wealbk01-第50节

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very　different；　their　facts；　so　far　as　they　relate　to　the　price

of　corn　at　least；　should　coincide　so　very　exactly。

　　　　　It　is　not；　however；　so　much　from　the　low　price　of　corn　as

from　that　of　some　other　parts　of　the　rude　produce　of　land　that

the　most　judicious　writers　have　inferred　the　great　value　of

silver　in　those　very　ancient　times。　Corn；　it　has　been　said；　being

a　sort　of　manufacture；　was；　in　those　rude　ages；　much　dearer　in

proportion　than　the　greater　part　of　other　commodities；　it　is

meant；　I　suppose；　than　the　greater　part　of　unmanufactured

commodities；　such　as　cattle；　poultry；　game　of　all　kinds；　etc。

That　in　those　times　of　poverty　and　barbarism　these　were

proportionably　much　cheaper　than　corn　is　undoubtedly　true。　But

this　cheapness　was　not　the　effect　of　the　high　value　of　silver；

but　of　the　low　value　of　those　commodities。　It　was　not　because

silver　would　in　such　times　purchase　or　represent　a　greater

quantity　of　labour；　but　because　such　commodities　would　purchase

or　represent　a　much　smaller　quantity　than　in　times　of　more

opulence　and　improvement。　Silver　must　certainly　be　cheaper　in

Spanish　America　than　in　Europe；　in　the　country　where　it　is

produced　than　in　the　country　to　which　it　is　brought；　at　the

expense　of　a　long　carriage　both　by　land　and　by　sea；　of　a　freight

and　an　insurance。　One…and…twenty　pence　halfpenny　sterling；

however；　we　are　told　by　Ulloa；　was；　not　many　years　ago；　at　Buenos

Ayres；　the　price　of　an　ox　chosen　from　a　herd　of　three　or　four

hundred。　Sixteen　shillings　sterling；　we　are　told　by　Mr。　Byron　was

the　price　of　a　good　horse　in　the　capital　of　Chili。　In　a　country

naturally　fertile；　but　of　which　the　far　greater　part　is

altogether　uncultivated；　cattle；　poultry；　game　of　all　kinds；

etc。；　as　they　can　be　acquired　with　a　very　small　quantity　of

labour；　so　they　will　purchase　or　command　but　a　very　small

quantity。　The　low　money　price　for　which　they　may　be　sold　is　no

proof　that　the　real　value　of　silver　is　there　very　high；　but　that

the　real　value　of　those　commodities　is　very　low。

　　　　　Labour；　it　must　always　be　remembered；　and　not　any　particular

commodity　or　set　of　commodities；　is　the　real　measure　of　the　value

both　of　silver　and　of　all　other　commodities。

　　　　　But　in　countries　almost　waste；　or　but　thinly　inhabited；

cattle；　poultry；　game　of　all　kinds；　etc。；　as　they　are　the

spontaneous　productions　of　nature；　so　she　frequently　produces

them　in　much　greater　quantities　than　the　consumption　of　the

inhabitants　requires。　In　such　a　state　of　things　the　supply

commonly　exceeds　the　demand。　In　different　states　of　society；　in

different　stages　of　improvement；　therefore；　such　commodities　will

represent；　or　be　equivalent　to；　very　different　quantities　of

labour。

　　　　　In　every　state　of　society；　in　every　stage　of　improvement；

corn　is　the　production　of　human　industry。　But　the　average　produce

of　every　sort　of　industry　is　always　suited；　more　or　less　exactly；

to　the　average　consumption；　the　average　supply　to　the　average

demand。　In　every　different　stage　of　improvement；　besides；　the

raising　of　equal　quantities　of　corn　in　the　same　soil　and　climate

will；　at　an　average；　require　nearly　equal　quantities　of　labour；

or　what　comes　to　the　same　thing；　the　price　of　nearly　equal

quantities；　the　continual　increase　of　the　productive　powers　of

labour　in　an　improving　state　of　cultivation　being　more　or　less

counterbalanced　by　the　continually　increasing　price　of　cattle；

the　principal　instruments　of　agriculture。　Upon　all　these

accounts；　therefore；　we　may　rest　assured　that　equal　quantities　of

corn　will；　in　every　state　of　society；　in　every　stage　of

improvement；　more　nearly　represent；　or　be　equivalent　to；　equal

quantities　of　labour　than　equal　quantities　of　any　other　part　of

the　rude　produce　of　land。　Corn；　accordingly；　it　has　already　been

observed；　is；　in　all　the　different　stages　of　wealth　and

improvement；　a　more　accurate　measure　of　value　than　any　other

commodity　or　set　of　commodities。　In　all　those　different　stages；

therefore；　we　can　judge　better　of　the　real　value　of　silver　by

comparing　it　with　corn　than　by　comparing　it　with　any　other

commodity　or　set　of　commodities。

　　　　　Corn；　besides；　or　whatever　else　is　the　common　and　favourite

vegetable　food　of　the　people；　constitutes；　in　every　civilised

country；　the　principal　part　of　the　subsistence　of　the　labourer。

In　consequence　of　the　extension　of　agriculture；　the　land　of　every

country　produces　a　much　greater　quantity　of　vegetable　than　of

