wealbk01-第16节
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police； may； in many commodities； keep up the market price； for a
long time together； a good deal above the natural price。
When by an increase in the effectual demand； the market
price of some particular commodity happens to rise a good deal
above the natural price； those who employ their stocks in
supplying that market are generally careful to conceal this
change。 If it was commonly known； their great profit would tempt
so many new rivals to employ their stocks in the same way that；
the effectual demand being fully supplied； the market price would
soon be reduced to the natural price； and perhaps for some time
even below it。 If the market is at a great distance from the
residence of those who supply it； they may sometimes be able to
keep the secret for several years together； and may so long enjoy
their extraordinary profits without any new rivals。 Secrets of
this kind； however； it must be acknowledged； can seldom be long
kept； and the extraordinary profit can last very little longer
than they are kept。
Secrets in manufactures are capable of being longer kept
than secrets in trade。 A dyer who has found the means of
producing a particular colour with materials which cost only half
the price of those commonly made use of； may； with good
management； enjoy the advantage of his discovery as long as he
lives； and even leave it as a legacy to his posterity。 His
extraordinary gains arise from the high price which is paid for
his private labour。 They properly consist in the high wages of
that labour。 But as they are repeated upon every part of his
stock； and as their whole amount bears； upon that account； a
regular proportion to it； they are commonly considered as
extraordinary profits of stock。
Such enhancements of the market price are evidently the
effects of particular accidents； of which； however； the operation
may sometimes last for many years together。
Some natural productions require such a singularity of soil
and situation that all the land in a great country； which is fit
for producing them； may not be sufficient to supply the effectual
demand。 The whole quantity brought to market； therefore； may be
disposed of to those who are willing to give more than what is
sufficient to pay the rent of the land which produced them；
together with the wages of the labour； and the profits of the
stock which were employed in preparing and bringing them to
market； according to their natural rates。 Such commodities may
continue for whole centuries together to be sold at this high
price； and that part of it which resolves itself into the rent of
land is in this case the part which is generally paid above its
natural rate。 The rent of the land which affords such singular
and esteemed productions； like the rent of some vineyards in
France of a peculiarly happy soil and situation； bears no regular
proportion to the rent of other equally fertile and equally
well…cultivated land in its neighbourhood。 The wages of the
labour and the profits of the stock employed in bringing such
commodities to market； on the contrary； are seldom out of their
natural proportion to those of the other employments of labour
and stock in their neighbourhood。
Such enhancements of the market price are evidently the
effect of natural causes which may hinder the effectual demand
from ever being fully supplied； and which may continue；
therefore； to operate for ever。
A monopoly granted either to an individual or to a trading
company has the same effect as a secret in trade or manufactures。
The monopolists； by keeping the market constantly understocked；
by never fully supplying the effectual demand； sell their
commodities much above the natural price； and raise their
emoluments； whether they consist in wages or profit； greatly
above their natural rate。
The price of monopoly is upon every occasion the highest
which can be got。 The natural price； or the price of free
competition； on the contrary； is the lowest which can be taken；
not upon every occasion； indeed； but for any considerable time
together。 The one is upon every occasion the highest which can be
squeezed out of the buyers； or which； it is supposed； they will
consent to give： the other is the lowest which the sellers can
commonly afford to take； and at the same time continue their
business。
The exclusive privileges of corporations； statutes of
apprenticeship； and all those laws which restrain； in particular
employments； the competition to a smaller number than might
otherwise go into them； have the same tendency； though in a less
degree。 They are a sort of enlarged monopolies； and may
frequently； for ages together； and in whole classes of
employments； keep up the market price of particular commodities
above the natural price； and maintain both the wages of the
labour and the profits of the stock employed about them somewhat
above their natural rate。
Such enhancements of the market price may last as long as
the regulations of police which give occasion to them。
The market price of any particular commodity； though it may
continue long above； can seldom continue long below its natural
price。 Whatever part of it was paid below the natural rate； the
persons whose interest it affected would immediately feel the
loss； and would immediately withdraw either so much land； or so
much labour； or so much stock； from being employed about it； that
the quantity brought to market would soon be no more than
sufficient to supply the effectual demand。 Its market price；
therefore； would soon rise to the natural price。 This at least
would be the case where there was perfect liberty。
The same statutes of apprenticeship and other corporation
laws indeed； which； when a manufacture is in prosperity； enable
the workman to raise his wages a good deal above their natural
rate； sometimes oblige him； when it decays； to let them down a
good deal below it。 As in the one case they exclude many people
from his employment； so in the other they exclude him from many
employments。 The effect of such regulations； however； is not near
so durable in sinking the workman's wages below； as in raising
them above their natural rate。 Their operation in the one way may
endure for many centuries； but in the other it can last no longer
than the lives of some of the workmen who were bred to the
business in the time of its prosperity。 When they are gone； the
number of those who are afterwards educated to the trade will
naturally suit itself to the effectual demand。 The police must be
as violent as that of Indostan or ancient Egypt （where every man
was bound by a principle of religion to follow the occupation of
his father； and was supposed to commit the most horrid sacrilege
if he changed it for another）； which can in any particular
employment； and for several generations together； sink either the
wages of labour or the profits of stock below their natural rate。
This is all that I think necessary to be observed at present
concerning the deviations； whether occasional or permanent； of
the market price of commodities from the natural price。
The natural price itself varies with the natural rate of
each of its component parts； of wages； profit； and rent； and in
every society this rate varies according to their circumstances；
according to their riches or poverty； their advancing；
stationary； or declining condition。 I shall； in the four
following chapters； endeavour to explain； as fully and distinctly
as I can； the causes of those different variations。
First； I shall endeavour to explain what are the
circumstances which naturally determine the rate of wages； and in
what manner those circumstances are affected by the riches or
poverty； by the advancing； stationary； or declining state of the
society。
Secondly； I shall endeavour to show what are the
circumstances which naturally determine the rate of profit； and
in what manner； too； those circumstances are affected by the like
variations in the state of the society。
Though pecuniary wages and profit are very different in the
different employments of labour and stock； yet a certain
proportion seems commonly to take place between both the
pecuniary wages in all the different employments of labour； and
the pecuniary profits in all the different employments of stock。
This proportion； it will appear hereafter； depends partly upon
the nature of the different employments； and partly upon the
different laws and policy of the society in which they are
carried on。 But though in many respects dependent upon the laws
and policy； this proportion seems to be little affected by the
riches or poverty of that society； by its advancing； stationary；
or declining condition； but to remain the same or very nearly the
same in all those different states。 I shall； in the third place；
endeavour to explain all the different circumstances which
regulate t
