334 



CHAP. II. 



Schemes, for the Encouragement of Indujlry, and Advancement of ManufaC' 

 titres, whofe Utility is quejiionable. 



Sect. i. 



On Bounties. 



Dr. Smith combats the utility of bounties, and prohibitions, (which al- 

 ways go together, in theory) with great {trength of reafoning. 



" That the monopoly of the home market (fays he) frequently gives 

 " great encouragement, to that particular fpecies of indullry, which enjoys 

 *' it, and turns towards that employment, a greater fliare, of both the la- 

 " hour, and ftock of the fociety, than would otherwife have gone to it, 

 " cannot be doubted. But whether it tends, cither to encreafe the general 

 *' induflry of the fociety ; or, to give it the moft advantageous direftion, is 

 *' not, perhaps, altogether fo certain. 



" The general induftry of the fociety, never can exceed, what the capital 

 " of the fociety can employ ; as the number of workmen, that can be kept in 

 " employment, by any particular perfon, muft bear a certain proportion to 

 •' his capital ; fo, the number of perfons, that can be employed, by all the 

 *' metiibcrs of a great fociety, muft bear a certain proportion to the whole 



capital 



