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국부론 Re:Read4th Season
THE WEALTH OF NATIONS · BOOK 1

제11장 토지의 지대

한국어 번역을 먼저 읽고, 각 문단 아래에서 애덤 스미스의 영문 원문을 펼쳐 확인할 수 있습니다.

전체 목차서론1장2장3장4장5장6장7장8장9장10장11장
WN-B01-C11-P001

한국어 번역

토지의 사용에 대해 지급되는 가격으로서의 지대는, 그 토지가 실제로 처한 사정에서 임차인이 감당할 수 있는 가장 높은 금액이 자연스럽다. 임대 조건을 정할 때 지주는 임차인에게, 종자를 마련하고 노동을 지급하며 가축과 그 밖의 농기구를 사고 유지하는 데 쓰는 자본을 보전하고, 그 지역 농업자본의 통상 이윤을 얻는 데 필요한 몫보다 더 많은 생산물을 남겨 주지 않으려 한다. 이는 임차인이 손해를 보지 않고 받아들일 수 있는 최소 몫임이 분명하며, 지주는 그보다 더 남겨 주려 하지 않는다. 생산물 가운데 이 몫을 넘는 부분, 또는 같은 말로 그 가격 가운데 이 몫을 넘는 부분은 지주가 자연스럽게 토지의 지대로 자기에게 유보하려는 부분이며, 이는 그 토지의 실제 사정에서 임차인이 지급할 수 있는 최고액이다. 물론 때로는 지주의 관대함, 더 흔하게는 무지 때문에 그보다 적게 받기도 하고, 드물게는 임차인의 무지 때문에 그보다 더 많이 지급하거나 그 지역 농업자본의 통상 이윤보다 적은 몫에 만족하기도 한다. 그러나 이 몫은 여전히 토지의 자연지대, 곧 토지가 대체로 자연스럽게 임대될 것으로 기대되는 지대로 볼 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Rent, considered as the price paid for the use of land, is naturally the highest which the tenant can afford to pay in the actual circumstances of the land. In adjusting the terms of the lease, the landlord endeavours to leave him no greater share of the produce than what is sufficient to keep up the stock from which he furnishes the seed, pays the labour, and purchases and maintains the cattle and other instruments of husbandry, together with the ordinary profits of farming stock in the neighbourhood. This is evidently the smallest share with which the tenant can content himself, without being a loser, and the landlord seldom means to leave him any more. Whatever part of the produce, or, what is the same thing, whatever part of its price, is over and above this share, he naturally endeavours to reserve to himself as the rent of his land, which is evidently the highest the tenant can afford to pay in the actual circumstances of the land. Sometimes, indeed, the liberality, more frequently the ignorance, of the landlord, makes him accept of somewhat less than this portion; and sometimes, too, though more rarely, the ignorance of the tenant makes him undertake to pay somewhat more, or to content himself with somewhat less, than the ordinary profits of farming stock in the neighbourhood. This portion, however, may still be considered as the natural rent of land, or the rent at which it is naturally meant that land should, for the most part, be let.

WN-B01-C11-P002

한국어 번역

토지의 지대는 흔히 지주가 토지를 개량하는 데 투입한 자본에 대한 합리적인 이윤이나 이자에 지나지 않는다고 생각할 수 있다. 어떤 경우에는 부분적으로 그럴 수 있지만, 그것이 전부인 경우는 거의 없다. 지주는 개량되지 않은 토지에도 지대를 요구하며, 개량비에 대한 것으로 여겨지는 이자나 이윤은 대개 이 원래 지대에 더해지는 부분이다. 게다가 개량은 언제나 지주의 자본으로 이루어지는 것이 아니라 때로는 임차인의 자본으로 이루어진다. 그러나 임대차를 갱신할 때가 되면 지주는 그 개량을 모두 자기 자본으로 한 것처럼 같은 폭의 지대 인상을 흔히 요구한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The rent of land, it may be thought, is frequently no more than a reasonable profit or interest for the stock laid out by the landlord upon its improvement. This, no doubt, may be partly the case upon some occasions; for it can scarce ever be more than partly the case. The landlord demands a rent even for unimproved land, and the supposed interest or profit upon the expense of improvement is generally an addition to this original rent. Those improvements, besides, are not always made by the stock of the landlord, but sometimes by that of the tenant. When the lease comes to be renewed, however, the landlord commonly demands the same augmentation of rent as if they had been all made by his own.

WN-B01-C11-P003

한국어 번역

지주는 때때로 인간의 개량이 전혀 불가능한 것에도 지대를 요구한다. 켈프는 태우면 유리·비누 제작과 그 밖의 여러 용도에 쓰이는 알칼리성 소금을 내는 해초의 한 종류다. 그것은 대브리튼 여러 지역, 특히 스코틀랜드에서 만조선 안쪽의 바위에만 자란다. 이 바위는 하루 두 번 바닷물에 잠기므로 그 생산량은 인간의 노동으로 늘어난 적이 없다. 그런데도 이런 켈프 해안과 맞닿은 영지를 가진 지주는 곡물밭과 마찬가지로 그 해안에도 지대를 요구한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

He sometimes demands rent for what is altogether incapable of human improvements. Kelp is a species of sea-weed, which, when burnt, yields an alkaline salt, useful for making glass, soap, and for several other purposes. It grows in several parts of Great Britain, particularly in Scotland, upon such rocks only as lie within the high-water mark, which are twice every day covered with the sea, and of which the produce, therefore, was never augmented by human industry. The landlord, however, whose estate is bounded by a kelp shore of this kind, demands a rent for it as much as for his corn-fields.

WN-B01-C11-P004

한국어 번역

셰틀랜드 제도 부근의 바다는 보통 이상으로 물고기가 풍부하며, 이는 주민 생계의 큰 부분을 이룬다. 그러나 바다의 생산물에서 이익을 얻으려면 인근 육지에 거처가 있어야 한다. 지주의 지대는 농부가 토지에서 얻을 수 있는 것에 비례하지 않고, 토지와 바다에서 함께 얻을 수 있는 것에 비례한다. 지대 일부는 바닷물고기로 지급되며, 지대가 그 상품 가격의 일부를 이루는 매우 드문 사례 가운데 하나가 그곳에서 발견된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The sea in the neighbourhood of the islands of Shetland is more than commonly abundant in fish, which makes a great part of the subsistence of their inhabitants. But, in order to profit by the produce of the water, they must have a habitation upon the neighbouring land. The rent of the landlord is in proportion, not to what the farmer can make by the land, but to what he can make both by the land and the water. It is partly paid in sea-fish; and one of the very few instances in which rent makes a part of the price of that commodity, is to be found in that country.

WN-B01-C11-P005

한국어 번역

그러므로 토지 사용에 대해 지급되는 가격으로서의 지대는 본래 독점가격이다. 그것은 지주가 토지 개량에 얼마를 지출했는지, 또는 얼마를 받아도 되는지에 전혀 비례하지 않고, 농부가 얼마를 지급할 수 있는지에 비례한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The rent of land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take, but to what the farmer can afford to give.

WN-B01-C11-P006

한국어 번역

토지 생산물 가운데 시장으로 가져올 수 있는 것은 일반적으로 그것을 시장에 내놓는 데 필요한 자본과 그 통상 이윤을 회수할 만큼의 통상가격을 얻을 수 있는 부분뿐이다. 통상가격이 그보다 높으면 잉여 부분은 자연스럽게 토지의 지대로 돌아간다. 높지 않으면 상품을 시장에 가져올 수는 있어도 지주에게 지대를 제공할 수는 없다. 가격이 그보다 높은지 아닌지는 수요에 달려 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Such parts only of the produce of land can commonly be brought to market, of which the ordinary price is sufficient to replace the stock which must be employed in bringing them thither, together with its ordinary profits. If the ordinary price is more than this, the surplus part of it will naturally go to the rent of the land. If it is not more, though the commodity may be brought to market, it can afford no rent to the landlord. Whether the price is, or is not more, depends upon the demand.

WN-B01-C11-P007

한국어 번역

토지 생산물 가운데에는 수요가 언제나 그것을 시장에 가져오는 데 필요한 비용보다 더 높은 가격을 보장하는 종류가 있고, 그런 높은 가격을 보장할 수도 있고 그렇지 않을 수도 있는 종류가 있다. 앞의 것은 언제나 지주에게 지대를 제공해야 한다. 뒤의 것은 사정에 따라 지대를 제공하기도 하고 제공하지 않기도 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

There are some parts of the produce of land, for which the demand must always be such as to afford a greater price than what is sufficient to bring them to market; and there are others for which it either may or may not be such as to afford this greater price. The former must always afford a rent to the landlord. The latter sometimes may and sometimes may not, according to different circumstances.

WN-B01-C11-P008

한국어 번역

따라서 지대는 임금과 이윤과는 다른 방식으로 상품가격의 구성에 들어간다는 점에 유의해야 한다. 높은 임금과 높은 이윤 또는 낮은 임금과 낮은 이윤은 높은 가격과 낮은 가격의 원인이다. 반면 높은 지대와 낮은 지대는 그 결과다. 특정 상품을 시장에 내놓기 위해 높은 또는 낮은 임금과 이윤을 지급해야 하므로 그 상품의 가격이 높거나 낮다. 그러나 그 가격이 그 임금과 이윤을 지급하는 데 필요한 수준보다 훨씬 더 높거나, 조금 더 높거나, 전혀 더 높지 않기 때문에 높은 지대나 낮은 지대를 제공하거나 지대를 전혀 제공하지 못한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Rent, it is to be observed, therefore, enters into the composition of the price of commodities in a different way from wages and profit. High or low wages and profit are the causes of high or low price; high or low rent is the effect of it. It is because high or low wages and profit must be paid, in order to bring a particular commodity to market, that its price is high or low. But it is because its price is high or low, a great deal more, or very little more, or no more, than what is sufficient to pay those wages and profit, that it affords a high rent, or a low rent, or no rent at all.

WN-B01-C11-P009

한국어 번역

첫째, 언제나 어느 정도의 지대를 제공하는 토지 생산물, 둘째, 때로는 지대를 제공하고 때로는 그렇지 않은 생산물, 셋째, 발전의 여러 단계에서 이 두 종류의 원생산물이 서로와 제조품에 비해 갖는 상대가치의 자연스러운 변화를 차례로 살펴보면 이 장은 세 부분으로 나뉜다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The particular consideration, first, of those parts of the produce of land which always afford some rent; secondly, of those which sometimes may and sometimes may not afford rent; and, thirdly, of the variations which, in the different periods of improvement, naturally take place in the relative value of those two different sorts of rude produce, when compared both with one another and with manufactured commodities, will divide this chapter into three parts.

WN-B01-C11-P010

한국어 번역

인간은 다른 모든 동물과 마찬가지로 생계수단에 비례해 자연스럽게 번식하므로, 식량은 언제나 어느 정도 수요가 있다. 식량은 언제나 더 많거나 적은 양의 노동을 구매하거나 지배할 수 있고, 그것을 얻기 위해 무언가 하려는 사람은 언제나 찾을 수 있다. 물론 식량이 구매할 수 있는 노동량은, 노동에 때때로 높은 임금이 지급되기 때문에 가장 절약적으로 관리했을 때 부양할 수 있는 노동량과 언제나 같지는 않다. 그러나 그 지역에서 그 종류의 노동이 보통 부양되는 비율에 따라, 식량은 자신이 부양할 수 있는 만큼의 노동을 언제나 구매할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As men, like all other animals, naturally multiply in proportion to the means of their subsistence, food is always more or less in demand. It can always purchase or command a greater or smaller quantity of labour, and somebody can always be found who is willing to do something in order to obtain it. The quantity of labour, indeed, which it can purchase, is not always equal to what it could maintain, if managed in the most economical manner, on account of the high wages which are sometimes given to labour; but it can always purchase such a quantity of labour as it can maintain, according to the rate at which that sort of labour is commonly maintained in the neighbourhood.

WN-B01-C11-P011

한국어 번역

그러나 거의 어떤 위치의 토지든 그 생산물을 시장에 가져오는 데 필요한 모든 노동을 가장 후하게 부양하고도 남을 만큼의 식량을 생산한다. 그 잉여는 그 노동을 고용한 자본과 그 이윤을 회수하고도 언제나 남는다. 그러므로 지주에게 지대로 돌아갈 무엇인가가 언제나 남는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But land, in almost any situation, produces a greater quantity of food than what is sufficient to maintain all the labour necessary for bringing it to market, in the most liberal way in which that labour is ever maintained. The surplus, too, is always more than sufficient to replace the stock which employed that labour, together with its profits. Something, therefore, always remains for a rent to the landlord.

WN-B01-C11-P012

한국어 번역

노르웨이와 스코틀랜드의 가장 황량한 황무지조차 가축을 위한 어느 정도의 풀을 생산한다. 그 가축의 젖과 번식분은 그것을 돌보는 데 필요한 모든 노동을 부양하고 가축 떼의 농장주나 소유자에게 통상 이윤을 지급할 뿐 아니라 지주에게 작은 지대까지 제공하기에 언제나 충분하다. 지대는 목초의 질에 비례해 늘어난다. 같은 면적의 땅이 더 많은 가축을 부양할 뿐 아니라, 가축이 더 좁은 범위에 모이므로 돌보고 생산물을 거두는 데 더 적은 노동이 필요해진다. 지주는 생산물의 증가와 그 생산물에서 부양해야 할 노동의 감소라는 두 방식으로 이익을 얻는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The most desert moors in Norway and Scotland produce some sort of pasture for cattle, of which the milk and the increase are always more than sufficient, not only to maintain all the labour necessary for tending them, and to pay the ordinary profit to the farmer or the owner of the herd or flock, but to afford some small rent to the landlord. The rent increases in proportion to the goodness of the pasture. The same extent of ground not only maintains a greater number of cattle, but as they are brought within a smaller compass, less labour becomes requisite to tend them, and to collect their produce. The landlord gains both ways; by the increase of the produce, and by the diminution of the labour which must be maintained out of it.

WN-B01-C11-P013

한국어 번역

토지의 지대는 생산물이 무엇이든 비옥도에 따라 달라질 뿐 아니라, 비옥도가 어떠하든 위치에 따라서도 달라진다. 도시 인근의 토지는 똑같이 비옥한 먼 지방의 토지보다 더 높은 지대를 낸다. 두 토지를 경작하는 데 드는 노동은 같을 수 있지만 먼 토지의 생산물을 시장에 가져오는 데에는 언제나 더 많은 비용이 든다. 그러므로 더 많은 노동을 그 생산물에서 부양해야 하고, 농부의 이윤과 지주의 지대가 함께 나오는 잉여는 줄어들 수밖에 없다. 게다가 이미 보았듯 먼 지방에서는 이윤율이 큰 도시 인근보다 일반적으로 더 높다. 따라서 줄어든 잉여 가운데 지주에게 돌아가는 비율은 더 작아야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The rent of land not only varies with its fertility, whatever be its produce, but with its situation, whatever be its fertility. Land in the neighbourhood of a town gives a greater rent than land equally fertile in a distant part of the country. Though it may cost no more labour to cultivate the one than the other, it must always cost more to bring the produce of the distant land to market. A greater quantity of labour, therefore, must be maintained out of it; and the surplus, from which are drawn both the profit of the farmer and the rent of the landlord, must be diminished. But in remote parts of the country, the rate of profit, as has already been shewn, is generally higher than in the neighbourhood of a large town. A smaller proportion of this diminished surplus, therefore, must belong to the landlord.

WN-B01-C11-P014

한국어 번역

좋은 도로·운하·항해 가능한 강은 운송비를 줄여 먼 지방을 도시 인근 지역과 거의 같은 조건에 놓이게 한다. 이 때문에 그것들은 모든 개량 가운데 가장 큰 개량이다. 국토에서 언제나 가장 넓은 범위를 차지하는 먼 지역의 경작을 장려하기 때문이다. 도시 인근 농촌의 독점을 무너뜨리므로 도시에도 유리하다. 심지어 그 인근 농촌에도 유리하다. 오래된 시장에 경쟁 상품을 들여오지만, 동시에 그 생산물을 위한 많은 새 시장을 열어 주기 때문이다. 더구나 독점은 좋은 경영의 큰 적이다. 좋은 경영은 자기방어를 위해 모든 사람이 그것을 택하게 만드는 자유롭고 보편적인 경쟁의 결과가 아니면 널리 정착할 수 없다. 50년도 되지 않아 런던 인근 몇몇 주는 유료도로를 더 먼 주까지 확장하는 것에 반대하는 청원을 의회에 냈다. 그들은 먼 주들이 노동비가 싸기 때문에 자기들보다 풀과 곡물을 런던 시장에서 더 싸게 팔 수 있고, 그 결과 자기들의 지대가 낮아지고 경작이 망할 것이라고 주장했다. 그러나 그 뒤 그들의 지대는 올랐고 경작도 개선되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Good roads, canals, and navigable rivers, by diminishing the expense of carriage, put the remote parts of the country more nearly upon a level with those in the neighbourhood of the town. They are upon that account the greatest of all improvements. They encourage the cultivation of the remote, which must always be the most extensive circle of the country. They are advantageous to the town by breaking down the monopoly of the country in its neighbourhood. They are advantageous even to that part of the country. Though they introduce some rival commodities into the old market, they open many new markets to its produce. Monopoly, besides, is a great enemy to good management, which can never be universally established, but in consequence of that free and universal competition which forces every body to have recourse to it for the sake of self defence. It is not more than fifty years ago, that some of the counties in the neighbourhood of London petitioned the parliament against the extension of the turnpike roads into the remoter counties. Those remoter counties, they pretended, from the cheapness of labour, would be able to sell their grass and corn cheaper in the London market than themselves, and would thereby reduce their rents, and ruin their cultivation. Their rents, however, have risen, and their cultivation has been improved since that time.

WN-B01-C11-P015

한국어 번역

중간 정도로 비옥한 곡물밭은 같은 면적의 가장 좋은 목초지보다 사람을 위한 훨씬 더 많은 식량을 생산한다. 경작에는 훨씬 더 많은 노동이 필요하지만, 종자를 보충하고 모든 노동을 부양한 뒤 남는 잉여도 훨씬 더 크다. 따라서 정육 한 파운드가 빵 한 파운드보다 더 가치 있다고 여겨진 적이 없다면, 이 더 큰 잉여는 어디에서나 더 큰 가치를 가지며 농부의 이윤과 지주의 지대를 위한 더 큰 기금을 이루었을 것이다. 실제로 농업의 초기 단계에는 어디에서나 그랬던 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

A corn field of moderate fertility produces a much greater quantity of food for man, than the best pasture of equal extent. Though its cultivation requires much more labour, yet the surplus which remains after replacing the seed and maintaining all that labour, is likewise much greater. If a pound of butcher’s meat, therefore, was never supposed to be worth more than a pound of bread, this greater surplus would everywhere be of greater value and constitute a greater fund, both for the profit of the farmer and the rent of the landlord. It seems to have done so universally in the rude beginnings of agriculture.

WN-B01-C11-P016

한국어 번역

그러나 빵과 정육이라는 두 종류 식량의 상대가치는 농업 발전의 단계에 따라 크게 달라진다. 초기 단계에는 아직 개량되지 않은 황야가 나라 대부분을 차지하고 모두 가축에게 맡겨진다. 정육은 빵보다 많고, 따라서 경쟁이 더 치열한 식량은 빵이며 그 결과 가격도 더 높다. 울로아의 기록에 따르면 40~50년 전 부에노스아이레스에서는 200~300마리의 소 떼에서 고른 소 한 마리의 통상가격이 4레알, 곧 영국 화폐 21펜스 반이었다. 그는 빵 가격에 대해서는 말하지 않는데, 아마 특별히 눈에 띄는 점이 없었기 때문일 것이다. 그곳에서 소 한 마리는 잡는 노동비보다 조금 더 들 뿐이라고 그는 말한다. 그러나 곡물은 어디에서도 많은 노동 없이 재배할 수 없다. 더구나 당시 유럽에서 포토시 은광으로 가는 직접 통로인 라플라타강 유역에서는 노동의 화폐가격이 매우 쌀 수 없었다. 반면 경작이 나라 대부분으로 확대되면 사정은 달라진다. 그때에는 정육보다 빵이 더 많아진다. 경쟁의 방향이 바뀌고 정육 가격이 빵 가격보다 높아진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But the relative values of those two different species of food, bread and butcher’s meat, are very different in the different periods of agriculture. In its rude beginnings, the unimproved wilds, which then occupy the far greater part of the country, are all abandoned to cattle. There is more butcher’s meat than bread; and bread, therefore, is the food for which there is the greatest competition, and which consequently brings the greatest price. At Buenos Ayres, we are told by Ulloa, four reals, one-and-twenty pence halfpenny sterling, was, forty or fifty years ago, the ordinary price of an ox, chosen from a herd of two or three hundred. He says nothing of the price of bread, probably because he found nothing remarkable about it. An ox there, he says, costs little more than the labour of catching him. But corn can nowhere be raised without a great deal of labour; and in a country which lies upon the river Plate, at that time the direct road from Europe to the silver mines of Potosi, the money-price of labour could be very cheap. It is otherwise when cultivation is extended over the greater part of the country. There is then more bread than butcher’s meat. The competition changes its direction, and the price of butcher’s meat becomes greater than the price of bread.

WN-B01-C11-P017

한국어 번역

또한 경작이 확대되면 개량되지 않은 황야만으로는 정육 수요를 충족할 수 없게 된다. 경작지의 상당 부분을 가축 사육과 비육에 사용해야 하므로, 가축 가격은 돌보는 데 필요한 노동뿐 아니라 그 토지를 경작에 사용했을 때 지주가 얻을 지대와 농부가 얻을 이윤까지 지급할 만큼 충분해야 한다. 가장 황량한 황무지에서 기른 가축도 같은 시장에 나오면 무게나 품질에 비례해 가장 잘 개량된 토지에서 기른 가축과 같은 가격에 팔린다. 그 황무지의 소유자는 이로써 이익을 얻고 가축 가격에 비례해 토지 지대를 올린다. 한 세기 전만 해도 스코틀랜드 고지대 여러 곳에서는 정육이 오트밀 빵만큼 싸거나 그보다 더 쌌다. 연합 이후 잉글랜드 시장이 고지대 가축에 열렸다. 현재 그 통상가격은 세기 초보다 약 세 배 높고, 같은 기간 많은 고지대 영지의 지대는 세 배나 네 배가 되었다. 오늘날 대브리튼 거의 모든 지역에서 가장 좋은 정육 한 파운드는 일반적으로 가장 좋은 흰빵 두 파운드보다 더 비싸고, 풍년에는 때때로 세 파운드나 네 파운드 값에 이른다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

By the extension, besides, of cultivation, the unimproved wilds become insufficient to supply the demand for butcher’s meat. A great part of the cultivated lands must be employed in rearing and fattening cattle; of which the price, therefore, must be sufficient to pay, not only the labour necessary for tending them, but the rent which the landlord, and the profit which the farmer, could have drawn from such land employed in tillage. The cattle bred upon the most uncultivated moors, when brought to the same market, are, in proportion to their weight or goodness, sold at the same price as those which are reared upon the most improved land. The proprietors of those moors profit by it, and raise the rent of their land in proportion to the price of their cattle. It is not more than a century ago, that in many parts of the Highlands of Scotland, butcher’s meat was as cheap or cheaper than even bread made of oatmeal. The Union opened the market of England to the Highland cattle. Their ordinary price, at present, is about three times greater than at the beginning of the century, and the rents of many Highland estates have been tripled and quadrupled in the same time. In almost every part of Great Britain, a pound of the best butcher’s meat is, in the present times, generally worth more than two pounds of the best white bread; and in plentiful years it is sometimes worth three or four pounds.

WN-B01-C11-P018

한국어 번역

이처럼 발전이 진행되면 개량되지 않은 목초지의 지대와 이윤은 어느 정도 개량된 토지의 지대와 이윤에 의해 조절되고, 다시 이것들은 곡물의 지대와 이윤에 의해 조절된다. 곡물은 1년 작물이지만 정육은 자라는 데 4~5년이 걸리는 작물이다. 따라서 토지 1에이커가 후자보다 전자의 식량을 훨씬 적게 생산하므로, 수량의 열세는 가격의 우세로 보상되어야 한다. 그보다 더 보상된다면 더 많은 곡물밭이 목초지로 바뀔 것이고, 충분히 보상되지 않는다면 목초지 일부가 다시 곡물밭으로 돌아갈 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is thus that, in the progress of improvement, the rent and profit of unimproved pasture come to be regulated in some measure by the rent and profit of what is improved, and these again by the rent and profit of corn. Corn is an annual crop; butcher’s meat, a crop which requires four or five years to grow. As an acre of land, therefore, will produce a much smaller quantity of the one species of food than of the other, the inferiority of the quantity must be compensated by the superiority of the price. If it was more than compensated, more corn-land would be turned into pasture; and if it was not compensated, part of what was in pasture would be brought back into corn.

WN-B01-C11-P019

한국어 번역

그러나 풀의 지대와 이윤, 곧 직접 생산물이 가축의 먹이인 토지의 지대와 이윤이 곡물의 지대와 이윤, 곧 직접 생산물이 사람의 먹이인 토지의 지대와 이윤과 같아진다는 것은 큰 나라의 개량된 토지 대부분에 대해서만 이해해야 한다. 어떤 특별한 지역 조건에서는 사정이 전혀 달라, 목초의 지대와 이윤이 곡물에서 얻을 수 있는 것보다 훨씬 높다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This equality, however, between the rent and profit of grass and those of corn; of the land of which the immediate produce is food for cattle, and of that of which the immediate produce is food for men, must be understood to take place only through the greater part of the improved lands of a great country. In some particular local situations it is quite otherwise, and the rent and profit of grass are much superior to what can be made by corn.

WN-B01-C11-P020

한국어 번역

예를 들어 큰 도시 인근에서는 우유와 말 사료에 대한 수요가 정육의 높은 가격과 결합하여 풀의 가치를 곡물에 대한 자연스러운 비율보다 높이는 경우가 많다. 이 지역적 이점은 먼 토지로 옮겨 갈 수 없다는 점이 분명하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thus, in the neighbourhood of a great town, the demand for milk, and for forage to horses, frequently contribute, together with the high price of butcher’s meat, to raise the value of grass above what may be called its natural proportion to that of corn. This local advantage, it is evident, cannot be communicated to the lands at a distance.

WN-B01-C11-P021

한국어 번역

특별한 사정 때문에 어떤 나라들은 인구가 너무 많아져, 큰 도시 인근의 토지처럼 그 나라 전체 영토만으로 주민 생계에 필요한 풀과 곡물을 모두 생산할 수 없는 경우가 있었다. 그래서 그들의 토지는 주로 부피가 커 먼 곳에서 쉽게 가져올 수 없는 풀을 생산하는 데 쓰였고, 대다수 국민의 식량인 곡물은 주로 외국에서 수입되었다. 오늘날 네덜란드가 이런 상태이며, 고대 이탈리아의 상당 부분도 로마가 번영하던 시기에 그랬던 듯하다. 키케로의 전언에 따르면 늙은 카토는 사유지를 경영할 때 가축을 잘 먹이는 것이 첫째이자 가장 수익성 있는 일이고, 적당히 먹이는 것이 둘째, 형편없이 먹이는 것이 셋째라고 말했다. 그는 경작을 이익과 유리함에서 넷째로 놓았다. 실제로 로마 인근의 고대 이탈리아에서는 사람들에게 곡물을 무료 또는 매우 싼 가격으로 자주 나누어 주었기 때문에 경작이 크게 위축되었을 것이다. 이 곡물은 정복한 속주에서 가져왔고, 그중 여러 속주는 세금 대신 생산물의 10분의 1을 정해진 가격, 곧 한 펙에 약 6펜스로 공화국에 공급해야 했다. 이 곡물이 사람들에게 낮은 가격으로 분배되면서 라티움, 곧 고대 로마 영토에서 로마 시장으로 가져올 수 있는 곡물 가격은 필연적으로 낮아졌고 그 지역의 경작을 위축시켰을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Particular circumstances have sometimes rendered some countries so populous, that the whole territory, like the lands in the neighbourhood of a great town, has not been sufficient to produce both the grass and the corn necessary for the subsistence of their inhabitants. Their lands, therefore, have been principally employed in the production of grass, the more bulky commodity, and which cannot be so easily brought from a great distance; and corn, the food of the great body of the people, has been chiefly imported from foreign countries. Holland is at present in this situation; and a considerable part of ancient Italy seems to have been so during the prosperity of the Romans. To feed well, old Cato said, as we are told by Cicero, was the first and most profitable thing in the management of a private estate; to feed tolerably well, the second; and to feed ill, the third. To plough, he ranked only in the fourth place of profit and advantage. Tillage, indeed, in that part of ancient Italy which lay in the neighbour hood of Rome, must have been very much discouraged by the distributions of corn which were frequently made to the people, either gratuitously, or at a very low price. This corn was brought from the conquered provinces, of which several, instead of taxes, were obliged to furnish a tenth part of their produce at a stated price, about sixpence a-peck, to the republic. The low price at which this corn was distributed to the people, must necessarily have sunk the price of what could be brought to the Roman market from Latium, or the ancient territory of Rome, and must have discouraged its cultivation in that country.

WN-B01-C11-P022

한국어 번역

주된 생산물이 곡물인 탁 트인 지역에서도 울타리로 잘 둘러싸인 목초지 한 구획은 인근 어떤 곡물밭보다 더 높은 지대를 내는 경우가 많다. 그것은 곡물 경작에 쓰이는 가축을 부양하는 데 편리하며, 이 경우 높은 지대는 그 토지 자체 생산물의 가치에서라기보다 그것을 이용해 경작하는 곡물밭의 가치에서 지급된다고 보는 편이 더 정확하다. 인근 토지가 모두 완전히 울타리로 둘러싸이면 그 지대는 낮아질 가능성이 크다. 오늘날 스코틀랜드에서 울타리 친 토지의 높은 지대는 울타리의 희소성 때문인 듯하며, 그 희소성이 사라지는 동안까지만 지속될 것이다. 울타리의 이점은 곡물보다 목초에 더 크다. 가축을 지키는 노동을 절약하고, 목동이나 개에게 방해받지 않을 때 가축이 더 잘 먹기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In an open country, too, of which the principal produce is corn, a well-inclosed piece of grass will frequently rent higher than any corn field in its neighbourhood. It is convenient for the maintenance of the cattle employed in the cultivation of the corn; and its high rent is, in this case, not so properly paid from the value of its own produce, as from that of the corn lands which are cultivated by means of it. It is likely to fall, if ever the neighbouring lands are completely inclosed. The present high rent of inclosed land in Scotland seems owing to the scarcity of inclosure, and will probably last no longer than that scarcity. The advantage of inclosure is greater for pasture than for corn. It saves the labour of guarding the cattle, which feed better, too, when they are not liable to be disturbed by their keeper or his dog.

WN-B01-C11-P023

한국어 번역

그러나 이런 지역적 이점이 없는 곳에서는, 곡물 또는 국민의 통상적인 식물성 식량이 그 생산에 적합한 토지에서 목초의 지대와 이윤을 자연스럽게 조절해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But where there is no local advantage of this kind, the rent and profit of corn, or whatever else is the common vegetable food of the people, must naturally regulate upon the land which is fit for producing it, the rent and profit of pasture.

WN-B01-C11-P024

한국어 번역

인공 목초, 순무·당근·양배추와 그 밖의 방법을 이용하여 같은 면적의 토지가 자연 목초일 때보다 더 많은 가축을 먹일 수 있게 되면, 발전한 나라에서 정육 가격이 빵 가격보다 자연스럽게 가지는 우위를 어느 정도 줄일 것으로 기대할 수 있다. 실제로 그런 효과가 있었던 듯하며, 적어도 런던 시장에서는 빵 가격에 비한 정육 가격이 지난 세기 초보다 오늘날 상당히 낮다는 점을 믿을 만한 이유가 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The use of the artificial grasses, of turnips, carrots, cabbages, and the other expedients which have been fallen upon to make an equal quantity of land feed a greater number of cattle than when in natural grass, should somewhat reduce, it might be expected, the superiority which, in an improved country, the price of butcher’s meat naturally has over that of bread. It seems accordingly to have done so; and there is some reason for believing that, at least in the London market, the price of butcher’s meat, in proportion to the price of bread, is a good deal lower in the present times than it was in the beginning of the last century.

