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An Inquiry Into the Nature and Causes of the Wealth of Nations

Adam Smith · 1776 (composed/publication period); modern imprint not specified beyond a 1852 reprint primary

passage 791 of 803 · BOOK I. > L.21,333,333 : 6 : 8. In the course of the second Punic war, the As was still further reduced, first, from two ounces of copper to one ounce, and afterwards from one ounce to half an ounce; that is, to the twenty-fourth part of its original value. By combining the three Roman operations into one, a debt of a hundred and twenty-eight millions of our present money, might in this manner be reduced all at once to a debt of L.5,333,333 : 6 : 8. Even the enormous debt of Great Britain might in this manner soon be paid. (44/56)

in brief
This passage begins mid-discussion, citing how Roman coinage was repeatedly reduced during the Second Punic War and claiming that such reductions could quickly erase a huge public debt.

Physics, the ancient system of, explained, 322.

Pin-making, the extraordinary advantage of a division of labour in this art, 3.

Plate of private families, the melting it down to supply state exigencies, an insignificant resource, 178. New plate is chiefly made from old, 225.

Ploughmen, their knowledge more extensive than the generality of mechanics, 53.

Pneumatics, the science of, explained, 323.

Poivre, M. his account of the agriculture of Chochin-China, 66.

Poland, a country still kept in poverty by the feudal system of its government, 101.

Political economy, the two distinct objects and two different systems of, 173. The present agricultural system of, adopted by French philosophers, described, 275. Classes of the people who contribute to the annual produce of the land, ib. How proprietors contribute, ib. How cultivators contribute, ib. Artificers and manufacturers unproductive, 276. The unproductive classes maintained by the others, 277. Bad tendency of restrictions and prohibitions in trade, 279. How this system is delineated by M. Quesnai. The bad effects of an injudicious political economy, how corrected, 280. The capital error in this system pointed out, ib.

Poll-taxes, origin of, under the feudal government, 162, 163. Why esteemed badges of slavery, 362. The nature of, considered, 367.

Poor, history of the laws made for the provision of, in England, 57.

Pope of Rome, the great power formerly assumed by, 335. His power how reduced, 337. Rapid progress of the Reformation, 338.

Population, riches and extreme poverty equally unfavourable to, 33. Is limited by the means of subsistence, ib., 69.

Porter, the proportion of malt used in the brewing of, 376.

Portugal, the cultivation of the country not advanced by its commerce, 171, 172. The value of gold and silver there depreciated by prohibiting their exportation, 208. Translation of the commercial treaty concluded in 1703 with England, 223. A large share of the Portugal gold sent annually to England, ib. Motives that led to the discovery of a passage to the East round the Cape of Good Hope, 229. Lost its manufactures by acquiring rich and fertile colonies, 251.

Post-office, a mercantile project, well calculated for being managed by a government, 344.

Potatoes, remarks on, as an article of food, 67. Culture and great produce of, ib. The difficulty of preserving them the great obstacle to cultivating them for general diet, 68.

Poverty, sometimes urges nations to inhuman customs, 1. Is no check to the production of children, 33. But very unfavourable to raising them, ib.

Poultry, the cause of their cheapness, 95. Is a more important article of rural economy in France than in England, ib.

Pragmatic sanction in France, the object of, 337. Is followed by the concordat, ib.

Preferments, ecclesiastical, the means by which a national clergy ought to be managed by the civil magistrate, 335. Alterations in the mode of electing to them, ib., 337.

Presbyterian church government, the nature of, described, 340. Character of the clergy of, ib., 341.

Prices, real and nominal, of commodities, distinguished, 14. Money price of goods explained, 19. Rent for land enters into the price of the greater part of all commodities, 21. The component parts of the price of goods explained, ib. Natural and market prices distinguished, and how governed, 23, 36. Though raised at first by an increase of demand, always reduced by it in the result, 314.

Primogeniture, origin and motive of the law of succession by, under the feudal government, 157. In contrary to the real interest of families, 158.

Princes, why not well calculated to manage mercantile projects for the sake of a revenue, 344.

Prodigality, the natural tendency of, both to the individual and to the public, 138. Prodigal men enemies to their country, 140.

Produce of land and labour the source of all revenue, 136. The value of, how to be increased, 141.

Professors in Universities, circumstances which determine their merit, 340, 341.

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topics: money, coin, and credit · public finance and debt

An Inquiry Into the Nature and Causes of the Wealth of Nations · Adam Smith · 1776