Most people may be divided into two classes:
- the shallow thinkers, who fall short of the truth
- the abstruse thinkers, who go beyond it.
- This is by far the most rare and the most useful and valuable
- They suggest hints, at least, and start difficulties, which they want, perhaps, skill to pursue but which may produce fine discoveries, when handled by men who have a more just way of thinking
- At worst, what they say is uncommon
- If it should cost some pains to comprehend it, one has, however, the pleasure of hearing something that is new
All people of shallow thought are apt to decry even those  of solid understanding, as abstruse thinkers, and metaphysicians, and refiners.
- They will never allow anything to be just which is beyond their own weak conceptions.
- There are some cases, where:
- an extraordinary refinement affords a strong presumption of falsehood, and
- no reasoning is to be trusted but what is natural and easy.
When a man deliberates on his conduct in any particular affair, and forms schemes in politics, trade, œconomy, or any business in life, he should never:
- draw his arguments too fine, or
- connect too long a chain of consequences together.
Something will disconcert his reasoning, and produce an event different from what he expected.
But when we reason on general subjects, our speculations can scarcely ever be too fine, provided they be just.
- The difference between a common man and a man of genius is chiefly seen in the shallowness or depth of their principles.
- General reasonings seem intricate, merely because they are general
- nor is it easy for the bulk of mankind to distinguish, in many particulars, that common circumstance in which they all agree, or to extract it, pure and unmixed, from the other superfluous circumstances.
- Every judgment or conclusion, with them, is particular.
- They cannot enlarge their view to those universal propositions, which comprehend under them an infinite number of individuals, and include a whole science in a single theorem.
- Their eye is confounded with such an extensive prospect;
- The conclusions, derived from it, even though clearly expressed, seem intricate and obscure.
- But however intricate they may seem, general principles, if just and sound, must always prevail in the general course of things, though they may fail in particular cases; and it is the chief business of philosophers to regard the general course of things.
- It is also the chief business of politicians; especially in the domestic government of the state, where the public good, which is, or ought to be their object, depends on the concurrence of a multitude of causes;1 not, as  in foreign politics, on accidents and chances, and the caprices of a few persons.
- This makes the difference between particular deliberations and general reasonings.
- It renders subtilty and refinement much more suitable to the latter than to the former.
This introduction is necessary before the following discourses on commerce, money, interest, balance of trade, etc.a because there are some principles which are:
- uncommon, and
- too refined and subtile for such vulgar subjects.
If false, let them be rejected.
- But no one should have a prejudice against them, merely because they are out of the common road.
The greatness of a state, and the happiness of its subjects, how independent soever they may be supposed in some respects, are inseparable with regard to commerce.
- Private men receive greater security, in the possession of their trade and riches, from the power of the public, so the public becomes powerful in proportion to the opulence and extensive commerce of private men.
- This maxim is true in general;
- though I cannot forbear thinking, that it may possibly admit of exceptions, and that we often establish it with too little reserve and limitation.
- There may be some circumstances, where the commerce and riches and luxury of individuals, instead of adding strength to the public, will serve only to thin its armies, and diminish its authority among the neighbouring nations.
- Man is a very variable being,  and susceptible of many different opinions, principles, and rules of conduct.
- What may be true, while he adheres to one way of thinking, will be found false, when he has embraced an opposite set of manners and opinions.
The bulk of every state may be divided into
- husbandmen and
- These are employed in the culture of the land
- These work up the materials furnished by the husbandmen into all the commodities which are necessary or ornamental to human life.
As soon as men quit their savage state, where they live chiefly by hunting and fishing, they must fall into these two classes;
- Initially, the agricultural arts employ the most of society.2
- Time and experience improve so much these arts, that the land may easily maintain more men, than those who are immediately employed in its culture, or who furnish the more necessary manufactures to such as are so employed.
If these superfluous hands apply themselves to the finer arts, which are commonly denominated the arts of luxury, they add to the happiness of the state.
- They afford to many the opportunity of receiving enjoyments, with which they would otherwise have been unacquainted.
- But may not another scheme be proposed for the employment of these superfluous hands?