WN-B01-C11-P025

한국어 번역

버치 박사는 헨리 왕자의 생애 부록에서 그 왕자가 통상 지급한 정육 가격을 기록했다. 그 기록에 따르면 무게 600파운드인 소 한 마리의 네 토막은 보통 9파운드 10실링 정도였으며, 이는 100파운드당 31실링 8펜스다. 헨리 왕자는 1612년 11월 6일, 열아홉 살에 사망했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the Appendix to the life of Prince Henry, Doctor Birch has given us an account of the prices of butcher’s meat as commonly paid by that prince. It is there said, that the four quarters of an ox, weighing six hundred pounds, usually cost him nine pounds ten shillings, or thereabouts; that is thirty-one shillings and eight-pence per hundred pounds weight. Prince Henry died on the 6th of November 1612, in the nineteenth year of his age.

WN-B01-C11-P026

한국어 번역

1764년 3월에는 당시 식료품 가격이 높았던 원인을 조사하는 의회 조사가 있었다. 같은 취지의 다른 증거들과 함께 버지니아 상인은 1763년 3월 배에 쇠고기를 실을 때 100파운드당 24~25실링을 지급했으며 그것을 통상가격으로 여겼다고 증언했다. 그러나 물가가 비쌌던 그해에는 같은 무게와 품질에 27실링을 지급했다. 그럼에도 1764년의 이 높은 가격은 헨리 왕자가 통상 지급한 가격보다 4실링 8펜스 더 쌌다. 또 먼 항해를 위해 소금에 절일 수 있는 것은 가장 좋은 쇠고기뿐이라는 점도 주목해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In March 1764, there was a parliamentary inquiry into the causes of the high price of provisions at that time. It was then, among other proof to the same purpose, given in evidence by a Virginia merchant, that in March 1763, he had victualled his ships for twentyfour or twenty-five shillings the hundred weight of beef, which he considered as the ordinary price; whereas, in that dear year, he had paid twenty-seven shillings for the same weight and sort. This high price in 1764 is, however, four shillings and eight-pence cheaper than the ordinary price paid by Prince Henry; and it is the best beef only, it must be observed, which is fit to be salted for those distant voyages.

WN-B01-C11-P027

한국어 번역

헨리 왕자가 지급한 가격은 거친 부위와 좋은 부위를 모두 포함한 도체 전체 1파운드당 3펜스와 5분의 4펜스에 해당한다. 이 가격이라면 좋은 부위는 소매에서 1파운드당 4펜스 반이나 5펜스보다 싸게 팔릴 수 없었을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price paid by Prince Henry amounts to 3d. 4/5ths per pound weight of the whole carcase, coarse and choice pieces taken together; and at that rate the choice pieces could not have been sold by retail for less than 4½d. or 5d. the pound.

WN-B01-C11-P028

한국어 번역

1764년 의회 조사에서 증인들은 가장 좋은 쇠고기의 좋은 부위가 소비자에게 1파운드당 4펜스 또는 4펜스 반, 거친 부위는 대체로 1과 4분의 3펜스에서 2펜스 반 또는 2와 4분의 3펜스였다고 진술했다. 그리고 이것도 같은 종류의 부위가 보통 3월에 팔리던 가격보다 대체로 0.5펜스 비쌌다고 했다. 그러나 이 높은 가격조차 헨리 왕자 시대의 통상 소매가격으로 합리적으로 추정할 수 있는 수준보다 여전히 상당히 싸다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the parliamentary inquiry in 1764, the witnesses stated the price of the choice pieces of the best beef to be to the consumer 4d. and 4½d. the pound; and the coarse pieces in general to be from seven farthings to 2½d. and 2¾d.; and this, they said, was in general one halfpenny dearer than the same sort of pieces had usually been sold in the month of March. But even this high price is still a good deal cheaper than what we can well suppose the ordinary retail price to have been in the time of Prince Henry.

WN-B01-C11-P029

한국어 번역

지난 세기 첫 12년 동안 윈저 시장에서 가장 좋은 밀의 평균가격은 윈체스터 9부셸 한 쿼터당 1파운드 18실링 3펜스 반이었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

During the first twelve years of the last century, the average price of the best wheat at the Windsor market was £ 1:18:3½d. the quarter of nine Winchester bushels.

WN-B01-C11-P030

한국어 번역

반면 1764년을 포함한 그 이전 12년 동안 같은 시장의 같은 양의 가장 좋은 밀 평균가격은 2파운드 1실링 9펜스 반이었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But in the twelve years preceding 1764 including that year, the average price of the same measure of the best wheat at the same market was £ 2:1:9½d.

WN-B01-C11-P031

한국어 번역

따라서 지난 세기 첫 12년 동안에는 빵에 비한 정육 가격이, 1764년 이전 12년 동안보다 훨씬 높았던 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the first twelve years of the last century, therefore, wheat appears to have been a good deal cheaper, and butcher’s meat a good deal dearer, than in the twelve years preceding 1764, including that year.

WN-B01-C11-P032

한국어 번역

두 기간 모두에서 곡물 가격은 1년마다 크게 달라졌지만 정육 가격은 훨씬 덜 변동했다. 그러므로 이 비교가 완전히 정확하지는 않더라도 일반적인 경향을 보여 주기에는 충분하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In all great countries, the greater part of the cultivated lands are employed in producing either food for men or food for cattle. The rent and profit of these regulate the rent and profit of all other cultivated land. If any particular produce afforded less, the land would soon be turned into corn or pasture; and if any afforded more, some part of the lands in corn or pasture would soon be turned to that produce.

WN-B01-C11-P033

한국어 번역

이와 같은 비교는 인공 사료와 개량된 목초가 정육 생산을 늘려, 곡물에 비한 정육의 상대가격을 낮추는 데 상당히 기여했음을 보여 주는 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Those productions, indeed, which require either a greater original expense of improvement, or a greater annual expense of cultivation in order to fit the land for them, appear commonly to afford, the one a greater rent, the other a greater profit, than corn or pasture. This superiority, however, will seldom be found to amount to more than a reasonable interest or compensation for this superior expense.

WN-B01-C11-P034

한국어 번역

그러나 정육의 가격 하락이 토지의 지대와 이윤을 낮추었다고 생각해서는 안 된다. 같은 토지에서 더 많은 가축을 먹일 수 있게 되면 생산량 증가가 가격 하락을 충분히 보상하고도 남을 수 있기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In a hop garden, a fruit garden, a kitchen garden, both the rent of the landlord, and the profit of the farmer, are generally greater than in acorn or grass field. But to bring the ground into this condition requires more expense. Hence a greater rent becomes due to the landlord. It requires, too, a more attentive and skilful management. Hence a greater profit becomes due to the farmer. The crop, too, at least in the hop and fruit garden, is more precarious. Its price, therefore, besides compensating all occasional losses, must afford something like the profit of insurance. The circumstances of gardeners, generally mean, and always moderate, may satisfy us that their great ingenuity is not commonly over-recompensed. Their delightful art is practised by so many rich people for amusement, that little advantage is to be made by those who practise it for profit; because the persons who should naturally be their best customers, supply themselves with all their most precious productions.

WN-B01-C11-P035

한국어 번역

개량된 목초와 사료 작물은 가축을 더 많이 기르게 할 뿐 아니라, 더 빨리 비육하고 더 좋은 품질로 시장에 내놓게 한다. 따라서 같은 면적의 토지가 제공하는 가치 전체는 오히려 증가할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The advantage which the landlord derives from such improvements, seems at no time to have been greater than what was sufficient to compensate the original expense of making them. In the ancient husbandry, after the vineyard, a well-watered kitchen garden seems to have been the part of the farm which was supposed to yield the most valuable produce. But Democritus, who wrote upon husbandry about two thousand years ago, and who was regarded by the ancients as one of the fathers of the art, thought they did not act wisely who inclosed a kitchen garden. The profit, he said, would not compensate the expense of a stone-wall: and bricks (he meant, I suppose, bricks baked in the sun) mouldered with the rain and the winter-storm, and required continual repairs. Columella, who reports this judgment of Democritus, does not controvert it, but proposes a very frugal method of inclosing with a hedge of brambles and briars, which he says he had found by experience to be both a lasting and an impenetrable fence; but which, it seems, was not commonly known in the time of Democritus. Palladius adopts the opinion of Columella, which had before been recommended by Varro. In the judgment of those ancient improvers, the produce of a kitchen garden had, it seems, been little more than sufficient to pay the extraordinary culture and the expense of watering; for in countries so near the sun, it was thought proper, in those times as in the present, to have the command of a stream of water, which could be conducted to every bed in the garden. Through the greater part of Europe, a kitchen garden is not at present supposed to deserve a better inclosure than that recommended by Columella. In Great Britain, and some other northern countries, the finer fruits cannot be brought to perfection but by the assistance of a wall. Their price, therefore, in such countries, must be sufficient to pay the expense of building and maintaining what they cannot be had without. The fruit-wall frequently surrounds the kitchen garden, which thus enjoys the benefit of an inclosure which its own produce could seldom pay for.

WN-B01-C11-P036

한국어 번역

곡물 생산에 적합한 토지에서 목초의 지대와 이윤은 곡물의 지대와 이윤에 의해 조절되지만, 특별한 자연조건이나 수요가 있는 곳에서는 목초가 더 높은 수익을 낼 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

That the vineyard, when properly planted and brought to perfection, was the most valuable part of the farm, seems to have been an undoubted maxim in the ancient agriculture, as it is in the modern, through all the wine countries. But whether it was advantageous to plant a new vineyard, was a matter of dispute among the ancient Italian husbandmen, as we learn from Columella. He decides, like a true lover of all curious cultivation, in favour of the vineyard; and endeavours to shew, by a comparison of the profit and expense, that it was a most advantageous improvement. Such comparisons, however, between the profit and expense of new projects are commonly very fallacious; and in nothing more so than in agriculture. Had the gain actually made by such plantations been commonly as great as he imagined it might have been, there could have been no dispute about it. The same point is frequently at this day a matter of controversy in the wine countries. Their writers on agriculture, indeed, the lovers and promoters of high cultivation, seem generally disposed to decide with Columella in favour of the vineyard. In France, the anxiety of the proprietors of the old vineyards to prevent the planting of any new ones, seems to favour their opinion, and to indicate a consciousness in those who must have the experience, that this species of cultivation is at present in that country more profitable than any other. It seems, at the same time, however, to indicate another opinion, that this superior profit can last no longer than the laws which at present restrain the free cultivation of the vine. In 1731, they obtained an order of council, prohibiting both the planting of new vineyards, and the renewal of these old ones, of which the cultivation had been interrupted for two years, without a particular permission from the king, to be granted only in consequence of an information from the intendant of the province, certifying that he had examined the land, and that it was incapable of any other culture. The pretence of this order was the scarcity of corn and pasture, and the superabundance of wine. But had this superabundance been real, it would, without any order of council, have effectually prevented the plantation of new vineyards, by reducing the profits of this species of cultivation below their natural proportion to those of corn and pasture. With regard to the supposed scarcity of corn occasioned by the multiplication of vineyards, corn is nowhere in France more carefully cultivated than in the wine provinces, where the land is fit for producing it: as in Burgundy, Guienne, and the Upper Languedoc. The numerous hands employed in the one species of cultivation necessarily encourage the other, by affording a ready market for its produce. To diminish the number of those who are capable of paying it, is surely a most unpromising expedient for encouraging the cultivation of corn. It is like the policy which would promote agriculture, by discouraging manufactures.

WN-B01-C11-P037

한국어 번역

포도밭의 지대와 이윤도 곡물밭의 그것과 같은 방식으로 설명할 수 있다. 같은 면적의 토지에서 생산되는 포도주의 양과 품질, 그리고 그에 대한 수요가 그것들을 결정한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The rent and profit of those productions, therefore, which require either a greater original expense of improvement in order to fit the land for them, or a greater annual expense of cultivation, though often much superior to those of corn and pasture, yet when they do no more than compensate such extraordinary expense, are in reality regulated by the rent and profit of those common crops.

WN-B01-C11-P038

한국어 번역

보통 수준의 포도주를 생산하는 토지는 곡물이나 목초보다 특별히 높은 지대를 내지 않을 수 있다. 그러나 매우 뛰어난 품질의 포도주를 생산하는 소수 지역은 독점적인 수요를 누려 훨씬 높은 지대를 낸다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It sometimes happens, indeed, that the quantity of land which can be fitted for some particular produce, is too small to supply the effectual demand. The whole produce can be disposed of to those who are willing to give somewhat more than what is sufficient to pay the whole rent, wages, and profit, necessary for raising and bringing it to market, according to their natural rates, or according to the rates at which they are paid in the greater part of other cultivated land. The surplus part of the price which remains after defraying the whole expense of improvement and cultivation, may commonly, in this case, and in this case only, bear no regular proportion to the like surplus in corn or pasture, but may exceed it in almost any degree; and the greater part of this excess naturally goes to the rent of the landlord.

WN-B01-C11-P039

한국어 번역

이러한 고급 포도주의 높은 가격은 그것을 생산하는 데 필요한 노동과 자본의 비용만으로 설명되지 않는다. 그 가격의 상당 부분은 특정 토양과 기후가 주는 희소한 품질에서 나오며, 그 부분이 지대가 된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The usual and natural proportion, for example, between the rent and profit of wine, and those of corn and pasture, must be understood to take place only with regard to those vineyards which produce nothing but good common wine, such as can be raised almost anywhere, upon any light, gravelly, or sandy soil, and which has nothing to recommend it but its strength and wholesomeness. It is with such vineyards only, that the common land of the country can be brought into competition; for with those of a peculiar quality it is evident that it cannot.

WN-B01-C11-P040

한국어 번역

프랑스의 몇몇 유명 포도밭처럼 일정한 지역에서만 특별한 맛과 향을 내는 경우, 그 토지의 소유자는 사실상 자연적 독점을 가진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The vine is more affected by the difference of soils than any other fruit-tree. From some it derives a flavour which no culture or management can equal, it is supposed, upon any other. This flavour, real or imaginary, is sometimes peculiar to the produce of a few vineyards; sometimes it extends through the greater part of a small district, and sometimes through a considerable part of a large province. The whole quantity of such wines that is brought to market falls short of the effectual demand, or the demand of those who would be willing to pay the whole rent, profit, and wages, necessary for preparing and bringing them thither, according to the ordinary rate, or according to the rate at which they are paid in common vineyards. The whole quantity, therefore, can be disposed of to those who are willing to pay more, which necessarily raises their price above that of common wine. The difference is greater or less, according as the fashionableness and scarcity of the wine render the competition of the buyers more or less eager. Whatever it be, the greater part of it goes to the rent of the landlord. For though such vineyards are in general more carefully cultivated than most others, the high price of the wine seems to be, not so much the effect, as the cause of this careful cultivation. In so valuable a produce, the loss occasioned by negligence is so great, as to force even the most careless to attention. A small part of this high price, therefore, is sufficient to pay the wages of the extraordinary labour bestowed upon their cultivation, and the profits of the extraordinary stock which puts that labour into motion.

WN-B01-C11-P041

한국어 번역

이런 토지의 생산량은 수요에 맞추어 마음대로 늘릴 수 없으므로, 가격은 생산비보다 훨씬 높게 유지될 수 있고 그 차액은 지주에게 돌아간다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The sugar colonies possessed by the European nations in the West Indies may be compared to those precious vineyards. Their whole produce falls short of the effectual demand of Europe, and can be disposed of to those who are willing to give more than what is sufficient to pay the whole rent, profit, and wages, necessary for preparing and bringing it to market, according to the rate at which they are commonly paid by any other produce. In Cochin China, the finest white sugar generally sells for three piastres the quintal, about thirteen shillings and sixpence of our money, as we are told by Mr Poivre {Voyages d’un Philosophe.}, a very careful observer of the agriculture of that country. What is there called the quintal, weighs from a hundred and fifty to two hundred Paris pounds, or a hundred and seventy-five Paris pounds at a medium, which reduces the price of the hundred weight English to about eight shillings sterling; not a fourth part of what is commonly paid for the brown or muscovada sugars imported from our colonies, and not a sixth part of what is paid for the finest white sugar. The greater part of the cultivated lands in Cochin China are employed in producing corn and rice, the food of the great body of the people. The respective prices of corn, rice, and sugar, are there probably in the natural proportion, or in that which naturally takes place in the different crops of the greater part of cultivated land, and which recompenses the landlord and farmer, as nearly as can be computed, according to what is usually the original expense of improvement, and the annual expense of cultivation. But in our sugar colonies, the price of sugar bears no such proportion to that of the produce of a rice or corn field either in Europe or America. It is commonly said that a sugar planter expects that the rum and the molasses should defray the whole expense of his cultivation, and that his sugar should be all clear profit. If this be true, for I pretend not to affirm it, it is as if a corn farmer expected to defray the expense of his cultivation with the chaff and the straw, and that the grain should be all clear profit. We see frequently societies of merchants in London, and other trading towns, purchase waste lands in our sugar colonies, which they expect to improve and cultivate with profit, by means of factors and agents, notwithstanding the great distance and the uncertain returns, from the defective administration of justice in those countries. Nobody will attempt to improve and cultivate in the same manner the most fertile lands of Scotland, Ireland, or the corn provinces of North America, though, from the more exact administration of justice in these countries, more regular returns might be expected.

WN-B01-C11-P042

한국어 번역

반대로 품질 차이가 크지 않고 다른 지역에서 쉽게 대체할 수 있는 포도주는 경쟁 때문에 가격이 생산비와 보통 이윤에 가까워진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In Virginia and Maryland, the cultivation of tobacco is preferred, as most profitable, to that of corn. Tobacco might be cultivated with advantage through the greater part of Europe; but, in almost every part of Europe, it has become a principal subject of taxation; and to collect a tax from every different farm in the country where this plant might happen to be cultivated, would be more difficult, it has been supposed, than to levy one upon its importation at the custom-house. The cultivation of tobacco has, upon this account, been most absurdly prohibited through the greater part of Europe, which necessarily gives a sort of monopoly to the countries where it is allowed; and as Virginia and Maryland produce the greatest quantity of it, they share largely, though with some competitors, in the advantage of this monopoly. The cultivation of tobacco, however, seems not to be so advantageous as that of sugar. I have never even heard of any tobacco plantation that was improved and cultivated by the capital of merchants who resided in Great Britain; and our tobacco colonies send us home no such wealthy planters as we see frequently arrive from our sugar islands. Though, from the preference given in those colonies to the cultivation of tobacco above that of corn, it would appear that the effectual demand of Europe for tobacco is not completely supplied, it probably is more nearly so than that for sugar; and though the present price of tobacco is probably more than sufficient to pay the whole rent, wages, and profit, necessary for preparing and bringing it to market, according to the rate at which they are commonly paid in corn land, it must not be so much more as the present price of sugar. Our tobacco planters, accordingly, have shewn the same fear of the superabundance of tobacco, which the proprietors of the old vineyards in France have of the superabundance of wine. By act of assembly, they have restrained its cultivation to six thousand plants, supposed to yield a thousand weight of tobacco, for every negro between sixteen and sixty years of age. Such a negro, over and above this quantity of tobacco, can manage, they reckon, four acres of Indian corn. To prevent the market from being overstocked, too, they have sometimes, in plentiful years, we are told by Dr Douglas {Douglas’s Summary, vol. ii. p. 379, 373.} (I suspect he has been ill informed), burnt a certain quantity of tobacco for every negro, in the same manner as the Dutch are said to do of spices. If such violent methods are necessary to keep up the present price of tobacco, the superior advantage of its culture over that of corn, if it still has any, will not probably be of long continuance.

WN-B01-C11-P043

한국어 번역

설탕·담배 같은 작물도 비옥한 토지와 적합한 기후가 제한되어 있을 때 높은 지대를 낼 수 있다. 그러나 그 높은 지대는 수요와 재배 가능 지역의 희소성에 달려 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is in this manner that the rent of the cultivated land, of which the produce is human food, regulates the rent of the greater part of other cultivated land. No particular produce can long afford less, because the land would immediately be turned to another use; and if any particular produce commonly affords more, it is because the quantity of land which can be fitted for it is too small to supply the effectual demand.

WN-B01-C11-P044

한국어 번역

서인도 제도의 설탕 농장은 유럽의 보통 곡물밭보다 훨씬 큰 수익을 내는 경우가 많다. 이는 설탕 수요가 크고, 적합한 기후가 제한되어 있으며, 생산물이 먼 시장에서도 높은 가격을 얻기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In Europe, corn is the principal produce of land, which serves immediately for human food. Except in particular situations, therefore, the rent of corn land regulates in Europe that of all other cultivated land. Britain need envy neither the vineyards of France, nor the olive plantations of Italy. Except in particular situations, the value of these is regulated by that of corn, in which the fertility of Britain is not much inferior to that of either of those two countries.

WN-B01-C11-P045

한국어 번역

담배 농장도 한때 비슷한 이익을 제공했지만, 재배 지역이 확대되고 공급이 늘면 그 특별한 수익은 자연스럽게 줄어든다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

If, in any country, the common and favourite vegetable food of the people should be drawn from a plant of which the most common land, with the same, or nearly the same culture, produced a much greater quantity than the most fertile does of corn; the rent of the landlord, or the surplus quantity of food which would remain to him, after paying the labour, and replacing the stock of the farmer, together with its ordinary profits, would necessarily be much greater. Whatever was the rate at which labour was commonly maintained in that country, this greater surplus could always maintain a greater quantity of it, and, consequently, enable the landlord to purchase or command a greater quantity of it. The real value of his rent, his real power and authority, his command of the necessaries and conveniencies of life with which the labour of other people could supply him, would necessarily be much greater.

WN-B01-C11-P046

한국어 번역

이처럼 어떤 토지 생산물은 인간의 식량에 직접 쓰이지 않더라도, 강한 수요와 제한된 공급 때문에 언제나 지대를 제공할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

A rice field produces a much greater quantity of food than the most fertile corn field. Two crops in the year, from thirty to sixty bushels each, are said to be the ordinary produce of an acre. Though its cultivation, therefore, requires more labour, a much greater surplus remains after maintaining all that labour. In those rice countries, therefore, where rice is the common and favourite vegetable food of the people, and where the cultivators are chiefly maintained with it, a greater share of this greater surplus should belong to the landlord than in corn countries. In Carolina, where the planters, as in other British colonies, are generally both farmers and landlords, and where rent, consequently, is confounded with profit, the cultivation of rice is found to be more profitable than that of corn, though their fields produce only one crop in the year, and though, from the prevalence of the customs of Europe, rice is not there the common and favourite vegetable food of the people.

WN-B01-C11-P047

한국어 번역

그러나 식량은 인간의 번식과 생존에 직접 연결되므로, 장기적으로 토지 지대의 가장 보편적이고 확실한 원천이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

A good rice field is a bog at all seasons, and at one season a bog covered with water. It is unfit either for corn, or pasture, or vineyard, or, indeed, for any other vegetable produce that is very useful to men; and the lands which are fit for those purposes are not fit for rice. Even in the rice countries, therefore, the rent of rice lands cannot regulate the rent of the other cultivated land which can never be turned to that produce.

WN-B01-C11-P048

한국어 번역

식량 생산을 넘어서는 토지의 다른 생산물은 사회의 발전 정도와 수요의 크기에 따라 지대를 제공하기도 하고 그렇지 않기도 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The food produced by a field of potatoes is not inferior in quantity to that produced by a field of rice, and much superior to what is produced by a field of wheat. Twelve thousand weight of potatoes from an acre of land is not a greater produce than two thousand weight of wheat. The food or solid nourishment, indeed, which can be drawn from each of those two plants, is not altogether in proportion to their weight, on account of the watery nature of potatoes. Allowing, however, half the weight of this root to go to water, a very large allowance, such an acre of potatoes will still produce six thousand weight of solid nourishment, three times the quantity produced by the acre of wheat. An acre of potatoes is cultivated with less expense than an acre of wheat; the fallow, which generally precedes the sowing of wheat, more than compensating the hoeing and other extraordinary culture which is always given to potatoes. Should this root ever become in any part of Europe, like rice in some rice countries, the common and favourite vegetable food of the people, so as to occupy the same proportion of the lands in tillage, which wheat and other sorts of grain for human food do at present, the same quantity of cultivated land would maintain a much greater number of people; and the labourers being generally fed with potatoes, a greater surplus would remain after replacing all the stock, and maintaining all the labour employed in cultivation. A greater share of this surplus, too, would belong to the landlord. Population would increase, and rents would rise much beyond what they are at present.

WN-B01-C11-P049

한국어 번역

의복 재료가 그 한 예다. 미개한 사회에서는 가죽과 모피가 풍부하여 식량 생산의 부산물로 거의 비용 없이 얻어질 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The land which is fit for potatoes, is fit for almost every other useful vegetable. If they occupied the same proportion of cultivated land which corn does at present, they would regulate, in the same manner, the rent of the greater part of other cultivated land.

WN-B01-C11-P050

한국어 번역

그 상태에서는 가죽과 모피의 가격이 매우 낮아 지대를 거의 제공하지 못할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In some parts of Lancashire, it is pretended, I have been told, that bread of oatmeal is a heartier food for labouring people than wheaten bread, and I have frequently heard the same doctrine held in Scotland. I am, however, somewhat doubtful of the truth of it. The common people in Scotland, who are fed with oatmeal, are in general neither so strong nor so handsome as the same rank of people in England, who are fed with wheaten bread. They neither work so well, nor look so well; and as there is not the same difference between the people of fashion in the two countries, experience would seem to shew, that the food of the common people in Scotland is not so suitable to the human constitution as that of their neighbours of the same rank in England. But it seems to be otherwise with potatoes. The chairmen, porters, and coal-heavers in London, and those unfortunate women who live by prostitution, the strongest men and the most beautiful women perhaps in the British dominions, are said to be, the greater part of them, from the lowest rank of people in Ireland, who are generally fed with this root. No food can afford a more decisive proof of its nourishing quality, or of its being peculiarly suitable to the health of the human constitution.

WN-B01-C11-P051

한국어 번역

그러나 사회가 발전하고 인구가 늘며 의복 수요가 커지면, 같은 재료의 가격이 올라 토지의 지대와 이윤에 기여할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is difficult to preserve potatoes through the year, and impossible to store them like corn, for two or three years together. The fear of not being able to sell them before they rot, discourages their cultivation, and is, perhaps, the chief obstacle to their ever becoming in any great country, like bread, the principal vegetable food of all the different ranks of the people.

WN-B01-C11-P052

한국어 번역

양모도 마찬가지다. 목축이 주로 식량을 위한 것일 때 양모는 부산물에 가깝지만, 직물 제조업이 발달하면 독립적인 가치가 커진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Human food seems to be the only produce of land, which always and necessarily affords some rent to the landlord. Other sorts of produce sometimes may, and sometimes may not, according to different circumstances.

WN-B01-C11-P053

한국어 번역

양모 가격이 오르면 양을 기르는 토지의 가치도 높아지고, 그 일부는 지대 상승으로 나타난다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

After food, clothing and lodging are the two great wants of mankind.

WN-B01-C11-P054

한국어 번역

그러나 양모 가격의 상승에는 한계가 있다. 높은 가격은 더 많은 공급을 장려하고, 다른 나라에서의 수입도 늘리기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Land, in its original rude state, can afford the materials of clothing and lodging to a much greater number of people than it can feed. In its improved state, it can sometimes feed a greater number of people than it can supply with those materials; at least in the way in which they require them, and are willing to pay for them. In the one state, therefore, there is always a superabundance of these materials, which are frequently, upon that account, of little or no value. In the other, there is often a scarcity, which necessarily augments their value. In the one state, a great part of them is thrown away as useless and the price of what is used is considered as equal only to the labour and expense of fitting it for use, and can, therefore, afford no rent to the landlord. In the other, they are all made use of, and there is frequently a demand for more than can be had. Somebody is always willing to give more for every part of them, than what is sufficient to pay the expense of bringing them to market. Their price, therefore, can always afford some rent to the landlord.

WN-B01-C11-P055

한국어 번역

목재 역시 사회 발전 단계에 따라 가치가 크게 달라진다. 초기에는 숲이 넓고 인구가 적어 목재가 거의 무가치할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The skins of the larger animals were the original materials of clothing. Among nations of hunters and shepherds, therefore, whose food consists chiefly in the flesh of those animals, everyman, by providing himself with food, provides himself with the materials of more clothing than he can wear. If there was no foreign commerce, the greater part of them would be thrown away as things of no value. This was probably the case among the hunting nations of North America, before their country was discovered by the Europeans, with whom they now exchange their surplus peltry, for blankets, fire-arms, and brandy, which gives it some value. In the present commercial state of the known world, the most barbarous nations, I believe, among whom land property is established, have some foreign commerce of this kind, and find among their wealthier neighbours such a demand for all the materials of clothing, which their land produces, and which can neither be wrought up nor consumed at home, as raises their price above what it costs to send them to those wealthier neighbours. It affords, therefore, some rent to the landlord. When the greater part of the Highland cattle were consumed on their own hills, the exportation of their hides made the most considerable article of the commerce of that country, and what they were exchanged for afforded some addition to the rent of the Highland estates. The wool of England, which in old times, could neither be consumed nor wrought up at home, found a market in the then wealthier and more industrious country of Flanders, and its price afforded something to the rent of the land which produced it. In countries not better cultivated than England was then, or than the Highlands of Scotland are now, and which had no foreign commerce, the materials of clothing would evidently be so superabundant, that a great part of them would be thrown away as useless, and no part could afford any rent to the landlord.

WN-B01-C11-P056

한국어 번역

그때에는 나무를 베어 내는 것이 토지를 경작하기 위한 비용으로 여겨지고, 목재 자체는 운반비조차 충당하지 못할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The materials of lodging cannot always be transported to so great a distance as those of clothing, and do not so readily become an object of foreign commerce. When they are superabundant in the country which produces them, it frequently happens, even in the present commercial state of the world, that they are of no value to the landlord. A good stone quarry in the neighbourhood of London would afford a considerable rent. In many parts of Scotland and Wales it affords none. Barren timber for building is of great value in a populous and well-cultivated country, and the land which produces it affords a considerable rent. But in many parts of North America, the landlord would be much obliged to any body who would carry away the greater part of his large trees. In some parts of the Highlands of Scotland, the bark is the only part of the wood which, for want of roads and water-carriage, can be sent to market; the timber is left to rot upon the ground. When the materials of lodging are so superabundant, the part made use of is worth only the labour and expense of fitting it for that use. It affords no rent to the landlord, who generally grants the use of it to whoever takes the trouble of asking it. The demand of wealthier nations, however, sometimes enables him to get a rent for it. The paving of the streets of London has enabled the owners of some barren rocks on the coast of Scotland to draw a rent from what never afforded any before. The woods of Norway, and of the coasts of the Baltic, find a market in many parts of Great Britain, which they could not find at home, and thereby afford some rent to their proprietors.

WN-B01-C11-P057

한국어 번역

하지만 인구와 건축·조선·제조업이 늘면 목재 수요가 커지고, 숲이 줄어들수록 가격은 상승한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Countries are populous, not in proportion to the number of people whom their produce can clothe and lodge, but in proportion to that of those whom it can feed. When food is provided, it is easy to find the necessary clothing and lodging. But though these are at hand, it may often be difficult to find food. In some parts of the British dominions, what is called a house may be built by one day’s labour of one man. The simplest species of clothing, the skins of animals, require somewhat more labour to dress and prepare them for use. They do not, however, require a great deal. Among savage or barbarous nations, a hundredth, or little more than a hundredth part of the labour of the whole year, will be sufficient to provide them with such clothing and lodging as satisfy the greater part of the people. All the other ninety-nine parts are frequently no more than enough to provide them with food.

WN-B01-C11-P058

한국어 번역

이때 숲은 지대를 제공하기 시작하고, 때로는 같은 토지를 곡물밭으로 쓸 때보다 더 높은 지대를 낼 수도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But when, by the improvement and cultivation of land, the labour of one family can provide food for two, the labour of half the society becomes sufficient to provide food for the whole. The other half, therefore, or at least the greater part of them, can be employed in providing other things, or in satisfying the other wants and fancies of mankind. Clothing and lodging, household furniture, and what is called equipage, are the principal objects of the greater part of those wants and fancies. The rich man consumes no more food than his poor neighbour. In quality it may be very different, and to select and prepare it may require more labour and art; but in quantity it is very nearly the same. But compare the spacious palace and great wardrobe of the one, with the hovel and the few rags of the other, and you will be sensible that the difference between their clothing, lodging, and household furniture, is almost as great in quantity as it is in quality. The desire of food is limited in every man by the narrow capacity of the human stomach; but the desire of the conveniencies and ornaments of building, dress, equipage, and household furniture, seems to have no limit or certain boundary. Those, therefore, who have the command of more food than they themselves can consume, are always willing to exchange the surplus, or, what is the same thing, the price of it, for gratifications of this other kind. What is over and above satisfying the limited desire, is given for the amusement of those desires which cannot be satisfied, but seem to be altogether endless. The poor, in order to obtain food, exert themselves to gratify those fancies of the rich; and to obtain it more certainly, they vie with one another in the cheapness and perfection of their work. The number of workmen increases with the increasing quantity of food, or with the growing improvement and cultivation of the lands; and as the nature of their business admits of the utmost subdivisions of labour, the quantity of materials which they can work up, increases in a much greater proportion than their numbers. Hence arises a demand for every sort of material which human invention can employ, either usefully or ornamentally, in building, dress, equipage, or household furniture; for the fossils and minerals contained in the bowels of the earth, the precious metals, and the precious stones.

