A Complete Analysis, Or Abridgment Of Dr. A. Smith's Inquiry Into The Nature And Causes Of The Wealth Of Nations

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1804. Excerpt: ... ment. The quantity of industry not Only increase's with the increase of stock, but in consequence of that increase, the same quantity of industry producesa greater quantity of work. P. 407--9. CHAP. t. Of the division of stock. THE poor man derives no revenue from his stock) his revenue is derived from his labour. P, 410. When a man possesses much stock, he reserves only a part of it for immediate consumption, from the remainder he endeavours to derive a revenue. His stock is therefore distinguished into that which is to afford him this revenue, which is called his capital; and into that which supplies his immediate consumption; and which consists 1.) In what was originally reserved tor this purpose: or (2.) In his revenue, as it comes-in: or (3.) In things purchased before, such as a stock of clothes, household-furniture, &e. P. 411. A capital may yielda revenue,--First, by beingenv ployed in raising, manufacturing, or purchasing goods, and selling them again with a profit. The capir tal employed in this manner, affords no revenue till the goods are sold, and others purchased with the money; it is only by circulation that it can yield a profit; it may therefore be called a circulating capital, P. 411. Seoondly, it may be employed in the improvement of land, and in purchasing instruments of trade, which yield profit without changiug masters. Such capitals may be called fixed capitals. Different occupation require different proportions, between the circulating and fixed capitals emploj'ed in them. The capital of a merchant is altogether circulating, unless his warehouse be considered as a fixed capital. Every mas» ter, artificer, or manufacturer must have some fixed capital. A taylor or a shoemaker needs but a small fixed capital; in iron works and co...