WEALTH OF NATIONS. 139 



Hitherto we have been treating only of labour, and of 

 matters immediately and directly connected with it ; but 

 in the remaining six chapters of the first book, Dr. Smith 

 considers other subjects, namely, capital and its profits, 

 or the revenue it yields, and also the manner in which all 

 exchanges are effected. As every thing is the produce of 

 labour, as "all is the gift of industry," there maybe some 

 ground for thus reducing all within the bounds of the 

 same book ; nevertheless, these other subjects would have 

 been more logically kept distinct from labour, inasmuch 

 as the five chapters which we have analysed, relate to 

 labour alone, and to labour of every kind, and labour 

 forms the only subject of their discussion ; whereas the 

 remaining six relate to other things as well as labour, 

 and the greater part of these discussions refer not to 

 labour at all. 



ii. The second subdivision of the book relates to the 

 manner of effecting exchanges ; and this introduces, first, 

 the subject of money; and great part of the fifth chapter 

 treats of the money price of commodities, as contradis- 

 tinguished from their real price. It includes, secondly, 

 the subject of prices. The sixth and seventh chapters 

 treat of this. 



1. The great inconvenience of traffic by barter, which 

 made it impossible for one person to exchange any com- 

 modity with another, unless each wanted exactly the 

 same quantity which the other had to give, equally im- 

 possible to obtain what was wanted in one place, without 

 sending what was redundant to the other place, and 

 equally impossible to obtain what was wanted at one 

 time from a person who did not want the thing given for 

 it at the same time, set men upon making two inventions, 



