:

iv

Of the different Progress of Opulence in

different Nations.

CHAP. I.

Of the natural Progress of Opulence

CHAP. II.

Page 73

Of the Discouragement of Agriculture in the

ancient State of Europe after the Fall of the

Roman Empire

-

CHAP. III.

-

Of the Rife and Progress of Cities and Towns,

after the Fall of the Roman Empire

CHAP. IV.

81

-

99

How the Commerce of the Towns contributed to

the Improvement of the Country

-

117

1

Of Restraints upon the Importation from fo-

reign Countries of fuch Goods as can be

produced at Home

CHAP.

-

III.

-

139

176

Of the extraordinary Restraints upon the Im-

portation of Goods of almost all Kinds,

from those Countries with which the Ba-

lance is supposed to be disadvantageous

209

PART I. Of the Unreasonableness of those

Restraints even upon the Principles of the

Commercial System

-

-

ibid.

Digression concerning Banks of Depofit, parti-

cularly concerning that of Amsterdam

219

PART II. Of the Unreasonableness of those

extraordinary Restraints upon other Prin-

ciples

-

-

-

235

has derived from the Discovery of America,

and from that of a Passage to the East Indies

!

Of the Accumulation of Capital, or of productive and

TH

unproductive Labour.

11. CHAP. II.

HERE is one fort of labour which воок adds to the value of the subject upon which it is bestowed: there is another which has no such effect. The former, as it produces a value, may be called productive; the latter, unproductive * labour. Thus the labour of a manufacturer adds, generally, to the value of the materials which he works upon, that of his own

* Some French authors of great learning and ingenuity have used those words in a different sense. In the last chapter of the fourth book, I shall endeavour to show that their sense

is an improper one.
VOL. II.

2

THE NATURE AND CAUSES OF

воок maintenance, and of his master's profit. The II. ☑ labour of a menial servant, on the contrary, adds to the value of nothing. Though the manufacturer has his wages advanced to him by his master, he, in reality, costs him no expence, the value of those wages being generally restored, together with a profit, in the improved value of the subject upon which his labour is bestowed. But the maintenance of a menial servant never is restored. A man grows rich by employing á multitude of manufacturers: he grows poor, by maintaining a multitude of menial servants. The labour of the latter, however, has its value, and deserves its reward as well as that of the former. But the labour of the manufacturer fixes and realizes itself in some particular fubject or vendible commodity, which lasts for some time at least after that labour is past. It is, as it were, a certain quantity of labour stocked and stored up to be employed, if necessary, upon some other occafion. That subject, or what is the same thing, the price of that subject, can afterwards, if neceffary, put into motion a quantity of labour equal to that which had originally produced it. The labour of the menial fervant, on the contrary, does not fix or realize itself in any particular fubject or vendible commodity. His fervices generally perish in the very inftant of their performance, and seldom leave any trace or value behind them, for which an equal quantity of fervice could afterwards be procured.

THE labour of fome of the most respectable orders in the society is, like that of menial fer