animal　food；　and　the　labourer　everywhere　lives　chiefly　upon　the

wholesome　food　that　is　cheapest　and　most　abundant。　Butcher's

meat；　except　in　the　most　thriving　countries；　or　where　labour　is

most　highly　rewarded；　makes　but　an　insignificant　part　of　his

subsistence；　poultry　makes　a　still　smaller　part　of　it；　and　game

no　part　of　it。　In　France；　and　even　in　Scotland；　where　labour　is

somewhat　better　rewarded　than　in　France；　the　labouring　poor

seldom　eat　butcher's　meat；　except　upon　holidays；　and　other

extraordinary　occasions。　The　money　price　of　labour；　therefore；

depends　much　more　upon　the　average　money　price　of　corn；　the

subsistence　of　the　labourer；　than　upon　that　of　butcher's　meat；　or

of　any　other　part　of　the　rude　produce　of　land。　The　real　value　of

gold　and　silver；　therefore；　the　real　quantity　of　labour　which

they　can　purchase　or　command；　depends　much　more　upon　the　quantity

of　corn　which　they　can　purchase　or　command　than　upon　that　of

butcher's　meat；　or　any　other　part　of　the　rude　produce　of　land。

　　　　　Such　slight　observations；　however；　upon　the　prices　either　of

corn　or　of　other　commodities；　would　not　probably　have　misled　so

many　intelligent　authors　had　they　not　been　influenced；　at　the

same　time；　by　the　popular　notion；　that　as　the　quantity　of　silver

naturally　increases　in　every　country　with　the　increase　of　so　its

value　diminishes　as　its　quantity　increases。　This　notion；　however；

seems　to　be　altogether　groundless。

　　　　　The　quantity　of　the　precious　metals　may　increase　in　any

country　from　two　different　causes；　either；　first；　from　the

increased　abundance　of　the　mines　which　supply　it；　or；　secondly；

from　the　increased　wealth　of　the　people；　from　the　increased

produce　of　their　annual　labour。　The　first　of　these　causes　is　no

doubt　necessarily　connected　with　the　diminution　of　the　value　of

the　precious　metals；　but　the　second　is　not。

　　　　　When　more　abundant　mines　are　discovered；　a　greater　quantity

of　the　precious　metals　is　brought　to　market；　and　the　quantity　of

the　necessaries　and　conveniencies　of　life　for　which　they　must　be

exchanged　being　the　same　as　before；　equal　quantities　of　the

metals　must　be　exchanged　for　smaller　quantities　of　commodities。

So　far；　therefore；　as　the　increase　of　the　quantity　of　the

precious　metals　in　any　country　arises　from　the　increased

abundance　of　the　mines；　it　is　necessarily　connected　with　some

diminution　of　their　value。

　　　　　When；　on　the　contrary；　the　wealth　of　any　country　increases；

when　the　annual　produce　of　its　labour　becomes　gradually　greater

and　greater；　a　greater　quantity　of　coin　becomes　necessary　in

order　to　circulate　a　greater　quantity　of　commodities；　and　the

people；　as　they　can　afford　it；　as　they　have　more　commodities　to

give　for　it；　will　naturally　purchase　a　greater　and　a　greater

quantity　of　plate。　The　quantity　of　their　coin　will　increase　from

necessity；　the　quantity　of　their　plate　from　vanity　and

ostentation；　or　from　the　same　reason　that　the　quantity　of　fine

statues；　pictures；　and　of　every　other　luxury　and　curiosity；　is

likely　to　increase　among　them。　But　as　statuaries　and　painters　are

not　likely　to　be　worse　rewarded　in　times　of　wealth　and　prosperity

than　in　times　of　poverty　and　depression；　so　gold　and　silver　are

not　likely　to　be　worse　paid　for。

　　　　　The　price　of　gold　and　silver；　when　the　accidental　discovery

of　more　abundant　mines　does　not　keep　it　down；　as　it　naturally

rises　with　the　wealth　of　every　country；　so；　whatever　be　the　state

of　the　mines；　it　is　at　all　times　naturally　higher　in　a　rich　than

in　a　poor　country。　Gold　and　silver；　like　all　other　commodities；

naturally　seek　the　market　where　the　best　price　is　given　for　them；

and　the　best　price　is　commonly　given　for　every　thing　in　the

country　which　can　best　afford　it。　Labour；　it　must　be　remembered；

is　the　ultimate　price　which　is　paid　for　everything；　and　in

countries　where　labour　is　equally　well　regarded；　the　money　price

of　labour　will　be　in　proportion　to　that　of　the　subsistence　of　the

labourer。　But　gold　and　silver　will　naturally　exchange　for　a

greater　quantity　of　subsistence　in　a　rich　than　in　a　poor　country；

in　a　country　which　abounds　with　subsistence　than　in　one　which　is

but　indifferently　supplied　with　it。　If　the　two　countries　are　at　a

great　distance；　the　difference　may　be　very　great；　because　though

the　metals　naturally　fly　from　the　worse　to　the　better　market；　yet

it　may　be　difficult　to　transport　them　in　such　quantities　as　to

bring　their　price　nearly　to　a　level　in　both。　If　the　countries　are

near；　the　difference　will　be　smal