wealbk01-第29章

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usual　profit。　In　a　country　where　the　ordinary　rate　of　clear

profit　is　eight　or　ten　per　cent；　it　may　be　reasonable　that　one

half　of　it　should　go　to　interest；　wherever　business　is　carried　on

with　borrowed　money。　The　stock　is　at　the　risk　of　the　borrower；

who；　as　it　were；　insures　it　to　the　lender；　and　four　or　five　per

cent　may；　in　the　greater　part　of　trades；　be　both　a　sufficient

profit　upon　the　risk　of　this　insurance；　and　a　sufficient

recompense　for　the　trouble　of　employing　the　stock。　But　the

proportion　between　interest　and　clear　profit　might　not　be　the

same　in　countries　where　the　ordinary　rate　of　profit　was　either　a

good　deal　lower；　or　a　good　deal　higher。　If　it　were　a　good　deal

lower；　one　half　of　it　perhaps　could　not　be　afforded　for　interest；

and　more　might　be　afforded　if　it　were　a　good　deal　higher。

　　　　　In　countries　which　are　fast　advancing　to　riches；　the　low

rate　of　profit　may；　in　the　price　of　many　commodities；　compensate

the　high　wages　of　labour；　and　enable　those　countries　to　sell　as

cheap　as　their　less　thriving　neighbours；　among　whom　the　wages　of

labour　may　be　lower。

　　　　　In　reality　high　profits　tend　much　more　to　raise　the　price　of

work　than　high　wages。　If　in　the　linen　manufacture；　for　example；

the　wages　of　the　different　working　people；　the　flax…dressers；　the

spinners；　the　weavers；　etc。；　should；　all　of　them；　be　advanced

twopence　a　day；　it　would　be　necessary　to　heighten　the　price　of　a

piece　of　linen　only　by　a　number　of　twopences　equal　to　the　number

of　people　that　had　been　employed　about　it；　multiplied　by　the

number　of　days　during　which　they　had　been　so　employed。　That　part

of　the　price　of　the　commodity　which　resolved　itself　into　wages

would；　through　all　the　different　stages　of　the　manufacture；　rise

only　in　arithmetical　proportion　to　this　rise　of　wages。　But　if　the

profits　of　all　the　different　employers　of　those　working　people

should　be　raised　five　per　cent；　that　part　of　the　price　of　the

commodity　which　resolved　itself　into　profit　would；　through　all

the　different　stages　of　the　manufacture；　rise　in　geometrical

proportion　to　this　rise　of　profit。　The　employer　of　the

flaxdressers　would　in　selling　his　flax　require　an　additional　five

per　cent　upon　the　whole　value　of　the　materials　and　wages　which　he

advanced　to　his　workmen。　The　employer　of　the　spinners　would

require　an　additional　five　per　cent　both　upon　the　advanced　price

of　the　flax　and　upon　the　wages　of　the　spinners。　And　the　employer

of　the　weavers　would　require　a　like　five　per　cent　both　upon　the

advanced　price　of　the　linen　yarn　and　upon　the　wages　of　the

weavers。　In　raising　the　price　of　commodities　the　rise　of　wages

operates　in　the　same　manner　as　simple　interest　does　in　the

accumulation　of　debt。　The　rise　of　profit　operates　like　compound

interest。　Our　merchants　and　master…manufacturers　complain　much　of

the　bad　effects　of　high　wages　in　raising　the　price；　and　thereby

lessening　the　sale　of　their　goods　both　at　home　and　abroad。　They

say　nothing　concerning　the　bad　effects　of　high　profits。　They　are

silent　with　regard　to　the　pernicious　effects　of　their　own　gains。

They　complain　only　of　those　of　other　people。　　



　　　　　　　　　　　　　　　　　　　　　　　　　　　　　CHAPTER　X



Of　Wages　and　Profit　in　the　different　Employments　of　Labour　and

Stock　



　　　　　THE　whole　of　the　advantages　and　disadvantages　of　the

different　employments　of　labour　and　stock　must；　in　the　same

neighbourhood；　be　either　perfectly　equal　or　continually　tending

to　equality。　If　in　the　same　neighbourhood；　there　was　any

employment　evidently　either　more　or　less　advantageous　than　the

rest；　so　many　people　would　crowd　into　it　in　the　one　case；　and　so

many　would　desert　it　in　the　other；　that　its　advantages　would　soon

return　to　the　level　of　other　employments。　This　at　least　would　be

the　case　in　a　society　where　things　were　left　to　follow　their

natural　course；　where　there　was　perfect　liberty；　and　where　every

man　was　perfectly　free　both　to　choose　what　occupation　he　thought