- May not the sovereign lay claim to them, and employ them in fleets and armies, to encrease the dominions of the state abroad, and spread its fame over distant nations?
- The fewer desires and wants are found in the proprietors and labourers of land, the fewer hands do they employ;
- Consequently the superfluities of the land,  instead of maintaining tradesmen and manufacturers, may support fleets and armies to a much greater extent, than where a great many arts are required to minister to the luxury of particular persons.
- Here therefore seems to be a kind of opposition between the greatness of the state and the happiness of the subject.
- A state is never greater than when all its superfluous hands are employed in the service of the public.
- The ease and convenience of private persons require, that these hands should be employed in their service.
- The one can never be satisfied, but at the expence of the other.
- As the ambition of the sovereign must entrench on° the luxury of individuals; so the luxury of individuals must diminish the force, and check the ambition of the sovereign.
This reasoning is not chimerical.
- It is founded on history and experience.
- The republic of Sparta was certainly more powerful than any state now in the world, consisting of an equal number of people.
- and this was owing entirely to the want of commerce and luxury.
- The Helotes were the labourers.
- The Spartans were the soldiers or gentlemen.
- The labour of the Helotes could not have maintained so many Spartans, had these Spartans lived in ease and delicacy, and given employment to a great variety of trades and manufactures.
- The same is true in Rome.
- Throughout all ancient history, the smallest republics raised and maintained greater armies, than states four times their size at present.
- In all European nations, the proportion between soldiers and people does not exceed 1:100.
- But we read, that Rome alone, with its small territory, raised and maintained, in early times, ten legions against the Latins.3
- Athens, the whole of whose dominions was not larger than Yorkshire, sent to the expedition against Sicily near 40,000 men.4
- Dionysius the elder  maintained a standing army of 100,000 foot and 10,000 horse, besides a large fleet of 400 sail;5 though his territories extended no farther than the city of Syracuse, about 1/3 of the island of Sicily, and some sea-port towns and garrisons on the coast of Italy and Illyricum.6
- The ancient armies, in time of war, subsisted much upon plunder.
- But did not the enemy plunder in their turn? which was a more ruinous way of levying a tax, than any other that could be devised.
- In short, the ancient states only had greater power compared to the modern states because of their lack of commerce and luxury.
- Few artizans were maintained by the labour of the farmers, and therefore more soldiers might live upon it.
- Livy says, that Rome, in his time, would find it difficult to raise as large an army as that which, in her early days, she sent out against the Gauls and Latins.7
- Instead of those soldiers who fought for liberty and empire in Camillus’s time, there were, in Augustus’s days, musicians, painters, cooks, players, and tailors;
- If the land was equally cultivated at both periods, it could certainly maintain equal numbers in the one profession as in the other.
- They added nothing to the mere necessaries of life, in the latter period more than in the former.
It is natural on this occasion to ask, whether sovereigns may not return to the maxims of ancient policy, and consult their own interest in this respect, more than the happiness of their  subjects?
- It seems almost impossible.
- Ancient policy was violent, and contrary to the more natural and usual course of things.
- It is well known with what peculiar laws Sparta was governed, and what a prodigy that republic is justly esteemed by every one, who has considered human nature as it has displayed itself in other nations, and other ages.
- Were the testimony of history less positive and circumstantial,° such a government would appear a mere philosophical whim or fiction, and impossible ever to be reduced to practice.
- Though the Roman and other ancient republics were supported on principles somewhat more natural, yet was there an extraordinary concurrence of circumstances to make them submit to such grievous burthens.°
- They were free states.
- They were small ones.
- The age was martial.
- All their neighbours were continually in arms.
- Freedom naturally begets public spirit, especially in small states.
- This public spirit, this amor patriæ,° must encrease, when the public is almost in continual alarm, and men are obliged, every moment, to expose themselves to the greatest dangers for its defence.
- A continual succession of wars makes every citizen a soldier.
- He takes the field in his turn.
- During his service, he is chiefly maintained by himself.
- This service is equivalent to a heavy tax.
- Yet is it less felt by a people addicted to arms, who fight for honour and revenge more than pay, and are unacquainted with gain and industry as well as pleasure.8
- Not to mention the great equality of fortunes among the inhabitants of the ancient republics, where every field, belonging to a different proprietor, was able to maintain a family, and rendered the numbers of citizens very considerable, even without trade and manufactures.
