In The Same Manner If Any Nation

If A Commodity Were In No Way Useful, - In Other Words, If It Could In No Way Contribute To Our Gratification, - It Would Be Destitute Of Exchangeable Value, However Scarce It Might Be, Or Whatever Quantity Of Labour Might Be Necessary To Procure It.

Gold And Silver Are No Doubt Subject To Fluctuations, From The Discovery Of New And More Abundant Mines; But Such Discoveries Are Rare, And Their Effects, Though Powerful, Are Limited To Periods Of Comparatively Short Duration.

But A Tax On Luxuries Would No Other Effect Than To Raise Their Price. It Would Fall Wholly On The Consumer, And Could Neither Increase Wages Nor Lower Profits.

Labour, Like All Other Things Which Are Purchased And Sold, And Which May Be Increased Or Diminished In Quantity, Has Its Natural And Its Market Price. The Natural Price Of Labour Is That Price Which Is Necessary To Enable The Labourers, On With Another, To Subsist And To Perpetuate Their Race, Without Either Increase Or Diminution.

There Is No Way Of Keeping Profits Up But By Keeping Wages Down.