wealbk01- 第13部分

could　have　no　interest　to　employ　a　great　stock　rather　than　a

small　one；　unless　his　profits　were　to　bear　some　proportion　to　the

extent　of　his　stock。

　　　　　The　profits　of　stock；　it　may　perhaps　be　thought　are　only　a

different　name　for　the　wages　of　a　particular　sort　of　labour；　the

labour　of　inspection　and　direction。　They　are；　however；　altogether

different；　are　regulated　by　quite　different　principles；　and　bear

no　proportion　to　the　quantity；　the　hardship；　or　the　ingenuity　of

this　supposed　labour　of　inspection　and　direction。　They　are

regulated　altogether　by　the　value　of　the　stock　employed；　and　are

greater　or　smaller　in　proportion　to　the　extent　of　this　stock。　Let

us　suppose；　for　example；　that　in　some　particular　place；　where　the

common　annual　profits　of　manufacturing　stock　are　ten　per　cent；

there　are　two　different　manufactures；　in　each　of　which　twenty

workmen　are　employed　at　the　rate　of　fifteen　pounds　a　year　each；

or　at　the　expense　of　three　hundred　a　year　in　each　manufactory。

Let　us　suppose；　too；　that　the　coarse　materials　annually　wrought

up　in　the　one　cost　only　seven　hundred　pounds；　while　the　finer

materials　in　the　other　cost　seven　thousand。　The　capital　annually

employed　in　the　one　will　in　this　case　amount　only　to　one　thousand

pounds；　whereas　that　employed　in　the　other　will　amount　to　seven

thousand　three　hundred　pounds。　At　the　rate　of　ten　per　cent；

therefore；　the　undertaker　of　the　one　will　expect　a　yearly　profit

of　about　one　hundred　pounds　only；　while　that　of　the　other　will

expect　about　seven　hundred　and　thirty　pounds。　But　though　their

profits　are　so　very　different；　their　labour　of　inspection　and

direction　may　be　either　altogether　or　very　nearly　the　same。　In

many　great　works　almost　the　whole　labour　of　this　kind　is

committed　to　some　principal　clerk。　His　wages　properly　express　the

value　of　this　labour　of　inspection　and　direction。　Though　in

settling　them　some　regard　is　had　commonly；　not　only　to　his　labour

and　skill；　but　to　the　trust　which　is　reposed　in　him；　yet　they

never　bear　any　regular　proportion　to　the　capital　of　which　he

oversees　the　management；　and　the　owner　of　this　capital；　though　he

is　thus　discharged　of　almost　all　labour；　still　expects　that　his

profits　should　bear　a　regular　proportion　to　his　capital。　In　the

price　of　commodities；　therefore；　the　profits　of　stock　constitute

a　component　part　altogether　different　from　the　wages　of　labour；

and　regulated　by　quite　different　principles。

　　　　　In　this　state　of　things；　the　whole　produce　of　labour　does

not　always　belong　to　the　labourer。　He　must　in　most　cases　share　it

with　the　owner　of　the　stock　which　employs　him。　Neither　is　the

quantity　of　labour　commonly　employed　in　acquiring　or　producing

any　commodity；　the　only　circumstance　which　can　regulate　the

quantity　which　it　ought　commonly　to　purchase；　command；　or

exchange　for。　An　additional　quantity；　it　is　evident；　must　be　due

for　the　profits　of　the　stock　which　advanced　the　wages　and

furnished　the　materials　of　that　labour。

　　　　　As　soon　as　the　land　of　any　country　has　all　become　private

property；　the　landlords；　like　all　other　men；　love　to　reap　where

they　never　sowed；　and　demand　a　rent　even　for　its　natural　produce。

The　wood　of　the　forest；　the　grass　of　the　field；　and　all　the

natural　fruits　of　the　earth；　which；　when　land　was　in　common；　cost

the　labourer　only　the　trouble　of　gathering　them；　come；　even　to

him；　to　have　an　additional　price　fixed　upon　them。　He　must　then

pay　for　the　licence　to　gather　them；　and　must　give　up　to　the

landlord　a　portion　of　what　his　labour　either　collects　or

produces。　This　portion；　or；　what　comes　to　the　same　thing；　the

price　of　this　portion；　constitutes　the　rent　of　land；　and　in　the

price　of　the　greater　part　of　commodities　makes　a　third　component

part。

　　　　　The　real　value　of　all　the　different　component　parts　of

price；　it　must　be　observed；　is　measured　by　the　quantity　of　labour

which　they　can；　each　of　them；　purchase　or　command。　Labour

measures　the　value　not　only　of　that　part　of　price　which　resolves

itself　into　labour；　but　of　that　which　resolves　itself　into　rent；

and　of　that　which　resolves　itself　into　profit。

　　　　　In　every　society　the　price　of　every　commodity　finally

resolves　itself　into　some　one　or　other；　or　all　of　those　three

parts；　and　in　every　improved　society；　all　the　three　enter　more　or

less；　as　component　parts；　into　the　price　of　the　far　greater　part

of　commodities。

　　　　　In　the　price　of　corn；　for　example；　one　part　pays　the　rent　of