WN-B01-C11-P059

한국어 번역

석탄과 금속 광석 같은 지하 생산물도 비슷한 원리에 따른다. 그것들이 지대를 제공하는지는 품질, 위치, 채굴비용, 시장 수요에 달려 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Food is, in this manner, not only the original source of rent, but every other part of the produce of land which afterwards affords rent, derives that part of its value from the improvement of the powers of labour in producing food, by means of the improvement and cultivation of land.

WN-B01-C11-P060

한국어 번역

광산의 지대는 흔히 토지 표면의 지대보다 훨씬 불확실하다. 광맥의 크기와 품질을 미리 정확히 알기 어렵고, 생산량도 크게 변하기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Those other parts of the produce of land, however, which afterwards afford rent, do not afford it always. Even in improved and cultivated countries, the demand for them is not always such as to afford a greater price than what is sufficient to pay the labour, and replace, together with its ordinary profits, the stock which must be employed in bringing them to market. Whether it is or is not such, depends upon different circumstances.

WN-B01-C11-P061

한국어 번역

예를 들어 탄광이 지대를 감당할 수 있는지는 일부는 그 생산성에, 일부는 그 위치에 달려 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Whether a coal mine, for example, can afford any rent, depends partly upon its fertility, and partly upon its situation.

WN-B01-C11-P062

한국어 번역

어떤 종류의 광산이든, 일정한 노동량으로 캐낼 수 있는 광물의 양이 같은 종류의 다른 대부분 광산에서 같은 노동량으로 캐낼 수 있는 양보다 많거나 적은지에 따라 비옥하거나 빈약하다고 말할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

A mine of any kind may be said to be either fertile or barren, according as the quantity of mineral which can be brought from it by a certain quantity of labour, is greater or less than what can be brought by an equal quantity from the greater part of other mines of the same kind.

WN-B01-C11-P063

한국어 번역

위치가 유리한 어떤 탄광은 생산성이 너무 낮아 채굴할 수 없다. 산출물이 비용을 충당하지 못하기 때문이다. 그런 탄광은 이윤도 지대도 제공하지 못한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Some coal mines, advantageously situated, cannot be wrought on account of their barrenness. The produce does not pay the expense. They can afford neither profit nor rent.

WN-B01-C11-P064

한국어 번역

어떤 탄광은 산출물이 노동비를 지급하고, 채굴에 투입된 자본을 통상 이윤과 함께 회수하는 데 겨우 충분하다. 그런 탄광은 사업자에게 어느 정도의 이윤은 주지만 지주에게 지대는 주지 못한다. 지주 자신이 사업자가 되어 자기 자본의 통상 이윤을 얻는 경우가 아니면 유리하게 운영할 수 없다. 스코틀랜드의 많은 탄광이 이런 방식으로 운영되며 다른 방식으로는 운영될 수 없다. 지주는 다른 사람에게 지대를 받고 맡길 수 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

There are some, of which the produce is barely sufficient to pay the labour, and replace, together with its ordinary profits, the stock employed in working them. They afford some profit to the undertaker of the work, but no rent to the landlord. They can be wrought advantageously by nobody but the landlord, who, being himself the undertaker of the work, gets the ordinary profit of the capital which he employs in it. Many coal mines in Scotland are wrought in this manner, and can be wrought in no other. The landlord will allow nobody else to work them without paying some rent, and nobody can afford to pay any.

WN-B01-C11-P065

한국어 번역

같은 나라에서도 충분히 생산적인 다른 탄광은 위치 때문에 운영할 수 없다. 보통 또는 보통보다 적은 노동으로도 채굴비를 충당할 만큼 광물을 캐낼 수 있지만, 인구가 희박하고 좋은 도로나 수운이 없는 내륙에서는 그 양을 팔 수 없기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Other coal mines in the same country, sufficiently fertile, cannot be wrought on account of their situation. A quantity of mineral, sufficient to defray the expense of working, could be brought from the mine by the ordinary, or even less than the ordinary quantity of labour: but in an inland country, thinly inhabited, and without either good roads or water-carriage, this quantity could not be sold.

WN-B01-C11-P066

한국어 번역

석탄은 나무보다 덜 쾌적한 연료이며 건강에도 덜 좋다고 여겨진다. 따라서 소비되는 장소에서 석탄 비용은 일반적으로 장작 비용보다 다소 낮아야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Coals are a less agreeable fuel than wood: they are said too to be less wholesome. The expense of coals, therefore, at the place where they are consumed, must generally be somewhat less than that of wood.

WN-B01-C11-P067

한국어 번역

장작의 가격은 다시 농업의 상태에 따라 가축 가격과 거의 같은 방식, 정확히 같은 이유로 변한다. 농업의 초기에는 각 나라의 대부분이 숲으로 덮여 있고, 그 숲은 지주에게 아무 가치도 없는 장애물에 지나지 않는다. 지주는 누가 베어 가기만 한다면 기꺼이 거저 주었을 것이다. 농업이 발전하면 일부 숲은 경작 확대에 따라 개간되고, 일부는 가축 수가 늘면서 쇠퇴한다. 가축은 인공 사료가 늘어나는 비율만큼 증가하지는 않지만, 계속 보살피고 안전하게 보호할 수 있게 되면서 수가 늘어난다. 숲은 가축이 풀보다 더 잘 자라지 못하게 막고, 어린 나무를 먹어 치우며 오래된 나무의 번식을 방해한다. 한 세기나 두 세기 뒤에는 숲 전체가 황폐해질 수 있다. 그때 장작 부족이 가격을 올린다. 장작은 높은 지대를 내고, 지주는 때로 가장 좋은 토지도 목재 생산에 쓰는 것이 더 유리하다고 본다. 그러나 이윤이 오래 지속되면 그 부족도 보충된다. 현재 대브리튼 여러 지역에서는 이런 상태인 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of wood, again, varies with the state of agriculture, nearly in the same manner, and exactly for the same reason, as the price of cattle. In its rude beginnings, the greater part of every country is covered with wood, which is then a mere incumbrance, of no value to the landlord, who would gladly give it to any body for the cutting. As agriculture advances, the woods are partly cleared by the progress of tillage, and partly go to decay in consequence of the increased number of cattle. These, though they do not increase in the same proportion as corn, which is altogether the acquisition of human industry, yet multiply under the care and protection of men, who store up in the season of plenty what may maintain them in that of scarcity; who, through the whole year, furnish them with a greater quantity of food than uncultivated nature provides for them; and who, by destroying and extirpating their enemies, secure them in the free enjoyment of all that she provides. Numerous herds of cattle, when allowed to wander through the woods, though they do not destroy the old trees, hinder any young ones from coming up; so that, in the course of a century or two, the whole forest goes to ruin. The scarcity of wood then raises its price. It affords a good rent; and the landlord sometimes finds that he can scarce employ his best lands more advantageously than in growing barren timber, of which the greatness of the profit often compensates the lateness of the returns. This seems, in the present times, to be nearly the state of things in several parts of Great Britain, where the profit of planting is found to be equal to that of either corn or pasture. The advantage which the landlord derives from planting can nowhere exceed, at least for any considerable time, the rent which these could afford him; and in an inland country, which is highly cultivated, it will frequently not fall much short of this rent. Upon the sea-coast of a well-improved country, indeed, if coals can conveniently be had for fuel, it may sometimes be cheaper to bring barren timber for building from less cultivated foreign countries than to raise it at home. In the new town of Edinburgh, built within these few years, there is not, perhaps, a single stick of Scotch timber.

WN-B01-C11-P068

한국어 번역

장작 가격이 얼마이든 석탄불 비용이 장작불 비용과 거의 같다면, 그 장소와 사정에서 석탄 가격은 가능한 최고 수준이라고 확신할 수 있다. 잉글랜드의 몇몇 내륙 지역, 특히 옥스퍼드셔에서는 서민의 불에도 석탄과 장작을 섞어 쓰는 일이 흔한데, 이는 두 연료 비용 차이가 크지 않음을 보여 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Whatever may be the price of wood, if that of coals is such that the expense of a coal fire is nearly equal to that of a wood one we may be assured, that at that place, and in these circumstances, the price of coals is as high as it can be. It seems to be so in some of the inland parts of England, particularly in Oxfordshire, where it is usual, even in the fires of the common people, to mix coals and wood together, and where the difference in the expense of those two sorts of fuel cannot, therefore, be very great. Coals, in the coal countries, are everywhere much below this highest price. If they were not, they could not bear the expense of a distant carriage, either by land or by water. A small quantity only could be sold; and the coal masters and the coal proprietors find it more for their interest to sell a great quantity at a price somewhat above the lowest, than a small quantity at the highest. The most fertile coal mine, too, regulates the price of coals at all the other mines in its neighbourhood. Both the proprietor and the undertaker of the work find, the one that he can get a greater rent, the other that he can get a greater profit, by somewhat underselling all their neighbours. Their neighbours are soon obliged to sell at the same price, though they cannot so well afford it, and though it always diminishes, and sometimes takes away altogether, both their rent and their profit. Some works are abandoned altogether; others can afford no rent, and can be wrought only by the proprietor.

WN-B01-C11-P069

한국어 번역

석탄이 상당 기간 팔릴 수 있는 최저가격은 다른 모든 상품과 마찬가지로 시장에 내놓는 데 필요한 자본을 통상 이윤과 함께 겨우 회수할 수 있는 가격이다. 지주가 지대를 받을 수 없어 직접 운영하거나 완전히 방치해야 하는 탄광에서는 석탄 가격이 일반적으로 이 수준에 가까워야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The lowest price at which coals can be sold for any considerable time, is, like that of all other commodities, the price which is barely sufficient to replace, together with its ordinary profits, the stock which must be employed in bringing them to market. At a coal mine for which the landlord can get no rent, but, which he must either work himself or let it alone altogether, the price of coals must generally be nearly about this price.

WN-B01-C11-P070

한국어 번역

석탄이 지대를 제공하는 경우에도 지대가 그 가격에서 차지하는 몫은 토지의 다른 대부분 원생산물보다 작다. 지상 영지의 지대는 흔히 총생산물의 3분의 1로 여겨지며 수확의 우연한 변동과 무관한 확정 지대인 경우가 많다. 탄광에서는 총생산물의 5분의 1이면 매우 큰 지대이고 10분의 1이 보통이며, 확정 지대인 경우는 드물고 산출량의 우연한 변화에 좌우된다. 이러한 변화가 매우 크기 때문에, 숯을 생산할 수 있는 숲의 가치는 흔히 20년치 매입가격으로 평가되지만 탄광의 가치는 10년치 매입가격으로 평가되는 것이 상당히 공정한 것으로 여겨진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Rent, even where coals afford one, has generally a smaller share in their price than in that of most other parts of the rude produce of land. The rent of an estate above ground, commonly amounts to what is supposed to be a third of the gross produce; and it is generally a rent certain and independent of the occasional variations in the crop. In coal mines, a fifth of the gross produce is a very great rent, a tenth the common rent; and it is seldom a rent certain, but depends upon the occasional variations in the produce. These are so great, that in a country where thirty years purchase is considered as a moderate price for the property of a landed estate, ten years purchase is regarded as a good price for that of a coal mine.

WN-B01-C11-P071

한국어 번역

탄광의 소유자에게 그 가치는 흔히 생산성만큼 위치에도 달려 있다. 금속 광산의 가치는 생산성에 더 많이, 위치에는 덜 달려 있다. 거친 금속, 더욱이 귀금속은 광석에서 분리되면 가치가 커서 매우 먼 육상운송과 해상운송 비용을 대체로 감당할 수 있다. 그 시장은 광산 인근에 한정되지 않고 세계 전체로 확대된다. 일본의 구리는 유럽에서 거래되고, 스페인의 철은 칠레와 페루에서 거래된다. 페루의 은은 유럽뿐 아니라 유럽에서 아시아로 보내지는 상품에서도 길을 찾는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The value of a coal mine to the proprietor, frequently depends as much upon its situation as upon its fertility. That of a metallic mine depends more upon its fertility, and less upon its situation. The coarse, and still more the precious metals, when separated from the ore, are so valuable, that they can generally bear the expense of a very long land, and of the most distant sea carriage. Their market is not confined to the countries in the neighbourhood of the mine, but extends to the whole world. The copper of Japan makes an article of commerce in Europe; the iron of Spain in that of Chili and Peru. The silver of Peru finds its way, not only to Europe, but from Europe to China.

WN-B01-C11-P072

한국어 번역

웨스트모얼랜드나 슈롭셔의 석탄 가격은 뉴캐슬의 가격에 거의 영향을 주지 못하며, 리오네 지방의 석탄 가격은 전혀 영향을 주지 못한다. 이렇게 멀리 떨어진 탄광의 생산물은 서로 경쟁할 수 없다. 그러나 가장 멀리 떨어진 금속 광산의 생산물은 자주, 실제로는 일반적으로 서로 경쟁한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of coals in Westmoreland or Shropshire can have little effect on their price at Newcastle; and their price in the Lionnois can have none at all. The productions of such distant coal mines can never be brought into competition with one another. But the productions of the most distant metallic mines frequently may, and in fact commonly are.

WN-B01-C11-P073

한국어 번역

그러므로 세계에서 가장 생산적인 광산의 거친 금속 가격, 더욱이 귀금속 가격은 다른 모든 광산의 가격에 어느 정도 반드시 영향을 미친다. 일본의 구리 가격은 유럽 구리광산의 가격에 어느 정도 영향을 준다. 페루에서의 은 가격, 곧 그곳에서 은이 살 수 있는 노동량이나 다른 상품의 양은 유럽의 은광뿐 아니라 중국의 은광 가격에도 어느 정도 영향을 주어야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price, therefore, of the coarse, and still more that of the precious metals, at the most fertile mines in the world, must necessarily more or less affect their price at every other in it. The price of copper in Japan must have some influence upon its price at the copper mines in Europe. The price of silver in Peru, or the quantity either of labour or of other goods which it will purchase there, must have some influence on its price, not only at the silver mines of Europe, but at those of China. After the discovery of the mines of Peru, the silver mines of Europe were, the greater part of them, abandoned. The value of silver was so much reduced, that their produce could no longer pay the expense of working them, or replace, with a profit, the food, clothes, lodging, and other necessaries which were consumed in that operation. This was the case, too, with the mines of Cuba and St. Domingo, and even with the ancient mines of Peru, after the discovery of those of Potosi. The price of every metal, at every mine, therefore, being regulated in some measure by its price at the most fertile mine in the world that is actually wrought, it can, at the greater part of mines, do very little more than pay the expense of working, and can seldom afford a very high rent to the landlord. Rent accordingly, seems at the greater part of mines to have but a small share in the price of the coarse, and a still smaller in that of the precious metals. Labour and profit make up the greater part of both.

WN-B01-C11-P074

한국어 번역

세계에서 가장 생산적인 것으로 알려진 콘월 주석광산의 평균 지대는, 광산 감독관 보를레이스 목사의 설명에 따르면 총생산물의 6분의 1 정도로 볼 수 있다. 어떤 광산은 더 많이, 어떤 광산은 그보다 적게 낸다. 스코틀랜드의 매우 생산적인 몇몇 납광산에서도 총생산물의 6분의 1이 지대다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

A sixth part of the gross produce may be reckoned the average rent of the tin mines of Cornwall, the most fertile that are known in the world, as we are told by the Rev. Mr. Borlace, vice-warden of the stannaries. Some, he says, afford more, and some do not afford so much. A sixth part of the gross produce is the rent, too, of several very fertile lead mines in Scotland.

WN-B01-C11-P075

한국어 번역

프레지에와 울로아에 따르면 페루의 은광에서는 소유자가 광산 사업자에게 자기 제분소에서 광석을 갈고 통상적인 제분료를 내도록 하는 것 외에는 아무 대가도 요구하지 않는 경우가 많다. 실제로 1736년까지 스페인 국왕의 세금은 순은의 5분의 1이었고, 그때까지는 세계에서 가장 부유한 것으로 알려진 페루 은광 대부분의 실제 지대로 볼 수 있었다. 이 세금이 없었다면 그 5분의 1은 자연히 지주의 몫이 되었을 것이고, 많은 광산은 그 뒤에도 계속 운영되었을 것이다. 콘월 주석광산의 세금은 주석 가격의 20분의 1을 넘는다고 여겨지며, 이 세금이 없었다면 마찬가지로 광산 소유자에게 돌아갔을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the silver mines of Peru, we are told by Frezier and Ulloa, the proprietor frequently exacts no other acknowledgment from the undertaker of the mine, but that he will grind the ore at his mill, paying him the ordinary multure or price of grinding. Till 1736, indeed, the tax of the king of Spain amounted to one fifth of the standard silver, which till then might be considered as the real rent of the greater part of the silver mines of Peru, the richest which have been known in the world. If there had been no tax, this fifth would naturally have belonged to the landlord, and many mines might have been wrought which could not then be wrought, because they could not afford this tax. The tax of the duke of Cornwall upon tin is supposed to amount to more than five per cent. or one twentieth part of the value; and whatever may be his proportion, it would naturally, too, belong to the proprietor of the mine, if tin was duty free. But if you add one twentieth to one sixth, you will find that the whole average rent of the tin mines of Cornwall, was to the whole average rent of the silver mines of Peru, as thirteen to twelve. But the silver mines of Peru are not now able to pay even this low rent; and the tax upon silver was, in 1736, reduced from one fifth to one tenth. Even this tax upon silver, too, gives more temptation to smuggling than the tax of one twentieth upon tin; and smuggling must be much easier in the precious than in the bulky commodity. The tax of the king of Spain, accordingly, is said to be very ill paid, and that of the duke of Cornwall very well. Rent, therefore, it is probable, makes a greater part of the price of tin at the most fertile tin mines than it does of silver at the most fertile silver mines in the world. After replacing the stock employed in working those different mines, together with its ordinary profits, the residue which remains to the proprietor is greater, it seems, in the coarse, than in the precious metal.

WN-B01-C11-P076

한국어 번역

페루에서 은광 사업자의 이윤도 일반적으로 크지 않다. 같은 신뢰할 만하고 박식한 저자들에 따르면, 누군가 페루에서 새 광산을 개발하려 하면 모두가 그를 파산과 몰락이 예정된 사람으로 보고 피한다. 그곳에서도 광산업은 이곳과 마찬가지로, 당첨금이 꽝을 보상하지 못하지만 큰 당첨금 때문에 많은 모험가가 끌려드는 복권으로 여겨지는 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Neither are the profits of the undertakers of silver mines commonly very great in Peru. The same most respectable and well-informed authors acquaint us, that when any person undertakes to work a new mine in Peru, he is universally looked upon as a man destined to bankruptcy and ruin, and is upon that account shunned and avoided by every body. Mining, it seems, is considered there in the same light as here, as a lottery, in which the prizes do not compensate the blanks, though the greatness of some tempts many adventurers to throw away their fortunes in such unprosperous projects.

WN-B01-C11-P077

한국어 번역

그러나 군주는 은광 생산물에서 상당한 수입을 얻으므로 페루 법은 새 광산의 발견과 개발을 최대한 장려한다. 새 광산을 발견한 사람은 광맥의 방향이라고 생각하는 쪽으로 길이 246피트, 폭은 그 절반인 구역을 측량할 권리를 얻는다. 그는 그 구역의 소유자가 되어 지주에게 아무 대가도 지급하지 않고 채굴할 수 있다. 같은 방식으로 새 광산의 발견자에게 두 번째와 세 번째 구역을 잇달아 측량할 수 있는 권리도 부여되지만, 그 권리는 일정한 조건과 제한 아래 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As the sovereign, however, derives a considerable part of his revenue from the produce of silver mines, the law in Peru gives every possible encouragement to the discovery and working of new ones. Whoever discovers a new mine, is entitled to measure off two hundred and forty-six feet in length, according to what he supposes to be the direction of the vein, and half as much in breadth. He becomes proprietor of this portion of the mine, and can work it without paving any acknowledgment to the landlord. The interest of the duke of Cornwall has given occasion to a regulation nearly of the same kind in that ancient dutchy. In waste and uninclosed lands, any person who discovers a tin mine may mark out its limits to a certain extent, which is called bounding a mine. The bounder becomes the real proprietor of the mine, and may either work it himself, or give it in lease to another, without the consent of the owner of the land, to whom, however, a very small acknowledgment must be paid upon working it. In both regulations, the sacred rights of private property are sacrificed to the supposed interests of public revenue.

WN-B01-C11-P078

한국어 번역

페루에서는 새 금광의 발견과 개발에도 같은 장려가 주어진다. 금에 대한 국왕의 세금은 순금의 20분의 1에 불과하다. 한때는 은과 마찬가지로 5분의 1, 뒤에는 10분의 1이었지만, 채굴이 이 두 세금 중 더 낮은 것조차 감당하지 못한다는 사실이 드러났다. 그러나 프레지에와 울로아에 따르면 은광으로 재산을 모은 사람을 찾기 드물다면, 금광으로 그렇게 한 사람은 더욱 드물다. 따라서 이 20분의 1이 페루 금광 대부분이 부담할 수 있는 전체 지대인 듯하고, 세금이 내려간 이유는 지주가 자기 재산을 가능한 한 많이 활용하는 데 이해관계를 가지듯 국왕도 가능한 한 많은 금과 은을 채굴하는 데 이해관계를 가지기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The same encouragement is given in Peru to the discovery and working of new gold mines; and in gold the king’s tax amounts only to a twentieth part of the standard rental. It was once a fifth, and afterwards a tenth, as in silver; but it was found that the work could not bear even the lowest of these two taxes. If it is rare, however, say the same authors, Frezier and Ulloa, to find a person who has made his fortune by a silver, it is still much rarer to find one who has done so by a gold mine. This twentieth part seems to be the whole rent which is paid by the greater part of the gold mines of Chili and Peru. Gold, too, is much more liable to be smuggled than even silver; not only on account of the superior value of the metal in proportion to its bulk, but on account of the peculiar way in which nature produces it. Silver is very seldom found virgin, but, like most other metals, is generally mineralized with some other body, from which it is impossible to separate it in such quantities as will pay for the expense, but by a very laborious and tedious operation, which cannot well be carried on but in work-houses erected for the purpose, and, therefore, exposed to the inspection of the king’s officers. Gold, on the contrary, is almost always found virgin. It is sometimes found in pieces of some bulk; and, even when mixed, in small and almost insensible particles, with sand, earth, and other extraneous bodies, it can be separated from them by a very short and simple operation, which can be carried on in any private house by any body who is possessed of a small quantity of mercury. If the king’s tax, therefore, is but ill paid upon silver, it is likely to be much worse paid upon gold; and rent must make a much smaller part of the price of gold than that of silver.

WN-B01-C11-P079

한국어 번역

귀금속이 상당 기간 팔릴 수 있는 최저가격, 곧 그것과 교환될 수 있는 다른 상품의 최소량은 모든 다른 상품의 최저 통상가격을 정하는 것과 같은 원리로 결정된다. 광산에서 시장으로 그것을 가져오는 데 통상적으로 투입해야 하는 자본, 그리고 소비해야 하는 식량·의복·주거가 그 가격을 정한다. 가격은 적어도 그 자본을 통상 이윤과 함께 회수하기에 충분해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The lowest price at which the precious metals can be sold, or the smallest quantity of other goods for which they can be exchanged, during any considerable time, is regulated by the same principles which fix the lowest ordinary price of all other goods. The stock which must commonly be employed, the food, clothes, and lodging, which must commonly be consumed in bringing them from the mine to the market, determine it. It must at least be sufficient to replace that stock, with the ordinary profits.

WN-B01-C11-P080

한국어 번역

그러나 귀금속의 최고가격은 그 금속 자체의 실제 희소함이나 풍부함 외에는 어떤 것에도 필연적으로 정해지지 않는 듯하다. 석탄 가격이 장작 가격에 의해 제한되는 것처럼 다른 상품의 희소성에 의해 제한되지 않는다. 금의 희소함을 어느 정도 높이면 가장 작은 금 조각도 다이아몬드보다 귀해져 더 많은 다른 상품과 교환될 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Their highest price, however, seems not to be necessarily determined by any thing but the actual scarcity or plenty of these metals themselves. It is not determined by that of any other commodity, in the same manner as the price of coals is by that of wood, beyond which no scarcity can ever raise it. Increase the scarcity of gold to a certain degree, and the smallest bit of it may become more precious than a diamond, and exchange for a greater quantity of other goods.

WN-B01-C11-P081

한국어 번역

이 금속에 대한 수요는 일부는 유용성에서, 일부는 아름다움에서 생긴다. 철을 제외하면 그것들은 아마 다른 어떤 금속보다도 유용하다. 녹과 불순물에 덜 취약해 깨끗하게 유지하기 쉽고, 식탁이나 부엌의 기구도 그것으로 만들면 흔히 더 쾌적하다. 은으로 만든 솥은 납·구리·주석 솥보다 더 청결하고, 같은 성질 때문에 금으로 만든 솥은 은 솥보다도 더 나을 것이다. 그러나 이들의 주된 장점은 아름다움에 있으며, 특히 의복과 가구의 장식에 알맞다. 어떤 도료나 염료도 도금만큼 화려한 색을 내지 못한다. 그 아름다움의 가치는 희소함으로 크게 높아진다. 대부분의 부자에게 부의 가장 큰 즐거움은 부를 과시하는 데 있으며, 그들이 소유한 부유함의 확실한 표지를 다른 사람이 갖지 못한다고 생각할 때 그 즐거움은 가장 완전하다. 그래서 유용성이 적은 물건이라도 희소하고 아름답다면 더 큰 가격을 치른다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The demand for those metals arises partly from their utility, and partly from their beauty. If you except iron, they are more useful than, perhaps, any other metal. As they are less liable to rust and impurity, they can more easily be kept clean; and the utensils, either of the table or the kitchen, are often, upon that account, more agreeable when made of them. A silver boiler is more cleanly than a lead, copper, or tin one; and the same quality would render a gold boiler still better than a silver one. Their principal merit, however, arises from their beauty, which renders them peculiarly fit for the ornaments of dress and furniture. No paint or dye can give so splendid a colour as gilding. The merit of their beauty is greatly enhanced by their scarcity. With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches; which, in their eye, is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves. In their eyes, the merit of an object, which is in any degree either useful or beautiful, is greatly enhanced by its scarcity, or by the great labour which it requires to collect any considerable quantity of it; a labour which nobody can afford to pay but themselves. Such objects they are willing to purchase at a higher price than things much more beautiful and useful, but more common. These qualities of utility, beauty, and scarcity, are the original foundation of the high price of those metals, or of the great quantity of other goods for which they can everywhere be exchanged. This value was antecedent to, and independent of their being employed as coin, and was the quality which fitted them for that employment. That employment, however, by occasioning a new demand, and by diminishing the quantity which could be employed in any other way, may have afterwards contributed to keep up or increase their value.

WN-B01-C11-P082

한국어 번역

보석에 대한 수요는 전적으로 아름다움에서 생긴다. 장식 외에는 아무 쓸모가 없으며, 그 아름다움의 가치는 희소함 또는 광산에서 얻는 어려움과 비용 때문에 크게 높아진다. 따라서 대부분의 경우 높은 가격 거의 전부는 임금과 이윤으로 이루어진다. 지대의 몫은 매우 작거나 전혀 없고, 가장 생산적인 광산만 상당한 지대를 제공한다. 보석상 타베르니에가 인도의 골콘다와 비자푸르 다이아몬드 광산을 방문했을 때, 그 나라의 군주가 모든 다이아몬드 광산을 자기 이익을 위해 채굴하거나 일정한 수입을 받고 다른 사람에게 맡겼다고 기록한다. 그러나 그 지대는 실제로 지대라기보다 독점이윤에 가까웠을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The demand for the precious stones arises altogether from their beauty. They are of no use but as ornaments; and the merit of their beauty is greatly enhanced by their scarcity, or by the difficulty and expense of getting them from the mine. Wages and profit accordingly make up, upon most occasions, almost the whole of the high price. Rent comes in but for a very small share, frequently for no share; and the most fertile mines only afford any considerable rent. When Tavernier, a jeweller, visited the diamond mines of Golconda and Visiapour, he was informed that the sovereign of the country, for whose benefit they were wrought, had ordered all of them to be shut up except those which yielded the largest and finest stones. The other, it seems, were to the proprietor not worth the working.

WN-B01-C11-P083

한국어 번역

귀금속과 보석의 가격은 세계 전체에서 가장 생산적인 광산의 가격에 의해 조절되므로, 어떤 광산이 소유자에게 줄 수 있는 지대는 절대적 생산성이 아니라 상대적 생산성, 곧 같은 종류의 다른 광산보다 얼마나 우월한가에 비례한다. 만약 포토시 광산이 유럽 광산보다 우월했던 만큼 포토시보다 더 우월한 새 광산이 발견된다면, 은 가격은 크게 낮아져 포토시 광산도 채굴비를 충당하지 못할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As the prices, both of the precious metals and of the precious stones, is regulated all over the world by their price at the most fertile mine in it, the rent which a mine of either can afford to its proprietor is in proportion, not to its absolute, but to what may be called its relative fertility, or to its superiority over other mines of the same kind. If new mines were discovered, as much superior to those of Potosi, as they were superior to those of Europe, the value of silver might be so much degraded as to render even the mines of Potosi not worth the working. Before the discovery of the Spanish West Indies, the most fertile mines in Europe may have afforded as great a rent to their proprietors as the richest mines in Peru do at present. Though the quantity of silver was much less, it might have exchanged for an equal quantity of other goods, and the proprietor’s share might have enabled him to purchase or command an equal quantity either of labour or of commodities.

WN-B01-C11-P084

한국어 번역

그럼에도 새 광산이 세계에 공급하는 은의 양이 늘어나면서, 생산물과 지대의 가치, 곧 공공과 소유자에게 제공하는 실제 수입은 이전과 같을 수도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The value, both of the produce and of the rent, the real revenue which they afforded, both to the public and to the proprietor, might have been the same.

WN-B01-C11-P085

한국어 번역

귀금속이나 보석의 가장 풍부한 광산도 세계의 부를 거의 늘리지 못한다. 가치가 주로 희소성에서 생기는 생산물은 풍부해지면 반드시 가치가 낮아진다. 은 식기와 의복·가구의 사치스러운 장식품을 더 적은 상품으로 살 수 있게 되는 것이 그 풍부함에서 세계가 얻을 수 있는 유일한 이점일 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The most abundant mines, either of the precious metals, or of the precious stones, could add little to the wealth of the world. A produce, of which the value is principally derived from its scarcity, is necessarily degraded by its abundance. A service of plate, and the other frivolous ornaments of dress and furniture, could be purchased for a smaller quantity of commodities; and in this would consist the sole advantage which the world could derive from that abundance.

WN-B01-C11-P086

한국어 번역

지상 영지는 다르다. 그 생산물과 지대의 가치는 상대적 생산성이 아니라 절대적 생산성에 비례한다. 일정한 양의 식량·의복·주거를 생산하는 토지는 언제나 일정한 수의 사람을 먹이고 입히고 재울 수 있다. 그 가운데 지주에게 돌아가는 비율이 얼마이든, 그는 그 사람들의 노동과 그 노동이 공급하는 상품을 그만큼 지배할 수 있다. 가장 메마른 토지의 가치도 인근의 가장 비옥한 토지 때문에 낮아지는 것이 아니라 오히려 높아진다. 비옥한 토지가 부양하는 많은 사람은 메마른 토지가 공급할 수 있는 모든 생산물을 위한 시장을 제공하기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is otherwise in estates above ground. The value, both of their produce and of their rent, is in proportion to their absolute, and not to their relative fertility. The land which produces a certain quantity of food, clothes, and lodging, can always feed, clothe, and lodge, a certain number of people; and whatever may be the proportion of the landlord, it will always give him a proportionable command of the labour of those people, and of the commodities with which that labour can supply him. The value of the most barren land is not diminished by the neighbourhood of the most fertile. On the contrary, it is generally increased by it. The great number of people maintained by the fertile lands afford a market to many parts of the produce of the barren, which they could never have found among those whom their own produce could maintain.

