of the balance of trade- 第1部分

Of　the　Balance　of　Trade

by　David　Hume



　　　　It　is　very　usual；　in　nations　ignorant　of　the　nature　of　commerce；
to　prohibit　the　exportation　of　commodities；　and　to　preserve　among
themselves　whatever　they　think　valuable　and　useful。　They　do　not
consider；　that；　in　this　prohibition；　they　act　directly　contrary　to
their　intention；　and　that　the　more　is　exported　of　any　commodity；　the
more　will　be　raised　at　home；　of　which　they　themselves　will　always　have
the　first　offer。
　　　　It　is　well　known　to　the　learned；　that　the　ancient　laws　of　ATHENS
rendered　the　exportation　of　figs　criminal；　that　being　supposed　a
species　of　fruit　so　excellent　in　ATTICA；　that　the　ATHENIANS　deemed　it
too　delicious　for　the　palate　of　any　foreigner。　And　in　this　ridiculous
prohibition　they　were　so　much　in　earnest；　that　informers　were　thence
called　sycophants　among　them；　from　two　GREEK　words；　which　signify　figs
and　discoverer。　There　are　proofs　in　many　old　acts　of　parliament　of　the
same　ignorance　in　the　nature　of　commerce；　particularly　in　the　reign　of
EDWARD　III　And　to　this　day；　in　FRANCE；　the　exportation　of　corn　is
almost　always　prohibited；　in　order；　as　they　say；　to　prevent　famines；
though　it　is　evident；　that　nothing　contributes　more　to　the　frequent
famines；　which　so　much　distress　that　fertile　country。
　　　　The　same　jealous　fear；　with　regard　to　money；　has　also　prevailed
among　several　nations；　and　it　required　both　reason　and　experience　to
convince　any　people；　that　these　prohibitions　serve　to　no　other　purpose
than　to　raise　the　exchange　against　them；　and　produce　a　still　greater
exportation。
　　　　These　errors；　one　may　say；　are　gross　and　palpable：　But　there　still
prevails；　even　in　nations　well　acquainted　with　commerce；　a　strong
jealousy　with　regard　to　the　balance　of　trade；　and　a　fear；　that　all
their　gold　and　silver　may　be　leaving　them。　This　seems　to　me；　almost　in
every　case；　a　groundless　apprehension；　and　I　should　as　soon　dread；
that　all　our　springs　and　rivers　should　be　exhausted；　as　that　money
should　abandon　a　kingdom　where　there　are　people　and　industry。　Let　us
carefully　preserve　these　latter　advantages；　and　we　need　never　be
apprehensive　of　losing　the　former。
　　　　It　is　easy　to　observe；　that　all　calculations　concerning　the
balance　of　trade　are　founded　on　very　uncertain　facts　and　suppositions。
The　custom…house　books　are　allowed　to　be　an　insufficient　ground　of
reasoning；　nor　is　the　rate　of　exchange　much　better；　unless　we　consider
it　with　all　nations；　and　know　also　the　proportions　of　the　several　sums
remitted；　which　one　may　safely　pronounce　impossible。　Every　man；　who
has　ever　reasoned　on　this　subject；　has　always　proved　his　theory；
whatever　it　was；　by　facts　and　calculations；　and　by　an　enumeration　of
all　the　commodities　sent　to　all　foreign　kingdoms。
　　　　The　writings　of　Mr　GEE　struck　the　nation　with　an　universal　panic；
when　they　saw　it　plainly　demonstrated；　by　a　detail　of　particulars；
that　the　balance　was　against　them　for　so　considerable　a　sum　as　must
leave　them　without　a　single　shilling　in　five　or　six　years。　But
luckily；　twenty　years　have　since　elapsed；　with　an　expensive　foreign
war；　yet　is　it　commonly　supposed；　that　money　is　still　more　plentiful
among　us　than　in　any　former　period。
　　　　Nothing　can　be　more　entertaining　on　this　head　than　Dr。　SWIFT；　an
author　so　quick　in　discerning　the　mistakes　and　absurdities　of　others。
He　says；　in　his　short　view　of　the　state　of　IRELAND；　that　the　whole












