A Treatise on the Industry of Nations Volume 1

A Treatise on the Industry of Nations Volume 1

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This 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. 1839 edition. Excerpt: ...it immediately available for further production or importation. Thus he fairly earns the profit that he gains, without trenching on the profits of the others, while he at the same time cheapens the supply to the consumer. The retailer's labour and capital serve an equally useful part in the supply. Whilst the wholesale dealer establishes himself in some great town to which the retailers are in the habit of resorting; these last disperse themselves everywhere in the towns and villages, in situations convenient to the consumer. Thus the whole mercantile class, by the division and combination of employments among them, conjoin in the performance of that duty which renders such essential service to the community. From the fact that mercantile industry employs a smaller number of labourers, in proportion to its capital, than either agriculture or manufactures, we perceive the absurdity of that jealousy of foreigners engaging in this branch of industry which is sometimes observed. If it were not for the aid of the foreign capital employed in conducting the commercial transactions of the country, the capitals of native subjects, now vested in agriculture or manufactures, and which employ a greater number of labourers than commercial industry, must be withdrawn from these employments to carry on the necessary commercial transactions. Foreigners will not embark their capitals in agriculture or manufactures so readily as in commerce, because the capital in the two former becomes necessarily more fixed, and cannot be easily withdrawn in case of their wishing to return to their own country, in the event of war or other political circumstances rendering their situation precarious. In commerce, capital may be readily withdrawn and transported to...
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Product details

  • Paperback | 226 pages
  • 189 x 246 x 12mm | 413g
  • United States
  • English
  • black & white illustrations
  • 1236937538
  • 9781236937537