WN-B01-C11-P087

한국어 번역

식량 생산에서 토지의 비옥도를 높이는 모든 것은 그 개량이 이루어진 토지의 가치만 높이는 것이 아니라, 다른 많은 토지의 생산물에 새 수요를 만들어 그 가치도 높이는 데 기여한다. 토지 개량으로 많은 사람이 자기 소비를 넘는 식량을 갖게 되는 것이 귀금속과 보석, 그리고 인간의 옷·주거·가재도구·장식에 쓰이는 다른 모든 편의품과 장식품에 대한 수요가 생기는 큰 원인이다. 식량은 수요를 낳을 뿐 아니라 그 수요를 충족시키는 데 필요한 자원도 제공한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Whatever increases the fertility of land in producing food, increases not only the value of the lands upon which the improvement is bestowed, but contributes likewise to increase that of many other lands, by creating a new demand for their produce. That abundance of food, of which, in consequence of the improvement of land, many people have the disposal beyond what they themselves can consume, is the great cause of the demand, both for the precious metals and the precious stones, as well as for every other conveniency and ornament of dress, lodging, household furniture, and equipage. Food not only constitutes the principal part of the riches of the world, but it is the abundance of food which gives the principal part of their value to many other sorts of riches. The poor inhabitants of Cuba and St. Domingo, when they were first discovered by the Spaniards, used to wear little bits of gold as ornaments in their hair and other parts of their dress. They seemed to value them as we would do any little pebbles of somewhat more than ordinary beauty, and to consider them as just worth the picking up, but not worth the refusing to any body who asked them, They gave them to their new guests at the first request, without seeming to think that they had made them any very valuable present. They were astonished to observe the rage of the Spaniards to obtain them; and had no notion that there could anywhere be a country in which many people had the disposal of so great a superfluity of food; so scanty always among themselves, that, for a very small quantity of those glittering baubles, they would willingly give as much as might maintain a whole family for many years. Could they have been made to understand this, the passion of the Spaniards would not have surprised them.

WN-B01-C11-P088

한국어 번역

개량과 경작이 늘어 식량이 풍부해지면, 식량이 아니면서 유용이나 장식에 쓸 수 있는 토지 생산물의 모든 부분에 대한 수요도 반드시 늘어난다. 따라서 발전의 전 과정에서 이 두 종류 생산물의 비교가치에는 한 가지 방향의 변화만 있을 것으로 기대할 수 있다. 때로는 지대를 주고 때로는 주지 않는 종류의 가치는 언제나 지대를 제공하는 종류의 가치에 비해 계속 올라가야 한다. 기술과 산업이 발달하면서 의복과 주거의 재료, 유용한 광물과 화석, 귀금속과 보석은 점차 더 많이 요구되고 더 많은 식량과 교환된다. 다시 말해 그 가격이 점차 높아져 점점 더 많은 지대를 제공한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The increasing abundance of food, in consequence of the increasing improvement and cultivation, must necessarily increase the demand for every part of the produce of land which is not food, and which can be applied either to use or to ornament. In the whole progress of improvement, it might, therefore, be expected there should be only one variation in the comparative values of those two different sorts of produce. The value of that sort which sometimes does, and sometimes does not afford rent, should constantly rise in proportion to that which always affords some rent. As art and industry advance, the materials of clothing and lodging, the useful fossils and materials of the earth, the precious metals and the precious stones, should gradually come to be more and more in demand, should gradually exchange for a greater and a greater quantity of food; or, in other words, should gradually become dearer and dearer. This, accordingly, has been the case with most of these things upon most occasions, and would have been the case with all of them upon all occasions, if particular accidents had not, upon some occasions, increased the supply of some of them in a still greater proportion than the demand.

WN-B01-C11-P089

한국어 번역

예를 들어 건축용 석재 채석장의 가치는 주변 지역의 개량과 인구 증가에 따라 반드시 높아지며, 특히 인근에 하나뿐이라면 더욱 그렇다. 그러나 은광의 가치는 천 마일 안에 다른 은광이 없더라도 그 광산이 있는 나라의 발전에 따라 반드시 높아지는 것은 아니다. 건축용 석재 채석장의 시장은 몇 마일 밖으로 거의 확장될 수 없고, 수요는 대체로 주변 소국의 산업·인구·수입에 비례한다. 반면 은광의 시장은 세계의 알려진 지역 전체로 확대될 수 있다. 따라서 세계 전체가 발전하고 인구가 늘지 않는 한, 은 수요는 그 광산 주변 국가의 발전만으로는 조금도 늘지 않을 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The value of a free-stone quarry, for example, will necessarily increase with the increasing improvement and population of the country round about it, especially if it should be the only one in the neighbourhood. But the value of a silver mine, even though there should not be another within a thousand miles of it, will not necessarily increase with the improvement of the country in which it is situated. The market for the produce of a free-stone quarry can seldom extend more than a few miles round about it, and the demand must generally be in proportion to the improvement and population of that small district; but the market for the produce of a silver mine may extend over the whole known world. Unless the world in general, therefore, be advancing in improvement and population, the demand for silver might not be at all increased by the improvement even of a large country in the neighbourhood of the mine. Even though the world in general were improving, yet if, in the course of its improvements, new mines should be discovered, much more fertile than any which had been known before, though the demand for silver would necessarily increase, yet the supply might increase in so much a greater proportion, that the real price of that metal might gradually fall; that is, any given quantity, a pound weight of it, for example, might gradually purchase or command a smaller and a smaller quantity of labour, or exchange for a smaller and a smaller quantity of corn, the principal part of the subsistence of the labourer.

WN-B01-C11-P090

한국어 번역

은의 큰 시장은 세계의 상업적이고 문명화된 지역이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The great market for silver is the commercial and civilized part of the world.

WN-B01-C11-P091

한국어 번역

개량의 전반적인 진전에 따라 이 시장의 수요가 증가하는데 공급이 같은 비율로 늘지 않는다면, 은의 가치는 곡물에 비해 점차 상승할 것이다. 일정한 양의 은은 점점 더 많은 곡물과 교환될 것이며, 다시 말해 곡물의 평균 화폐가격은 점차 더 싸질 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

If, by the general progress of improvement, the demand of this market should increase, while, at the same time, the supply did not increase in the same proportion, the value of silver would gradually rise in proportion to that of corn. Any given quantity of silver would exchange for a greater and a greater quantity of corn; or, in other words, the average money price of corn would gradually become cheaper and cheaper.

WN-B01-C11-P092

한국어 번역

반대로 어떤 우연으로 공급이 여러 해 동안 수요보다 더 큰 비율로 늘어난다면, 은은 점차 더 싸질 것이다. 다시 말해 모든 개량에도 불구하고 곡물의 평균 화폐가격은 점점 더 비싸질 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

If, on the contrary, the supply, by some accident, should increase, for many years together, in a greater proportion than the demand, that metal would gradually become cheaper and cheaper; or, in other words, the average money price of corn would, in spite of all improvements, gradually become dearer and dearer.

WN-B01-C11-P093

한국어 번역

한편 은의 공급이 수요와 거의 같은 비율로 증가한다면, 은은 계속 거의 같은 양의 곡물을 구매하거나 그와 교환될 것이며, 모든 개량에도 불구하고 곡물의 평균 화폐가격도 거의 같은 수준을 유지할 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But if, on the other hand, the supply of that metal should increase nearly in the same proportion as the demand, it would continue to purchase or exchange for nearly the same quantity of corn; and the average money price of corn would, in spite of all improvements. continue very nearly the same.

WN-B01-C11-P094

한국어 번역

이 세 경우가 개량의 진행 과정에서 일어날 수 있는 모든 조합을 거의 망라하는 듯하다. 프랑스와 대브리튼에서 일어난 일을 기준으로 판단한다면, 현시대에 앞선 네 세기 동안 이 세 가지 서로 다른 조합이 유럽 시장에서, 그리고 내가 여기 적은 것과 거의 같은 순서로 나타난 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

These three seem to exhaust all the possible combinations of events which can happen in the progress of improvement; and during the course of the four centuries preceding the present, if we may judge by what has happened both in France and Great Britain, each of those three different combinations seems to have taken place in the European market, and nearly in the same order, too, in which I have here set them down.

WN-B01-C11-P095

한국어 번역

지난 네 세기 동안 은 가치의 변동에 관한 여담.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Digression concerning the Variations in the value of Silver during the Course of the Four last Centuries.

WN-B01-C11-P096

한국어 번역

제1기. 1350년과 그 이전 얼마 동안 잉글랜드에서 밀 한 쿼터의 평균가격은 타워 중량 은 4온스, 곧 오늘날 화폐 약 20실링보다 낮게 평가되지 않았던 듯하다. 이 가격은 점차 은 2온스, 곧 오늘날 화폐 약 10실링으로 떨어진 듯하며, 16세기 초에는 그 수준으로 평가되었고 약 1570년까지 계속 그렇게 평가된 것으로 보인다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

First Period.—In 1350, and for some time before, the average price of the quarter of wheat in England seems not to have been estimated lower than four ounces of silver, Tower weight, equal to about twenty shillings of our present money. From this price it seems to have fallen gradually to two ounces of silver, equal to about ten shillings of our present money, the price at which we find it estimated in the beginning of the sixteenth century, and at which it seems to have continued to be estimated till about 1570.

WN-B01-C11-P097

한국어 번역

에드워드 3세 재위 25년인 1350년에는 이른바 노동자법이 제정되었다. 그 전문은 주인에게 임금을 올려 달라고 요구한 하인들의 오만을 크게 비난한다. 그래서 모든 하인과 노동자는 앞으로 왕 재위 20년과 그 이전 네 해 동안 받던 것과 같은 임금과 급식—당시 급식은 옷뿐 아니라 식량도 뜻했다—에 만족해야 하며, 급식으로 지급되는 밀은 어디에서도 한 부셸당 10펜스보다 높게 평가해서는 안 되고, 주인이 밀이나 돈 가운데 어느 쪽을 줄지는 언제나 주인의 선택으로 남겨 두도록 규정했다. 따라서 에드워드 3세 재위 25년 당시 부셸당 10펜스는 매우 적당한 밀 가격으로 여겨졌다. 하인에게 통상 식량급식 대신 그 가격을 받아들이도록 특별법까지 필요했기 때문이다. 그리고 10년 전인 왕 재위 16년에도 그것은 합리적인 가격으로 간주되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1350, being the 25th of Edward III. was enacted what is called the Statute of Labourers. In the preamble, it complains much of the insolence of servants, who endeavoured to raise their wages upon their masters. It therefore ordains, that all servants and labourers should, for the future, be contented with the same wages and liveries (liveries in those times signified not only clothes, but provisions) which they had been accustomed to receive in the 20th year of the king, and the four preceding years; that, upon this account, their livery-wheat should nowhere be estimated higher than tenpence a-bushel, and that it should always be in the option of the master to deliver them either the wheat or the money. Tenpence: a-bushel, therefore, had, in the 25th of Edward III. been reckoned a very moderate price of wheat, since it required a particular statute to oblige servants to accept of it in exchange for their usual livery of provisions; and it had been reckoned a reasonable price ten years before that, or in the 16th year of the king, the term to which the statute refers. But in the 16th year of Edward III. tenpence contained about half an ounce of silver, Tower weight, and was nearly equal to half-a-crown of our present money. Four ounces of silver, Tower weight, therefore, equal to six shillings and eightpence of the money of those times, and to near twenty shillings of that of the present, must have been reckoned a moderate price for the quarter of eight bushels.

WN-B01-C11-P098

한국어 번역

이 법은 특별히 비싸거나 쌌기 때문에 역사가와 다른 저자들이 기록한 몇몇 개별 연도의 가격보다, 당시 곡물의 적당한 가격으로 여겨진 것이 무엇인지 보여 주는 훨씬 나은 증거다. 그런 예외적인 연도의 가격으로는 보통가격을 판단하기 어렵다. 게다가 14세기 초와 그 이전 얼마 동안 밀의 통상가격이 한 쿼터당 은 4온스보다 낮지 않았고 다른 곡물 가격도 그에 비례했다는 점을 믿게 하는 다른 이유도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This statute is surely a better evidence of what was reckoned, in those times, a moderate price of grain, than the prices of some particular years, which have generally been recorded by historians and other writers, on account of their extraordinary dearness or cheapness, and from which, therefore, it is difficult to form any judgment concerning what may have been the ordinary price. There are, besides, other reasons for believing that, in the beginning of the fourteenth century, and for some time before, the common price of wheat was not less than four ounces of silver the quarter, and that of other grain in proportion.

WN-B01-C11-P099

한국어 번역

1309년 캔터베리 성 아우구스티누스 수도원의 원장 랠프 드 본은 취임일에 잔치를 열었고, 윌리엄 손은 그 차림표뿐 아니라 여러 품목의 가격도 남겼다. 그 잔치에서는 첫째, 밀 53쿼터가 소비되었고 값은 19파운드, 곧 쿼터당 7실링 2펜스로 오늘날 화폐 약 21실링 6펜스에 해당했다. 둘째, 맥아 58쿼터는 17파운드 10실링, 곧 쿼터당 6실링으로 오늘날 화폐 약 18실링에 해당했다. 셋째, 귀리 20쿼터는 4파운드, 곧 쿼터당 4실링으로 오늘날 화폐 약 12실링에 해당했다. 여기서는 밀 가격에 비해 맥아와 귀리 가격이 보통 비율보다 높은 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1309, Ralph de Born, prior of St Augustine’s, Canterbury, gave a feast upon his installation-day, of which William Thorn has preserved, not only the bill of fare, but the prices of many particulars. In that feast were consumed, 1st, fifty-three quarters of wheat, which cost nineteen pounds, or seven shillings, and twopence a-quarter, equal to about one-and-twenty shillings and sixpence of our present money; 2dly, fifty-eight quarters of malt, which cost seventeen pounds ten shillings, or six shillings a-quarter, equal to about eighteen shillings of our present money; 3dly, twenty quarters of oats, which cost four pounds, or four shillings a-quarter, equal to about twelve shillings of our present money. The prices of malt and oats seem here to be higher than their ordinary proportion to the price of wheat.

WN-B01-C11-P100

한국어 번역

이 가격들은 특별히 비싸거나 쌌기 때문에 기록된 것이 아니라, 성대함으로 유명했던 한 잔치에서 실제로 소비한 많은 양의 곡물에 지급한 가격으로 우연히 언급된 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

These prices are not recorded, on account of their extraordinary dearness or cheapness, but are mentioned accidentally, as the prices actually paid for large quantities of grain consumed at a feast, which was famous for its magnificence.

WN-B01-C11-P101

한국어 번역

헨리 3세 재위 51년인 1262년에는 빵과 맥주의 공정가격법이라 불린 오래된 법이 다시 시행되었다. 왕은 전문에서 그것이 선왕들 시대에 만들어졌다고 말한다. 그러므로 적어도 그의 할아버지 헨리 2세 시대만큼 오래되었고, 정복왕 시대까지 거슬러 올라갈 수도 있다. 이 법은 당시 화폐로 밀 한 쿼터 가격이 1실링에서 20실링일 때 빵 가격을 그에 맞추어 규정한다. 그러나 이런 종류의 법은 보통 중간가격에서 아래로 벗어나는 경우와 위로 벗어나는 경우를 똑같이 세심하게 다룬다고 보아야 한다. 그러므로 타워 중량 은 6온스를 포함하고 오늘날 화폐 약 30실링에 해당하는 10실링은 이 법이 처음 제정되었을 때 밀 한 쿼터의 중간가격으로 여겨졌고, 헨리 3세 재위 51년에도 계속 그렇게 여겨졌음이 틀림없다. 따라서 중간가격이 10실링보다 낮았다고 추정할 수 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1262, being the 51st of Henry III. was revived an ancient statute, called the assize of bread and ale, which, the king says in the preamble, had been made in the times of his progenitors, some time kings of England. It is probably, therefore, as old at least as the time of his grandfather, Henry II. and may have been as old as the Conquest. It regulates the price of bread according as the prices of wheat may happen to be, from one shilling to twenty shillings the quarter of the money of those times. But statutes of this kind are generally presumed to provide with equal care for all deviations from the middle price, for those below it, as well as for those above it. Ten shillings, therefore, containing six ounces of silver, Tower weight, and equal to about thirty shillings of our present money, must, upon this supposition, have been reckoned the middle price of the quarter of wheat when this statute was first enacted, and must have continued to be so in the 51st of Henry III. We cannot, therefore, be very wrong in supposing that the middle price was not less than one-third of the highest price at which this statute regulates the price of bread, or than six shillings and eightpence of the money of those times, containing four ounces of silver, Tower weight.

WN-B01-C11-P102

한국어 번역

이 여러 사실을 종합하면 14세기 중엽과 그 이전 상당 기간 동안 밀 한 쿼터의 평균 또는 통상가격은 타워 중량 은 4온스보다 낮게 여겨지지 않았다고 결론 내릴 어느 정도의 이유가 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From these different facts, therefore, we seem to have some reason to conclude that, about the middle of the fourteenth century, and for a considerable time before, the average or ordinary price of the quarter of wheat was not supposed to be less than four ounces of silver, Tower weight.

WN-B01-C11-P103

한국어 번역

14세기 중엽부터 16세기 초까지 합리적이고 적당한 가격, 곧 밀의 통상 또는 평균가격으로 여겨진 수준은 점차 그 절반 정도로 내려간 듯하다. 마침내 타워 중량 은 약 2온스, 곧 오늘날 화폐 약 10실링까지 떨어졌고, 약 1570년까지 그 가격으로 평가되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From about the middle of the fourteenth to the beginning of the sixteenth century, what was reckoned the reasonable and moderate, that is, the ordinary or average price of wheat, seems to have sunk gradually to about one half of this price; so as at last to have fallen to about two ounces of silver, Tower weight, equal to about ten shillings of our present money. It continued to be estimated at this price till about 1570.

WN-B01-C11-P104

한국어 번역

1512년에 작성된 노섬벌랜드 제5대 백작 헨리의 가계부에는 밀 가격을 서로 다르게 평가한 두 기록이 있다. 하나는 쿼터당 6실링 8펜스이고, 다른 하나는 5실링 8펜스에 불과하다. 1512년의 6실링 8펜스에는 타워 중량 은 2온스만 들어 있었으며, 오늘날 화폐 약 10실링과 같았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the household book of Henry, the fifth earl of Northumberland, drawn up in 1512 there are two different estimations of wheat. In one of them it is computed at six shilling and eightpence the quarter, in the other at five shillings and eightpence only. In 1512, six shillings and eightpence contained only two ounces of silver, Tower weight, and were equal to about ten shillings of our present money.

WN-B01-C11-P105

한국어 번역

에드워드 3세 재위 25년부터 엘리자베스 재위 초까지 200년이 넘는 동안, 여러 법령을 보면 6실링 8펜스가 이른바 적당하고 합리적인 가격, 곧 밀의 통상 또는 평균가격으로 계속 간주되었다. 그러나 그 기간 동안 같은 명목금액에 들어 있는 은의 양은 주화의 몇 차례 변경 때문에 계속 줄었다. 그럼에도 은 가치의 상승이 같은 명목금액에 들어 있는 은의 양 감소를 충분히 상쇄했기 때문에, 입법자는 이 사정을 특별히 고려할 필요가 없다고 본 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From the 25th of Edward III. to the beginning of the reign of Elizabeth, during the space of more than two hundred years, six shillings and eightpence, it appears from several different statutes, had continued to be considered as what is called the moderate and reasonable, that is, the ordinary or average price of wheat. The quantity of silver, however, contained in that nominal sum was, during the course of this period, continually diminishing in consequence of some alterations which were made in the coin. But the increase of the value of silver had, it seems, so far compensated the diminution of the quantity of it contained in the same nominal sum, that the legislature did not think it worth while to attend to this circumstance.

WN-B01-C11-P106

한국어 번역

그래서 1436년에는 밀 가격이 6실링 8펜스만큼 낮을 때에는 허가 없이 수출할 수 있다고 정했고, 1463년에는 쿼터당 가격이 6실링 8펜스를 넘지 않으면 밀을 수입하지 못하도록 정했다. 입법자는 가격이 그렇게 낮을 때에는 수출해도 불편이 없지만, 그보다 높아지면 수입을 허용하는 것이 현명하다고 생각했다. 그러므로 당시 오늘날 화폐 13실링 4펜스에 들어 있는 것과 거의 같은 양의 은을 포함한 6실링 8펜스는—에드워드 3세 시대의 같은 명목금액보다 은이 3분의 1 적었다—이른바 밀의 적당하고 합리적인 가격으로 여겨졌다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thus, in 1436, it was enacted, that wheat might be exported without a licence when the price was so low as six shillings and eightpence: and in 1463, it was enacted, that no wheat should be imported if the price was not above six shillings and eightpence the quarter: The legislature had imagined, that when the price was so low, there could be no inconveniency in exportation, but that when it rose higher, it became prudent to allow of importation. Six shillings and eightpence, therefore, containing about the same quantity of silver as thirteen shillings and fourpence of our present money (one-third part less than the same nominal sum contained in the time of Edward III), had, in those times, been considered as what is called the moderate and reasonable price of wheat.

WN-B01-C11-P107

한국어 번역

1554년 필리프와 메리 재위 1·2년 법과 1558년 엘리자베스 재위 1년 법은 같은 방식으로 밀 한 쿼터 가격이 6실링 8펜스를 넘으면 수출을 금지했다. 당시 이 금액에는 오늘날 같은 명목금액보다 은 2펜스어치 정도만 더 들어 있었다. 그러나 밀 가격이 이처럼 매우 낮을 때까지 수출을 제한하는 것은 실제로 수출을 전면 금지하는 것과 같다는 사실이 곧 드러났다. 그래서 1562년 엘리자베스 재위 5년 법은 쿼터당 가격이 10실링을 넘지 않으면 특정 항구에서 밀 수출을 허용했다. 그 10실링에는 오늘날 같은 명목금액과 거의 같은 양의 은이 들어 있었다. 그러므로 당시 이 가격이 이른바 적당하고 합리적인 밀 가격으로 간주되었다. 이는 1512년 노섬벌랜드 가계부의 평가와 거의 일치한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1554, by the 1st and 2nd of Philip and Mary, and in 1558, by the 1st of Elizabeth, the exportation of wheat was in the same manner prohibited, whenever the price of the quarter should exceed six shillings and eightpence, which did not then contain two penny worth more silver than the same nominal sum does at present. But it had soon been found, that to restrain the exportation of wheat till the price was so very low, was, in reality, to prohibit it altogether. In 1562, therefore, by the 5th of Elizabeth, the exportation of wheat was allowed from certain ports, whenever the price of the quarter should not exceed ten shillings, containing nearly the same quantity of silver as the like nominal sum does at present. This price had at this time, therefore, been considered as what is called the moderate and reasonable price of wheat. It agrees nearly with the estimation of the Northumberland book in 1512.

WN-B01-C11-P108

한국어 번역

프랑스에서도 15세기 말과 16세기 초의 평균 곡물가격이 그 이전 두 세기보다 훨씬 낮았다는 점은 뒤프레 드 생모르와 「곡물정책론」의 우아한 저자 모두가 지적했다. 같은 기간 곡물가격은 유럽 대부분에서도 아마 비슷하게 하락했을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

That in France the average price of grain was, in the same manner, much lower in the end of the fifteenth and beginning of the sixteenth century, than in the two centuries preceding, has been observed both by Mr Dupré de St Maur, and by the elegant author of the Essay on the Policy of Grain. Its price, during the same period, had probably sunk in the same manner through the greater part of Europe.

WN-B01-C11-P109

한국어 번역

곡물에 비한 은 가치의 이러한 상승은, 개량과 경작이 늘면서 은 수요가 증가한 반면 공급은 이전과 같았기 때문일 수도 있다. 또는 수요는 이전과 같았지만 당시 알려진 세계의 광산 대부분이 크게 고갈되어 채굴비가 많이 늘면서 공급이 점차 줄었기 때문일 수도 있다. 아니면 이 두 사정이 함께 작용했을 수도 있다. 15세기 말과 16세기 초 유럽 대부분은 그 이전 여러 시대보다 더 안정된 정부 형태로 나아가고 있었다. 안전의 증가는 자연히 산업과 개량을 늘렸고, 귀금속과 모든 사치품·장식품에 대한 수요도 부의 증가와 함께 자연히 늘어났을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This rise in the value of silver, in proportion to that of corn, may either have been owing altogether to the increase of the demand for that metal, in consequence of increasing improvement and cultivation, the supply, in the mean time, continuing the same as before; or, the demand continuing the same as before, it may have been owing altogether to the gradual diminution of the supply: the greater part of the mines which were then known in the world being much exhausted, and, consequently, the expense of working them much increased; or it may have been owing partly to the one, and partly to the other of those two circumstances. In the end of the fifteenth and beginning of the sixteenth centuries, the greater part of Europe was approaching towards a more settled form of government than it had enjoyed for several ages before. The increase of security would naturally increase industry and improvement; and the demand for the precious metals, as well as for every other luxury and ornament, would naturally increase with the increase of riches. A greater annual produce would require a greater quantity of coin to circulate it; and a greater number of rich people would require a greater quantity of plate and other ornaments of silver. It is natural to suppose, too, that the greater part of the mines which then supplied the European market with silver might be a good deal exhausted, and have become more expensive in the working. They had been wrought, many of them, from the time of the Romans.

WN-B01-C11-P110

한국어 번역

그러나 고대 상품가격을 다룬 저자 대부분은 노르만 정복 이후, 어쩌면 율리우스 카이사르의 침입 이후부터 아메리카 광산 발견 때까지 은 가치가 계속 하락했다고 보았다. 그들은 일부는 곡물과 토지 원생산물 일부의 가격을 관찰하면서, 일부는 모든 나라에서 부가 증가하면 은의 양도 자연히 늘고 그 양이 늘면 가치가 떨어진다는 통념 때문에 그런 생각에 이른 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It has been the opinion, however, of the greater part of those who have written upon the prices of commodities in ancient times, that, from the Conquest, perhaps from the invasion of Julius Caesar, till the discovery of the mines of America, the value of silver was continually diminishing. This opinion they seem to have been led into, partly by the observations which they had occasion to make upon the prices both of corn and of some other parts of the rude produce of land, and partly by the popular notion, that as the quantity of silver naturally increases in every country with the increase of wealth, so its value diminishes as it quantity increases.

WN-B01-C11-P111

한국어 번역

그들이 곡물가격을 관찰할 때에는 세 가지 서로 다른 사정이 자주 그들을 잘못 이끈 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In their observations upon the prices of corn, three different circumstances seem frequently to have misled them.

WN-B01-C11-P112

한국어 번역

첫째, 고대에는 거의 모든 지대를 일정량의 곡물·가축·가금류 같은 현물로 지급했다. 그러나 지주가 임차인에게 해마다 현물 또는 그 대신 일정액의 화폐 가운데 하나를 요구할 권리를 가지도록 약정하는 경우도 있었다. 이렇게 현물을 일정액의 화폐로 바꾸는 가격을 스코틀랜드에서는 환산가격이라고 한다. 현물과 가격 가운데 어느 것을 택할지는 언제나 지주에게 있으므로, 임차인의 안전을 위해 환산가격은 평균 시장가격보다 높기보다 낮아야 한다. 실제로 많은 곳에서 환산가격은 평균 시장가격의 절반을 조금 넘는 정도다. 스코틀랜드 대부분에서는 가금류에 대해, 몇몇 곳에서는 가축에 대해 이 관습이 아직도 계속된다. 공적인 피어스 제도가 끝내지 않았다면 곡물에도 계속 적용되었을 가능성이 크다. 고대 곡물가격을 수집한 저자들은 이 환산가격을 실제 시장가격으로 잘못 본 경우가 많았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

First, in ancient times, almost all rents were paid in kind; in a certain quantity of corn, cattle, poultry, etc. It sometimes happened, however, that the landlord would stipulate, that he should be at liberty to demand of the tenant, either the annual payment in kind or a certain sum of money instead of it. The price at which the payment in kind was in this manner exchanged for a certain sum of money, is in Scotland called the conversion price. As the option is always in the landlord to take either the substance or the price, it is necessary, for the safety of the tenant, that the conversion price should rather be below than above the average market price. In many places, accordingly, it is not much above one half of this price. Through the greater part of Scotland this custom still continues with regard to poultry, and in some places with regard to cattle. It might probably have continued to take place, too, with regard to corn, had not the institution of the public fiars put an end to it. These are annual valuations, according to the judgment of an assize, of the average price of all the different sorts of grain, and of all the different qualities of each, according to the actual market price in every different county. This institution rendered it sufficiently safe for the tenant, and much more convenient for the landlord, to convert, as they call it, the corn rent, rather at what should happen to be the price of the fiars of each year, than at any certain fixed price. But the writers who have collected the prices of corn in ancient times seem frequently to have mistaken what is called in Scotland the conversion price for the actual market price. Fleetwood acknowledges, upon one occasion, that he had made this mistake. As he wrote his book, however, for a particular purpose, he does not think proper to make this acknowledgment till after transcribing this conversion price fifteen times. The price is eight shillings the quarter of wheat. This sum in 1423, the year at which he begins with it, contained the same quantity of silver as sixteen shillings of our present money. But in 1562, the year at which he ends with it, it contained no more than the same nominal sum does at present.

WN-B01-C11-P113

한국어 번역

둘째, 게으른 필사자들이 고대 공정가격법을 엉성하게 옮겼고, 때로는 입법자 자신도 실제로 엉성하게 작성했기 때문에 그들은 잘못 판단했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Secondly, they have been misled by the slovenly manner in which some ancient statutes of assize had been sometimes transcribed by lazy copiers, and sometimes, perhaps, actually composed by the legislature.

WN-B01-C11-P114

한국어 번역

고대 공정가격법은 언제나 밀과 보리 가격이 가장 낮을 때 빵과 맥주 가격을 얼마로 해야 하는지 먼저 정하고, 두 곡물 가격이 그 최저가격보다 점차 오를 때마다 빵과 맥주 가격을 어떻게 정할지를 차례로 규정했던 듯하다. 그러나 필사자들은 흔히 처음 세네 개의 가장 낮은 가격까지만 규정을 옮겨도 충분하다고 생각했다. 그렇게 수고를 덜고, 더 높은 모든 가격에서도 지켜야 할 비율을 보여 주기에 충분하다고 판단했던 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The ancient statutes of assize seem to have begun always with determining what ought to be the price of bread and ale when the price of wheat and barley were at the lowest; and to have proceeded gradually to determine what it ought to be, according as the prices of those two sorts of grain should gradually rise above this lowest price. But the transcribers of those statutes seem frequently to have thought it sufficient to copy the regulation as far as the three or four first and lowest prices; saving in this manner their own labour, and judging, I suppose, that this was enough to show what proportion ought to be observed in all higher prices.

WN-B01-C11-P115

한국어 번역

그래서 헨리 3세 재위 51년의 빵과 맥주 공정가격법은 당시 화폐로 밀 한 쿼터 가격이 1실링에서 20실링까지일 때 빵 가격을 서로 다르게 규정했다. 그러나 러프헤드 판 이전의 모든 법령집이 인쇄된 원고에서 필사자들은 12실링 가격을 넘는 부분을 전혀 옮기지 않았다. 그 결과 몇몇 저자는 이 잘못된 필사에 속아, 한 쿼터당 6실링, 곧 오늘날 화폐 약 18실링이 당시 밀의 중간가격 또는 통상·평균가격이었다고 매우 자연스럽게 결론 내렸다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thus, in the assize of bread and ale, of the 51st of Henry III. the price of bread was regulated according to the different prices of wheat, from one shilling to twenty shillings the quarter of the money of those times. But in the manuscripts from which all the different editions of the statutes, preceding that of Mr Ruffhead, were printed, the copiers had never transcribed this regulation beyond the price of twelve shillings. Several writers, therefore, being misled by this faulty transcription, very naturally conclude that the middle price, or six shillings the quarter, equal to about eighteen shillings of our present money, was the ordinary or average price of wheat at that time.

