If it was not with tobacco and East India goods, but with gold and silver, that England paid for the commodities annually imported from France, the balance, in this case, would be supposed uneven, commodities not being paid for with commodities, but with gold and silver.The trade, however, would, in this case, as in the foregoing, give some revenue to the inhabitants of both countries, but more to those of France than to those of England.It would give some revenue to those of England.The capital which had been employed in producing the English goods that purchased this gold and silver, the capital which had been distributed among, and given revenue to, certain inhabitants of England, would thereby be replaced and enabled to continue that employment.The whole capital of England would no more be diminished by this exportation of gold and silver than by the exportation of an equal value of any other goods.On the contrary, it would in most cases be augmented.No goods are sent abroad but those for which the demand is supposed to be greater abroad than at home, and of which the returns consequently, it is expected, will be of more value at home than the commodities exported.If the tobacco which, in England, is worth only a hundred thousand pounds, when sent to France will purchase wine which is, in England, worth a hundred and ten thousand, this exchange will equally augment the capital of England by ten thousand pounds.If a hundred thousand pounds of English gold, in the same manner, purchase French wine which, in England, is worth a hundred and ten thousand, this exchange will equally augment the capital of England by ten thousand pounds.As a merchant who has a hundred and ten thousand pounds worth of wine in his cellar is a richer man than he who has only a hundred thousand pounds worth of tobacco in his warehouse, so is he likewise a richer man than he who has only a hundred thousand pounds worth of gold in his coffers.He can put into motion a greater quantity of industry, and give revenue, maintenance, and employment to a greater number of people than either of the other two.But the capital of the country is equal to the capitals of all its different inhabitants, and the quantity of industry which can be annually maintained in it is equal to what all those different capitals can maintain.Both the capital of the country, therefore, and the quantity of industry which can be annually maintained in it, must generally be augmented by this exchange.
It would, indeed, be more advantageous for England that it could purchase the wines of France with its own hardware and broadcloth than with either the tobacco of Virginia or the gold and silver of Brazil and Peru.A direct foreign trade of consumption is always more advantageous than a roundabout one.But a round-about foreign trade of consumption, which is carried on with gold and silver, does not seem to be less advantageous than any other equally round-about one.Neither is a country which has no mines more likely to be exhausted of gold and silver by this annual exportation of those metals than one which does not grow tobacco by the like annual exportation of that plant.As a country which has wherewithal to buy tobacco will never be long in want of it, so neither will one be long in want of gold and silver which has wherewithal to purchase those metals.
It is a losing trade, it is said, which a workman carries on with the alehouse; and the trade which a manufacturing nation would naturally carry on with a wine country may be considered as a trade of the same nature.I answer, that the trade with the alehouse is not necessarily a losing trade.In its own nature it is just as advantageous as any other, though perhaps somewhat more liable to be abused.The employment of a brewer, and even that of a retailer of fermented liquors, are as necessary divisions of labour as any other.It will generally be more advantageous for a workman to buy of the brewer the quantity he has occasion for than to brew it himself, and if he is a poor workman, it will generally be more advantageous for him to buy it by little and little of the retailer than a large quantity of the brewer.He may no doubt buy too much of either, as he may of any other dealers in his neighbourhood, of the butcher, if he is a glutton, or of the draper, if he affects to be a beau among his companions.It is advantageous to the great body of workmen, notwithstanding, that all these trades should be free, though this ******* may be abused in all of them, and is more likely to be so, perhaps, in some than in others.Though individuals, besides, may sometimes ruin their fortunes by an excessive consumption of fermented liquors, there seems to be no risk that a nation should do so.Though in every country there are many people who spend upon such liquors more than they can afford, there are always many more who spend less.It deserves to be remarked too, that, if we consult experience, the cheapness of wine seems to be a cause, not of drunkenness, but of sobriety.