proper；　and　to　change　it　as　often　as　he　thought　proper。　Every

man's　interest　would　prompt　him　to　seek　the　advantageous；　and　to

shun　the　disadvantageous　employment。

　　　　　Pecuniary　wages　and　profit；　indeed；　are　everywhere　in　Europe

extremely　different　according　to　the　different　employments　of

labour　and　stock。　But　this　difference　arises　partly　from　certain

circumstances　in　the　employments　themselves；　which；　either

really；　or　at　least　in　the　imaginations　of　men；　make　up　for　a

small　pecuniary　gain　in　some；　and　counterbalance　a　great　one　in

others；　and　partly　from　the　policy　of　Europe；　which　nowhere

leaves　things　at　perfect　liberty。

　　　　　The　particular　consideration　of　those　circumstances　and　of

that　policy　will　divide　this　chapter　into　two　parts。　

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　PART　1　　　Inequalities　arising

from　the　Nature　of　the　Employments　themselves　

　　　　　THE　five　following　are　the　principal　circumstances　which；　so

far　as　I　have　been　able　to　observe；　make　up　for　a　small　pecuniary

gain　in　some　employments；　and　counterbalance　a　great　one　in

others：　first；　the　agreeableness　or　disagreeableness　of　the

employments　themselves；　secondly；　the　easiness　and　cheapness；　or

the　difficulty　and　expense　of　learning　them；　thirdly；　the

constancy　or　inconstancy　of　employment　in　them；　fourthly；　the

small　or　great　trust　which　must　be　reposed　in　those　who　exercise

them；　and；　fifthly；　the　probability　or　improbability　of　success

in　them。

　　　　　First；　the　wages　of　labour　vary　with　the　ease　or　hardship；

the　cleanliness　or　dirtiness；　the　honourableness　or

dishonourableness　of　the　employment。　Thus　in　most　places；　take

the　year　round；　a　journeyman　tailor　earns　less　than　a　journeyman

weaver。　His　work　is　much　easier。　A　journeyman　weaver　earns　less

than　a　journeyman　smith。　His　work　is　not　always　easier；　but　it　is

much　cleanlier。　A　journeyman　blacksmith；　though　an　artificer；

seldom　earns　so　much　in　twelve　hours　as　a　collier；　who　is　only　a

labourer；　does　in　eight。　His　work　is　not　quite　so　dirty；　is　less

dangerous；　and　is　carried　on　in　daylight；　and　above　ground。

Honour　makes　a　great　part　of　the　reward　of　all　honourable

professions。　In　point　of　pecuniary　gain；　all　things　considered；

they　are　generally　under…recompensed；　as　I　shall　endeavour　to

show　by　and　by。　Disgrace　has　the　contrary　effect。　The　trade　of　a

butcher　is　a　brutal　and　an　odious　business；　but　it　is　in　most

places　more　profitable　than　the　greater　part　of　common　trades。

The　most　detestable　of　all　employments；　that　of　public

executioner；　is；　in　proportion　to　the　quantity　of　work　done；

better　paid　than　any　common　trade　whatever。

　　　　　Hunting　and　fishing；　the　most　important　employments　of

mankind　in　the　rude　state　of　society；　become　in　its　advanced

state　their　most　agreeable　amusements；　and　they　pursue　for

pleasure　what　they　once　followed　from　necessity。　In　the　advanced

state　of　society；　therefore；　they　are　all　very　poor　people　who

follow　as　a　trade　what　other　people　pursue　as　a　pastime。

Fishermen　have　been　so　since　the　time　of　Theocritus。　A　poacher　is

everywhere　a　very　poor　man　in　Great　Britain。　In　countries　where

the　rigour　of　the　law　suffers　no　poachers；　the　licensed　hunter　is

not　in　a　much　better　condition。　The　natural　taste　for　those

employments　makes　more　people　follow　them　than　can　live

comfortably　by　them；　and　the　produce　of　their　labour；　in

proportion　to　its　quantity；　comes　always　too　cheap　to　market　to

afford　anything　but　the　most　scanty　subsistence　to　the　labourers。

　　　　　Disagreeableness　and　disgrace　affect　the　profits　of　stock　in

the　same　manner　as　the　wages　of　labour。　The　keeper　of　an　inn　or

tavern；　who　is　never　master　of　his　own　house；　and　who　is　exposed

to　the　brutality　of　every　drunkard；　exercises　neither　a　very

agreeable　nor　a　very　creditable　business。　But　there　is　scarce　any

common　trade　in　which　a　small　stock　yields　so　great　a　profit。

　　　　　Secondly；　the　wages　of　labour　vary　with　the　easiness　and

cheapness；　or　the　difficulty　and　expense　of　learning　the

business。

　　　　　When　any