The lack of trade and manufactures, among a free and very martial people, might only render the public more powerful.
- But in the common course of human affairs, it is sure to have a contrary tendency.
- Sovereigns must take mankind as they find them.
- They cannot pretend to introduce any violent change in their principles and ways of thinking.
- A long course of time, with a variety of accidents and circumstances, are needed to produce those great revolutions, which so much diversify the face of human affairs.
- The less natural any set of principles are, which support a particular society, the more difficulty will a legislator meet with in raising and cultivating them.
- It is his best policy to comply with the common bent of mankind, and give it all the improvements of which it is susceptible.
- Now, according to the most natural course of things, industry and arts and trade encrease the power of the sovereign as well as the happiness of the subjects; and that policy is violent, which aggrandizes the public by the poverty of individuals.
- This will easily appear from a few considerations, which will present to us the consequences of sloth and barbarity.
Where manufactures and mechanic arts are not cultivated, the bulk of the people must apply themselves to agriculture;
- If their skill and industry encrease, there must arise a great superfluity from their labour beyond what suffices to maintain  them.
- They have no temptation, therefore, to encrease their skill and industry; since they cannot exchange that superfluity for any commodities, which may serve either to their pleasure or vanity.
- A habit of indolence naturally prevails.
- Most of the land lies uncultivated.
- What is cultivated, yields not its utmost for want of skill and assiduity in the farmers.
- If at any time the public exigencies require, that great numbers should be employed in the public service, the labour of the people furnishes now no superfluities, by which these numbers can be maintained. The labourers cannot encrease their skill and industry on a sudden.°
- Lands uncultivated cannot be brought into tillage for some years.
- The armies, meanwhile, must either make sudden and violent conquests, or disband for want of subsistence.
- A regular attack or defence, therefore, is not to be expected from such a people.
- Their soldiers must be as ignorant and unskilful as their farmers and manufacturers.
Everything in the world is purchased by labour.
- Our passions are the only causes of labour.
- When a nation abounds in manufactures and mechanic arts, the proprietors of land, as well as the farmers, study agriculture as a science, and redouble their industry and attention.
- The superfluity, which arises from their labour, is not lost; but is exchanged with manufactures for those commodities, which men’s luxury now makes them covet.
- By this means, land furnishes a great deal more of the necessaries of life, than what suffices for those who cultivate it.
- In times of peace and tranquillity, this superfluity goes to the maintenance of manufacturers, and the improvers of liberal arts.
- But it is easy for the public to convert many of these manufacturers into soldiers, and maintain them by that superfluity, which arises from the labour of the farmers.
- Accordingly we find, that this is the case in all civilized governments. When the sovereign raises an army, what is the consequence?
- He imposes a tax.
- This tax obliges all the people to retrench° what is least necessary to their subsistence.
- Those, who labour in such commodities, must either enlist in the troops, or turn themselves to agriculture, and thereby  oblige some labourers to enlist for want of business.
- Manufactures increase the state’s power only as they store up so much labour that can be claimed by the public, without depriving any one of the necessaries of life.
- The more labour employed beyond mere necessaries, the more powerful is any state, since the persons engaged in that labour may easily be converted to the public service.
- In a state without manufactures, there may be the same number of hands.
- But there is not the same quantity of labour, nor of the same kind.
- All the labour is there bestowed on necessaries, which can admit of little or no abatement.°
Thus the greatness of the sovereign and the happiness of the state are, in a great measure, united with regard to trade and manufactures.
- It is violent and impracticable to oblige the labourer to toil, in order to raise from the land more than what he or his family needs.
- Furnish him with manufactures and commodities, and he will do it himself.
- Afterwards you will find it easy to seize some part of his superfluous labour, and employ it in the public service, without giving him his wonted° return.
- Being accustomed to industry, he will think this less grievous, than if, at once, you obliged him to an augmentation of labour without any reward.
- The case is the same with the other members of the state.
- The greater is the stock of labour of all kinds, the greater quantity may be taken from the heap, without making any sensible alteration in it.
