# The Wealth of Nations/Volume 2

THE WEALTH OF NATIONS
BY
ADAM SMITH, LL.D
PART TWO
NEW YORK
P. F. COLLIER & SON
MCMII
17
CONTENTS
VOLUME TWO
* BOOK II—CONTINUED Of the Nature, Accumulation, and Employment of Stock
* Chap. III.Of the Accumulation of Capital, or of productive and unproductive Labor ................................................................................................................................................................................................................................................................................................................................................................................................7
* IV.Of Stock lent at Interest ................................................................................................................................................................................................................................................................................................................................................................................................34
* V.Of the different Employment of Capitals ................................................................................................................................................................................................................................................................................................................................................................................................46
* BOOK III Of the different Progress of Opulence in different Nations
* Chap. I.Of the natural Progress of Opulence ................................................................................................................................................................................................................................................................................................................................................................................................68
* II.Of the Discouragement of Agriculture in the ancient State of Europe after the Fall of the Roman Empire ................................................................................................................................................................................................................................................................................................................................................................................................75
* III.Of the Rise and Progress of Cities and Towns, after the Fall of the Roman Empire ................................................................................................................................................................................................................................................................................................................................................................................................91
* IV.How the Commerce of the Towns contributed to the Improvement of the Country ................................................................................................................................................................................................................................................................................................................................................................................................106
* BOOK IV Of Systems of Political Economy
* Introduction ................................................................................................................................................................................................................................................................................................................................................................................................124
* Chap. I.Of the Principle of the Commercial, or Mercantile System ................................................................................................................................................................................................................................................................................................................................................................................................124
* II.Of Restraints upon the Importation from foreign Countries of such Goods as can be produced at Home ................................................................................................................................................................................................................................................................................................................................................................................................156
* III.Of the extraordinary Restraints upon the Importation of Goods of almost all Kinds, from those Countries with which the Balance is supposed to be disadvantageous ................................................................................................................................................................................................................................................................................................................................................................................................184
* Part I. Of the Unreasonableness of those Restraints even upon the Principles of the Commercial System ................................................................................................................................................................................................................................................................................................................................................................................................184
* Digression concerning Banks of Deposit, particularly concerning that of Amsterdam ................................................................................................................................................................................................................................................................................................................................................................................................192
* Part II. Of the Unreasonableness of those extraordinary Restraints upon other Principles ................................................................................................................................................................................................................................................................................................................................................................................................206
* IV.Of Drawbacks ................................................................................................................................................................................................................................................................................................................................................................................................220
* V.Of Bounties ................................................................................................................................................................................................................................................................................................................................................................................................227
* Digression concerning the Corn Trade and Corn Laws ................................................................................................................................................................................................................................................................................................................................................................................................252
* VI.Of Treaties of Commerce ................................................................................................................................................................................................................................................................................................................................................................................................280
* VII.Of Colonies ................................................................................................................................................................................................................................................................................................................................................................................................297
* Part I. Of the Motives for establishing new Colonies ................................................................................................................................................................................................................................................................................................................................................................................................297
* Part II. Causes of the Prosperity of new Colonies ................................................................................................................................................................................................................................................................................................................................................................................................309
* Part III. Of the Advantages which Europe has derived from the Discovery of America, and from that of a Passage to the East Indies by the Cape of Good Hope ................................................................................................................................................................................................................................................................................................................................................................................................345
* VIII.Conclusion of the Mercantile System ................................................................................................................................................................................................................................................................................................................................................................................................417
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