The Importation Of Gold And

In Raising The Price Of Commodities, The Rise Of Wages Operates In The Same Manner As Simple Interest Does In The Accumulation Of Debt. Our Merchants And Master Manufacturers Complain Much Of The Bad Effects Of High Wages In Raising The Price, And Thereby Lessening The Sale Of Their Goods, Both At Home And Abroad. They Say Nothing Concerning The Bad Effects Of High Profits; They Are Silent With Regard To The Pernicious Effects Of Their Own Gains. They Complain Only Of Those Of Other People.

The Directors Of Such Companies, However, Being The Managers Rather Of Other People's Money Than Of Their Own, It Cannot Well Be Expected, That They Should Watch Over It With The Same Anxious Vigilance With Which The Partners In A Private Copartnery Frequently Watch Over Their Own.... Negligence And Profusion, Therefore, Must Always Prevail, More Or Less, In The Management Of The Affairs Of Such A Company.

The Division Of Labour Was Limited By The Extent Of The Market

Justice, However, Never Was In Reality Administered Gratis In Any Country. Lawyers And Attornies, At Least, Must Always Be Paid By The Parties; And, If They Were Not, They Would Perform Their Duty Still Worse Than They Actually Perform It.

Masters Are Always And Everywhere In A Sort Of Tacit, But Constant And Uniform Combination, Not To Raise The Wages Of Labor.