All of the following are the real riches and strength in any state:
- a public granary of wheat
- a storehouse of cloth
- a magazine of arms
Trade and industry are really nothing but a stock of labour, which, in times of peace and tranquillity, is employed for the ease and satisfaction of individuals;
- but in the exigencies of state, may, in part, be turned to public advantage.
If we converted a city into a fortified camp, and infuse into each breast a martial genius, and passion for public good, as to make every one willing to undergo the greatest hardships for the sake of the public; these affections  might now, as in ancient times, be enough to spur to industry, and support the community.
It would then be advantageous, as in camps, to banish all arts and luxury
and, by restrictions on equipage and tables, make the provisions and forage last longer than if the army were loaded with a number of superfluous retainers.
But as these principles are too disinterested and too difficult to support, it is requisite to govern men by other passions, and animate them with a spirit of avarice and industry, art and luxury.
The camp is, in this case, loaded with a superfluous retinue; but the provisions flow in proportionably larger.
The harmony of the whole is still supported.
The natural bent of the mind being more complied with, individuals, as well as the public, find their account in the observance of those maxims.
The same method of reasoning will let us see the advantage of foreign commerce, in augmenting the power of the state, as well as the riches and happiness of the subject.
It encreases the stock of labour in the nation; and the sovereign may convert what share of it he finds necessary to the service of the public.
- Foreign trade, by its imports, furnishes materials for new manufactures.
- By its exports, it produces labour in particular commodities, which could not be consumed at home.
In short, a kingdom, that has a large import and export, must abound more with industry, and that employed upon delicacies and luxuries, than a kingdom which rests contented with its native commodities.
- It is, therefore, more powerful, as well as richer and happier.
- The individuals reap the benefit of these commodities, so far as they gratify the senses and appetites.
- The public is also a gainer, while a greater stock of labour is, by this means, stored up against any public exigency; that is, a greater number of laborious men are maintained, who may be diverted to the public service, without robbing any one of the necessaries, or even the chief conveniencies of life.
In most nations, foreign trade has preceded any refinement in home manufactures, and given birth to domestic luxury.
- The temptation  is stronger to make use of foreign commodities, which are ready for use, and which are entirely new to us, than to make improvements on any domestic commodity, which always advance by slow degrees, and never affect us by their novelty.
- The profit is also very great, in exporting what is superfluous at home, and what bears no price, to foreign nations, whose soil or climate is not favourable to that commodity.
- Thus men become acquainted with the pleasures of luxury and the profits of commerce;
- Once their delicacy and industry is awakened, they carry them on to farther improvements, in every branch of domestic and foreign trade.
- This perhaps is the chief advantage which arises from a commerce with strangers.
- It rouses men from their indolence.
- and presenting the gayer and more opulent part of the nation with objects of luxury, which they never before dreamed of, raises in them a desire of a more splendid way of life than what their ancestors enjoyed.
- At the same time, the few merchants, who possess the secret of this importation and exportation, make great profits; and becoming rivals in wealth to the ancient nobility, tempt other adventurers to become their rivals in commerce.
- Imitation soon diffuses all those arts; while domestic manufactures emulate the foreign in their improvements, and work up every home commodity to the utmost perfection of which it is susceptible.
- Their own steel and iron, in such laborious hands, become equal to the gold and rubies of the Indies.
When the affairs of the society are once brought to this situation, a nation may lose most of its foreign trade, and yet continue a great and powerful people.
- If strangers will not take any particular commodity of ours, we must cease to labour in it.
- The same hands will turn themselves towards some refinement in other commodities, which may be wanted at home.
- There must always be materials for them to work upon; till every person in the state, who possesses riches, enjoys as great plenty of home commodities, and those in as great perfection, as he desires; which can never possibly happen.
- China is represented as one of the most flourishing empires in the world; though it has very little commerce beyond its own territories.
The multitude of mechanical arts is advantageous, so is the many persons to whose share the productions of these arts fall.
- A too great disproportion among the citizens weakens any state.
- Every person should enjoy the fruits of his labour, in a full possession of all the necessaries, and many of the conveniencies of life.
