16.67

THE

WORKS

OF

ADAM SMITH, LL.D.

AND F.R.S. OF LONDON AND EDINBURGH:

ONE OF THE COMMISSIONERS OF HIS MAJESTY'S CUSTOMS

'IN SCOTLAND;
AND FORMERLY PROFESSOR OF MORAL PHILOSOPHY

IN THE UNIVERSITY OF GLASGOW.

WITH AN ACCOUNT OF
HIS LIFE AND WRITINGS

BY DUGALD STEWART,
PROFESSOR OF MORAL PHILOSOPHY IN THE UNIVERSITY, AND
FELLOW OF TIL ROYAL SOCIETY, OF EDINBURGH,

&c. &c. &c.

IN FIVE VOLUMES.

VOL. II.

LONDON: PRINTED FOR T. CADELL AND W. DAVIES; F. C. AND J. RIVINGTON ; OTRIDGE

AND SON; P. WINGRAVE; LONGMAN, HURST, REES, ORME, AND BROWN; JOHN RICHARDSON; J. BOOKER; B, CROSBY; E. JEFFERY; W. STEWART; BLACK, PARRY, AND KINGSBURY; S. BAGSTER; J. MAWMAN; J. ASPERNE ; AND R. SCHOLEY; AND W. CREECH, AND BELL AND BRADFUTE, AT EDINBURGH,

CONTENTS

THE SECOND VOLUME,

THE NATURE AND CAUSES OF THE

WEALTH OF NATIONS.

INTRODUCTION AND PLAN OF THE WORK

Page 1

Β Ο Ο Κ Ι.

OF THE CAUSES OF IMPROVEMENT IN THE PRO-

DUCTIVE POWERS OF LABOUR, AND OF THE

ORDER ACCORDING TO WHICH ITS PRODUCE IS

NATURALLY DISTRIBUTED AMONG THE DIFFE-

RENT RANKS OF THE PEOPLE

CHAP. I.

Of the Division of Labour

- ibid.

CHAP. II.

Of the Principle which gives Occasion to the

Divison of Labour -

19

CHAP. III.

9 That the Division of Labour is limited by the

Extent of the Market - - - 26

CHAP. IV.

Of the Origin and Use of Money Page 33

CHAP. V.

Of the real and nominal Price of Commodities, or

of their Price in Labour, and their Price in

Money - - - - - 43

| CHAP. VI.

Of the component Parts of the Price of Commo-

dities - - - - - - 70

CHAP. VII.

Of the natural and market Price of Commo-

dities - - - - - - 82

CHAP. VIII.

Of the Wages of Labour - - - 96

CHAP. IX.

Of the Profits of Stock - - - 133

CHAP. X. '

Of Wages and Profit in the different Employ-

ments of Labour and Stock - - 151

Part I. Inequalities arising from the Nature of the

Employments themselves - - - 152

Part II. Inequalities occafioned by the Policy of

Europe - - - - - 183

| CH AP, XI.

Of the Rent of Land . . . .

PARTI. Of the Produce of Land which always

-

223

affords Rent

227

PART

PART II. Of the Produce of Land which fometimes

does, and sometimes does not, afford Rent Page 252

Part III. Of the Variations in the Proportion be-

tween the respective Values of that Sort of Produce

which always affords Rent, and of that which fome-

times does and sometimes does not afford Rent 273

Digression concerning the Variations in the Value of Silver

during the Course of the Four last Centuries :

Firf Period - - . - - - - 276

Second Period • • • • • • 299

Third Period . . - - - 305

Variations in the Proportions between the respective

Values of Gold and Silver - - - 330

Grounds of the Suspicion that the Value of Silver

Atill continues to decrease . . . 338

Different Effects of the Progress of Improvement

upon the real Price of three different Sorts of rude

Produce -

First Sort

340

Second Sort . .

- 343

Third Sort -

- 359

Conclusion of the Digresion concerning the Variations

in the Value of Silver . - 373

Effects of the Progress of Improvement upon the real

Price of Manufa&tures - · 384

Conclusion of the Chapter

393

339