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