- No one can doubt, but such an equality is most suitable to human nature, and diminishes much less from the happiness of the rich than it adds to that of the poor.
- It also augments the power of the state, and makes any extraordinary taxes or impositions be paid with more cheerfulness.
- Where the riches are engrossed° by a few, these must contribute very largely to the supplying of the public necessities.
- But when the riches are dispersed among multitudes, the burden feels light on every shoulder, and the taxes make not a very sensible difference on any one’s way of living.
- Where the riches are in few hands, these must enjoy all the power.
- They will readily conspire to:
- lay the whole burden on the poor, and
- oppress them still further, to the discouragement of all industry.
- They will readily conspire to:
This is the great advantage of England above any nation in the world in history.
- The English feel some disadvantages in foreign trade by the high price of labour.
- This is due to:
- the riches of their artisans, and
- the plenty of money
- But foreign trade is not the most material circumstance
- it is not to be put in competition with the happiness of so many millions.
- And if there were no more to endear to them that free government under which they live, this alone were sufficient.
- The poverty of the common people is a natural, if not an infallible effect of absolute monarchy; though I doubt, whether it be always true, on the other hand, that their riches are an infallible result of liberty.
- Liberty must be attended with particular accidents, and a certain turn of thinking, in order to produce that effect.
- Lord Bacon, accounting for the great advantages obtained by the English in their wars with France, ascribes them  chiefly to the superior ease and plenty of the common people amongst the former;
- yet the government of the two kingdoms was, at that time, pretty much alike.9
- Where the labourers and artisans are accustomed to work for low wages, and to retain but a small part of the fruits of their labour, it is difficult for them, even in a free government, to better their condition, or conspire among themselves to heighten their wages.
- But even where they are accustomed to a more plentiful way of life, it is easy for the rich, in an arbitrary government, to conspire against them, and throw the whole burthen of the taxes on their shoulders.
It may seem odd that the poverty of the common people in France, Italy, and Spain, is, in some measure, owing to the superior riches of the soil and happiness of the climate
- yet there are reasons to justify this paradox.
- In such a fine mould or soil as that of those more southern regions, agriculture is an easy art
- one man, with a couple of sorry° horses, will be able, in a season, to cultivate as much land as will pay a pretty considerable rent to the proprietor.
- All the art, which the farmer knows, is to leave his ground fallow° for a year, as soon as it is exhausted.
- The warmth of the sun alone and temperature of the climate enrich it, and restore its fertility.
- Such poor peasants, therefore, require only a simple maintenance for their labour.
- They have no stock or riches, which claim more.
- At the same time, they are for ever dependant on their landlord, who gives no leases, nor fears that his land will be spoiled by the ill methods of cultivation.
In England, the land is rich, but coarse; must be cultivated at a great expence; and produces slender crops, when not carefully managed, and by a method which gives not the full profit but in a course of several years.
A farmer, therefore, in England must have a considerable stock, and a long lease; which beget proportional profits.
The fine vineyards of Champagne and Burgundy,10 that often yield to the landlord  above five pounds per acre, are cultivated by peasants, who have scarcely bread:
The reason is, that such peasants need no stock but their own limbs, with instruments of husbandry, which they can buy for twenty shillings.
The farmers are commonly in some better circumstances in those countries.
But the grasiers° are most at their ease of all those who cultivate the land.
The reason is still the same. Men must have profits proportionable to their expence and hazard.
Where so considerable a number of the labouring poor as the peasants and farmers are in very low circumstances, all the rest must partake of their poverty, whether the government of that nation be monarchical or republican.
Why are there no people living between the tropics that ever attained to any art or civility, or reach even any police° in their government and military discipline; while few nations in the temperate climates have been deprived of these advantages?
- One cause is the warmth and equality of weather in the torrid zone.
- It renders clothes and houses less requisite for the inhabitants, and thereby remove, in part, that necessity, which is the great spur to industry and invention.
- Curis acuens mortalia corda.11
- The fewer goods or possessions of this kind any people enjoy, the fewer quarrels are likely to arise amongst them, and the less necessity will there be for a settled police or regular authority to protect and defend them from foreign enemies, or from each other.