WN-B01-C11-P116

한국어 번역

거의 같은 시기에 제정된 텀브럴과 칼레 법에서는 보리 한 쿼터 가격이 2실링에서 4실링까지 6펜스씩 오를 때마다 맥주 가격을 규정한다. 그러나 4실링이 당시 보리 가격이 흔히 오를 수 있는 최고가격으로 여겨진 것은 아니며, 이 가격들은 높든 낮든 다른 모든 가격에서 지켜야 할 비율을 보여 주는 예시에 지나지 않았다. 이는 법의 마지막 말 “Et sic deinceps crescetur vel diminuetur per sex denarios”에서 알 수 있다. 표현은 매우 엉성하지만 뜻은 분명하다. 보리 가격이 6펜스 오르거나 내릴 때마다 맥주 가격도 같은 방식으로 올리거나 내려야 한다는 것이다. 이 법을 작성할 때 입법자 자신도 다른 법을 옮긴 필사자들만큼 부주의했던 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the statute of Tumbrel and Pillory, enacted nearly about the same time, the price of ale is regulated according to every sixpence rise in the price of barley, from two shillings, to four shillings the quarter. That four shillings, however, was not considered as the highest price to which barley might frequently rise in those times, and that these prices were only given as an example of the proportion which ought to be observed in all other prices, whether higher or lower, we may infer from the last words of the statute: “Et sic deinceps crescetur vel diminuetur per sex denarios.” The expression is very slovenly, but the meaning is plain enough, “that the price of ale is in this manner to be increased or diminished according to every sixpence rise or fall in the price of barley.” In the composition of this statute, the legislature itself seems to have been as negligent as the copiers were in the transcription of the other.

WN-B01-C11-P117

한국어 번역

옛 스코틀랜드 법전인 「레기암 마제스타템」의 고대 원고에는 밀 가격이 스코틀랜드식 볼당 10펜스에서 3실링까지일 때 빵 가격을 규정한 공정가격법이 있다. 스코틀랜드식 볼은 잉글랜드식 쿼터의 약 절반이다. 이 법이 제정된 것으로 추정되는 당시 스코틀랜드 3실링은 오늘날 영국 화폐 약 9실링과 같았다. 러디먼은 여기서 3실링이 당시 밀이 오를 수 있었던 최고가격이고, 10펜스·1실링 또는 많아야 2실링이 통상가격이었다고 결론 내린 듯하다. 그러나 원고를 살펴보면 이 가격들은 밀과 빵의 각 가격 사이에 지켜야 할 비율의 예시에 지나지 않음이 분명하다. 법의 마지막 말은 “reliqua judicabis secundum praescripta, habendo respectum ad pretium bladi”인데, 이는 나머지는 위 규정에 따라 곡물가격을 고려하여 판단하라는 뜻이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In an ancient manuscript of the Regiam Majestatem, an old Scotch law book, there is a statute of assize, in which the price of bread is regulated according to all the different prices of wheat, from tenpence to three shillings the Scotch boll, equal to about half an English quarter. Three shillings Scotch, at the time when this assize is supposed to have been enacted, were equal to about nine shillings sterling of our present money. Mr Ruddiman seems {See his Preface to Anderson’s Diplomata Scotiae.} to conclude from this, that three shillings was the highest price to which wheat ever rose in those times, and that tenpence, a shilling, or at most two shillings, were the ordinary prices. Upon consulting the manuscript, however, it appears evidently, that all these prices are only set down as examples of the proportion which ought to be observed between the respective prices of wheat and bread. The last words of the statute are “reliqua judicabis secundum praescripta, habendo respectum ad pretium bladi.”—“You shall judge of the remaining cases, according to what is above written, having respect to the price of corn.”

WN-B01-C11-P118

한국어 번역

셋째, 그들은 매우 오래된 시대에 밀이 때때로 매우 낮은 가격에 팔렸다는 사실에도 잘못 이끌렸다. 최저가격이 후대보다 훨씬 낮았으므로 통상가격도 훨씬 낮았을 것이라고 생각했다. 그러나 그 고대에는 최고가격도 후대에 알려진 어떤 가격보다 훨씬 높았다는 사실을 확인할 수 있었을 것이다. 예를 들어 1270년에 플리트우드는 밀 한 쿼터의 두 가격을 기록했다. 하나는 당시 화폐 4파운드 16실링으로 오늘날 14파운드 8실링에 해당하고, 다른 하나는 6파운드 8실링으로 오늘날 19파운드 4실링에 해당한다. 15세기 말이나 16세기 초에는 이런 터무니없는 가격에 가까운 사례를 찾을 수 없다. 곡물가격은 언제나 변동하지만, 무질서한 시대에는 가장 심하게 변한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thirdly, they seem to have been misled too, by the very low price at which wheat was sometimes sold in very ancient times; and to have imagined, that as its lowest price was then much lower than in later times its ordinary price must likewise have been much lower. They might have found, however, that in those ancient times its highest price was fully as much above, as its lowest price was below any thing that had ever been known in later times. Thus, in 1270, Fleetwood gives us two prices of the quarter of wheat. The one is four pounds sixteen shillings of the money of those times, equal to fourteen pounds eight shillings of that of the present; the other is six pounds eight shillings, equal to nineteen pounds four shillings of our present money. No price can be found in the end of the fifteenth, or beginning of the sixteenth century, which approaches to the extravagance of these. The price of corn, though at all times liable to variation varies most in those turbulent and disorderly societies, in which the interruption of all commerce and communication hinders the plenty of one part of the country from relieving the scarcity of another. In the disorderly state of England under the Plantagenets, who governed it from about the middle of the twelfth till towards the end of the fifteenth century, one district might be in plenty, while another, at no great distance, by having its crop destroyed, either by some accident of the seasons, or by the incursion of some neighbouring baron, might be suffering all the horrors of a famine; and yet if the lands of some hostile lord were interposed between them, the one might not be able to give the least assistance to the other. Under the vigorous administration of the Tudors, who governed England during the latter part of the fifteenth, and through the whole of the sixteenth century, no baron was powerful enough to dare to disturb the public security.

WN-B01-C11-P119

한국어 번역

독자는 이 장 끝에서 플리트우드가 1202년부터 1597년까지 수집한 모든 밀 가격을 오늘날 화폐로 환산하고, 시간순으로 각각 12년씩 일곱 구간으로 정리한 표를 볼 수 있다. 각 구간 끝에는 그 12년의 평균가격도 제시되어 있다. 이 긴 기간에 플리트우드는 80개 연도의 가격만 수집할 수 있었으므로 마지막 12년을 채우려면 네 해가 부족하다. 그래서 나는 이튼 칼리지 장부에서 1598년·1599년·1600년·1601년 가격을 더했다. 이것이 내가 추가한 유일한 자료다. 독자는 13세기 초부터 16세기 중엽 이후까지 각 12년 평균가격이 점차 낮아지고, 16세기 말에 다시 오르기 시작하는 것을 볼 것이다. 다만 플리트우드가 수집한 가격은 특별히 비싸거나 싼 해의 기록이 많아 완전한 평균이라 할 수는 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The reader will find at the end of this chapter all the prices of wheat which have been collected by Fleetwood, from 1202 to 1597, both inclusive, reduced to the money of the present times, and digested, according to the order of time, into seven divisions of twelve years each. At the end of each division, too, he will find the average price of the twelve years of which it consists. In that long period of time, Fleetwood has been able to collect the prices of no more than eighty years; so that four years are wanting to make out the last twelve years. I have added, therefore, from the accounts of Eton college, the prices of 1598, 1599, 1600, and 1601. It is the only addition which I have made. The reader will see, that from the beginning of the thirteenth till after the middle of the sixteenth century, the average price of each twelve years grows gradually lower and lower; and that towards the end of the sixteenth century it begins to rise again. The prices, indeed, which Fleetwood has been able to collect, seem to have been those chiefly which were remarkable for extraordinary dearness or cheapness; and I do not pretend that any very certain conclusion can be drawn from them. So far, however, as they prove any thing at all, they confirm the account which I have been endeavouring to give. Fleetwood himself, however, seems, with most other writers, to have believed, that, during all this period, the value of silver, in consequence of its increasing abundance, was continually diminishing. The prices of corn, which he himself has collected, certainly do not agree with this opinion. They agree perfectly with that of Mr Dupré de St Maur, and with that which I have been endeavouring to explain. Bishop Fleetwood and Mr Dupré de St Maur are the two authors who seem to have collected, with the greatest diligence and fidelity, the prices of things in ancient times. It is somewhat curious that, though their opinions are so very different, their facts, so far as they relate to the price of corn at least, should coincide so very exactly.

WN-B01-C11-P120

한국어 번역

그러나 가장 분별 있는 저자들이 그 매우 오래된 시대에 은 가치가 높았다고 추론한 근거는 곡물의 낮은 가격이라기보다 토지 원생산물의 다른 부분이 낮은 가격에 팔렸다는 사실이었다. 곡물은 일종의 제조품이어서 그 거친 시대에는 다른 대부분의 상품보다 상대적으로 비쌌다고들 한다. 여기서 다른 상품이란 가축·가금류·온갖 사냥감 같은 대부분의 비가공 상품을 뜻하는 듯하다. 빈곤하고 야만적인 시대에 이런 상품이 곡물보다 상대적으로 훨씬 쌌다는 것은 틀림없다. 그러나 그것은 은 가치가 높아서가 아니라 그 상품들의 가치가 낮았기 때문이다. 당시 은이 더 많은 노동을 구매하거나 나타냈기 때문이 아니라, 그러한 상품이 더 부유하고 개량된 시대보다 훨씬 적은 노동을 구매하거나 나타냈기 때문이다. 스페인령 아메리카에서 은은 유럽보다 확실히 더 싸지만, 가축·가금류·사냥감은 유럽보다 훨씬 더 싸다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is not, however, so much from the low price of corn, as from that of some other parts of the rude produce of land, that the most judicious writers have inferred the great value of silver in those very ancient times. Corn, it has been said, being a sort of manufacture, was, in those rude ages, much dearer in proportion than the greater part of other commodities; it is meant, I suppose, than the greater part of unmanufactured commodities, such as cattle, poultry, game of all kinds, etc. That in those times of poverty and barbarism these were proportionably much cheaper than corn, is undoubtedly true. But this cheapness was not the effect of the high value of silver, but of the low value of those commodities. It was not because silver would in such times purchase or represent a greater quantity of labour, but because such commodities would purchase or represent a much smaller quantity than in times of more opulence and improvement. Silver must certainly be cheaper in Spanish America than in Europe; in the country where it is produced, than in the country to which it is brought, at the expense of a long carriage both by land and by sea, of a freight, and an insurance. One-and-twenty pence halfpenny sterling, however, we are told by Ulloa, was, not many years ago, at Buenos Ayres, the price of an ox chosen from a herd of three or four hundred. Sixteen shillings sterling, we are told by Mr Byron, was the price of a good horse in the capital of Chili. In a country naturally fertile, but of which the far greater part is altogether uncultivated, cattle, poultry, game of all kinds, etc. as they can be acquired with a very small quantity of labour, so they will purchase or command but a very small quantity. The low money price for which they may be sold, is no proof that the real value of silver is there very high, but that the real value of those commodities is very low.

WN-B01-C11-P121

한국어 번역

항상 기억해야 할 것은 은과 그 밖의 모든 상품의 가치에 대한 진정한 척도는 어떤 특정 상품이나 상품 묶음이 아니라 노동이라는 점이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Labour, it must always be remembered, and not any particular commodity, or set of commodities, is the real measure of the value both of silver and of all other commodities.

WN-B01-C11-P122

한국어 번역

거의 황폐하거나 인구가 드문 나라에서는 소·가금·온갖 사냥감 등이 자연의 자생적 생산물이어서, 자연이 주민이 소비할 수 있는 양보다 훨씬 많이 생산하는 경우가 흔하다. 그런 상태에서는 공급이 습관적으로 수요를 초과하므로 이 생산물은 노동을 거의 사지 못하고, 따라서 거의 아무 가치도 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But in countries almost waste, or but thinly inhabited, cattle, poultry, game of all kinds, etc. as they are the spontaneous productions of Nature, so she frequently produces them in much greater quantities than the consumption of the inhabitants requires. In such a state of things, the supply commonly exceeds the demand. In different states of society, in different states of improvement, therefore, such commodities will represent, or be equivalent, to very different quantities of labour.

WN-B01-C11-P123

한국어 번역

모든 사회 상태와 발전 단계에서 곡물은 인간 산업의 생산물이다. 그러나 모든 종류 산업의 평균 생산량은 언제나 그 평균 소비에 어느 정도 맞추어진다. 즉 평균 공급은 평균 수요에 맞추어진다. 게다가 같은 정도의 토지와 기후에서 같은 양의 노동은 거의 언제나 같은 양의 곡물을 생산하지만, 가축·가금·사냥감은 사회의 발전 단계에 따라 같은 양의 노동이 매우 다른 양을 생산할 수 있다. 따라서 곡물은 어느 시대에나 그런 상품보다 더 일정한 양의 노동과 교환될 가능성이 크다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In every state of society, in every stage of improvement, corn is the production of human industry. But the average produce of every sort of industry is always suited, more or less exactly, to the average consumption; the average supply to the average demand. In every different stage of improvement, besides, the raising of equal quantities of corn in the same soil and climate, will, at an average, require nearly equal quantities of labour; or, what comes to the same thing, the price of nearly equal quantities; the continual increase of the productive powers of labour, in an improved state of cultivation, being more or less counterbalanced by the continual increasing price of cattle, the principal instruments of agriculture. Upon all these accounts, therefore, we may rest assured, that equal quantities of corn will, in every state of society, in every stage of improvement, more nearly represent, or be equivalent to, equal quantities of labour, than equal quantities of any other part of the rude produce of land. Corn, accordingly, it has already been observed, is, in all the different stages of wealth and improvement, a more accurate measure of value than any other commodity or set of commodities. In all those different stages, therefore, we can judge better of the real value of silver, by comparing it with corn, than by comparing it with any other commodity or set of commodities.

WN-B01-C11-P124

한국어 번역

또 곡물, 또는 그 나라 사람들이 통상 가장 좋아하는 식물성 식량은 모든 문명국에서 노동자의 생계 가운데 가장 큰 부분을 이룬다. 분업의 결과 노동자는 대체로 자신에게 필요한 다른 물건보다 곡물 구매에 더 많이 의존한다. 그러므로 곡물이 구매할 수 있는 노동량은 다른 어떤 상품보다 그 실질가치를 더 잘 보여 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Corn, besides, or whatever else is the common and favourite vegetable food of the people, constitutes, in every civilized country, the principal part of the subsistence of the labourer. In consequence of the extension of agriculture, the land of every country produces a much greater quantity of vegetable than of animal food, and the labourer everywhere lives chiefly upon the wholesome food that is cheapest and most abundant. Butcher’s meat, except in the most thriving countries, or where labour is most highly rewarded, makes but an insignificant part of his subsistence; poultry makes a still smaller part of it, and game no part of it. In France, and even in Scotland, where labour is somewhat better rewarded than in France, the labouring poor seldom eat butcher’s meat, except upon holidays, and other extraordinary occasions. The money price of labour, therefore, depends much more upon the average money price of corn, the subsistence of the labourer, than upon that of butcher’s meat, or of any other part of the rude produce of land. The real value of gold and silver, therefore, the real quantity of labour which they can purchase or command, depends much more upon the quantity of corn which they can purchase or command, than upon that of butcher’s meat, or any other part of the rude produce of land.

WN-B01-C11-P125

한국어 번역

그러나 곡물이나 다른 상품 가격에 관한 이런 가벼운 관찰만으로 그토록 많은 총명한 저자가 잘못된 결론에 이르지는 않았을 것이다. 그들은 부가 증가하는 나라에서는 은의 양도 자연히 늘고, 은의 양이 늘면 그 가치가 반드시 떨어진다는 통념의 영향을 받았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Such slight observations, however, upon the prices either of corn or of other commodities, would not probably have misled so many intelligent authors, had they not been influenced at the same time by the popular notion, that as the quantity of silver naturally increases in every country with the increase of wealth, so its value diminishes as its quantity increases. This notion, however, seems to be altogether groundless.

WN-B01-C11-P126

한국어 번역

한 나라의 귀금속 양은 두 가지 다른 원인으로 증가할 수 있다. 첫째, 그것을 공급하는 광산이 더 풍부해졌기 때문이고, 둘째, 그 나라의 부와 산업이 증가했기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The quantity of the precious metals may increase in any country from two different causes; either, first, from the increased abundance of the mines which supply it; or, secondly, from the increased wealth of the people, from the increased produce of their annual labour. The first of these causes is no doubt necessarily connected with the diminution of the value of the precious metals; but the second is not.

WN-B01-C11-P127

한국어 번역

더 풍부한 광산이 발견되면 더 많은 귀금속이 시장에 나오며, 그 금속과 교환되는 생활 필수품과 편의품의 양은 같거나 그만큼 늘지 않는다. 그러므로 같은 양의 금속은 이전보다 적은 상품을 구매하며, 금속의 가치는 하락한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

When more abundant mines are discovered, a greater quantity of the precious metals is brought to market; and the quantity of the necessaries and conveniencies of life for which they must be exchanged being the same as before, equal quantities of the metals must be exchanged for smaller quantities of commodities. So far, therefore, as the increase of the quantity of the precious metals in any country arises from the increased abundance of the mines, it is necessarily connected with some diminution of their value.

WN-B01-C11-P128

한국어 번역

반대로 한 나라의 부가 증가하고 연간 노동 생산물이 점차 커지면, 더 많은 상품을 유통하기 위해 더 많은 주화가 필요하고, 사람들은 그 주화를 살 능력이 더 커진다. 또한 허영과 과시 때문에, 또는 훌륭한 조각·그림·그 밖의 사치품과 진귀품이 늘어나는 것과 같은 이유로 은식기의 양도 자연히 늘어난다. 번영기에 조각가와 화가의 보수가 빈곤기에 비해 낮아지지 않듯이, 금과 은의 가격도 낮아지기 어렵다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

When, on the contrary, the wealth of any country increases, when the annual produce of its labour becomes gradually greater and greater, a greater quantity of coin becomes necessary in order to circulate a greater quantity of commodities: and the people, as they can afford it, as they have more commodities to give for it, will naturally purchase a greater and a greater quantity of plate. The quantity of their coin will increase from necessity; the quantity of their plate from vanity and ostentation, or from the same reason that the quantity of fine statues, pictures, and of every other luxury and curiosity, is likely to increase among them. But as statuaries and painters are not likely to be worse rewarded in times of wealth and prosperity, than in times of poverty and depression, so gold and silver are not likely to be worse paid for.

WN-B01-C11-P129

한국어 번역

더 풍부한 광산의 우연한 발견이 가격을 억누르지 않는다면, 금과 은의 가격은 어느 나라에서나 부가 늘수록 자연스럽게 오른다. 광산 상태가 어떻든 금과 은은 언제나 가난한 나라보다 부유한 나라에서 자연스럽게 더 비싸다. 금과 은도 다른 상품처럼 가장 높은 가격을 받을 수 있는 시장을 찾고, 가장 좋은 가격은 대체로 그 값을 가장 잘 감당할 수 있는 나라에서 지급된다. 모든 물건에 최종적으로 지급되는 가격은 노동이며, 노동 보수가 같은 나라끼리라면 노동의 화폐가격은 노동자 생계비에 비례한다. 그러나 금과 은은 가난한 나라보다 부유한 나라, 식량이 부족한 나라보다 풍부한 나라에서 더 많은 생계수단과 교환될 것이다. 두 나라가 멀리 떨어져 있으면 금속을 충분히 운반해 가격을 거의 같게 만들기 어려워 차이가 매우 클 수 있다. 가까이 있으면 운송이 쉬워 차이가 작고 때로 거의 눈에 띄지 않는다. 중국은 유럽 어느 지역보다 부유하며 중국과 유럽의 생계비 차이는 매우 크다. 중국의 쌀은 유럽 어디의 밀보다 훨씬 싸다. 잉글랜드는 스코틀랜드보다 훨씬 부유하지만 두 나라의 곡물 화폐가격 차이는 훨씬 작고 겨우 알아볼 정도다. 부피로 보면 스코틀랜드 곡물이 영국 곡물보다 상당히 싸 보이지만 품질에 비례하면 오히려 다소 비싸다. 스코틀랜드는 거의 매년 잉글랜드에서 많은 곡물을 공급받고, 상품은 보통 들여오는 나라에서 내보내는 나라보다 비싸야 한다. 따라서 영국 곡물은 스코틀랜드에서 잉글랜드보다 비싸야 하지만, 품질이나 그 곡물에서 나오는 밀가루·곡분의 양과 질에 비례하면 경쟁하는 스코틀랜드 곡물보다 더 비싸게 팔릴 수는 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of gold and silver, when the accidental discovery of more abundant mines does not keep it down, as it naturally rises with the wealth of every country, so, whatever be the state of the mines, it is at all times naturally higher in a rich than in a poor country. Gold and silver, like all other commodities, naturally seek the market where the best price is given for them, and the best price is commonly given for every thing in the country which can best afford it. Labour, it must be remembered, is the ultimate price which is paid for every thing; and in countries where labour is equally well rewarded, the money price of labour will be in proportion to that of the subsistence of the labourer. But gold and silver will naturally exchange for a greater quantity of subsistence in a rich than in a poor country; in a country which abounds with subsistence, than in one which is but indifferently supplied with it. If the two countries are at a great distance, the difference may be very great; because, though the metals naturally fly from the worse to the better market, yet it may be difficult to transport them in such quantities as to bring their price nearly to a level in both. If the countries are near, the difference will be smaller, and may sometimes be scarce perceptible; because in this case the transportation will be easy. China is a much richer country than any part of Europe, and the difference between the price of subsistence in China and in Europe is very great. Rice in China is much cheaper than wheat is any where in Europe. England is a much richer country than Scotland, but the difference between the money price of corn in those two countries is much smaller, and is but just perceptible. In proportion to the quantity or measure, Scotch corn generally appears to be a good deal cheaper than English; but, in proportion to its quality, it is certainly somewhat dearer. Scotland receives almost every year very large supplies from England, and every commodity must commonly be somewhat dearer in the country to which it is brought than in that from which it comes. English corn, therefore, must be dearer in Scotland than in England; and yet in proportion to its quality, or to the quantity and goodness of the flour or meal which can be made from it, it cannot commonly be sold higher there than the Scotch corn which comes to market in competition with it.

WN-B01-C11-P130

한국어 번역

중국과 유럽의 노동 화폐가격 차이는 생계비 차이보다도 더 크다. 유럽 대부분은 발전하고 있지만 중국은 정체된 듯하므로 노동의 실질 보수는 유럽이 더 높기 때문이다. 스코틀랜드의 노동 화폐가격은 잉글랜드보다 낮은데, 스코틀랜드가 더 부유해지고 있기는 하지만 잉글랜드보다 훨씬 느리게 발전하므로 노동의 실질 보수도 훨씬 낮기 때문이다. 스코틀랜드에서의 잦은 이주와 잉글랜드에서의 드문 이주는 두 나라의 노동 수요가 매우 다름을 충분히 보여 준다. 서로 다른 나라의 노동 실질 보수 비율은 현재의 부유함이나 빈곤이 아니라 발전·정체·쇠퇴 상태에 의해 자연스럽게 조절된다는 점을 기억해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The difference between the money price of labour in China and in Europe, is still greater than that between the money price of subsistence; because the real recompence of labour is higher in Europe than in China, the greater part of Europe being in an improving state, while China seems to be standing still. The money price of labour is lower in Scotland than in England, because the real recompence of labour is much lower: Scotland, though advancing to greater wealth, advances much more slowly than England. The frequency of emigration from Scotland, and the rarity of it from England, sufficiently prove that the demand for labour is very different in the two countries. The proportion between the real recompence of labour in different countries, it must be remembered, is naturally regulated, not by their actual wealth or poverty, but by their advancing, stationary, or declining condition.

WN-B01-C11-P131

한국어 번역

금과 은은 가장 부유한 국민 사이에서 자연스럽게 가장 큰 가치를 지니고, 가장 가난한 국민 사이에서는 가장 작은 가치를 지닌다. 모든 국민 가운데 가장 가난한 야만인 사이에서는 거의 아무 가치도 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Gold and silver, as they are naturally of the greatest value among the richest, so they are naturally of the least value among the poorest nations. Among savages, the poorest of all nations, they are scarce of any value.

WN-B01-C11-P132

한국어 번역

대도시에서는 곡물이 언제나 외딴 지방보다 비싸다. 그러나 이것은 은이 실제로 싸서가 아니라 곡물이 실제로 비싸서 생긴다. 은을 대도시로 운반하는 데 외딴 지방보다 적은 노동이 드는 것은 아니지만, 곡물을 대도시로 운반하는 데에는 훨씬 더 많은 노동이 든다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In great towns, corn is always dearer than in remote parts of the country. This, however, is the effect, not of the real cheapness of silver, but of the real dearness of corn. It does not cost less labour to bring silver to the great town than to the remote parts of the country; but it costs a great deal more to bring corn.

WN-B01-C11-P133

한국어 번역

네덜란드와 제노바 영토처럼 매우 부유하고 상업적인 몇몇 나라에서 곡물이 비싼 것도 대도시에서 비싼 것과 같은 이유다. 그들은 주민을 먹일 만큼 충분한 곡물을 생산하지 못한다. 장인과 제조업자의 산업과 숙련, 노동을 줄이고 쉽게 하는 온갖 기계, 선박과 그 밖의 모든 운송·상업 수단에서는 부유하지만 곡물은 부족하다. 곡물은 먼 나라에서 가져와야 하므로 그 운송비가 가격에 더해진다. 은을 암스테르담으로 가져오는 비용이 단치히보다 적지는 않지만, 곡물을 가져오는 비용은 훨씬 더 크다. 은의 실질비용은 두 곳에서 거의 같지만 곡물의 실질비용은 매우 다르다. 인구가 같은 상태에서 네덜란드나 제노바의 실질적 부와 먼 나라에서 식량을 조달할 능력이 줄어들면, 은의 양 감소와 함께 곡물 가격이 내려가는 대신 기근 가격까지 오를 것이다. 필수품이 부족할 때 사람은 모든 잉여품을 내놓아야 한다. 사치품의 가치는 번영기에 오르고 빈곤기에 내리지만 필수품은 반대다. 필수품의 실질가격, 곧 그것이 구매하거나 지배할 수 있는 노동량은 빈곤과 곤궁의 시기에 오르고, 풍요의 시기에는 내린다. 곡물은 필수품이지만 은은 잉여품일 뿐이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In some very rich and commercial countries, such as Holland and the territory of Genoa, corn is dear for the same reason that it is dear in great towns. They do not produce enough to maintain their inhabitants. They are rich in the industry and skill of their artificers and manufacturers, in every sort of machinery which can facilitate and abridge labour; in shipping, and in all the other instruments and means of carriage and commerce: but they are poor in corn, which, as it must be brought to them from distant countries, must, by an addition to its price, pay for the carriage from those countries. It does not cost less labour to bring silver to Amsterdam than to Dantzic; but it costs a great deal more to bring corn. The real cost of silver must be nearly the same in both places; but that of corn must be very different. Diminish the real opulence either of Holland or of the territory of Genoa, while the number of their inhabitants remains the same; diminish their power of supplying themselves from distant countries; and the price of corn, instead of sinking with that diminution in the quantity of their silver, which must necessarily accompany this declension, either as its cause or as its effect, will rise to the price of a famine. When we are in want of necessaries, we must part with all superfluities, of which the value, as it rises in times of opulence and prosperity, so it sinks in times of poverty and distress. It is otherwise with necessaries. Their real price, the quantity of labour which they can purchase or command, rises in times of poverty and distress, and sinks in times of opulence and prosperity, which are always times of great abundance; for they could not otherwise be times of opulence and prosperity. Corn is a necessary, silver is only a superfluity.

WN-B01-C11-P134

한국어 번역

그러므로 14세기 중엽부터 16세기 중엽까지 부와 개량의 증가로 귀금속 양이 늘었다 해도, 그것이 대브리튼이나 유럽 다른 지역에서 귀금속의 가치를 낮추는 경향은 없었다. 따라서 고대 상품가격을 수집한 사람들이 이 시기에 곡물이나 다른 상품 가격을 관찰하여 은 가치 하락을 추론할 이유가 없었다면, 부와 개량의 증가를 가정하여 그런 결론을 낼 이유는 더더욱 없었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Whatever, therefore, may have been the increase in the quantity of the precious metals, which, during the period between the middle of the fourteenth and that of the sixteenth century, arose from the increase of wealth and improvement, it could have no tendency to diminish their value, either in Great Britain, or in my other part of Europe. If those who have collected the prices of things in ancient times, therefore, had, during this period, no reason to infer the diminution of the value of silver from any observations which they had made upon the prices either of corn, or of other commodities, they had still less reason to infer it from any supposed increase of wealth and improvement.

WN-B01-C11-P135

한국어 번역

제2기. 첫 번째 시기의 은 가치 변화에 대해 학자들의 견해가 아무리 달랐더라도 두 번째 시기에 대해서는 모두 의견이 일치한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Second Period.—But how various soever may have been the opinions of the learned concerning the progress of the value of silver during the first period, they are unanimous concerning it during the second.

WN-B01-C11-P136

한국어 번역

약 1570년부터 약 1640년까지 약 70년 동안 은과 곡물 가치의 비율은 이전과 정반대 방향으로 움직였다. 은은 실질가치가 떨어져 이전보다 적은 노동과 교환되었고, 곡물은 명목가격이 올라 한 쿼터가 보통 은 약 2온스, 곧 오늘날 화폐 약 10실링에 팔리던 것이 은 6~8온스, 곧 오늘날 화폐 약 30~40실링에 팔리게 되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From about 1570 to about 1640, during a period of about seventy years, the variation in the proportion between the value of silver and that of corn held a quite opposite course. Silver sunk in its real value, or would exchange for a smaller quantity of labour than before; and corn rose in its nominal price, and, instead of being commonly sold for about two ounces of silver the quarter, or about ten shillings of our present money, came to be sold for six and eight ounces of silver the quarter, or about thirty and forty shillings of our present money.

WN-B01-C11-P137

한국어 번역

아메리카의 풍부한 광산 발견이 곡물에 비한 은 가치 하락의 유일한 원인이었던 듯하다. 모두가 같은 방식으로 설명했고 사실이나 원인에 관해 논쟁도 없었다. 이 기간 유럽 대부분은 산업과 개량이 발전하여 은 수요도 늘었을 것이지만 공급 증가가 수요 증가를 훨씬 넘어 은 가치가 크게 떨어졌다. 아메리카 광산 발견은 포토시 광산이 발견된 지 20년이 넘었는데도 1570년 이후까지 잉글랜드의 물가에 뚜렷한 영향을 주지 못한 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The discovery of the abundant mines of America seems to have been the sole cause of this diminution in the value of silver, in proportion to that of corn. It is accounted for, accordingly, in the same manner by every body; and there never has been any dispute, either about the fact, or about the cause of it. The greater part of Europe was, during this period, advancing in industry and improvement, and the demand for silver must consequently have been increasing; but the increase of the supply had, it seems, so far exceeded that of the demand, that the value of that metal sunk considerably. The discovery of the mines of America, it is to be observed, does not seem to have had any very sensible effect upon the prices of things in England till after 1570; though even the mines of Potosi had been discovered more than twenty years before.

WN-B01-C11-P138

한국어 번역

1595년부터 1620년까지 이튼 칼리지 장부에 따르면 윈저 시장에서 가장 좋은 밀 9부셸 한 쿼터의 평균가격은 2파운드 1실링 6과 13분의 9펜스였다. 분수를 무시하고 9분의 1인 4실링 7과 3분의 1펜스를 빼면 8부셸 한 쿼터 가격은 1파운드 16실링 10과 3분의 2펜스가 된다. 여기서 다시 분수를 무시하고 가장 좋은 밀과 중간 품질 밀의 가격 차이인 9분의 1, 곧 4실링 1과 9분의 1펜스를 빼면 중간 품질 밀 가격은 약 1파운드 12실링 8과 9분의 8펜스, 곧 은 약 6과 3분의 1온스가 된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From 1595 to 1620, both inclusive, the average price of the quarter of nine bushels of the best wheat, at Windsor market, appears, from the accounts of Eton college, to have been £ 2:1:6 9/13. From which sum, neglecting the fraction, and deducting a ninth, or 4s. 7 1/3d., the price of the quarter of eight bushels comes out to have been £ 1:16:10 2/3. And from this sum, neglecting likewise the fraction, and deducting a ninth, or 4s. 1 1/9d., for the difference between the price of the best wheat and that of the middle wheat, the price of the middle wheat comes out to have been about £ 1:12:8 8/9, or about six ounces and one-third of an ounce of silver.

