；　must　be

paid　from　some　other　source　of　revenue；　unless　perhaps　the

borrower　is　a　spendthrift；　who　contracts　a　second　debt　in　order

to　pay　the　interest　of　the　first。　The　revenue　which　proceeds

altogether　from　land；　is　called　rent；　and　belongs　to　the

landlord。　The　revenue　of　the　farmer　is　derived　partly　from　his

labour；　and　partly　from　his　stock。　To　him；　land　is　only　the

instrument　which　enables　him　to　earn　the　wages　of　this　labour；

and　to　make　the　profits　of　this　stock。　All　taxes；　and　an　the

revenue　which　is　founded　upon　them；　all　salaries；　pensions；　and

annuities　of　every　kind；　are　ultimately　derived　from　some　one　or

other　of　those　three　original　sources　of　revenue；　and　are　paid

either　immediately　or　mediately　from　the　wages　of　labour；　the

profits　of　stock；　or　the　rent　of　land。

　　　　　When　those　three　different　sorts　of　revenue　belong　to

different　persons；　they　are　readily　distinguished；　but　when　they

belong　to　the　same　they　are　sometimes　confounded　with　one

another；　at　least　in　common　language。

　　　　　A　gentleman　who　farms　a　part　of　his　own　estate；　after　paying

the　expense　of　cultivation；　should　gain　both　the　rent　of　the

landlord　and　the　profit　of　the　farmer。　He　is　apt　to　denominate；

however；　his　whole　gain；　profit；　and　thus　confounds　rent　with

profit；　at　least　in　common　language。　The　greater　part　of　our

North　American　and　West　Indian　planters　are　in　this　situation。

They　farm；　the　greater　part　of　them；　their　own　estates；　and

accordingly　we　seldom　hear　of　the　rent　of　a　plantation；　but

frequently　of　its　profit。

　　　　　Common　farmers　seldom　employ　any　overseer　to　direct　the

general　operations　of　the　farm。　They　generally；　too；　work　a　good

deal　with　their　own　hands；　as　ploughmen；　harrowers；　etc。　What

remains　of　the　crop　after　paying　the　rent；　therefore；　should　not

only　replace　to　them　their　stock　employed　in　cultivation；

together　with　its　ordinary　profits；　but　pay　them　the　wages　which

are　due　to　them；　both　as　labourers　and　overseers。　Whatever

remains；　however；　after　paying　the　rent　and　keeping　up　the　stock；

is　called　profit。　But　wages　evidently　make　a　part　of　it。　The

farmer；　by　saving　these　wages；　must　necessarily　gain　them。　Wages；

therefore；　are　in　this　case　confounded　with　profit。

　　　　　An　independent　manufacturer；　who　has　stock　enough　both　to

purchase　materials；　and　to　maintain　himself　till　he　can　carry　his

work　to　market；　should　gain　both　the　wages　of　a　journeyman　who

works　under　a　master；　and　the　profit　which　that　master　makes　by

the　sale　of　the　journeyman's　work。　His　whole　gains；　however；　are

commonly　called　profit；　and　wages　are；　in　this　case　too；

confounded　with　profit。

　　　　　A　gardener　who　cultivates　his　own　garden　with　his　own　hands；

unites　in　his　own　person　the　three　different　characters　of

landlord；　farmer；　and　labourer。　His　produce；　therefore；　should

pay　him　the　rent　of　the　first；　the　profit　of　the　s