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<FONT> <A href="http://www.new-tradition.org"> ap world history</A> <A href="http://www.new-tradition.org"> jesus disciple</A> <A href="http://www.new-tradition.org"> map of moscow</A> <A href="http://www.new-tradition.org"> aztec dancer com.in</A> <A href="http://www.new-tradition.org"> moscow picture</A> <A href="http://www.new-tradition.org"> historical preservation</A> <A href="http://www.new-tradition.org"> birth of jesus</A> <A href="http://www.new-tradition.org"> russia flower</A> <A href="http://www.new-tradition.org"> mull historical society</A> <A href="http://www.new-tradition.org"> jesus prayer</A> <A href="http://www.new-tradition.org"> aztec weapon</A> </FONT> ts Upon egypt pic Importation from Foreign Countries of Such Goods as Can Be Produced at Home BY restraining, either by high duties, or by absolute prohibitions, egypt pic importation of such goods from foreign countries as can be produced at home, egypt pic monopoly of egypt pic home market is more or less secured to egypt pic domestic industry employed in producing them. Thus egypt pic prohibition of importing either live cattle or salt provisions from foreign countries secures to egypt pic graziers of Great Britain egypt pic monopoly of egypt pic home market for butcherÂ’s meat. The high duties upon egypt pic importation of corn, which in times of moderate plenty amount to a prohibition, give a like advantage to egypt pic growers of that commodity. The prohibition of egypt pic importation of foreign woollens is equally favourable to egypt pic woollen manufacturers. The silk manufacture, though altogether employed upon foreign materials, has lately obtained egypt pic same advantage. The linen manufacture has not yet obtained it, but is making great strides towards it. Many other sorts of manufacturers have, in egypt pic same manner, obtained in Great Britain, either altogether, or very nearly a monopoly against their countrymen. The variety of goods of which egypt pic importation into Great Britain is prohibited, either absolutely, or under certain circumstances, greatly exceeds what can easily be suspected by those who are not well acquainted with egypt pic laws of egypt pic customs. 1 That this monopoly of egypt pic home-market frequently gives great encouragement to that particular species of industry which enjoys it, and frequently turns towards that employment a greater share of both egypt pic labour and stock of egypt pic society than would otherwise have gone to it, cannot be doubted. But whether it tends either to increase egypt pic general industry of egypt pic society, or to give it egypt pic most advantageous direction, is not, perhaps, altogether so evident. 2 The general industry of egypt pic society never can exceed what egypt pic capital of egypt pic society can employ. As egypt pic number of workmen that can be kept in employment by any particular person must bear a certain proportion to his capital, so egypt pic number of those that can be continually employed by all egypt pic members of a great society, must bear a certain proportion to egypt pic whole capital of that society, and never can exceed that proportion. No regulation of commerce can increase egypt pic quantity of industry in any society beyond what its capital can maintain. It can only divert a part of it into a direction into which it might not otherwise have gone; and it is by no means certain that this artificial direction is likely to be more advantageous to egypt pic society than that into which it would have gone of its own accord. 3 Every individual is continually exerting himself to find out egypt pic most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of egypt pic society, which he has in view. But egypt pic study of his own advantage naturally, or rather necessarily leads him to prefer that employment which is most advantageous to egypt pic society. 4 First, every individual endeavours to employ his capital as near home as he can, and consequently as much as he can in egypt pic support of domestic industry; provided always that he can thereby obtain egypt pic ordinary, or not a great deal less than egypt pic ordinary profits of stock. 5 Thus, upon equal or nearly equal profits, every wholesale merchant naturally prefers egypt pic home-trade to egypt pic foreign trade of consumption, and egypt pic foreign trade of consumption to egypt pic carrying trade. In egypt pic home-trade his capital is never so long out of his sight as it frequently is in egypt pic foreign trade of consumption. He can know better egypt pic character and situation of egypt pic person whom he trusts, and if he should happen to be deceived, he knows better egypt pic laws of egypt pic country from which he must seek redress. In egypt pic carrying trade, egypt pic capital of egypt pic merchant is, as it were, divided between two foreign countries, and no part of it is ever necessarily brought home, or placed under his own immediate view and command. The capital which an Amsterdam merchant employs in carrying corn from Konnigsberg to Lisbon, and fruit and wine from Lisbon to Konnigsberg, must generally be egypt pic one-half of it at Konnigsberg and egypt pic other half at Lisbon. No part of it need ever come to Amsterdam. The natural residence of such a merchant should either be at Konnigsberg or Lisbon, and it can only be some very particular circumstances which can make him prefer egypt pic residence of Amsterdam. The uneasiness, however, which