cash　of　that　kingdom　formerly　amounted　but　to　500；000　l。；　that　out　of
this　the　IRISH　remitted　every　year　a　neat　million　to　ENGLAND；　and　had
scarcely　any　other　source　from　which　they　could　compensate　themselves；
and　little　other　foreign　trade　than　the　importation　of　FRENCH　wines；
for　which　they　paid　ready　money。　The　consequence　of　this　situation；
which　must　be　owned　to　be　disadvantageous；　was；　that；　in　a　course　of
three　years；　the　current　money　of　IRELAND；　from　500；000　l。　was　reduced
to　less　than　two。　And　at　present；　I　suppose；　in　a　course　of　30　years
it　is　absolutely　nothing。　Yet　I　know　not　how；　that　opinion　of　the
advance　of　riches　in　IRELAND；　which　gave　the　Doctor　so　much
indignation；　seems　still　to　continue；　and　gain　ground　with　every　body。

　　　　In　short；　this　apprehension　of　the　wrong　balance　of　trade；　appears
of　such　a　nature；　that　it　discovers　itself；　wherever　one　is　out　of
humour　with　the　ministry；　or　is　in　low　spirits；　and　as　it　can　never　be
refuted　by　a　particular　detail　of　all　the　exports；　which
counterbalance　the　imports；　it　may　here　be　proper　to　form　a　general
argument；　that　may　prove　the　impossibility　of　this　event；　as　long　as
we　preserve　our　people　and　our　industry。
　　　　Suppose　four…fifths　of　all　the　money　in　GREAT　BRITAIN　to　be
annihilated　in　one　night；　and　the　nation　reduced　to　the　same
condition；　with　regard　to　specie；　as　in　the　reigns　of　the　HARRYS　and
EDWARDS；　what　would　be　the　consequence？　Must　not　the　price　of　all
labour　and　commodities　sink　in　proportion；　and　every　thing　be　sold　as
cheap　as　they　were　in　those　ages？　What　nation　could　then　dispute　with
us　in　any　foreign　market；　or　pretend　to　navigate　or　to　sell
manufactures　at　the　same　price；　which　to　us　would　afford　sufficient
profit？　In　how　little　time；　therefore；　must　this　bring　back　the　money
which　we　had　lost；　and　raise　us　to　the　level　of　all　the　neighbouring
nations？　Where；　after　we　have　arrived；　we　immediately　lose　the
advantage　of　the　cheapness　of　labour　and　commodities；　and　the　farther
flowing　in　of　money　is　stopped　by　our　fulness　and　repletion。
　　　　Again；　suppose；　that　all　the　money　of　GREAT　BRITAIN　were
multiplied　fivefold　in　a　night；　must　not　the　contrary　effect　follow？
Must　not　all　labour　and　commodities　rise　to　such　an　exorbitant　height；
that　no　neighbouring　nations　could　afford　to　buy　from　us；　while　their
commodities；　on　the　other　hand；　became　comparatively。　so　cheap；　that；
in　spite　of　all　the　laws　which　could　be　formed；　they　would　be　run　in
upon　us；　and　our　money　flow　out；　till　we　fall　to　a　level　with
foreigners；　and　lose　that　great　superiority　of　riches；　which　had　laid
us　under　such　disadvantages？
　　　　Now；　it　is　evident；　that　the　same　causes；　which　would　correct
these　exorbitant　inequalities；　were　they　to　happen　miraculously；　must
prevent　their　happening　in　the　common　course　of　nature；　and　must　for
ever；　in　all　neighbouring　nations；　preserve　money　nearly
proportionable　to　the　art　and　industry　of　each　nation。　All　water；
wherever　it　communicates；　remains　always　at　a　level。　Ask　naturalists
the　reason；　they　tell　you；　that；　were　it　to　be　raised　in　any　one
place；　the　superior　gravity　of　that　part　not　being　balanced；　must
depress　it；　till　it　meet　a　counterpoise；　and　that　the　same　cause；
which　redresses　the　inequality　when　it　happens；　must　for　ever　prevent
it；　without　some　violent　external　operation。
　　　　Can　one　imagine；　that　it　had　ever　been　possible；　by　any　laws；　or
even　by　any　art　or　industry；　to　have　kept　all　the　money　in　SPAIN；












