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the　country。　In　the　midst　of　the　most　destructive　foreign　war；

therefore；　the　greater　part　of　manufactures　may　frequently

flourish　greatly；　and；　on　the　contrary；　they　may　decline　on　the

return　of　the　peace。　They　may　flourish　amidst　the　ruin　of　their

country；　and　begin　to　decay　upon　the　return　of　its　prosperity。

The　different　state　of　many　different　branches　of　the　British

manufactures　during　the　late　war；　and　for　some　time　after　the

peace；　may　serve　as　an　illustration　of　what　has　been　just　now

said。

　　　　　No　foreign　war　of　great　expense　or　duration　could

conveniently　be　carried　on　by　the　exportation　of　the　rude　produce

of　the　soil。　The　expense　of　sending　such　a　quantity　of　it　to　a

foreign　country　as　might　purchase　the　pay　and　provisions　of　an

army　would　be　too　great。　Few　countries　produce　much　more　rude

produce　than　what　is　sufficient　for　the　subsistence　of　their　own

inhabitants。　To　send　abroad　any　great　quantity　of　it；　therefore；

would　be　to　send　abroad　a　part　of　the　necessary　subsistence　of

the　people。　It　is　otherwise　with　the　exportation　of　manufactures。

The　maintenance　of　the　people　employed　in　them　is　kept　at　home；

and　only　the　surplus　part　of　their　work　is　exported。　Mr。　Hume

frequently　takes　notice　of　the　inability　of　the　ancient　kings　of

England　to　carry　on；　without　interruption；　any　foreign　war　of

long　duration。　The　English；　in　those　days；　had　nothing

wherewithal　to　purchase　the　pay　and　provisions　of　their　armies　in

foreign　countries；　but　either　the　rude　produce　of　the　soil；　of

which　no　considerable　part　could　be　spared　from　the　home

consumption；　or　a　few　manufactures　of　the　coarsest　kind；　of

which；　as　well　as　of　the　rude　produce；　the　transportation　was　too

expensive。　This　inability　did　not　arise　from　the　want　of　money；

but　of　the　finer　and　more　improved　manufactures。　Buying　and

selling　was　transacted　by　means　of　money　in　England　then　as　well

as　now。　The　quantity　of　circulating　money　must　have　borne　the

same　proportion　to　the　number　and　value　of　purchases　and　sales

usually　transacted　at　that　time；　which　it　does　to　those

transacted　at　present；　or　rather　it　must　have　borne　a　greater

proportion；　because　there　was　then　no　paper；　which　now　occupies　a

great　part　of　the　employment　of　gold　and　silver。　Among　nations　to

whom　commerce　and　manufactures　are　little　known；　the　sovereign；

upon　extraordinary　occasions；　can　seldom　draw　any　considerable

aid　from　his　subjects；　for　reasons　which　shall　be　explained

hereafter。　It　is　in　such　countries；　therefore；　that　he　generally

endeavours　to　accumulate　a　treasure；　as　the　only　resource　against

such　emergencies。　Independent　of　this　necessity；　he　is　in　such　a

situation　naturally　disposed　to　the　parsimony　requisite　for

accumulation。　In　that　simple　state；　the　expense　even　of　a

sovereign　is　not　directed　by　the　vanity　which　delights　in　the

gaudy　finery　of　a　court；　but　is　employed　in　bounty　to　his

tenants；　and　hospitality　to　his　retainers。　But　bounty　and

hospitality　very　seldom　lead　to　extravagance；　though　vanity

almost　always　does。　Every　Tartar　chief；　accordingly；　has　a

treasure。　The　treasures　of　Mazepa；　chief　of　the　Cossacs　in　the

Ukraine；　the　famous　ally　of　Charles　the　XII；　are　said　to　have

been　very　great。　The　French　kings　of　the　Merovingian　race　all　had

treasures。　When　they　divided　their　kingdom　among　their　different

children；　they　divided　their　treasure　too。　The　Saxon　princes；　and

the　first　kings　after　the　Conquest；　seem　likewise　to　have

accumulated　treasures。　The　first　exploit　of　every　new　reign　was

commonly　to　seize　the　treasure　of　the　preceding　king；　as　the　most

essential　measure　for　securing　the　succession。　The　sovereigns　of

improved　and　commercial　countries　are　not　under　the　same

necessity　of　accumulating　treasures；　because　they　can　generally

draw　from　their　subjects　extraordinary　aids　upon　extraordinary

occasions。　They　are　likewise　less　disposed　to　do　so。　They

naturally；　perhaps　necessarily；　follow　the　mode　of　the　times；　and

their　expense　comes　to　be　regulated　by　the　same　extravagant

vanity　which　directs　that　of　all　the　other　great　proprietors　in

their　dominions。　The　insignificant　pageantry　of　their　court

becomes　every　day　more　brilliant；　and　the　expense　of　it　not　only

prevents　accumulation；　but　frequently　encroaches　upon　the　funds

destined　for　more　necessary　expenses。　What　Dercyllidas　said　of

the　court　of　Persia　may　be　applied　to　that　of　several　European

princes；　that　he　saw　there　much　splendour　but　little　strength；

and　many　servants　but　few　soldiers。

　　　　　The　importation　of　gold　and　silver　is　not　the　principal；

much　less　the　sole　benefit　which　a　nation　derives　from　its

foreign　trade。　Between　whatever　places　foreign　trade　is　carried

on；　they　all　of　them　derive　two　distinct　benefits　from　it。　It

carries　out　that　surplus　part　of　the　produce　of　their　land　and

labour　for　which　there　is　no　demand　among　them；　and　brings　back

in　return　for　it　something　else　for　which　there　is　a　demand。　It

gives　a　value　to　their　superfluities；　by　exchanging　them　for