WN-B01-C11-P139

한국어 번역

1621년부터 1636년까지 같은 시장의 같은 양의 가장 좋은 밀 평균가격은 같은 장부에 따르면 2파운드 10실링이었다. 앞과 같은 공제를 하면 중간 품질 밀 8부셸 한 쿼터의 평균가격은 1파운드 19실링 6펜스, 곧 은 약 7과 3분의 2온스가 된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From 1621 to 1636, both inclusive, the average price of the same measure of the best wheat, at the same market, appears, from the same accounts, to have been £ 2:10s.; from which, making the like deductions as in the foregoing case, the average price of the quarter of eight bushels of middle wheat comes out to have been £ 1:19:6, or about seven ounces and two-thirds of an ounce of silver.

WN-B01-C11-P140

한국어 번역

제3기. 1630년과 1640년 사이, 또는 약 1636년 무렵에는 아메리카 광산 발견이 은 가치를 낮춘 효과가 완전히 나타난 듯하며, 곡물에 비한 은 가치는 그때보다 더 낮아진 적이 없는 듯하다. 그 뒤 현 세기 동안 다소 올랐고, 아마 지난 세기 말 이전부터 이미 상승하기 시작했을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Third Period.—Between 1630 and 1640, or about 1636, the effect of the discovery of the mines of America, in reducing the value of silver, appears to have been completed, and the value of that metal seems never to have sunk lower in proportion to that of corn than it was about that time. It seems to have risen somewhat in the course of the present century, and it had probably begun to do so, even some time before the end of the last.

WN-B01-C11-P141

한국어 번역

1637년부터 1700년까지 지난 세기의 마지막 64년 동안 같은 장부에 따르면 윈저 시장에서 가장 좋은 밀 9부셸 한 쿼터의 평균가격은 2파운드 11실링 0과 3분의 1펜스로, 직전 16년보다 겨우 1실링 0과 3분의 1펜스 비쌌다. 그러나 이 64년 동안 계절의 통상적 흐름만으로 생겼을 것보다 훨씬 큰 곡물 부족을 낳았을 두 사건이 있었다. 따라서 은 가치가 더 떨어졌다고 보지 않아도 이 작은 가격 상승은 충분히 설명된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

From 1637 to 1700, both inclusive, being the sixty-four last years of the last century the average price of the quarter of nine bushels of the best wheat, at Windsor market, appears, from the same accounts, to have been £ 2:11:0 1/3, which is only 1s. 0 1/3d. dearer than it had been during the sixteen years before. But, in the course of these sixty-four years, there happened two events, which must have produced a much greater scarcity of corn than what the course of the seasons would otherwise have occasioned, and which, therefore, without supposing any further reduction in the value of silver, will much more than account for this very small enhancement of price.

WN-B01-C11-P142

한국어 번역

첫 번째 사건은 내전이었다. 내전은 경작을 위축시키고 상업을 방해하여 계절만으로 생겼을 것보다 곡물 가격을 훨씬 높였을 것이다. 그 영향은 왕국의 모든 시장, 특히 먼 곳에서 공급받아야 하는 런던 인근 시장에 더 컸다. 같은 장부에 따르면 1648년 윈저 시장의 가장 좋은 밀 9부셸 한 쿼터 가격은 4파운드 5실링, 1649년에는 4파운드였다. 두 해 가격이 1637년 이전 16년 평균인 2파운드 10실링을 초과한 금액은 합계 3파운드 5실링이다. 이것을 지난 세기 마지막 64년에 나누면 그 기간의 작은 평균가격 상승을 거의 전부 설명한다. 물론 이 두 가격이 최고였지만 내전 때문에 생긴 높은 가격은 이것뿐이 아니었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The first of these events was the civil war, which, by discouraging tillage and interrupting commerce, must have raised the price of corn much above what the course of the seasons would otherwise have occasioned. It must have had this effect, more or less, at all the different markets in the kingdom, but particularly at those in the neighbourhood of London, which require to be supplied from the greatest distance. In 1648, accordingly, the price of the best wheat, at Windsor market, appears, from the same accounts, to have been £ 4:5s., and, in 1649, to have been £ 4, the quarter of nine bushels. The excess of those two years above £ 2:10s. (the average price of the sixteen years preceding 1637) is £ 3:5s., which, divided among the sixty four last years of the last century, will alone very nearly account for that small enhancement of price which seems to have taken place in them. These, however, though the highest, are by no means the only high prices which seem to have been occasioned by the civil wars.

WN-B01-C11-P143

한국어 번역

두 번째 사건은 1688년에 부여된 곡물 수출 장려금이었다. 많은 사람은 장려금이 경작을 장려하여 오랜 기간에는 곡물을 더 풍부하고 국내시장에서 더 싸게 만들 수 있다고 생각했다. 그것이 실제로 어느 정도 그런 효과를 낼 수 있는지는 뒤에서 살펴보겠다. 여기서는 1688년부터 1700년까지는 그런 효과를 낼 시간이 없었다는 점만 지적한다. 짧은 기간 동안 장려금의 유일한 효과는 해마다 잉여생산물 수출을 장려하여 풍년의 풍부함이 흉년의 부족을 보충하지 못하게 하고 국내가격을 올리는 것이었을 것이다. 1693년부터 1699년까지 잉글랜드의 부족은 주로 나쁜 계절 때문이었고 유럽 상당 지역에 퍼졌지만 장려금 때문에 더 심해졌을 것이다. 그래서 1699년에는 추가 곡물 수출이 9개월 동안 금지되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The second event was the bounty upon the exportation of corn, granted in 1688. The bounty, it has been thought by many people, by encouraging tillage, may, in a long course of years, have occasioned a greater abundance, and, consequently, a greater cheapness of corn in the home market, than what would otherwise have taken place there. How far the bounty could produce this effect at any time I shall examine hereafter: I shall only observe at present, that between 1688 and 1700, it had not time to produce any such effect. During this short period, its only effect must have been, by encouraging the exportation of the surplus produce of every year, and thereby hindering the abundance of one year from compensating the scarcity of another, to raise the price in the home market. The scarcity which prevailed in England, from 1693 to 1699, both inclusive, though no doubt principally owing to the badness of the seasons, and, therefore, extending through a considerable part of Europe, must have been somewhat enhanced by the bounty. In 1699, accordingly, the further exportation of corn was prohibited for nine months.

WN-B01-C11-P144

한국어 번역

같은 기간에는 세 번째 사건도 있었다. 곡물 부족을 일으키거나 통상 지급되는 은의 실제 양을 늘리지는 않았겠지만 명목금액을 올릴 수밖에 없는 사건이었다. 은화가 깎이고 닳아 크게 악화된 일이다. 이 폐단은 찰스 2세 시대에 시작되어 1695년까지 계속 심해졌다. 라운즈의 기록에 따르면 당시 유통 은화는 평균적으로 법정 표준가치보다 거의 25퍼센트 낮았다. 그러나 모든 상품의 시장가격을 이루는 명목금액은 법정 표준상 들어 있어야 할 은의 양보다 실제 경험상 들어 있는 은의 양에 의해 조절된다. 따라서 화폐가 깎이고 닳아 크게 악화되면 표준가치에 가까울 때보다 명목가격이 더 높아질 수밖에 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

There was a third event which occurred in the course of the same period, and which, though it could not occasion any scarcity of corn, nor, perhaps, any augmentation in the real quantity of silver which was usually paid for it, must necessarily have occasioned some augmentation in the nominal sum. This event was the great debasement of the silver coin, by clipping and wearing. This evil had begun in the reign of Charles II. and had gone on continually increasing till 1695; at which time, as we may learn from Mr Lowndes, the current silver coin was, at an average, near five-and-twenty per cent. below its standard value. But the nominal sum which constitutes the market price of every commodity is necessarily regulated, not so much by the quantity of silver, which, according to the standard, ought to be contained in it, as by that which, it is found by experience, actually is contained in it. This nominal sum, therefore, is necessarily higher when the coin is much debased by clipping and wearing, than when near to its standard value.

WN-B01-C11-P145

한국어 번역

현 세기에는 은화가 현재보다 표준중량에서 더 크게 부족했던 때가 없었다. 그러나 은화가 매우 마모되었어도 교환되는 금화의 가치가 그것을 떠받쳤다. 최근 금화 재주조 전에는 금화도 상당히 마모되었지만 은화보다는 덜했다. 반면 1695년에는 은화 가치가 금화에 의해 유지되지 않았고, 기니 한 닢은 흔히 닳고 깎인 은화 30실링과 교환되었다. 최근 금화 재주조 전 은괴 가격은 온스당 5실링 7펜스를 거의 넘지 않았는데 이는 조폐가격보다 5펜스 높은 정도다. 그러나 1695년 은괴의 통상가격은 온스당 6실링 5펜스로 조폐가격보다 15펜스 높았다. 따라서 최근 금화 재주조 전에는 금화와 은화를 함께 보아 은괴와 비교했을 때 표준가치보다 8퍼센트 이상 낮다고 여겨지지 않았다. 반면 1695년에는 거의 25퍼센트 낮다고 여겨졌다. 윌리엄 왕 시대의 대재주조 직후인 현 세기 초에는 유통 은화 대부분이 현재보다 표준중량에 훨씬 가까웠을 것이다. 또한 현 세기에는 경작을 위축시키거나 국내상업을 방해할 내전 같은 큰 공공재난도 없었다. 장려금은 현 세기 대부분 동안 작동하여 실제 경작 상태에서 곡물가격을 어느 정도 올렸겠지만, 동시에 경작을 장려하고 국내시장 곡물량을 늘리는 모든 좋은 효과를 낼 충분한 시간도 있었다. 뒤에서 설명하고 검토할 체계의 원리에 따르면 한편으로는 가격을 내리고 다른 한편으로는 올렸다고 볼 수 있다. 많은 사람은 가격 하락 효과가 더 컸다고 생각한다. 실제로 현 세기 첫 64년 동안 이튼 칼리지 장부에 따르면 윈저 시장의 가장 좋은 밀 9부셸 한 쿼터 평균가격은 2파운드 0실링 6과 32분의 10펜스였다. 이는 지난 세기 마지막 64년보다 약 10실링 6펜스, 곧 25퍼센트 이상 싸고, 아메리카 광산 발견의 효과가 완전히 나타났다고 볼 수 있는 1636년 이전 16년보다 약 9실링 6펜스 싸며, 그 발견의 효과가 완전히 나타나기 어려웠던 1620년 이전 26년보다 약 1실링 싸다. 이 계산에 따르면 현 세기 첫 64년 동안 중간 품질 밀 8부셸 한 쿼터의 평균가격은 약 32실링이었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the course of the present century, the silver coin has not at any time been more below its standard weight than it is at present. But though very much defaced, its value has been kept up by that of the gold coin, for which it is exchanged. For though, before the late recoinage, the gold coin was a good deal defaced too, it was less so than the silver. In 1695, on the contrary, the value of the silver coin was not kept up by the gold coin; a guinea then commonly exchanging for thirty shillings of the worn and clipt silver. Before the late recoinage of the gold, the price of silver bullion was seldom higher than five shillings and sevenpence an ounce, which is but fivepence above the mint price. But in 1695, the common price of silver bullion was six shillings and fivepence an ounce, {Lowndes’s Essay on the Silver Coin, 68.} which is fifteen pence above the mint price. Even before the late recoinage of the gold, therefore, the coin, gold and silver together, when compared with silver bullion, was not supposed to be more than eight per cent. below its standard value, In 1695, on the contrary, it had been supposed to be near five-and-twenty per cent. below that value. But in the beginning of the present century, that is, immediately after the great recoinage in King William’s time, the greater part of the current silver coin must have been still nearer to its standard weight than it is at present. In the course of the present century, too, there has been no great public calamity, such as a civil war, which could either discourage tillage, or interrupt the interior commerce of the country. And though the bounty which has taken place through the greater part of this century, must always raise the price of corn somewhat higher than it otherwise would be in the actual state of tillage; yet, as in the course of this century, the bounty has had full time to produce all the good effects commonly imputed to it to encourage tillage, and thereby to increase the quantity of corn in the home market, it may, upon the principles of a system which I shall explain and examine hereafter, be supposed to have done something to lower the price of that commodity the one way, as well as to raise it the other. It is by many people supposed to have done more. In the sixty-four years of the present century, accordingly, the average price of the quarter of nine bushels of the best wheat, at Windsor market, appears, by the accounts of Eton college, to have been £ 2:0:6 10/32, which is about ten shillings and sixpence, or more than five-and-twenty percent. cheaper than it had been during the sixty-four last years of the last century; and about nine shillings and sixpence cheaper than it had been during the sixteen years preceding 1636, when the discovery of the abundant mines of America may be supposed to have produced its full effect; and about one shilling cheaper than it had been in the twenty-six years preceding 1620, before that discovery can well be supposed to have produced its full effect. According to this account, the average price of middle wheat, during these sixty-four first years of the present century, comes out to have been about thirty-two shillings the quarter of eight bushels.

WN-B01-C11-P146

한국어 번역

따라서 현 세기 동안 곡물에 비한 은의 가치는 다소 상승한 듯하며, 아마 지난 세기 말 이전부터 이미 상승하기 시작했을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The value of silver, therefore, seems to have risen somewhat in proportion to that of corn during the course of the present century, and it had probably begun to do so even some time before the end of the last.

WN-B01-C11-P147

한국어 번역

1687년 윈저 시장에서 가장 좋은 밀 9부셸 한 쿼터 가격은 1파운드 5실링 2펜스로, 1595년 이후 가장 낮았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1687, the price of the quarter of nine bushels of the best wheat, at Windsor market, was £ 1:5:2, the lowest price at which it had ever been from 1595.

WN-B01-C11-P148

한국어 번역

1688년 이 분야의 지식으로 유명한 그레고리 킹은 적당히 풍년인 해에 재배자가 받는 밀 평균가격을 부셸당 3실링 6펜스, 곧 쿼터당 28실링으로 추정했다. 여기서 재배자 가격은 때때로 계약가격이라고 부르는 것, 곧 농부가 몇 년 동안 일정량의 곡물을 상인에게 공급하기로 계약할 때 받는 가격과 같다고 이해한다. 이런 계약은 농부가 시장에 내다 파는 비용과 수고를 덜어 주므로 계약가격은 일반적으로 평균 시장가격으로 여겨지는 것보다 낮다. 킹은 당시 적당히 풍년인 해의 통상 계약가격을 쿼터당 28실링으로 판단했다. 최근의 특별히 나쁜 계절들이 낳은 부족 이전에도 보통 해의 통상 계약가격이 그 정도였다고 나는 들었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1688, Mr Gregory King, a man famous for his knowledge in matters of this kind, estimated the average price of wheat, in years of moderate plenty, to be to the grower 3s. 6d. the bushel, or eight-and-twenty shillings the quarter. The grower’s price I understand to be the same with what is sometimes called the contract price, or the price at which a farmer contracts for a certain number of years to deliver a certain quantity of corn to a dealer. As a contract of this kind saves the farmer the expense and trouble of marketing, the contract price is generally lower than what is supposed to be the average market price. Mr King had judged eight-and-twenty shillings the quarter to be at that time the ordinary contract price in years of moderate plenty. Before the scarcity occasioned by the late extraordinary course of bad seasons, it was, I have been assured, the ordinary contract price in all common years.

WN-B01-C11-P149

한국어 번역

1688년 의회는 곡물 수출 장려금을 허용했다. 당시 입법부에서 지금보다 더 큰 비중을 차지하던 지주 계층은 곡물의 화폐가격이 떨어지고 있음을 느꼈다. 장려금은 찰스 1세와 2세 시대에 곡물이 자주 팔렸던 높은 가격까지 인위적으로 올리기 위한 방책이었다. 그래서 밀 가격이 쿼터당 48실링에 이를 때까지 장려금이 지급되도록 했다. 이는 킹이 바로 그해 적당히 풍년인 해의 재배자 가격으로 추정한 28실링보다 20실링, 곧 7분의 5 더 비쌌다. 그의 계산이 널리 얻은 명성의 일부라도 받을 만하다면, 쿼터당 48실링은 장려금 같은 방책 없이는 특별한 흉년이 아니면 기대할 수 없는 가격이었다. 그러나 당시 윌리엄 왕의 정부는 완전히 안정되지 않았고, 바로 그 지주 계층에게 연간 토지세의 최초 설치를 요청하던 중이어서 그들의 요구를 거절할 처지가 아니었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1688 was granted the parliamentary bounty upon the exportation of corn. The country gentlemen, who then composed a still greater proportion of the legislature than they do at present, had felt that the money price of corn was falling. The bounty was an expedient to raise it artificially to the high price at which it had frequently been sold in the times of Charles I. and II. It was to take place, therefore, till wheat was so high as fortyeight shillings the quarter; that is, twenty shillings, or 5-7ths dearer than Mr King had, in that very year, estimated the grower’s price to be in times of moderate plenty. If his calculations deserve any part of the reputation which they have obtained very universally, eight-and-forty shillings the quarter was a price which, without some such expedient as the bounty, could not at that time be expected, except in years of extraordinary scarcity. But the government of King William was not then fully settled. It was in no condition to refuse anything to the country gentlemen, from whom it was, at that very time, soliciting the first establishment of the annual land-tax.

WN-B01-C11-P150

한국어 번역

그러므로 곡물에 비한 은의 가치는 지난 세기 말 이전에 이미 다소 올랐고 현 세기 대부분 동안 계속 오른 듯하다. 다만 장려금의 필연적인 작용 때문에 실제 경작 상태에서 그 상승이 그렇지 않았을 때만큼 뚜렷하게 나타나지는 못했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The value of silver, therefore, in proportion to that of corn, had probably risen somewhat before the end of the last century; and it seems to have continued to do so during the course of the greater part of the present, though the necessary operation of the bounty must have hindered that rise from being so sensible as it otherwise would have been in the actual state of tillage.

WN-B01-C11-P151

한국어 번역

풍년에는 장려금이 특별한 수출을 일으켜 곡물 가격을 그해 본래 형성되었을 수준보다 반드시 높인다. 가장 풍요로운 해에도 곡물 가격을 유지하여 경작을 장려한다는 것이 이 제도의 공공연한 목적이었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In plentiful years, the bounty, by occasioning an extraordinary exportation, necessarily raises the price of corn above what it otherwise would be in those years. To encourage tillage, by keeping up the price of corn, even in the most plentiful years, was the avowed end of the institution.

WN-B01-C11-P152

한국어 번역

큰 흉년에는 장려금이 대체로 중지되었다. 그러나 그런 여러 해의 가격에도 어느 정도 영향을 미쳤을 것이다. 풍년의 특별 수출 때문에 한 해의 풍요가 다른 해의 부족을 보충하는 일이 자주 방해받았을 것이기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In years of great scarcity, indeed, the bounty has generally been suspended. It must, however, have had some effect upon the prices of many of those years. By the extraordinary exportation which it occasions in years of plenty, it must frequently hinder the plenty of one year from compensating the scarcity of another.

WN-B01-C11-P153

한국어 번역

따라서 풍년과 흉년 모두에서 장려금은 실제 경작 상태에서 자연스럽게 형성되었을 수준보다 곡물 가격을 높인다. 그러므로 현 세기 첫 64년의 평균가격이 지난 세기 마지막 64년보다 낮았다면, 경작 상태가 같았을 경우 장려금의 작용이 없었다면 훨씬 더 낮았을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Both in years of plenty and in years of scarcity, therefore, the bounty raises the price of corn above what it naturally would be in the actual state of tillage. If during the sixty-four first years of the present century, therefore, the average price has been lower than during the sixty-four last years of the last century, it must, in the same state of tillage, have been much more so, had it not been for this operation of the bounty.

WN-B01-C11-P154

한국어 번역

그러나 장려금이 없었다면 경작 상태가 같지 않았을 것이라고 말할 수 있다. 이 제도가 나라의 농업에 어떤 영향을 미쳤는지는 뒤에서 장려금을 특별히 다룰 때 설명하겠다. 여기서는 곡물에 비한 은 가치의 상승이 잉글랜드에만 고유한 현상이 아니었다는 점만 지적한다. 프랑스에서도 같은 기간 거의 같은 비율로 일어났다고, 곡물 가격을 매우 성실하고 부지런히 조사한 뒤프레 드 생모르, 메상스, 그리고 「곡물정책론」의 저자가 관찰했다. 그러나 프랑스에서는 1764년까지 곡물 수출이 법으로 금지되어 있었다. 그러므로 수출이 금지된 나라에서 나타난 것과 거의 같은 가격 하락이 다른 나라에서는 수출을 특별히 장려했기 때문에 생겼다고 보기는 다소 어렵다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But, without the bounty, it may be said the state of tillage would not have been the same. What may have been the effects of this institution upon the agriculture of the country, I shall endeavour to explain hereafter, when I come to treat particularly of bounties. I shall only observe at present, that this rise in the value of silver, in proportion to that of corn, has not been peculiar to England. It has been observed to have taken place in France during the same period, and nearly in the same proportion, too, by three very faithful, diligent, and laborious collectors of the prices of corn, Mr Dupré de St Maur, Mr Messance, and the author of the Essay on the Police of Grain. But in France, till 1764, the exportation of grain was by law prohibited; and it is somewhat difficult to suppose, that nearly the same diminution of price which took place in one country, notwithstanding this prohibition, should, in another, be owing to the extraordinary encouragement given to exportation.

WN-B01-C11-P155

한국어 번역

아마 곡물의 평균 화폐가격 변화는 곡물의 실제 평균가치 하락보다 유럽 시장에서 은의 실질가치가 점차 상승한 결과로 보는 편이 더 적절할 것이다. 앞에서 보았듯 멀리 떨어진 시대 사이의 가치 비교에서는 곡물이 은이나 어쩌면 다른 어떤 상품보다 더 정확한 척도다. 아메리카의 풍부한 광산이 발견된 뒤 곡물의 화폐가격이 이전의 세 배나 네 배가 되었을 때, 사람들은 이를 곡물의 실질가치 상승이 아니라 은의 실질가치 하락으로 돌렸다. 같은 방식으로 현 세기 첫 64년의 곡물 평균 화폐가격이 지난 세기 대부분보다 다소 낮았다면, 이를 곡물의 실질가치 하락이 아니라 유럽 시장에서 은의 실질가치가 다소 상승한 결과로 보아야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It would be more proper, perhaps, to consider this variation in the average money price of corn as the effect rather of some gradual rise in the real value of silver in the European market, than of any fall in the real average value of corn. Corn, it has already been observed, is, at distant periods of time, a more accurate measure of value than either silver or, perhaps, any other commodity. When, after the discovery of the abundant mines of America, corn rose to three and four times its former money price, this change was universally ascribed, not to any rise in the real value of corn, but to a fall in the real value of silver. If, during the sixty-four first years of the present century, therefore, the average money price of corn has fallen somewhat below what it had been during the greater part of the last century, we should, in the same manner, impute this change, not to any fall in the real value of corn, but to some rise in the real value of silver in the European market.

WN-B01-C11-P156

한국어 번역

최근 10~12년 동안의 높은 곡물 가격은 은의 실질가치가 계속 낮아진다는 의심을 불러일으켰다. 그러나 그 높은 가격은 주로 여러 해의 좋지 못한 계절이라는 우연하고 일시적인 원인에서 생긴 듯하다. 그 계절은 매우 불리했을 뿐 아니라 전례 없이 이어졌다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The high price of corn during these ten or twelve years past, indeed, has occasioned a suspicion that the real value of silver still continues to fall in the European market. This high price of corn, however, seems evidently to have been the effect of the extraordinary unfavourableness of the seasons, and ought, therefore, to be regarded, not as a permanent, but as a transitory and occasional event. The seasons, for these ten or twelve years past, have been unfavourable through the greater part of Europe; and the disorders of Poland have very much increased the scarcity in all those countries, which, in dear years, used to be supplied from that market. So long a course of bad seasons, though not a very common event, is by no means a singular one; and whoever has inquired much into the history of the prices of corn in former times, will be at no loss to recollect several other examples of the same kind. Ten years of extraordinary scarcity, besides, are not more wonderful than ten years of extraordinary plenty. The low price of corn, from 1741 to 1750, both inclusive, may very well be set in opposition to its high price during these last eight or ten years. From 1741 to 1750, the average price of the quarter of nine bushels of the best wheat, at Windsor market, it appears from the accounts of Eton college, was only £ 1:13:9 4/5, which is nearly 6s.3d. below the average price of the sixty-four first years of the present century. The average price of the quarter of eight bushels of middle wheat comes out, according to this account, to have been, during these ten years, only £ 1:6:8.

WN-B01-C11-P157

한국어 번역

1765년부터 1776년까지 윈저 시장에서 가장 좋은 밀 9부셸 한 쿼터의 평균가격은 2파운드 11실링 0과 3분의 1펜스였다. 이는 현 세기 첫 64년의 평균보다 12실링 10펜스가량 높다. 그러나 같은 기간 중간 품질 밀 8부셸 한 쿼터의 평균가격은 약 41실링이었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Between 1741 and 1750, however, the bounty must have hindered the price of corn from falling so low in the home market as it naturally would have done. During these ten years, the quantity of all sorts of grain exported, it appears from the custom-house books, amounted to no less than 8,029,156 quarters, one bushel. The bounty paid for this amounted to £ 1,514,962:17:4 1/2. In 1749, accordingly, Mr Pelham, at that time prime minister, observed to the house of commons, that, for the three years preceding, a very extraordinary sum had been paid as bounty for the exportation of corn. He had good reason to make this observation, and in the following year he might have had still better. In that single year, the bounty paid amounted to no less than £ 324,176:10:6. {See Tracts on the Corn Trade, Tract 3,} It is unnecessary to observe how much this forced exportation must have raised the price of corn above what it otherwise would have been in the home market.

WN-B01-C11-P158

한국어 번역

이 높은 가격이 은 가치의 영구적 하락 때문이라면, 그것을 일으킨 원인은 아마 지금까지 알려지지 않았을 것이다. 아메리카 광산은 계속 채굴되고 있지만 이전보다 훨씬 더 풍부해졌다는 증거는 없다. 오히려 가장 생산적인 일부 광산은 점차 고갈되는 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

At the end of the accounts annexed to this chapter the reader will find the particular account of those ten years separated from the rest. He will find there, too, the particular account of the preceding ten years, of which the average is likewise below, though not so much below, the general average of the sixty-four first years of the century. The year 1740, however, was a year of extraordinary scarcity. These twenty years preceding 1750 may very well be set in opposition to the twenty preceding 1770. As the former were a good deal below the general average of the century, notwithstanding the intervention of one or two dear years; so the latter have been a good deal above it, notwithstanding the intervention of one or two cheap ones, of 1759, for example. If the former have not been as much below the general average as the latter have been above it, we ought probably to impute it to the bounty. The change has evidently been too sudden to be ascribed to any change in the value of silver, which is always slow and gradual. The suddenness of the effect can be accounted for only by a cause which can operate suddenly, the accidental variations of the seasons.

WN-B01-C11-P159

한국어 번역

반대로 그것이 일시적인 계절의 결과라면, 몇 해의 풍년이 돌아올 때 가격은 자연스럽게 내려갈 것이다. 따라서 최근의 높은 가격만으로 은 가치의 새로운 하락을 결론 내리는 것은 성급하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The money price of labour in Great Britain has, indeed, risen during the course of the present century. This, however, seems to be the effect, not so much of any diminution in the value of silver in the European market, as of an increase in the demand for labour in Great Britain, arising from the great, and almost universal prosperity of the country. In France, a country not altogether so prosperous, the money price of labour has, since the middle of the last century, been observed to sink gradually with the average money price of corn. Both in the last century and in the present, the day wages of common labour are there said to have been pretty uniformly about the twentieth part of the average price of the septier of wheat; a measure which contains a little more than four Winchester bushels. In Great Britain, the real recompence of labour, it has already been shewn, the real quantities of the necessaries and conveniencies of life which are given to the labourer, has increased considerably during the course of the present century. The rise in its money price seems to have been the effect, not of any diminution of the value of silver in the general market of Europe, but of a rise in the real price of labour, in the particular market of Great Britain, owing to the peculiarly happy circumstances of the country.

WN-B01-C11-P160

한국어 번역

그러나 은 가치가 실제로 어느 정도 상승했든 아니든, 지금까지의 사실은 현 세기 대부분 동안 은의 가치가 계속 낮아졌다고 단정할 근거를 주지 않는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

For some time after the first discovery of America, silver would continue to sell at its former, or not much below its former price. The profits of mining would for some time be very great, and much above their natural rate. Those who imported that metal into Europe, however, would soon find that the whole annual importation could not be disposed of at this high price. Silver would gradually exchange for a smaller and a smaller quantity of goods. Its price would sink gradually lower and lower, till it fell to its natural price; or to what was just sufficient to pay, according to their natural rates, the wages of the labour, the profits of the stock, and the rent of the land, which must be paid in order to bring it from the mine to the market. In the greater part of the silver mines of Peru, the tax of the king of Spain, amounting to a tenth of the gross produce, eats up, it has already been observed, the whole rent of the land. This tax was originally a half; it soon afterwards fell to a third, then to a fifth, and at last to a tenth, at which late it still continues. In the greater part of the silver mines of Peru, this, it seems, is all that remains, after replacing the stock of the undertaker of the work, together with its ordinary profits; and it seems to be universally acknowledged that these profits, which were once very high, are now as low as they can well be, consistently with carrying on the works.

WN-B01-C11-P161

한국어 번역

아메리카 광산의 발견 이후 은 가치 하락이 완전히 나타난 뒤에는, 유럽에서 은의 연간 공급 증가가 수요 증가보다 더 빠르지 않았던 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The tax of the king of Spain was reduced to a fifth of the registered silver in 1504 {Solorzano, vol, ii.}, one-and-forty years before 1545, the date of the discovery of the mines of Potosi. In the course of ninety years, or before 1636, these mines, the most fertile in all America, had time sufficient to produce their full effect, or to reduce the value of silver in the European market as low as it could well fall, while it continued to pay this tax to the king of Spain. Ninety years is time sufficient to reduce any commodity, of which there is no monopoly, to its natural price, or to the lowest price at which, while it pays a particular tax, it can continue to be sold for any considerable time together.

WN-B01-C11-P162

한국어 번역

유럽의 산업과 인구가 늘고, 아메리카 식민지 자체도 발전하면서 은에 대한 새 수요가 계속 생겼다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of silver in the European market might, perhaps, have fallen still lower, and it might have become necessary either to reduce the tax upon it, not only to one-tenth, as in 1736, but to one twentieth, in the same manner as that upon gold, or to give up working the greater part of the American mines which are now wrought. The gradual increase of the demand for silver, or the gradual enlargement of the market for the produce of the silver mines of America, is probably the cause which has prevented this from happening, and which has not only kept up the value of silver in the European market, but has perhaps even raised it somewhat higher than it was about the middle of the last century.

WN-B01-C11-P163

한국어 번역

아메리카는 자기 은광 생산물을 위한 새로운 시장이다. 그 시장의 수요는 유럽의 가장 번성하는 나라보다도 훨씬 더 빠르게 늘어날 수밖에 없다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Since the first discovery of America, the market for the produce of its silver mines has been growing gradually more and more extensive.

WN-B01-C11-P164

한국어 번역

유럽인이 처음 정착했을 때 아메리카 여러 지역은 매우 인구가 적었고 경작도 거의 이루어지지 않았다. 그러나 식민지는 넓고 비옥한 토지와 값싼 토지 덕분에 빠르게 성장했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

First, the market of Europe has become gradually more and more extensive. Since the discovery of America, the greater part of Europe has been much improved. England, Holland, France, and Germany; even Sweden, Denmark, and Russia, have all advanced considerably, both in agriculture and in manufactures. Italy seems not to have gone backwards. The fall of Italy preceded the conquest of Peru. Since that time it seems rather to have recovered a little. Spain and Portugal, indeed, are supposed to have gone backwards. Portugal, however, is but a very small part of Europe, and the declension of Spain is not, perhaps, so great as is commonly imagined. In the beginning of the sixteenth century, Spain was a very poor country, even in comparison with France, which has been so much improved since that time. It was the well known remark of the emperor Charles V. who had travelled so frequently through both countries, that every thing abounded in France, but that every thing was wanting in Spain. The increasing produce of the agriculture and manufactures of Europe must necessarily have required a gradual increase in the quantity of silver coin to circulate it; and the increasing number of wealthy individuals must have required the like increase in the quantity of their plate and other ornaments of silver.

