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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 792 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. (45/56)

in brief
This passage is an alphabetical index-style listing on “Professors in Universities” and “Profit,” defining kinds of profit, how profit varies by country and prosperity, and how monopolies raise it.

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

Profit, the various articles of gain that pass under the common idea of, 22. An average rate of, in all countries, 23. Averages of, extremely difficult to ascertain, 37. Interest of money the best standard of, ib. The diminution of, a natural consequence of prosperity, 38. Clear and gross profit distinguished, 40. The nature of the highest ordinary rate of, defined, ib. Double interest deemed in Great Britain a reasonable mercantile profit, ib. In thriving countries low profit may compensate the high wages of labour, 41. The operation of high profits and high wages compared, ib. Compensates inconvenience and disgrace, 42. Of stock, how affected, 46. Large profits must be made from small capitals, 47. Why goods are cheaper in the metropolis than in country villages, ib. Great fortunes more frequently made by trade in large towns than in small ones, ib. Is naturally low in rich, and high in poor countries, 106. How that of the different classes of traders is raised, 148. Private, the sole motive of employing capitals in any branch of business, 154. When raised by monopolies, encourage luxury, 253.

Projects, unsuccessful in arts, injurious to a country, 140.

Property, passions which prompt mankind to the invasion of, 297. Civil government necessary for the production of, ib. Wealth a source of authority, 298.

Provisions, how far the variations in the price of, affect labour and industry, 30, 34, 36. Whether cheaper in the metropolis or in country villages, 47. The prices of, better regulated by competition than by law, 60. A rise in the prices of, must be uniform, to shew that it proceeds from a depreciation of the value of silver, 102.

Provisers, object of the statute of, in England, 337.

Prussia, mode of assessing the land-tax there, 351.

Public works and institutions, how to be maintained, 302. Equity of tolls for passage over roads, bridges and canals, 303. Why government ought not to have the management of turnpikes, 304. Nor of other public works, 306.

Purveyance, a service still exacted in most parts of Europe, 161.

Q

Quakers of Pennsylvania, inference from their resolution to emancipate all their negro slaves, 159.

Quesnai, M. view of his agricultural system of political economy, 279. His doctrine generally subscribed to, 282.

Quito, populousness of that city, 233.

R

Reformation, rapid progress of the doctrines of, in Germany, 338. In Sweden and Switzerland, ib. In England and Scotland, ib. 339. Origin of the Lutheran and the Calvinistic sects, ib.

Regulated companies. See Companies.

Religion, the object of instruction in, 330. Advantage the teachers of a new religion enjoy over those of one that is established, ib. Origin of persecutions for heretical opinions, ib. How the zeal of the inferior clergy of the church of Rome is kept alive, ib. Utility of ecclesiastical establishments, 331. How united with the civil power, ib., 332.

Rent, reserved, ought not to consist of money, 14. But of corn, ib. Of land, constitutes a third part of the price of most kinds of goods, 21. An average rate of, in all countries, and how regulated, 23. Makes the first deduction from the produce of labour employed upon land, 27. The terms of, how adjusted between landlord and tenant, 60, 61. Is sometimes demanded for what is altogether incapable of human improvement, 61. Is paid for, and produced, by land in almost all situations, ib. The general proportion paid for coal mines, 71. And metal mines, ib. Mines of precious stones frequently yield no rent, 73. How paid in ancient times, 76. Is raised, either directly or indirectly, by every improvement in the circumstances of society, 105. Gross and neat rent distinguished, 115. How raised and paid under feudal governments, 137. Present average proportion of, compared with the produce of the land, ib. Of houses distinguished into two parts, 354. Difference between rent of house and rent of land, 355. Rent of a house the best estimate of a tenants circumstances, ib.

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topics: monarchy and royal succession · money, coin, and credit

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