which　the　galleons　have　brought　from　the　INDIES？　Or　that　all
commodities　could　be　sold　in　FRANCE　for　a　tenth　of　the　price　which
they　would　yield　on　the　other　side　of　the　PYRENEES；　without　finding
their　way　thither；　and　draining　from　that　immense　treasure？　What　other
reason；　indeed；　is　there；　why　all　nations；　at　present；　gain　in　their
trade　with　SPAIN　and　PORTUGAL；　but　because　it　is　impossible　to　heap　up
money；　more　than　any　fluid；　beyond　its　proper　level？　The　sovereigns　of
these　countries　have　shown；　that　they　wanted　not　inclination　to　keep
their　gold　and　silver　to　themselves；　had　it　been　in　any　degree
practicable。
　　　　But　as　any　body　of　water　may　be　raised　above　the　level　of　the
surrounding　element；　if　the　former　has　no　communication　with　the
later；　so　in　money；　if　the　communication　be　cut　off；　by　any　material
or　physical　impediment；　（for　all　laws　alone　are　ineffectual）　there
may；　in　such　a　case；　be　a　very　great　inequality　of　money。　Thus　the
immense　distance　of　CHINA；　together　with　the　monopolies　of　our　INDIA
companies；　obstructing　the　communication；　preserve　in　EUROPE　the　gold
and　silver；　especially　the　latter；　in　much　greater　plenty　than　they
are　found　in　that　kingdom。　But；　notwithstanding　this　great
obstruction；　the　force　of　the　causes　abovementioned　is　still　evident。
The　skill　and　ingenuity　of　EUROPE　in　general　surpasses　perhaps　that　of
CHINA；　with　regard　to　manual　arts　and　manufactures；　yet　are　we　never
able　to　trade　thither　without　great　disadvantage。　And　were　it　not　for
the　continual　recruits；　which　we　receive　from　AMERICA；　money　would
soon　sink　in　EUROPE；　and　rise　in　CHINA；　till　it　came　nearly　to　a　level
in　both　places。　Nor　can　any　reasonable　man　doubt；　but　that　industrious
nation；　were　they　as　near　us　as　POLAND　or　BARBARY；　would　drain　us　of
the　overplus　of　our　specie；　and　draw　to　themselves　a　larger　share　of
the　WEST　INDIAN　treasures。　We　need　not　have　recourse　to　a　physical
attraction；　in　order　to　explain　the　necessity　of　this　operation。　There
is　a　moral　attraction；　arising　from　the　interests　and　passions　of　men；
which　is　full　as　potent　and　infallible。
　　　　How　is　the　balance　kept　in　the　provinces　of　every　kingdom　among
themselves；　but　by　the　force　of　this　principle；　which　makes　it
impossible　for　money　to　lose　its　level；　and　either　to　rise　or　sink
beyond　the　proportion　of　the　labour　and　commodities　which　are　in　each
province？　Did　not　long　experience　make　people　easy　on　this　head；　what
a　fund　of　gloomy　reflections　might　calculations　afford　to　a　melancholy
YORKSHIREMAN；　while　he　computed　and　magnified　the　sums　drawn　to　LONDON
by　taxes；　absentees；　commodities；　and　found　on　comparison　the　opposite
articles　so　much　inferior？　And　no　doubt；　had　the　Heptarchy　subsisted
in　ENGLAND；　the　legislature　of　each　state　had　been　continually　alarmed
by　the　fear　of　a　wrong　balance；　and　as　it　is　probable　that　the　mutual
hatred　of　these　states　would　have　been　extremely　violent　on　account　of
their　close　neighbourhood；　they　would　have　loaded　and　oppressed　all
commerce；　by　a　jealous　and　superfluous　caution。　Since　the　union　has
removed　the　barriers　between　SCOTLAND　and　ENGLAND；　which　of　these
nations　gains　from　the　other　by　this　free　commerce？　Or　if　the　former
kingdom　has　received　any　encrease　of　riches；　can　it　reasonably