WN-B01-C11-P165

한국어 번역

영국 식민지는 농업·개량·인구 증가에 매우 유리한 정부 아래 있었고, 스페인 식민지는 여러 면에서 그보다 불리한 정부 아래 있었다. 그럼에도 스페인 식민지도 유럽 어느 나라보다 빠르게 발전하는 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Secondly, America is itself a new market, for the produce of its own silver mines; and as its advances in agriculture, industry, and population, are much more rapid than those of the most thriving countries in Europe, its demand must increase much more rapidly. The English colonies are altogether a new market, which, partly for coin, and partly for plate, requires a continual augmenting supply of silver through a great continent where there never was any demand before. The greater part, too, of the Spanish and Portuguese colonies, are altogether new markets. New Granada, the Yucatan, Paraguay, and the Brazils, were, before discovered by the Europeans, inhabited by savage nations, who had neither arts nor agriculture. A considerable degree of both has now been introduced into all of them. Even Mexico and Peru, though they cannot be considered as altogether new markets, are certainly much more extensive ones than they ever were before. After all the wonderful tales which have been published concerning the splendid state of those countries in ancient times, whoever reads, with any degree of sober judgment, the history of their first discovery and conquest, will evidently discern that, in arts, agriculture, and commerce, their inhabitants were much more ignorant than the Tartars of the Ukraine are at present. Even the Peruvians, the more civilized nation of the two, though they made use of gold and silver as ornaments, had no coined money of any kind. Their whole commerce was carried on by barter, and there was accordingly scarce any division of labour among them. Those who cultivated the ground, were obliged to build their own houses, to make their own household furniture, their own clothes, shoes, and instruments of agriculture. The few artificers among them are said to have been all maintained by the sovereign, the nobles, and the priests, and were probably their servants or slaves. All the ancient arts of Mexico and Peru have never furnished one single manufacture to Europe. The Spanish armies, though they scarce ever exceeded five hundred men, and frequently did not amount to half that number, found almost everywhere great difficulty in procuring subsistence. The famines which they are said to have occasioned almost wherever they went, in countries, too, which at the same time are represented as very populous and well cultivated, sufficiently demonstrate that the story of this populousness and high cultivation is in a great measure fabulous. The Spanish colonies are under a government in many respects less favourable to agriculture, improvement, and population, than that of the English colonies. They seem, however, to be advancing in all those much more rapidly than any country in Europe. In a fertile soil and happy climate, the great abundance and cheapness of land, a circumstance common to all new colonies, is, it seems, so great an advantage, as to compensate many defects in civil government. Frezier, who visited Peru in 1713, represents Lima as containing between twenty-five and twenty-eight thousand inhabitants. Ulloa, who resided in the same country between 1740 and 1746, represents it as containing more than fifty thousand. The difference in their accounts of the populousness of several other principal towns of Chili and Peru is nearly the same; and as there seems to be no reason to doubt of the good information of either, it marks an increase which is scarce inferior to that of the English colonies. America, therefore, is a new market for the produce of its own silver mines, of which the demand must increase much more rapidly than that of the most thriving country in Europe.

WN-B01-C11-P166

한국어 번역

비옥한 토양과 좋은 기후에서 토지가 매우 풍부하고 값싼 것은 모든 새 식민지에 공통된 큰 이점이다. 이 이점은 민정의 많은 결함을 보상할 만큼 강하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thirdly, the East Indies is another market for the produce of the silver mines of America, and a market which, from the time of the first discovery of those mines, has been continually taking off a greater and a greater quantity of silver. Since that time, the direct trade between America and the East Indies, which is carried on by means of the Acapulco ships, has been continually augmenting, and the indirect intercourse by the way of Europe has been augmenting in a still greater proportion. During the sixteenth century, the Portuguese were the only European nation who carried on any regular trade to the East Indies. In the last years of that century, the Dutch began to encroach upon this monopoly, and in a few years expelled them from their principal settlements in India. During the greater part of the last century, those two nations divided the most considerable part of the East India trade between them; the trade of the Dutch continually augmenting in a still greater proportion than that of the Portuguese declined. The English and French carried on some trade with India in the last century, but it has been greatly augmented in the course of the present. The East India trade of the Swedes and Danes began in the course of the present century. Even the Muscovites now trade regularly with China, by a sort of caravans which go over land through Siberia and Tartary to Pekin. The East India trade of all these nations, if we except that of the French, which the last war had well nigh annihilated, has been almost continually augmenting. The increasing consumptions of East India goods in Europe is, it seems, so great, as to afford a gradual increase of employment to them all. Tea, for example, was a drug very little used in Europe, before the middle of the last century. At present, the value of the tea annually imported by the English East India company, for the use of their own countrymen, amounts to more than a million and a half a year; and even this is not enough; a great deal more being constantly smuggled into the country from the ports of Holland, from Gottenburgh in Sweden, and from the coast of France, too, as long as the French East India company was in prosperity. The consumption of the porcelain of China, of the spiceries of the Moluccas, of the piece goods of Bengal, and of innumerable other articles, has increased very nearly in a like proportion. The tonnage, accordingly, of all the European shipping employed in the East India trade, at any one time during the last century, was not, perhaps, much greater than that of the English East India company before the late reduction of their shipping.

WN-B01-C11-P167

한국어 번역

1713년 페루를 방문한 프레지에는 리마의 인구를 2만 5천에서 2만 8천 명으로 보았다. 1740년부터 1746년까지 그 나라에 머문 울로아는 5만 명이 넘는다고 보았다. 칠레와 페루의 다른 주요 도시들에 대한 두 사람의 인구 추정 차이도 거의 같다. 두 사람의 정보가 모두 믿을 만하다고 볼 이유가 있으므로, 이는 영국 식민지의 증가에 거의 뒤지지 않는 성장을 보여 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But in the East Indies, particularly in China and Indostan, the value of the precious metals, when the Europeans first began to trade to those countries, was much higher than in Europe; and it still continues to be so. In rice countries, which generally yield two, sometimes three crops in the year, each of them more plentiful than any common crop of corn, the abundance of food must be much greater than in any corn country of equal extent. Such countries are accordingly much more populous. In them, too, the rich, having a greater superabundance of food to dispose of beyond what they themselves can consume, have the means of purchasing a much greater quantity of the labour of other people. The retinue of a grandee in China or Indostan accordingly is, by all accounts, much more numerous and splendid than that of the richest subjects in Europe. The same superabundance of food, of which they have the disposal, enables them to give a greater quantity of it for all those singular and rare productions which nature furnishes but in very small quantities; such as the precious metals and the precious stones, the great objects of the competition of the rich. Though the mines, therefore, which supplied the Indian market, had been as abundant as those which supplied the European, such commodities would naturally exchange for a greater quantity of food in India than in Europe. But the mines which supplied the Indian market with the precious metals seem to have been a good deal less abundant, and those which supplied it with the precious stones a good deal more so, than the mines which supplied the European. The precious metals, therefore, would naturally exchange in India for a somewhat greater quantity of the precious stones, and for a much greater quantity of food than in Europe. The money price of diamonds, the greatest of all superfluities, would be somewhat lower, and that of food, the first of all necessaries, a great deal lower in the one country than in the other. But the real price of labour, the real quantity of the necessaries of life which is given to the labourer, it has already been observed, is lower both in China and Indostan, the two great markets of India, than it is through the greater part of Europe. The wages of the labourer will there purchase a smaller quantity of food: and as the money price of food is much lower in India than in Europe, the money price of labour is there lower upon a double account; upon account both of the small quantity of food which it will purchase, and of the low price of that food. But in countries of equal art and industry, the money price of the greater part of manufactures will be in proportion to the money price of labour; and in manufacturing art and industry, China and Indostan, though inferior, seem not to be much inferior to any part of Europe. The money price of the greater part of manufactures, therefore, will naturally be much lower in those great empires than it is anywhere in Europe. Through the greater part of Europe, too, the expense of land-carriage increases very much both the real and nominal price of most manufactures. It costs more labour, and therefore more money, to bring first the materials, and afterwards the complete manufacture to market. In China and Indostan, the extent and variety of inland navigations save the greater part of this labour, and consequently of this money, and thereby reduce still lower both the real and the nominal price of the greater part of their manufactures. Upon all these accounts, the precious metals are a commodity which it always has been, and still continues to be, extremely advantageous to carry from Europe to India. There is scarce any commodity which brings a better price there; or which, in proportion to the quantity of labour and commodities which it costs in Europe, will purchase or command a greater quantity of labour and commodities in India. It is more advantageous, too, to carry silver thither than gold; because in China, and the greater part of the other markets of India, the proportion between fine silver and fine gold is but as ten, or at most as twelve to one; whereas in Europe it is as fourteen or fifteen to one. In China, and the greater part of the other markets of India, ten, or at most twelve ounces of silver, will purchase an ounce of gold; in Europe, it requires from fourteen to fifteen ounces. In the cargoes, therefore, of the greater part of European ships which sail to India, silver has generally been one of the most valuable articles. It is the most valuable article in the Acapulco ships which sail to Manilla. The silver of the new continent seems, in this manner, to be one of the principal commodities by which the commerce between the two extremities of the old one is carried on; and it is by means of it, in a great measure, that those distant parts of the world are connected with one another.

WN-B01-C11-P168

한국어 번역

셋째, 동인도는 아메리카 은광 생산물을 위한 또 하나의 시장이며, 광산이 처음 발견된 뒤 계속 더 많은 은을 흡수해 온 시장이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In order to supply so very widely extended a market, the quantity of silver annually brought from the mines must not only be sufficient to support that continued increase, both of coin and of plate, which is required in all thriving countries; but to repair that continual waste and consumption of silver which takes place in all countries where that metal is used.

WN-B01-C11-P169

한국어 번역

아카풀코 선박을 통한 아메리카와 동인도의 직접 무역은 계속 늘었고, 유럽을 거치는 간접 교역은 그보다 더 큰 비율로 증가했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The continual consumption of the precious metals in coin by wearing, and in plate both by wearing and cleaning, is very sensible; and in commodities of which the use is so very widely extended, would alone require a very great annual supply. The consumption of those metals in some particular manufactures, though it may not perhaps be greater upon the whole than this gradual consumption, is, however, much more sensible, as it is much more rapid. In the manufactures of Birmingham alone, the quantity of gold and silver annually employed in gilding and plating, and thereby disqualified from ever afterwards appearing in the shape of those metals, is said to amount to more than fifty thousand pounds sterling. We may from thence form some notion how great must be the annual consumption in all the different parts of the world, either in manufactures of the same kind with those of Birmingham, or in laces, embroideries, gold and silver stuffs, the gilding of books, furniture, etc. A considerable quantity, too, must be annually lost in transporting those metals from one place to another both by sea and by land. In the greater part of the governments of Asia, besides, the almost universal custom of concealing treasures in the bowels of the earth, of which the knowledge frequently dies with the person who makes the concealment, must occasion the loss of a still greater quantity.

WN-B01-C11-P170

한국어 번역

16세기에는 포르투갈만 동인도와 정기 무역을 했다. 그 세기 말 네덜란드가 독점을 침범하기 시작했고 몇 해 안에 인도의 주요 거점에서 포르투갈을 몰아냈다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The quantity of gold and silver imported at both Cadiz and Lisbon (including not only what comes under register, but what may be supposed to be smuggled) amounts, according to the best accounts, to about six millions sterling a-year.

WN-B01-C11-P171

한국어 번역

지난 세기 대부분 동안 포르투갈과 네덜란드는 동인도 무역의 큰 부분을 나누어 가졌으며, 네덜란드 무역의 증가는 포르투갈 무역의 감소보다 더 큰 비율로 진행되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

According to Mr Meggens {Postscript to the Universal Merchant p. 15 and 16. This postscript was not printed till 1756, three years after the publication of the book, which has never had a second edition. The postscript is, therefore, to be found in few copies; it corrects several errors in the book.}, the annual importation of the precious metals into Spain, at an average of six years, viz. from 1748 to 1753, both inclusive, and into Portugal, at an average of seven years, viz. from 1747 to 1753, both inclusive, amounted in silver to 1,101,107 pounds weight, and in gold to 49,940 pounds weight. The silver, at sixty two shillings the pound troy, amounts to £ 3,413,431:10s. sterling. The gold, at forty-four guineas and a half the pound troy, amounts to £ 2,333,446:14s. sterling. Both together amount to £ 5,746,878:4s. sterling. The account of what was imported under register, he assures us, is exact. He gives us the detail of the particular places from which the gold and silver were brought, and of the particular quantity of each metal, which, according to the register, each of them afforded. He makes an allowance, too, for the quantity of each metal which, he supposes, may have been smuggled. The great experience of this judicious merchant renders his opinion of considerable weight.

WN-B01-C11-P172

한국어 번역

잉글랜드와 프랑스도 지난 세기에 인도와 어느 정도 무역했지만, 현 세기에는 크게 확대되었다. 스웨덴과 덴마크의 동인도 무역도 현 세기에 시작되었고, 러시아인도 시베리아와 타타르를 지나 베이징으로 가는 육상 대상 행렬을 통해 중국과 정기적으로 무역한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

According to the eloquent, and sometimes well-informed, author of the Philosophical and Political History of the Establishment of the Europeans in the two Indies, the annual importation of registered gold and silver into Spain, at an average of eleven years, viz. from 1754 to 1764, both inclusive, amounted to 13,984,185 3/5 piastres of ten reals. On account of what may have been smuggled, however, the whole annual importation, he supposes, may have amounted to seventeen millions of piastres, which, at 4s. 6d. the piastre, is equal to £ 3,825,000 sterling. He gives the detail, too, of the particular places from which the gold and silver were brought, and of the particular quantities of each metal, which according to the register, each of them afforded. He informs us, too, that if we were to judge of the quantity of gold annually imported from the Brazils to Lisbon, by the amount of the tax paid to the king of Portugal, which it seems, is one-fifth of the standard metal, we might value it at eighteen millions of cruzadoes, or forty-five millions of French livres, equal to about twenty millions sterling. On account of what may have been smuggled, however, we may safely, he says, add to this sum an eighth more, or £ 250,000 sterling, so that the whole will amount to £ 2,250,000 sterling. According to this account, therefore, the whole annual importation of the precious metals into both Spain and Portugal, mounts to about £ 6,075,000 sterling.

WN-B01-C11-P173

한국어 번역

최근 전쟁으로 거의 파괴된 프랑스 무역을 제외하면, 이 모든 나라의 동인도 무역은 거의 계속 증가했다. 유럽의 동인도 상품 소비가 매우 빠르게 늘어 모든 나라에 점점 더 많은 고용을 제공한 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Several other very well authenticated, though manuscript accounts, I have been assured, agree in making this whole annual importation amount, at an average, to about six millions sterling; sometimes a little more, sometimes a little less.

WN-B01-C11-P174

한국어 번역

예를 들어 차는 지난 세기 중엽 이전에는 유럽에서 거의 사용되지 않았다. 지금은 영국 동인도회사가 자국 소비용으로 해마다 수입하는 차의 가치만도 150만 파운드가 넘지만, 그것으로도 충분하지 않다. 네덜란드 항구, 스웨덴의 예테보리, 그리고 프랑스 동인도회사가 번성하던 동안에는 프랑스 해안에서도 더 많은 차가 계속 밀수입되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The annual importation of the precious metals into Cadiz and Lisbon, indeed, is not equal to the whole annual produce of the mines of America. Some part is sent annually by the Acapulco ships to Manilla; some part is employed in a contraband trade, which the Spanish colonies carry on with those of other European nations; and some part, no doubt, remains in the country. The mines of America, besides, are by no means the only gold and silver mines in the world. They, are, however, by far the most abundant. The produce of all the other mines which are known is insignificant, it is acknowledged, in comparison with theirs; and the far greater part of their produce, it is likewise acknowledged, is annually imported into Cadiz and Lisbon. But the consumption of Birmingham alone, at the rate of fifty thousand pounds a-year, is equal to the hundred-and-twentieth part of this annual importation, at the rate of six millions a-year. The whole annual consumption of gold and silver, therefore, in all the different countries of the world where those metals are used, may, perhaps, be nearly equal to the whole annual produce. The remainder may be no more than sufficient to supply the increasing demand of all thriving countries. It may even have fallen so far short of this demand, as somewhat to raise the price of those metals in the European market.

WN-B01-C11-P175

한국어 번역

중국 도자기, 몰루카 제도의 향신료, 벵골의 직물과 셀 수 없이 많은 다른 품목의 소비도 거의 같은 비율로 증가했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The quantity of brass and iron annually brought from the mine to the market, is out of all proportion greater than that of gold and silver. We do not, however, upon this account, imagine that those coarse metals are likely to multiply beyond the demand, or to become gradually cheaper and cheaper. Why should we imagine that the precious metals are likely to do so? The coarse metals, indeed, though harder, are put to much harder uses, and, as they are of less value, less care is employed in their preservation. The precious metals, however, are not necessarily immortal any more than they, but are liable, too, to be lost, wasted, and consumed, in a great variety of ways.

WN-B01-C11-P176

한국어 번역

그 결과 지난 세기의 어느 한 시점에 동인도 무역에 종사하던 유럽 전체 선박의 총톤수도, 최근 선박 감축 이전 영국 동인도회사 선박의 총톤수보다 그리 많지 않았을 가능성이 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of all metals, though liable to slow and gradual variations, varies less from year to year than that of almost any other part of the rude produce of land: and the price of the precious metals is even less liable to sudden variations than that of the coarse ones. The durableness of metals is the foundation of this extraordinary steadiness of price. The corn which was brought to market last year will be all, or almost all, consumed, long before the end of this year. But some part of the iron which was brought from the mine two or three hundred years ago, may be still in use, and, perhaps, some part of the gold which was brought from it two or three thousand years ago. The different masses of corn, which, in different years, must supply the consumption of the world, will always be nearly in proportion to the respective produce of those different years. But the proportion between the different masses of iron which may be in use in two different years, will be very little affected by any accidental difference in the produce of the iron mines of those two years; and the proportion between the masses of gold will be still less affected by any such difference in the produce of the gold mines. Though the produce of the greater part of metallic mines, therefore, varies, perhaps, still more from year to year than that of the greater part of corn fields, those variations have not the same effect upon the price of the one species of commodities as upon that of the other.

WN-B01-C11-P177

한국어 번역

그러나 동인도, 특히 중국과 인도스탄에서는 유럽인이 처음 그 나라들과 무역하기 시작했을 때 귀금속의 가치가 유럽보다 훨씬 높았고 지금도 여전히 그렇다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Variations in the Proportion between the respective Values of Gold and Silver.

WN-B01-C11-P178

한국어 번역

쌀을 재배하는 나라는 보통 1년에 두 번, 때로는 세 번 수확하며, 각 수확량도 보통 곡물 수확보다 많다. 따라서 같은 면적의 곡물 재배국보다 식량이 훨씬 풍부하고 인구도 더 많다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Before the discovery of the mines of America, the value of fine gold to fine silver was regulated in the different mines of Europe, between the proportions of one to ten and one to twelve; that is, an ounce of fine gold was supposed to be worth from ten to twelve ounces of fine silver. About the middle of the last century, it came to be regulated, between the proportions of one to fourteen and one to fifteen; that is, an ounce of fine gold came to be supposed worth between fourteen and fifteen ounces of fine silver. Gold rose in its nominal value, or in the quantity of silver which was given for it. Both metals sunk in their real value, or in the quantity of labour which they could purchase; but silver sunk more than gold. Though both the gold and silver mines of America exceeded in fertility all those which had ever been known before, the fertility of the silver mines had, it seems, been proportionally still greater than that of the gold ones.

WN-B01-C11-P179

한국어 번역

그곳의 부유한 사람들은 자기 소비를 넘는 식량을 더 많이 처분할 수 있으므로, 다른 사람의 노동을 훨씬 더 많이 구매할 수 있다. 그래서 중국이나 인도스탄의 고관이 거느리는 수행원은 유럽의 가장 부유한 신하가 거느리는 수행원보다 훨씬 많고 화려하다고 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The great quantities of silver carried annually from Europe to India, have, in some of the English settlements, gradually reduced the value of that metal in proportion to gold. In the mint of Calcutta, an ounce of fine gold is supposed to be worth fifteen ounces of fine silver, in the same manner as in Europe. It is in the mint, perhaps, rated too high for the value which it bears in the market of Bengal. In China, the proportion of gold to silver still continues as one to ten, or one to twelve. In Japan, it is said to be as one to eight.

WN-B01-C11-P180

한국어 번역

그들이 처분할 수 있는 풍부한 식량은 자연이 아주 적은 양만 공급하는 희귀한 생산물, 곧 부유한 사람들의 경쟁 대상인 귀금속과 보석을 위해 더 많은 식량을 지급할 수 있게 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The proportion between the quantities of gold and silver annually imported into Europe, according to Mr Meggens’ account, is as one to twenty-two nearly; that is, for one ounce of gold there are imported a little more than twenty-two ounces of silver. The great quantity of silver sent annually to the East Indies reduces, he supposes, the quantities of those metals which remain in Europe to the proportion of one to fourteen or fifteen, the proportion of their values. The proportion between their values, he seems to think, must necessarily be the same as that between their quantities, and would therefore be as one to twenty-two, were it not for this greater exportation of silver.

WN-B01-C11-P181

한국어 번역

그 나라들에서 금과 은의 광산이 가까이 있지 않더라도, 귀금속은 유럽보다 더 많은 식량과 노동을 지배할 수 있다. 그만큼 귀금속의 실제가치가 더 높다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But the ordinary proportion between the respective values of two commodities is not necessarily the same as that between the quantities of them which are commonly in the market. The price of an ox, reckoned at ten guineas, is about three score times the price of a lamb, reckoned at 3s. 6d. It would be absurd, however, to infer from thence, that there are commonly in the market three score lambs for one ox; and it would be just as absurd to infer, because an ounce of gold will commonly purchase from fourteen or fifteen ounces of silver, that there are commonly in the market only fourteen or fifteen ounces of silver for one ounce of gold.

WN-B01-C11-P182

한국어 번역

중국과 인도에서는 금과 은을 장식과 식기로 쓰는 양도 매우 크다. 부유층의 사치와 과시가 강하고, 인구도 많기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The quantity of silver commonly in the market, it is probable, is much greater in proportion to that of gold, than the value of a certain quantity of gold is to that of an equal quantity of silver. The whole quantity of a cheap commodity brought to market is commonly not only greater, but of greater value, than the whole quantity of a dear one. The whole quantity of bread annually brought to market, is not only greater, but of greater value, than the whole quantity of butcher’s meat; the whole quantity of butcher’s meat, than the whole quantity of poultry; and the whole quantity of poultry, than the whole quantity of wild fowl. There are so many more purchasers for the cheap than for the dear commodity, that, not only a greater quantity of it, but a greater value can commonly be disposed of. The whole quantity, therefore, of the cheap commodity, must commonly be greater in proportion to the whole quantity of the dear one, than the value of a certain quantity of the dear one, is to the value of an equal quantity of the cheap one. When we compare the precious metals with one another, silver is a cheap, and gold a dear commodity. We ought naturally to expect, therefore, that there should always be in the market, not only a greater quantity, but a greater value of silver than of gold. Let any man, who has a little of both, compare his own silver with his gold plate, and he will probably find, that not only the quantity, but the value of the former, greatly exceeds that of the latter. Many people, besides, have a good deal of silver who have no gold plate, which, even with those who have it, is generally confined to watch-cases, snuff-boxes, and such like trinkets, of which the whole amount is seldom of great value. In the British coin, indeed, the value of the gold preponderates greatly, but it is not so in that of all countries. In the coin of some countries, the value of the two metals is nearly equal. In the Scotch coin, before the union with England, the gold preponderated very little, though it did somewhat {See Ruddiman’s Preface to Anderson’s Diplomata, etc. Scotiae.}, as it appears by the accounts of the mint. In the coin of many countries the silver preponderates. In France, the largest sums are commonly paid in that metal, and it is there difficult to get more gold than what is necessary to carry about in your pocket. The superior value, however, of the silver plate above that of the gold, which takes place in all countries, will much more than compensate the preponderancy of the gold coin above the silver, which takes place only in some countries.

WN-B01-C11-P183

한국어 번역

유럽 상인은 동인도 상품을 사기 위해 해마다 상당량의 은을 보내야 한다. 유럽 상품은 그곳에서 은만큼 수요가 크지 않기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Though, in one sense of the word, silver always has been, and probably always will be, much cheaper than gold; yet, in another sense, gold may perhaps, in the present state of the Spanish market, be said to be somewhat cheaper than silver. A commodity may be said to be dear or cheap not only according to the absolute greatness or smallness of its usual price, but according as that price is more or less above the lowest for which it is possible to bring it to market for any considerable time together. This lowest price is that which barely replaces, with a moderate profit, the stock which must be employed in bringing the commodity thither. It is the price which affords nothing to the landlord, of which rent makes not any component part, but which resolves itself altogether into wages and profit. But, in the present state of the Spanish market, gold is certainly somewhat nearer to this lowest price than silver. The tax of the king of Spain upon gold is only one-twentieth part of the standard metal, or five per cent.; whereas his tax upon silver amounts to one-tenth part of it, or to ten per cent. In these taxes, too, it has already been observed, consists the whole rent of the greater part of the gold and silver mines of Spanish America; and that upon gold is still worse paid than that upon silver. The profits of the undertakers of gold mines, too, as they more rarely make a fortune, must, in general, be still more moderate than those of the undertakers of silver mines. The price of Spanish gold, therefore, as it affords both less rent and less profit, must, in the Spanish market, be somewhat nearer to the lowest price for which it is possible to bring it thither, than the price of Spanish silver. When all expenses are computed, the whole quantity of the one metal, it would seem, cannot, in the Spanish market, be disposed of so advantageously as the whole quantity of the other. The tax, indeed, of the king of Portugal upon the gold of the Brazils, is the same with the ancient tax of the king of Spain upon the silver of Mexico and Peru; or one-fifth part of the standard metal. It may therefore be uncertain, whether, to the general market of Europe, the whole mass of American gold comes at a price nearer to the lowest for which it is possible to bring it thither, than the whole mass of American silver.

WN-B01-C11-P184

한국어 번역

따라서 아메리카 광산의 은은 유럽에서만 소비되는 것이 아니라, 상당 부분이 아시아로 흘러가 그곳의 수요를 충족한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of diamonds and other precious stones may, perhaps, be still nearer to the lowest price at which it is possible to bring them to market, than even the price of gold.

WN-B01-C11-P185

한국어 번역

이 동방 유출은 아메리카 광산의 풍부한 공급이 유럽에서 은 가치를 더 크게 떨어뜨리는 것을 막는 중요한 원인 가운데 하나다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Though it is not very probable that any part of a tax, which is not only imposed upon one of the most proper subjects of taxation, a mere luxury and superfluity, but which affords so very important a revenue as the tax upon silver, will ever be given up as long as it is possible to pay it; yet the same impossibility of paying it, which, in 1736. made it necessary to reduce it from one-fifth to one-tenth, may in time make it necessary to reduce it still further; in the same manner as it made it necessary to reduce the tax upon gold to one-twentieth. That the silver mines of Spanish America, like all other mines, become gradually more expensive in the working, on account of the greater depths at which it is necessary to carry on the works, and of the greater expense of drawing out the water, and of supplying them with fresh air at those depths, is acknowledged by everybody who has inquired into the state of those mines.

WN-B01-C11-P186

한국어 번역

은은 또한 주화의 마모·손실, 식기와 장식품의 파손, 해난과 화재, 매장된 보물의 망실 등으로 계속 소모된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

These causes, which are equivalent to a growing scarcity of silver (for a commodity may be said to grow scarcer when it becomes more difficult and expensive to collect a certain quantity of it), must, in time, produce one or other of the three following events: The increase of the expense must either, first, be compensated altogether by a proportionable increase in the price of the metal; or, secondly, it must be compensated altogether by a proportionable diminution of the tax upon silver; or, thirdly, it must be compensated partly by the one and partly by the other of those two expedients. This third event is very possible. As gold rose in its price in proportion to silver, notwithstanding a great diminution of the tax upon gold, so silver might rise in its price in proportion to labour and commodities, notwithstanding an equal diminution of the tax upon silver.

WN-B01-C11-P187

한국어 번역

이 모든 손실을 보충하고 늘어나는 상업과 부를 뒷받침하려면 해마다 상당한 새 공급이 필요하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Such successive reductions of the tax, however, though they may not prevent altogether, must certainly retard, more or less, the rise of the value of silver in the European market. In consequence of such reductions, many mines may be wrought which could not be wrought before, because they could not afford to pay the old tax; and the quantity of silver annually brought to market, must always be somewhat greater, and, therefore, the value of any given quantity somewhat less, than it otherwise would have been. In consequence of the reduction in 1736, the value of silver in the European market, though it may not at this day be lower than before that reduction, is, probably, at least ten per cent. lower than it would have been, had the court of Spain continued to exact the old tax. That, notwithstanding this reduction, the value of silver has, during the course of the present century, begun to rise somewhat in the European market, the facts and arguments which have been alleged above, dispose me to believe, or more properly to suspect and conjecture; for the best opinion which I can form upon this subject, scarce, perhaps, deserves the name of belief. The rise, indeed, supposing there has been any, has hitherto been so very small, that after all that has been said, it may, perhaps, appear to many people uncertain, not only whether this event has actually taken place, but whether the contrary may not have taken place, or whether the value of silver may not still continue to fall in the European market.

WN-B01-C11-P188

한국어 번역

그러므로 광산의 연간 생산량이 매우 커 보여도, 그 전부가 세계의 은 총량을 순수하게 증가시키는 것은 아니다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It must be observed, however, that whatever may be the supposed annual importation of gold and silver, there must be a certain period at which the annual consumption of those metals will be equal to that annual importation. Their consumption must increase as their mass increases, or rather in a much greater proportion. As their mass increases, their value diminishes. They are more used, and less cared for, and their consumption consequently increases in a greater proportion than their mass. After a certain period, therefore, the annual consumption of those metals must, in this manner, become equal to their annual importation, provided that importation is not continually increasing; which, in the present times, is not supposed to be the case.

WN-B01-C11-P189

한국어 번역

상당 부분은 단지 해마다 소모되거나 사라지는 양을 보충하는 데 쓰인다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

If, when the annual consumption has become equal to the annual importation, the annual importation should gradually diminish, the annual consumption may, for some time, exceed the annual importation. The mass of those metals may gradually and insensibly diminish, and their value gradually and insensibly rise, till the annual importation becoming again stationary, the annual consumption will gradually and insensibly accommodate itself to what that annual importation can maintain.

WN-B01-C11-P190

한국어 번역

아메리카 광산에서 유럽으로 들어오는 금과 은의 실제 양을 정확히 확인하기는 어렵다. 공적인 등록은 밀수와 누락 때문에 불완전하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Grounds of the suspicion that the Value of Silver still continues to decrease.

WN-B01-C11-P191

한국어 번역

카디스와 리스본으로 들어오는 등록량은 전체 수입의 일부만 보여 줄 뿐이며, 사적으로 들여오는 양은 상당했을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The increase of the wealth of Europe, and the popular notion, that as the quantity of the precious metals naturally increases with the increase of wealth, so their value diminishes as their quantity increases, may, perhaps, dispose many people to believe that their value still continues to fall in the European market; and the still gradually increasing price of many parts of the rude produce of land may confirm them still farther in this opinion.

WN-B01-C11-P192

한국어 번역

그럼에도 여러 자료를 종합하면, 아메리카 광산의 연간 생산은 여전히 매우 크고 세계 상업에 막대한 영향을 준다고 볼 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

That that increase in the quantity of the precious metals, which arises in any country from the increase of wealth, has no tendency to diminish their value, I have endeavoured to shew already. Gold and silver naturally resort to a rich country, for the same reason that all sorts of luxuries and curiosities resort to it; not because they are cheaper there than in poorer countries, but because they are dearer, or because a better price is given for them. It is the superiority of price which attracts them; and as soon as that superiority ceases, they necessarily cease to go thither.

WN-B01-C11-P193

한국어 번역

그러나 그 생산이 앞으로도 같은 비율로 계속될지는 확실하지 않다. 광산은 고갈될 수 있고 채굴비는 증가할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

If you except corn, and such other vegetables as are raised altogether by human industry, that all other sorts of rude produce, cattle, poultry, game of all kinds, the useful fossils and minerals of the earth, etc. naturally grow dearer, as the society advances in wealth and improvement, I have endeavoured to shew already. Though such commodities, therefore, come to exchange for a greater quantity of silver than before, it will not from thence follow that silver has become really cheaper, or will purchase less labour than before; but that such commodities have become really dearer, or will purchase more labour than before. It is not their nominal price only, but their real price, which rises in the progress of improvement. The rise of their nominal price is the effect, not of any degradation of the value of silver, but of the rise in their real price.

