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which　puts　into　motion　a　great　part　of　the　business　of　mankind。

By　rendering　the　colony　produce　dearer　in　all　other　countries；　it

lessens　its　consumption；　and　thereby　cramps　the　industry　of　the

colonies；　and　both　the　enjoyments　and　the　industry　of　all　other

countries；　which　both　enjoy　less　when　they　pay　more　for　what　they

enjoy；　and　produce　less　when　they　get　less　for　what　they　produce。

By　rendering　the　produce　of　all　other　countries　dearer　in　the

colonies；　it　cramps；　in　the　same　manner　the　industry　of　all　other

countries；　and　both　the　enjoyments　and　the　industry　of　the

colonies。　It　is　a　clog　which；　for　the　supposed　benefit　of　some

particular　countries；　embarrasses　the　pleasures　and　encumbers　the

industry　of　all　other　countries；　but　of　the　colonies　more　than　of

any　other。　It　not　only　excludes；　as　much　as　possible；　all　other

countries　from　one　particular　market；　but　it　confines；　as　much　as

Possible；　the　colonies　to　one　particular　market；　and　the

difference　is　very　great　between　being　excluded　from　one

particular　market；　when　all　others　are　open；　and　being　confined

to　one　particular　market；　when　all　others　are　shut　up。　The

surplus　produce　of　the　colonies；　however；　is　the　original　source

of　all　that　increase　of　enjoyments　and　industry　which　Europe

derives　from　the　discovery　and　colonization　of　America；　and　the

exclusive　trade　of　the　mother　countries　tends　to　render　this

source　much　less　abundant　than　it　otherwise　would　be。

　　　　　The　particular　advantages　which　each　colonizing　country

derives　from　the　colonies　which　particularly　belong　to　it　are　of

two　different　kinds；　first；　those　common　advantages　which　every

empire　derives　from　the　provinces　subject　to　its　dominion；　and；

secondly；　those　peculiar　advantages　which　are　supposed　to　result

from　provinces　of　so　very　peculiar　a　nature　as　the　European

colonies　of　America。

　　　　　The　common　advantages　which　every　empire　derives　from　the

provinces　subject　to　its　dominion　consist；　first；　in　the　military

force　which　they　furnish　for　its　defence；　and；　secondly；　in　the

revenue　which　they　furnish　for　the　support　of　its　civil

government。　The　Roman　colones　furnished　occasionally　both　the　one

and　the　other。　The　Greek　colonies；　sometimes；　furnished　a

military　force；　but　seldom　any　revenue。　They　seldom　acknowledged

themselves　subject　to　the　dominion　of　the　mother　city。　They　were

generally　her　allies　in　war；　but　very　seldom　her　subjects　in

peace。

　　　　　The　European　colonies　of　America　have　never　yet　furnished

any　military　force　for　the　defence　of　the　mother　country。　Their

military　force　has　never　yet　been　sufficient　for　their　own

defence；　and　in　the　different　wars　in　which　the　mother　countries

have　been　engaged；　the　defence　of　their　colonies　has　generally

occasioned　a　very　considerable　distraction　of　the　military　force

of　those　countries。　In　this　respect；　therefore；　all　the　European

colonies　have；　without　exception；　been　a　cause　rather　of　weakness

than　of　strength　to　their　respective　mother　countries。

　　　　　The　colonies　of　Spain　and　Portugal　only　have　contributed　any

revenue　towards　the　defence　of　the　mother　country；　or　the　support

of　her　civil　government。　The　taxes　which　have　been　levied　upon

those　of　other　European　nations；　upon　those　of　England　in

particular；　have　seldom　been　equal　to　the　expense　laid　out　upon

them　in　time　of　peace；　and　never　sufficient　to　defray　that　which

they　occasioned　in　time　of　war。　Such　colonies；　therefore；　have

been　a　source　of　expense　and　not　of　revenue　to　their　respective

mother　countries。

　　　　　The　advantages　of　such　colonies　to　their　respective　mother

countries　consist　altogether　in　those　peculiar　advantages　which

are　supposed　to　result　from　provinces　of　so　very　peculiar　a

nature　as　the　European　colonies　of　America；　and　the　exclusive

trade；　it　is　acknowledged；　is　the　sole　source　of　all　those

peculiar　advantages。

　　　　　In　consequence　of　this　exclusive　trade；　all　that　part　of　the

surplus　produce　of　the　English　colonies；　for　example；　which

consists　in　what　are　called　enumerated　commodities；　can　be　sent

to　no　other　country　but　England。　Other　countries　must　afterwards

buy　it　of　her。　It　must　be　cheaper　therefore　in　England　than　it

can　be　in　any　other　country；　and　must　contribute　more　to　increase

the　enjoyments　of　England　than　those　of　any　other　country。　It

must　likewise　contribute　more　to　encourage　her　industry。　For　all

those　parts　of　her　own　surplus　produce　which　England　exchanges

for　those　enumerated　commodities；　she　must　get　a　better　price

than　any　other　countries　can　get　for　the　like　parts　of　theirs；

when　they　exchange　them　for　the　same　commodities。　The

manufacturers　of　England；　for　example；　will　purchase　a　greater

quantity　of　the　sugar　and　tobacco　of　her　own　colonies　than　the

like　manufactures　of　other　countries　can　purchase　of　that　sugar

and　tobacco。　So　far；　therefore；　as　the　manufactures　of　England

and　those　of　other　countries　are　both　to　be　exchanged　for　the

sugar　and　tobacco　of　the　English　colonies；　this　superiority　of