the　landlord；　another　pays　the　wages　or　maintenance　of　the

labourers　and　labouring　cattle　employed　in　producing　it；　and　the

third　pays　the　profit　of　the　farmer。　These　three　parts　seem

either　immediately　or　ultimately　to　make　up　the　whole　price　of

corn。　A　fourth　part；　it　may　perhaps　be　thought；　is　necessary　for

replacing　the　stock　of　the　farmer；　or　for　compensating　the　wear

and　tear　of　his　labouring　cattle；　and　other　instruments　of

husbandry。　But　it　must　be　considered　that　the　price　of　any

instrument　of　husbandry；　such　as　a　labouring　horse；　is　itself

made　up　of　the　same　three　parts；　the　rent　of　the　land　upon　which

he　is　reared；　the　labour　of　tending　and　rearing　him；　and　the

profits　of　the　farmer　who　advances　both　the　rent　of　this　land；

and　the　wages　of　this　labour。　Though　the　price　of　the　corn；

therefore；　may　pay　the　price　as　well　as　the　maintenance　of　the

horse；　the　whole　price　still　resolves　itself　either　immediately

or　ultimately　into　the　same　three　parts　of　rent；　labour；　and

profit。

　　　　　In　the　price　of　flour　or　meal；　we　must　add　to　the　price　of

the　corn；　the　profits　of　the　miller；　and　the　wages　of　his

servants；　in　the　price　of　bread；　the　profits　of　the　baker；　and

the　wages　of　his　servants；　and　in　the　price　of　both；　the　labour

of　transporting　the　corn　from　the　house　of　the　farmer　to　that　of

the　miller；　and　from　that　of　the　miner　to　that　of　the　baker；

together　with　the　profits　of　those　who　advance　the　wages　of　that

labour。

　　　　　The　price　of　flax　resolves　itself　into　the　same　three　parts

as　that　of　corn。　In　the　price　of　linen　we　must　add　to　this　price

the　wages　of　the　flaxdresser；　of　the　spinner；　of　the　weaver；　of

the　bleacher；　etc。；　together　with　the　profits　of　their　respective

employers。

　　　　　As　any　particular　commodity　comes　to　be　more　manufactured；

that　part　of　the　price　which　resolves　itself　into　wages　and

profit　comes　to　be　greater　in　proportion　to　that　which　resolves

itself　into　rent。　In　the　progress　of　the　manufacture；　not　only

the　number　of　profits　increase；　but　every　subsequent　profit　is

greater　than　the　foregoing；　because　the　capital　from　which　it　is

derived　must　always　be　greater。　The　capital　which　employs　the

weavers；　for　example；　must　be　greater　than　that　which　employs　the

spinners；　because　it　not　only　replaces　that　capital　with　its

profits；　but　pays；　besides；　the　wages　of　the　weavers；　and　the

profits　must　always　bear　some　proportion　to　the　capital。

　　　　　In　the　most　improved　societies；　however；　there　are　always　a

few　commodities　of　which　the　price　resolves　itself　into　two　parts

only；　the　wages　of　labour；　and　the　profits　of　stock；　and　a　still

smaller　number；　in　which　it　consists　altogether　in　the　wages　of

labour。　In　the　price　of　sea…fish；　for　example；　one　part　pays　the

labour　of　the　fishermen；　and　the　other　the　profits　of　the　capital

employed　in　the　fishery。　Rent　very　seldom　makes　any　part　of　it；

though　it　does　sometimes；　as　I　shall　show　hereafter。　It　is

otherwise；　at　least　through　the　greater　part　of　Europe；　in　river

fisheries。　A　salmon　fishery　pays　a　rent；　and　rent；　though　it

cannot　well　be　called　the　rent　of　land；　makes　a　part　of　the　price

of　a　salmon　as　well　as　wages　and　profit。　In　some　parts　of

Scotland　a　few　poor　people　make　a　trade　of　gathering；　along　the

sea…shore；　those　little　variegated　stones　commonly　known　by　the

name　of　Scotch　Pebbles。　The　price　which　is　paid　to　them　by　the

stone…cutter　is　altogether　the　wages　of　their　labour；　neither

rent　nor　profit　make　any　part　of　it。

　　　　　But　the　whole　price　of　any　commodity　must　still　finally

resolve　itself　into　some　one　or　other；　or　all　of　those　three

parts；　as　whatever　part　of　it　remains　after　paying　the　rent　of

the　land；　and　the　price　of　the　whole　labour　employed　in　raising；

manufacturing；　and　bringing　it　to　market；　must　necessarily　be

profit　to　somebody。

　　　　　As　the　price　or　exchangeable　value　of　every　particular

commodity；　taken　separately；　resolves　itself　into　some　one　or

other　or　all　of　those　three　parts；　so　that　of　all　the　commodities

which　compose　the　whole　annual　produce　of　the　labour　of　every

country；　taken　complexly；　must　resolve　itself　into　the　same　three

parts；　and　be　parcelled　out　among　different　inhabitants　of　the

country；　either　as　the　wages　of　their　labour；　the　profits　of

their　stock；　or　the　rent　of　their　land。　The　whole　of　what　is

annually　either　collected　or　produced　by　the　labour　of　every

society；　or　what　comes　to　the　same　thing；　the　whole　price　of　it；

is　in　this　manner　originally　distributed　among