...Nations," Adam Smith necessarily admits the superior advantage of the home trade, as follows : — " The capital which is employed in purchasing in one part of the country, in order to •ell in another the produce of the industry of that country, generally replaces, by every such operation,...

...chain of lucid reasoning, is clear, unequivocal, decisive. In his Second Book, chap, v., he says — ' The capital which is employed in purchasing in one...the industry of that country, generally replaces by every such operation two distinct capitals. The capital which sends Scotch manufactures to London and...

...chain of lucid reasoning, is clear, unequivocal, decisive. In his Second Book, chap, v., he says — ' The capital which is employed in purchasing in one...the industry of that country, generally replaces by every such operation two distinct capitals. The capital which fends Scotch manufactures to London and...

...most distinguished writers on political economy. " The capital which is employed," says Adam Smith, " in purchasing in one part of the country, in order...the industry of that country, generally replaces by every such operation two distinct capitals, that had both been employed in the agriculture or manufactures...

...advantageous than foreign trade. On this text, hear the apostle of free-trade himself, Adam Smith. " The capital which is employed in purchasing in " one...that " had both been employed in the agriculture or manu" facture of that country, and thereby enables them to " continue that employment When both " are...

...checked " if " — in his words — "human institutions had never thwarted natural inclination." " The capital which is employed in purchasing in one...another the produce of the industry of that country, gentrallv replaces, by every such operation, two distinct capitals, that had both been employed in...

...order to sell in another the produce of the industry of that country, gentrally replaces, by every such operation, two distinct capitals, that had both been employed in the agriculture and manufactures of that country, and thereby enables them to continue that employment." The capital...

...half the encouragement to the industry ornroductive labour of the country;" and for this reason : " The capital which is employed in purchasing in one...the industry of that country, generally replaces by every such operation two distinct capitals which had both been employed in supporting productive labour,...

...according to the different sorts of wholesale trade in which any part of it is employed. » « » " The capital which is employed in purchasing in one...the industry of that country, generally replaces by every such operation two distinct capitals, that had both been employed in the agriculture or manufactures...

...transacting the commerce of foreign countries, or in carrying the surplus produce of one to another. " The capital which is employed in purchasing in one...the industry of that country, generally replaces, by every such operation, TWO distinct capitals, that had both been employed in the agriculture or manufactures...