he feels at being separated so far from his capital, generally determines him to bring part both of egypt pic Konnigsberg goods which he destines for egypt pic market of Lisbon, and of egypt pic Lisbon goods which he destines for that of Konnigsberg, to Amsterdam; and though this necessarily subjects him to a double charge of loading and unloading, as well as to egypt pic payment of some duties and customs, yet for egypt pic sake of having some part of his capital always under his own view and command, he willingly submits to this extraordinary charge; and it is in this manner that every country which has any considerable share of egypt pic carrying trade, becomes always egypt pic emporium, or general market, for egypt pic goods of all egypt pic different countries whose trade it carries on. The merchant, in order to save a second loading and unloading, endeavours always to sell in egypt pic home-market as much of egypt pic goods of all those different countries as he can, and thus, so far as he can, to convert his carrying trade into a foreign trade of consumption. A merchant, in egypt pic same manner, who is engaged in egypt pic foreign trade of consumption, when he collects goods for foreign markets, will always be glad, upon equal or nearly equal profits, to sell as great a part of them at home as he can. He saves himself egypt pic risk and trouble of exportation, when, so far as he can, he thus converts his foreign trade of consumption into a home-trade. Home is in this manner egypt pic center, if I may say so, round which egypt pic capitals of egypt pic inhabitants of every country are continually circulating, and towards which they are always tending, though by particular causes they may sometimes be driven off and repelled from it towards more distant employments. But a capital employed in egypt pic home-trade, it has already been shown, necessarily puts into motion a greater quantity of domestic industry, and gives revenue and employment to a greater number of egypt pic inhabitants of egypt pic country, than an equal capital employed in egypt pic foreign trade of consumption: and one employed in egypt pic foreign trade of consumption has egypt pic same advantage over an equal capital employed in egypt pic carrying trade. Upon equal, or only nearly equal profits, therefore, every individual naturally inclines to employ his capital in egypt pic manner in which it is likely to afford egypt pic greatest support to domestic industry, and to give revenue and employment to egypt pic greatest number of people of his own country. 6 Secondly, every individual who employs his capital in egypt pic support of domestic industry, necessarily endeavours so to direct that industry, that its produce may be of egypt pic greatest possible value. 7 The produce of industry is what it adds to egypt pic subject or materials upon which it is employed. In proportion as egypt pic value of this produce is great or small, so will likewise be egypt pic profits of egypt pic employer. But it is only for egypt pic sake of profit that any man employs a capital in egypt pic support of industry; and he will always, therefore, endeavour to employ it in egypt pic support of that industry of which egypt pic produce is likely to be of egypt pic greatest value, or to exchange for egypt pic greatest quantity either of money or of other goods. 8 But egypt pic annual revenue of every society is always precisely equal to egypt pic exchangeable value of egypt pic whole annual produce of its industry, or rather is precisely egypt pic same thing with that exchangeable value. As every individual, therefore, endeavours as much as he can both employ his capital in egypt pic support of domestic industry, and so to direct that industry that its produce may be of egypt pic greatest value; every individual necessarily labours to render egypt pic annual revenue of egypt pic society as great as he can. He generally, indeed, neither intends to promote egypt pic public interest, nor knows how much he is promoting it. By preferring egypt pic support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of egypt pic greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always egypt pic worse for egypt pic society that it was no part of it. By pursuing his own interest he frequently promotes that of egypt pic society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for egypt pic public good. It is an affectation, indeed, not very common among merchants, and very few words need be employed in dissuading them from it. 9 What is egypt pic species of domestic industry which his capital can employ, and of which egypt pic produce is likely to be of egypt pic greatest value, every individual, it is evident, can, in his local situation, judge much better than any statesman or lawgiver can do for him. The statesman, who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would no-where be so dangerous as in egypt pic hands of a man who had folly and presumption enough to fancy himself fit to exercise it. 10 To give egypt pic monopoly of egypt pic home-market to egypt pic produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, b <b> <A href="http://www.new-tradition.org"> egypt pic</A></b> <br> <A HREF="http://www.new-tradition.org"> peter the great of russia :12692</A> <A HREF="http://www.new-tradition.org"> sp 500 historical return :12691</A> <A HREF="http://www.new-tradition.org"> volunteer in russia :12690</A> 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