Political Economy. 227 
May not the national advantage of foreign commerce 
be traced in the following manner ? 
Some nations possess an abundance of rude produce ; 
others, flourishing manufactures ; the interchange of these 
by commerce, appropriates to the commercial nation the 
peculiar advantages of every other ; and raises the whole 
value of its labour^ by sale of manufactured articles, to 
nations abounding in rude produce, and where skilful 
labour is dear — or of rude produce to nations possessing 
improved manufactures and numerous population, and^ 
where rude produce is consequently dear. This inter- 
change of labour between nations, is similar in its effects 
to the division of labour among individuals, to which the 
most powerful effects have been justly attributed; or it 
may be considered as a division of labour upon a large 
scale ; giving the highest stimulus to industry, both by 
introducing new articles of convenience, and extending the 
markets for home products; and realizing, without loss 
to the nation, a profit to the capital emplo 3 ^ed in foreign 
commerce, upon the whole of the foreign labour engaged 
in furnishing the articles of trade ; which operates like an 
accession of population and territoiqx'^ 
* These hints might be extended, shewing the increase of 
value of the whole national stock; the direction given to labour 
and production, spreading wealth over the country, and adopting 
the advantages of other nations as fast as they can be realized at 
home ; it is through the chcainel of capital, wealth must flow ; 
land is limited by nature, and labour must be fed, but capital may 
always make terms and embrace opportunities,— by which labour 
is gradually reduced to the standard of subsistence. The basis of 
capital is labour, whether employed in reflned manufactures, or 
in bringing forward natural productions, according to circum- 
stances of situation, soil, climate, abundance or cheapness of land, 
See. Where great diversity exists among foreign nations, be- 
tween whom trade is free, commercial capital flows into what is 
called carrying trade, which is perhaps only effecting two ex- 
changes at one operation. It is, however, only proposed to call 
attention, and leave the subject for the readers reflection. 