something　else；　which　may　satisfy　a　part　of　their　wants；　and

increase　their　enjoyments。　By　means　of　it　the　narrowness　of　the

home　market　does　not　hinder　the　division　of　labour　in　any

particular　branch　of　art　or　manufacture　from　being　carried　to　the

highest　perfection。　By　opening　a　more　extensive　market　for

whatever　part　of　the　produce　of　their　labour　may　exceed　the　home

consumption；　it　encourages　them　to　improve　its　productive　powers；

and　to　augment　its　annual　produce　to　the　utmost；　and　thereby　to

increase　the　real　revenue　and　wealth　of　the　society。　These　great

and　important　services　foreign　trade　is　continually　occupied　in

performing　to　all　the　different　countries　between　which　it　is

carried　on。　They　all　derive　great　benefit　from　it；　though　that　in

which　the　merchant　resides　generally　derives　the　greatest；　as　he

is　generally　more　employed　in　supplying　the　wants；　and　carrying

out　the　superfluities　of　his　own；　than　of　any　other　particular

country。　To　import　the　gold　and　silver　which　may　be　wanted　into

the　countries　which　have　no　mines　is；　no　doubt；　a　part　of　the

business　of　foreign　commerce。　It　is；　however；　a　most

insignificant　part　of　it。　A　country　which　carried　on　foreign

trade　merely　upon　this　account　could　scarce　have　occasion　to

freight　a　ship　in　a　century。

　　　　　It　is　not　by　the　importation　of　gold　and　silver　that　the

discovery　of　America　has　enriched　Europe。　By　the　abundance　of　the

American　mines；　those　metals　have　become　cheaper。　A　service　of

plate　can　now　be　purchased　for　about　a　third　part　of　the　corn；　or

a　third　part　of　the　labour；　which　it　would　have　cost　in　the

fifteenth　century。　With　the　same　annual　expense　of　labour　and

commodities；　Europe　can　annually　purchase　about　three　times　the

quantity　of　plate　which　it　could　have　purchased　at　that　time。　But

when　a　commodity　comes　to　be　sold　for　a　third　part　of　what　had

been　its　usual　price；　not　only　those　who　purchased　it　before　can

purchase　three　times　their　former　quantity；　but　it　is　brought

down　to　the　level　of　a　much　greater　number　of　purchasers；　perhaps

to　more　than　ten；　perhaps　to　more　than　twenty　times　the　former

number。　So　that　there　may　be　in　Europe　at　present　not　only　more

than　three　times；　but　more　than　twenty　or　thirty　times　the

quantity　of　plate　which　would　have　been　in　it；　even　in　its

present　state　of　improvement；　had　the　discovery　of　the　American

mines　never　been　made。　So　far　Europe　has；　no　doubt；　gained　a　real

conveniency；　though　surely　a　very　trifling　one。　The　cheapness　of

gold　and　silver　renders　those　metals　rather　less　fit　for　the

purposes　of　money　than　they　were　before。　In　order　to　make　the

same　purchases；　we　must　load　ourselves　with　a　greater　quantity　of

them；　and　carry　about　a　shilling　in　our　pocket　where　a　groat

would　have　done　before。　It　is　difficult　to　say　which　is　most

trifling；　this　inconveniency　or　the　opposite　conveniency。　Neither

the　one　nor　the　other　could　have　made　any　very　essential　change

in　the　state　of　Europe。　The　discovery　of　America；　however；

certainly　made　a　most　essential　one。　By　opening　a　new　and

inexhaustible　market　to　all　the　commodities　of　Europe；　it　gave

occasion　to　new　divisions　of　labour　and　improvements　of　art；

which　in　the　narrow　circle　of　the　ancient　commerce；　could　never

have　taken　place　for　want　of　a　market　to　take　off　the　greater

part　of　their　produce。　The　productive　powers　of　labour　were

improved；　and　its　produce　increased　in　all　the　different

countries　of　Europe；　and　together　with　it　the　real　revenue　and

wealth　of　the　inhabitants。　The　commodities　of　Europe　were　almost

all　new　to　America；　and　many　of　those　of　America　were　new　to

Europe。　A　new　set　of　exchanges；　therefore；　began　to　take　place

which　had　never　been　thought　of　before；　and　which　should

naturally　have　proved　as　advantageous　to　the　new；　as　it　certainly

did　to　the　old　continent。　The　savage　injustice　of　the　Europeans

rendered　an　event；　which　ought　to　have　been　beneficial　to　all；

ruinous　and　destructive　to　several　of　those　unfortunate

countries。

　　　　　The　discovery　of　a　passage　to　the　East　Indies　by　the　Cape　of

Good　Hope；　which　happened　much　about　the　same　time；　opened

perhaps　a　still　more　extensive　range　to　foreign　commerce　than

even　that　of　America；　notwithstanding　the　greater　distance。　There

were　but　two　nations　in　America　in　any　respect　superior　to

savages；　and　these　were　destroyed　almost　as　soon　as　discovered。

The　rest　were　mere　savages。　But　the　empires　of　China；　Indostan；

Japan；　as　well　as　several　others　in　the　East　Indies；　without

having　richer　mines　of　gold　or　silver；　were　in　every　other

respect　much　richer；　better　cultivated；　and　more　advanced　in　all

arts　and　manufactures　than　either　Mexico　or　Peru；　even　though　we

should　credit；　what　plainly　deserves　no　credit；　the　exaggerated

accounts　of　the　Spanish　writers　concerning　the　ancient　state　of

those　empires。　But　rich　and　civilised　nations　can　always　exchange

to　a　much　greater　value　with　one　another　than　with　savages　and

barbarians。　Europe；　however；　has　hitherto　derived　much　less

advantage　from　its　commerce　with　the　East　Indies　than