price　gives　an　encouragement　to　the　former　beyond　what　the　latter

can　in　these　circumstances　enjoy。　The　exclusive　trade　of　the

colonies；　therefore；　as　it　diminishes；　or　at　least　keeps　down

below　what　they　would　otherwise　rise　to；　both　the　enjoyments　and

the　industry　of　the　countries　which　do　not　possess　it；　so　it

gives　an　evident　advantage　to　the　countries　which　do　possess　it

over　those　other　countries。

　　　　　This　advantage；　however；　will　perhaps　be　found　to　be　rather

what　may　be　called　a　relative　than　an　absolute　advantage；　and　to

give　a　superiority　to　the　country　which　enjoys　it　rather　by

depressing　the　industry　and　produce　of　other　countries　than　by

raising　those　of　that　particular　country　above　what　they　would

naturally　rise　to　in　the　case　of　a　free　trade。

　　　　　The　tobacco　of　Maryland　and　Virginia；　for　example；　by　means

of　the　monopoly　which　England　enjoys　of　it；　certainly　comes

cheaper　to　England　than　it　can　do　to　France；　to　whom　England

commonly　sells　a　considerable　part　of　it。　But　had　France；　and　all

other　European　countries　been；　at　all　times；　allowed　a　free　trade

to　Maryland　and　Virginia；　the　tobacco　of　those　colonies　might；　by

this　time；　have　come　cheaper　than　it　actually　does；　not　only　to

all　those　other　countries；　but　likewise　to　England。　The　produce

of　tobacco；　in　consequence　of　a　market　so　much　more　extensive

than　any　which　it　has　hitherto　enjoyed；　might；　and　probably

would；　by　this　time；　have　been　so　much　increased　as　to　reduce　the

profits　of　a　tobacco　plantation　to　their　natural　level　with　those

of　a　corn　plantation；　which；　it　is　supposed；　they　are　still

somewhat　above。　The　price　of　tobacco　might；　and　probably　would；

by　this　time；　have　fallen　somewhat　lower　than　it　is　at　present。

An　equal　quantity　of　the　commodities　either　of　England　or　of

those　other　countries　might　have　purchased　in　Maryland　and

Virginia　a　greater　quantity　of　tobacco　than　it　can　do　at　present；

and　consequently　have　been　sold　there　for　so　much　a　better　price。

So　far　as　that　weed；　therefore；　can；　by　its　cheapness　and

abundance；　increase　the　enjoyments　or　augment　the　industry　either

of　England　or　of　any　other　country；　it　would；　probably；　in　the

case　of　a　free　trade；　have　produced　both　these　effects　in

somewhat　a　greater　degree　than　it　can　do　at　present。　England；

indeed；　would　not　in　this　case　have　had　any　advantage　over　other

countries。　She　might　have　bought　the　tobacco　of　her　colonies

somewhat　cheaper；　and　consequently　have　sold　some　of　her　own

commodities　somewhat　dearer　than　she　actually　does。　But　she　could

neither　have　bought　the　one　cheaper　nor　sold　the　other　dearer

than　any　other　country　might　have　done。　She　might；　perhaps　have

gained　an　absolute；　but　she　would　certainly　have　lost　a　relative

advantage。

　　　　　In　order；　however；　to　obtain　this　relative　advantage　in　the

colony　trade；　in　order　to　execute　the　invidious　and　malignant

project　of　excluding　as　much　as　possible　other　nations　from　any

share　in　it；　England；　there　are　very　probable　reasons　for

believing；　has　not　only　sacrificed　a　part　of　the　absolute

advantage　which　she；　as　well　as　every　other　nation；　might　have

derived　from　that　trade；　but　has　subjected　herself　both　to　an

absolute　and　to　a　relative　disadvantage　in　almost　every　other

branch　of　trade。

　　　　　When；　by　the　Act　of　Navigation；　England　assumed　to　herself

the　monopoly　of　the　colony　trade；　the　foreign　capitals　which　had

before　been　employed　in　it　were　necessarily　withdrawn　from　it。

The　English　capital；　which　had　before　carried　on　but　a　part　of

it；　was　now　to　carry　on　the　whole。　The　capital　which　had　before

supplied　the　colonies　with　but　a　part　of　the　goods　which　they

wanted　from　Europe　was　now　all　that　was　employed　to　supply　them

with　the　whole。　But　it　could　not　supply　them　with　the　whole；　and

the　goods　with　which　it　did　supply　them　were　necessarily　sold

very　dear。　The　capital　which　had　before　bought　but　a　part　of　the

surplus　produce　of　the　colonies；　was　now　all　that　was　employed　to

buy　the　whole。　But　it　could　not　buy　the　whole　at　anything　near

the　old　price；　and；　therefore；　whatever　it　did　buy　it　necessarily

bought　very　cheap。　But　in　an　employment　of　capital　in　which　the

merchant　sold　very　dear　and　bought　very　cheap；　the　profit　must

have　been　very　great；　and　much　above　the　ordinary　level　of　profit

in　other　branches　of　trade。　This　superiority　of　profit　in　the

colony　trade　could　not　fail　to　draw　from　other　branches　of　trade

a　part　of　the　capital　which　had　before　been　employed　in　them。　But

this　revulsion　of　capital；　as　it　must　have　gradually　increased

the　competition　of　capitals　in　the　colony　trade；　so　it　must　have

gradually　diminished　that　competition　in　all　those　other　branches

of　trade；　as　it　must　have　gradually　lowered　the　profits　of　the

one；　so　it　must　have　gradually　raised　those　of　the　other；　till

the　profits　of　all　came　to　a　new　level；　different　from　and

somewhat　higher　than　that　at　which　they　had　been　before。

　　　　　This　double　effect　of　drawing　capital　from　all　other　trades；

and　of　raising　the　rate　of　profit　somewhat　higher　than　it

otherwise　would　h