WN-B01-C11-P194

한국어 번역

한편 새로운 광맥이 발견되거나 채굴기술이 향상되면 생산이 다시 늘어날 수도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Different Effects of the Progress of Improvement upon three different sorts of rude Produce.

WN-B01-C11-P195

한국어 번역

이처럼 귀금속의 장래 가치는 공급과 수요의 우연한 변화에 크게 좌우되며, 확실하게 예측하기 어렵다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

These different sorts of rude produce may be divided into three classes. The first comprehends those which it is scarce in the power of human industry to multiply at all. The second, those which it can multiply in proportion to the demand. The third, those in which the efficacy of industry is either limited or uncertain. In the progress of wealth and improvement, the real price of the first may rise to any degree of extravagance, and seems not to be limited by any certain boundary. That of the second, though it may rise greatly, has, however, a certain boundary, beyond which it cannot well pass for any considerable time together. That of the third, though its natural tendency is to rise in the progress of improvement, yet in the same degree of improvement it may sometimes happen even to fall, sometimes to continue the same, and sometimes to rise more or less, according as different accidents render the efforts of human industry, in multiplying this sort of rude produce, more or less successful.

WN-B01-C11-P196

한국어 번역

곡물이나 식량의 가치 변화는 사회의 생산과 인구에 더 직접 연결되지만, 금과 은의 가치는 세계적 광산 생산과 국제수요에 좌우된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

First Sort.—The first sort of rude produce, of which the price rises in the progress of improvement, is that which it is scarce in the power of human industry to multiply at all. It consists in those things which nature produces only in certain quantities, and which being of a very perishable nature, it is impossible to accumulate together the produce of many different seasons. Such are the greater part of rare and singular birds and fishes, many different sorts of game, almost all wild-fowl, all birds of passage in particular, as well as many other things. When wealth, and the luxury which accompanies it, increase, the demand for these is likely to increase with them, and no effort of human industry may be able to increase the supply much beyond what it was before this increase of the demand. The quantity of such commodities, therefore, remaining the same, or nearly the same, while the competition to purchase them is continually increasing, their price may rise to any degree of extravagance, and seems not to be limited by any certain boundary. If woodcocks should become so fashionable as to sell for twenty guineas a-piece, no effort of human industry could increase the number of those brought to market, much beyond what it is at present. The high price paid by the Romans, in the time of their greatest grandeur, for rare birds and fishes, may in this manner easily be accounted for. These prices were not the effects of the low value of silver in those times, but of the high value of such rarities and curiosities as human industry could not multiply at pleasure. The real value of silver was higher at Rome, for sometime before, and after the fall of the republic, than it is through the greater part of Europe at present. Three sestertii equal to about sixpence sterling, was the price which the republic paid for the modius or peck of the tithe wheat of Sicily. This price, however, was probably below the average market price, the obligation to deliver their wheat at this rate being considered as a tax upon the Sicilian farmers. When the Romans, therefore, had occasion to order more corn than the tithe of wheat amounted to, they were bound by capitulation to pay for the surplus at the rate of four sestertii, or eightpence sterling the peck; and this had probably been reckoned the moderate and reasonable, that is, the ordinary or average contract price of those times; it is equal to about one-and-twenty shillings the quarter. Eight-and-twenty shillings the quarter was, before the late years of scarcity, the ordinary contract price of English wheat, which in quality is inferior to the Sicilian, and generally sells for a lower price in the European market. The value of silver, therefore, in those ancient times, must have been to its value in the present, as three to four inversely; that is, three ounces of silver would then have purchased the same quantity of labour and commodities which four ounces will do at present. When we read in Pliny, therefore, that Seius {Lib. X, c. 29.} bought a white nightingale, as a present for the empress Agrippina, at the price of six thousand sestertii, equal to about fifty pounds of our present money; and that Asinius Celer {Lib. IX, c. 17.} purchased a surmullet at the price of eight thousand sestertii, equal to about sixty-six pounds thirteen shillings and fourpence of our present money; the extravagance of those prices, how much soever it may surprise us, is apt, notwithstanding, to appear to us about one third less than it really was. Their real price, the quantity of labour and subsistence which was given away for them, was about one-third more than their nominal price is apt to express to us in the present times. Seius gave for the nightingale the command of a quantity of labour and subsistence, equal to what £ 66:13: 4d. would purchase in the present times; and Asinius Celer gave for a surmullet the command of a quantity equal to what £ 88:17: 9d. would purchase. What occasioned the extravagance of those high prices was, not so much the abundance of silver, as the abundance of labour and subsistence, of which those Romans had the disposal, beyond what was necessary for their own use. The quantity of silver, of which they had the disposal, was a good deal less than what the command of the same quantity of labour and subsistence would have procured to them in the present times.

WN-B01-C11-P197

한국어 번역

따라서 토지 지대와 농업 생산의 장기 변화를 설명하는 데 귀금속 가격만을 기준으로 삼는 것은 위험하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Second sort.—The second sort of rude produce, of which the price rises in the progress of improvement, is that which human industry can multiply in proportion to the demand. It consists in those useful plants and animals, which, in uncultivated countries, nature produces with such profuse abundance, that they are of little or no value, and which, as cultivation advances, are therefore forced to give place to some more profitable produce. During a long period in the progress of improvement, the quantity of these is continually diminishing, while, at the same time, the demand for them is continually increasing. Their real value, therefore, the real quantity of labour which they will purchase or command, gradually rises, till at last it gets so high as to render them as profitable a produce as any thing else which human industry can raise upon the most fertile and best cultivated land. When it has got so high, it cannot well go higher. If it did, more land and more industry would soon be employed to increase their quantity.

WN-B01-C11-P198

한국어 번역

노동과 곡물은 멀리 떨어진 시대의 실질가치를 비교하는 데 금과 은보다 더 안정적인 척도를 제공한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

When the price of cattle, for example, rises so high, that it is as profitable to cultivate land in order to raise food for them as in order to raise food for man, it cannot well go higher. If it did, more corn land would soon be turned into pasture. The extension of tillage, by diminishing the quantity of wild pasture, diminishes the quantity of butcher’s meat, which the country naturally produces without labour or cultivation; and, by increasing the number of those who have either corn, or, what comes to the same thing, the price of corn, to give in exchange for it, increases the demand. The price of butcher’s meat, therefore, and, consequently, of cattle, must gradually rise, till it gets so high, that it becomes as profitable to employ the most fertile and best cultivated lands in raising food for them as in raising corn. But it must always be late in the progress of improvement before tillage can be so far extended as to raise the price of cattle to this height; and, till it has got to this height, if the country is advancing at all, their price must be continually rising. There are, perhaps, some parts of Europe in which the price of cattle has not yet got to this height. It had not got to this height in any part of Scotland before the Union. Had the Scotch cattle been always confined to the market of Scotland, in a country in which the quantity of land, which can be applied to no other purpose but the feeding of cattle, is so great in proportion to what can be applied to other purposes, it is scarce possible, perhaps, that their price could ever have risen so high as to render it profitable to cultivate land for the sake of feeding them. In England, the price of cattle, it has already been observed, seems, in the neighbourhood of London, to have got to this height about the beginning of the last century; but it was much later, probably, before it got through the greater part of the remoter counties, in some of which, perhaps, it may scarce yet have got to it. Of all the different substances, however, which compose this second sort of rude produce, cattle is, perhaps, that of which the price, in the progress of improvement, rises first to this height.

WN-B01-C11-P199

한국어 번역

그러나 실제 거래와 회계에서는 화폐가 사용되므로, 역사적 가격을 해석할 때 화폐가치 변화와 상품가치 변화를 구별해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Till the price of cattle, indeed, has got to this height, it seems scarce possible that the greater part, even of those lands which are capable of the highest cultivation, can be completely cultivated. In all farms too distant from any town to carry manure from it, that is, in the far greater part of those of every extensive country, the quantity of well cultivated land must be in proportion to the quantity of manure which the farm itself produces; and this, again, must be in proportion to the stock of cattle which are maintained upon it. The land is manured, either by pasturing the cattle upon it, or by feeding them in the stable, and from thence carrying out their dung to it. But unless the price of the cattle be sufficient to pay both the rent and profit of cultivated land, the farmer cannot afford to pasture them upon it; and he can still less afford to feed them in the stable. It is with the produce of improved and cultivated land only that cattle can be fed in the stable; because, to collect the scanty and scattered produce of waste and unimproved lands, would require too much labour, and be too expensive. If the price of the cattle, therefore, is not sufficient to pay for the produce of improved and cultivated land, when they are allowed to pasture it, that price will be still less sufficient to pay for that produce, when it must be collected with a good deal of additional labour, and brought into the stable to them. In these circumstances, therefore, no more cattle can with profit be fed in the stable than what are necessary for tillage. But these can never afford manure enough for keeping constantly in good condition all the lands which they are capable of cultivating. What they afford, being insufficient for the whole farm, will naturally be reserved for the lands to which it can be most advantageously or conveniently applied; the most fertile, or those, perhaps, in the neighbourhood of the farm-yard. These, therefore, will be kept constantly in good condition, and fit for tillage. The rest will, the greater part of them, be allowed to lie waste, producing scarce any thing but some miserable pasture, just sufficient to keep alive a few straggling, half-starved cattle; the farm, though much overstocked in proportion to what would be necessary for its complete cultivation, being very frequently overstocked in proportion to its actual produce. A portion of this waste land, however, after having been pastured in this wretched manner for six or seven years together, may be ploughed up, when it will yield, perhaps, a poor crop or two of bad oats, or of some other coarse grain; and then, being entirely exhausted, it must be rested and pastured again as before, and another portion ploughed up, to be in the same manner exhausted and rested again in its turn. Such, accordingly, was the general system of management all over the low country of Scotland before the Union. The lands which were kept constantly well manured and in good condition seldom exceeded a third or fourth part of the whole farm, and sometimes did not amount to a fifth or a sixth part of it. The rest were never manured, but a certain portion of them was in its turn, notwithstanding, regularly cultivated and exhausted. Under this system of management, it is evident, even that part of the lands of Scotland which is capable of good cultivation, could produce but little in comparison of what it may be capable of producing. But how disadvantageous soever this system may appear, yet, before the Union, the low price of cattle seems to have rendered it almost unavoidable. If, notwithstanding a great rise in the price, it still continues to prevail through a considerable part of the country, it is owing in many places, no doubt, to ignorance and attachment to old customs, but, in most places, to the unavoidable obstructions which the natural course of things opposes to the immediate or speedy establishment of a better system: first, to the poverty of the tenants, to their not having yet had time to acquire a stock of cattle sufficient to cultivate their lands more completely, the same rise of price, which would render it advantageous for them to maintain a greater stock, rendering it more difficult for them to acquire it; and, secondly, to their not having yet had time to put their lands in condition to maintain this greater stock properly, supposing they were capable of acquiring it. The increase of stock and the improvement of land are two events which must go hand in hand, and of which the one can nowhere much outrun the other. Without some increase of stock, there can be scarce any improvement of land, but there can be no considerable increase of stock, but in consequence of a considerable improvement of land; because otherwise the land could not maintain it. These natural obstructions to the establishment of a better system, cannot be removed but by a long course of frugality and industry; and half a century or a century more, perhaps, must pass away before the old system, which is wearing out gradually, can be completely abolished through all the different parts of the country. Of all the commercial advantages, however, which Scotland has derived from the Union with England, this rise in the price of cattle is, perhaps, the greatest. It has not only raised the value of all highland estates, but it has, perhaps, been the principal cause of the improvement of the low country.

WN-B01-C11-P200

한국어 번역

이 구별을 하지 않으면 곡물 가격 상승을 곡물 가치 상승으로, 또는 은 가치 하락을 일반적 부의 증가로 잘못 해석할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In all new colonies, the great quantity of waste land, which can for many years be applied to no other purpose but the feeding of cattle, soon renders them extremely abundant; and in every thing great cheapness is the necessary consequence of great abundance. Though all the cattle of the European colonies in America were originally carried from Europe, they soon multiplied so much there, and became of so little value, that even horses were allowed to run wild in the woods, without any owner thinking it worth while to claim them. It must be a long time after the first establishment of such colonies, before it can become profitable to feed cattle upon the produce of cultivated land. The same causes, therefore, the want of manure, and the disproportion between the stock employed in cultivation and the land which it is destined to cultivate, are likely to introduce there a system of husbandry, not unlike that which still continues to take place in so many parts of Scotland. Mr Kalm, the Swedish traveller, when he gives an account of the husbandry of some of the English colonies in North America, as he found it in 1749, observes, accordingly, that he can with difficulty discover there the character of the English nation, so well skilled in all the different branches of agriculture. They make scarce any manure for their corn fields, he says; but when one piece of ground has been exhausted by continual cropping, they clear and cultivate another piece of fresh land; and when that is exhausted, proceed to a third. Their cattle are allowed to wander through the woods and other uncultivated grounds, where they are half-starved; having long ago extirpated almost all the annual grasses, by cropping them too early in the spring, before they had time to form their flowers, or to shed their seeds. {Kalm’s Travels, vol 1, pp. 343, 344.} The annual grasses were, it seems, the best natural grasses in that part of North America; and when the Europeans first settled there, they used to grow very thick, and to rise three or four feet high. A piece of ground which, when he wrote, could not maintain one cow, would in former times, he was assured, have maintained four, each of which would have given four times the quantity of milk which that one was capable of giving. The poorness of the pasture had, in his opinion, occasioned the degradation of their cattle, which degenerated sensibly from one generation to another. They were probably not unlike that stunted breed which was common all over Scotland thirty or forty years ago, and which is now so much mended through the greater part of the low country, not so much by a change of the breed, though that expedient has been employed in some places, as by a more plentiful method of feeding them.

WN-B01-C11-P201

한국어 번역

지금까지 살펴본 사실은 토지의 여러 생산물이 사회 발전과 함께 서로 다른 방식으로 가치가 변한다는 점을 보여 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Though it is late, therefore, in the progress of improvement, before cattle can bring such a price as to render it profitable to cultivate land for the sake of feeding them; yet of all the different parts which compose this second sort of rude produce, they are perhaps the first which bring this price; because, till they bring it, it seems impossible that improvement can be brought near even to that degree of perfection to which it has arrived in many parts of Europe.

WN-B01-C11-P202

한국어 번역

식량은 거의 언제나 지대를 제공하지만, 의복재료·목재·광물과 같은 다른 생산물은 수요가 충분히 커질 때에야 지대를 제공한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As cattle are among the first, so perhaps venison is among the last parts of this sort of rude produce which bring this price. The price of venison in Great Britain, how extravagant soever it may appear, is not near sufficient to compensate the expense of a deer park, as is well known to all those who have had any experience in the feeding of deer. If it was otherwise, the feeding of deer would soon become an article of common farming, in the same manner as the feeding of those small birds, called turdi, was among the ancient Romans. Varro and Columella assure us, that it was a most profitable article. The fattening of ortolans, birds of passage which arrive lean in the country, is said to be so in some parts of France. If venison continues in fashion, and the wealth and luxury of Great Britain increase as they have done for some time past, its price may very probably rise still higher than it is at present.

WN-B01-C11-P203

한국어 번역

사회의 부와 인구가 늘면 이러한 부차적 생산물에 대한 수요도 커지고, 그 결과 그것들을 생산하는 토지의 지대가 상승한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Between that period in the progress of improvement, which brings to its height the price of so necessary an article as cattle, and that which brings to it the price of such a superfluity as venison, there is a very long interval, in the course of which many other sorts of rude produce gradually arrive at their highest price, some sooner and some later, according to different circumstances.

WN-B01-C11-P204

한국어 번역

반대로 생산기술의 개선이나 새로운 공급원의 발견은 특정 생산물의 가격과 지대를 낮출 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Thus, in every farm, the offals of the barn and stable will maintain a certain number of poultry. These, as they are fed with what would otherwise be lost, are a mere save-all; and as they cost the farmer scarce any thing, so he can afford to sell them for very little. Almost all that he gets is pure gain, and their price can scarce be so low as to discourage him from feeding this number. But in countries ill cultivated, and therefore but thinly inhabited, the poultry, which are thus raised without expense, are often fully sufficient to supply the whole demand. In this state of things, therefore, they are often as cheap as butcher’s meat, or any other sort of animal food. But the whole quantity of poultry which the farm in this manner produces without expense, must always be much smaller than the whole quantity of butcher’s meat which is reared upon it; and in times of wealth and luxury, what is rare, with only nearly equal merit, is always preferred to what is common. As wealth and luxury increase, therefore, in consequence of improvement and cultivation, the price of poultry gradually rises above that of butcher’s meat, till at last it gets so high, that it becomes profitable to cultivate land for the sake of feeding them. When it has got to this height, it cannot well go higher. If it did, more land would soon be turned to this purpose. In several provinces of France, the feeding of poultry is considered as a very important article in rural economy, and sufficiently profitable to encourage the farmer to raise a considerable quantity of Indian corn and buckwheat for this purpose. A middling farmer will there sometimes have four hundred fowls in his yard. The feeding of poultry seems scarce yet to be generally considered as a matter of so much importance in England. They are certainly, however, dearer in England than in France, as England receives considerable supplies from France. In the progress of improvements, the period at which every particular sort of animal food is dearest, must naturally be that which immediately precedes the general practice of cultivating land for the sake of raising it. For some time before this practice becomes general, the scarcity must necessarily raise the price. After it has become general, new methods of feeding are commonly fallen upon, which enable the farmer to raise upon the same quantity of ground a much greater quantity of that particular sort of animal food. The plenty not only obliges him to sell cheaper, but, in consequence of these improvements, he can afford to sell cheaper; for if he could not afford it, the plenty would not be of long continuance. It has been probably in this manner that the introduction of clover, turnips, carrots, cabbages, etc. has contributed to sink the common price of butcher’s meat in the London market, somewhat below what it was about the beginning of the last century.

WN-B01-C11-P205

한국어 번역

따라서 지대의 변화는 토지 자체의 비옥도뿐 아니라 시장의 크기, 교통, 산업, 인구, 기술, 국제무역에 의해 결정된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The hog, that finds his food among ordure, and greedily devours many things rejected by every other useful animal, is, like poultry, originally kept as a save-all. As long as the number of such animals, which can thus be reared at little or no expense, is fully sufficient to supply the demand, this sort of butcher’s meat comes to market at a much lower price than any other. But when the demand rises beyond what this quantity can supply, when it becomes necessary to raise food on purpose for feeding and fattening hogs, in the same manner as for feeding and fattening other cattle, the price necessarily rises, and becomes proportionably either higher or lower than that of other butcher’s meat, according as the nature of the country, and the state of its agriculture, happen to render the feeding of hogs more or less expensive than that of other cattle. In France, according to Mr Buffon, the price of pork is nearly equal to that of beef. In most parts of Great Britain it is at present somewhat higher.

WN-B01-C11-P206

한국어 번역

토지의 어떤 생산물이 높은 지대를 제공한다는 사실은 그 생산물의 자연적 희소성과 수요의 강도를 함께 반영한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The great rise in the price both of hogs and poultry, has, in Great Britain, been frequently imputed to the diminution of the number of cottagers and other small occupiers of land; an event which has in every part of Europe been the immediate forerunner of improvement and better cultivation, but which at the same time may have contributed to raise the price of those articles, both somewhat sooner and somewhat faster than it would otherwise have risen. As the poorest family can often maintain a cat or a dog without any expense, so the poorest occupiers of land can commonly maintain a few poultry, or a sow and a few pigs, at very little. The little offals of their own table, their whey, skimmed milk, and butter milk, supply those animals with a part of their food, and they find the rest in the neighbouring fields, without doing any sensible damage to any body. By diminishing the number of those small occupiers, therefore, the quantity of this sort of provisions, which is thus produced at little or no expense, must certainly have been a good deal diminished, and their price must consequently have been raised both sooner and faster than it would otherwise have risen. Sooner or later, however, in the progress of improvement, it must at any rate have risen to the utmost height to which it is capable of rising; or to the price which pays the labour and expense of cultivating the land which furnishes them with food, as well as these are paid upon the greater part of other cultivated land.

WN-B01-C11-P207

한국어 번역

광산의 경우에는 특히 생산성이 높은 소수의 광산이 세계가격을 조절하고, 열등한 광산은 지대를 거의 내지 못할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The business of the dairy, like the feeding of hogs and poultry, is originally carried on as a save-all. The cattle necessarily kept upon the farm produce more milk than either the rearing of their own young, or the consumption of the farmer’s family requires; and they produce most at one particular season. But of all the productions of land, milk is perhaps the most perishable. In the warm season, when it is most abundant, it will scarce keep four-and-twenty hours. The farmer, by making it into fresh butter, stores a small part of it for a week; by making it into salt butter, for a year; and by making it into cheese, he stores a much greater part of it for several years. Part of all these is reserved for the use of his own family; the rest goes to market, in order to find the best price which is to be had, and which can scarce be so low is to discourage him from sending thither whatever is over and above the use of his own family. If it is very low indeed, he will be likely to manage his dairy in a very slovenly and dirty manner, and will scarce, perhaps, think it worth while to have a particular room or building on purpose for it, but will suffer the business to be carried on amidst the smoke, filth, and nastiness of his own kitchen, as was the case of almost all the farmers’ dairies in Scotland thirty or forty years ago, and as is the case of many of them still. The same causes which gradually raise the price of butcher’s meat, the increase of the demand, and, in consequence of the improvement of the country, the diminution of the quantity which can be fed at little or no expense, raise, in the same manner, that of the produce of the dairy, of which the price naturally connects with that of butcher’s meat, or with the expense of feeding cattle. The increase of price pays for more labour, care, and cleanliness. The dairy becomes more worthy of the farmer’s attention, and the quality of its produce gradually improves. The price at last gets so high, that it becomes worth while to employ some of the most fertile and best cultivated lands in feeding cattle merely for the purpose of the dairy; and when it has got to this height, it cannot well go higher. If it did, more land would soon be turned to this purpose. It seems to have got to this height through the greater part of England, where much good land is commonly employed in this manner. If you except the neighbourhood of a few considerable towns, it seems not yet to have got to this height anywhere in Scotland, where common farmers seldom employ much good land in raising food for cattle, merely for the purpose of the dairy. The price of the produce, though it has risen very considerably within these few years, is probably still too low to admit of it. The inferiority of the quality, indeed, compared with that of the produce of English dairies, is fully equal to that of the price. But this inferiority of quality is, perhaps, rather the effect of this lowness of price, than the cause of it. Though the quality was much better, the greater part of what is brought to market could not, I apprehend, in the present circumstances of the country, be disposed of at a much better price; and the present price, it is probable, would not pay the expense of the land and labour necessary for producing a much better quality. Through the greater part of England, notwithstanding the superiority of price, the dairy is not reckoned a more profitable employment of land than the raising of corn, or the fattening of cattle, the two great objects of agriculture. Through the greater part of Scotland, therefore, it cannot yet be even so profitable.

WN-B01-C11-P208

한국어 번역

농업에서는 가장 비옥한 토지가 열등한 토지의 생산을 몰아내기보다 오히려 그 생산물에 시장을 제공하여 가치를 높일 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The lands of no country, it is evident, can ever be completely cultivated and improved, till once the price of every produce, which human industry is obliged to raise upon them, has got so high as to pay for the expense of complete improvement and cultivation. In order to do this, the price of each particular produce must be sufficient, first, to pay the rent of good corn land, as it is that which regulates the rent of the greater part of other cultivated land; and, secondly, to pay the labour and expense of the farmer, as well as they are commonly paid upon good corn land; or, in other words, to replace with the ordinary profits the stock which he employs about it. This rise in the price of each particular produce; must evidently be previous to the improvement and cultivation of the land which is destined for raising it. Gain is the end of all improvement; and nothing could deserve that name, of which loss was to be the necessary consequence. But loss must be the necessary consequence of improving land for the sake of a produce of which the price could never bring back the expense. If the complete improvement and cultivation of the country be, as it most certainly is, the greatest of all public advantages, this rise in the price of all those different sorts of rude produce, instead of being considered as a public calamity, ought to be regarded as the necessary forerunner and attendant of the greatest of all public advantages.

WN-B01-C11-P209

한국어 번역

이 차이는 식량과 귀금속의 가치가 형성되는 방식이 근본적으로 다르다는 데서 나온다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This rise, too, in the nominal or money price of all those different sorts of rude produce, has been the effect, not of any degradation in the value of silver, but of a rise in their real price. They have become worth, not only a greater quantity of silver, but a greater quantity of labour and subsistence than before. As it costs a greater quantity of labour and subsistence to bring them to market, so, when they are brought thither they represent, or are equivalent to a greater quantity.

WN-B01-C11-P210

한국어 번역

이제 이러한 원리에 따라 토지 생산물의 여러 부분이 발전 과정에서 어떤 상대가치 변화를 겪는지 더 구체적으로 살펴볼 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Third Sort.—The third and last sort of rude produce, of which the price naturally rises in the progress of improvement, is that in which the efficacy of human industry, in augmenting the quantity, is either limited or uncertain. Though the real price of this sort of rude produce, therefore, naturally tends to rise in the progress of improvement, yet, according as different accidents happen to render the efforts of human industry more or less successful in augmenting the quantity, it may happen sometimes even to fall, sometimes to continue the same, in very different periods of improvement, and sometimes to rise more or less in the same period.

WN-B01-C11-P211

한국어 번역

자연이 어떤 종류의 원생산물을 다른 종류의 부속물처럼 만들어 놓은 경우가 있다. 따라서 한 나라가 공급할 수 있는 한쪽의 양은 반드시 다른 쪽의 양에 의해 제한된다. 예를 들어 한 나라가 공급할 수 있는 양모나 생가죽의 양은 그 나라에서 기르는 크고 작은 가축의 수에 의해 제한된다. 다시 그 수는 나라의 개량 상태와 농업의 성격에 의해 결정된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

There are some sorts of rude produce which nature has rendered a kind of appendages to other sorts; so that the quantity of the one which any country can afford, is necessarily limited by that of the other. The quantity of wool or of raw hides, for example, which any country can afford, is necessarily limited by the number of great and small cattle that are kept in it. The state of its improvement, and the nature of its agriculture, again necessarily determine this number.

WN-B01-C11-P212

한국어 번역

개량이 진행되면서 정육 가격을 점차 올리는 원인은 양모와 생가죽 가격에도 같은 영향을 주어 거의 같은 비율로 올릴 것처럼 보인다. 실제로 개량 초기의 양모와 생가죽 시장이 정육 시장만큼 좁게 한정되어 있었다면 그랬을 것이다. 그러나 이 상품들의 시장 범위는 보통 크게 다르다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The same causes which, in the progress of improvement, gradually raise the price of butcher’s meat, should have the same effect, it may be thought, upon the prices of wool and raw hides, and raise them, too, nearly in the same proportion. It probably would be so, if, in the rude beginnings of improvement, the market for the latter commodities was confined within as narrow bounds as that for the former. But the extent of their respective markets is commonly extremely different.

WN-B01-C11-P213

한국어 번역

정육 시장은 거의 어디에서나 그것을 생산하는 나라 안에 한정된다. 아일랜드와 영국령 아메리카 일부가 염장육을 상당히 거래하기는 하지만, 상업 세계에서 정육의 상당 부분을 다른 나라로 수출하는 곳은 내가 알기로 이들뿐이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The market for butcher’s meat is almost everywhere confined to the country which produces it. Ireland, and some part of British America, indeed, carry on a considerable trade in salt provisions; but they are, I believe, the only countries in the commercial world which do so, or which export to other countries any considerable part of their butcher’s meat.

WN-B01-C11-P214

한국어 번역

반대로 양모와 생가죽 시장은 개량 초기에도 그것을 생산하는 나라 안에만 한정되는 경우가 드물다. 양모는 별다른 가공 없이, 생가죽은 약간만 손질하면 먼 나라로 쉽게 운반할 수 있다. 또한 여러 제조업의 재료이므로 생산국의 산업이 수요를 만들지 못해도 다른 나라의 산업이 수요를 만들 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The market for wool and raw hides, on the contrary, is, in the rude beginnings of improvement, very seldom confined to the country which produces them. They can easily be transported to distant countries; wool without any preparation, and raw hides with very little; and as they are the materials of many manufactures, the industry of other countries may occasion a demand for them, though that of the country which produces them might not occasion any.

WN-B01-C11-P215

한국어 번역

경작이 뒤처지고 인구가 희박한 나라에서는 양모와 가죽의 가격이 짐승 전체 가격에서 차지하는 비율이, 개량과 인구가 더 진전되어 정육 수요가 큰 나라보다 언제나 훨씬 높다. 흄은 색슨 시대에 양털 한 벌이 양 한 마리 전체 가치의 5분의 2로 평가되었는데, 이는 오늘날의 평가 비율보다 훨씬 높았다고 지적한다. 스페인 일부 지방에서는 양을 오직 털과 기름을 얻기 위해 죽이고 사체는 썩게 두거나 맹금과 들짐승에게 먹이로 내준다고 들었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In countries ill cultivated, and therefore but thinly inhabited, the price of the wool and the hide bears always a much greater proportion to that of the whole beast, than in countries where, improvement and population being further advanced, there is more demand for butcher’s meat. Mr Hume observes, that in the Saxon times, the fleece was estimated at two-fifths of the value of the whole sheep and that this was much above the proportion of its present estimation. In some provinces of Spain, I have been assured, the sheep is frequently killed merely for the sake of the fleece and the tallow. The carcase is often left to rot upon the ground, or to be devoured by beasts and birds of prey. If this sometimes happens even in Spain, it happens almost constantly in Chili, at Buenos Ayres, and in many other parts of Spanish America, where the horned cattle are almost constantly killed merely for the sake of the hide and the tallow. This, too, used to happen almost constantly in Hispaniola, while it was infested by the buccaneers, and before the settlement, improvement, and populousness of the French plantations ( which now extend round the coast of almost the whole western half of the island) had given some value to the cattle of the Spaniards, who still continue to possess, not only the eastern part of the coast, but the whole inland mountainous part of the country.

WN-B01-C11-P216

한국어 번역

개량과 인구가 늘면서 짐승 전체의 가격은 반드시 오르지만, 사체 가격은 양모와 가죽 가격보다 훨씬 더 큰 영향을 받을 가능성이 높다. 미개한 사회에서 사체 시장은 생산국 안에만 한정되므로 그 나라의 개량과 인구에 비례해 확대될 수밖에 없다. 그러나 야만국의 양모와 가죽 시장도 흔히 세계의 상업국 전체까지 확대되므로 같은 원인 때문에 반드시 같은 비율로 커지지는 않는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Though, in the progress of improvement and population, the price of the whole beast necessarily rises, yet the price of the carcase is likely to be much more affected by this rise than that of the wool and the hide. The market for the carcase being in the rude state of society confined always to the country which produces it, must necessarily be extended in proportion to the improvement and population of that country. But the market for the wool and the hides, even of a barbarous country, often extending to the whole commercial world, it can very seldom be enlarged in the same proportion. The state of the whole commercial world can seldom be much affected by the improvement of any particular country; and the market for such commodities may remain the same, or very nearly the same, after such improvements, as before. It should, however, in the natural course of things, rather, upon the whole, be somewhat extended in consequence of them. If the manufactures, especially, of which those commodities are the materials, should ever come to flourish in the country, the market, though it might not be much enlarged, would at least be brought much nearer to the place of growth than before; and the price of those materials might at least be increased by what had usually been the expense of transporting them to distant countries. Though it might not rise, therefore, in the same proportion as that of butcher’s meat, it ought naturally to rise somewhat, and it ought certainly not to fall.

WN-B01-C11-P217

한국어 번역

그러나 영국에서는 모직 제조업이 번성했음에도 에드워드 3세 시대 이후 영국산 양모 가격이 크게 떨어졌다. 확실한 기록에 따르면 14세기 중엽인 약 1339년, 영국산 양모 한 토드, 곧 28파운드의 적당하고 합리적인 가격은 당시 화폐 10실링보다 낮지 않았다. 이는 타워 중량 은 6온스, 오늘날 화폐 약 30실링에 해당한다. 반면 현재 좋은 영국산 양모는 토드당 21실링이면 좋은 가격으로 여겨진다. 따라서 에드워드 3세 시대의 화폐로 본 양모의 화폐가격은 오늘날의 약 두 배였고, 곡물과 다른 상품에 비한 실질가격도 훨씬 높았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In England, however, notwithstanding the flourishing state of its woollen manufacture, the price of English wool has fallen very considerably since the time of Edward III. There are many authentic records which demonstrate that, during the reign of that prince (towards the middle of the fourteenth century, or about 1339), what was reckoned the moderate and reasonable price of the tod, or twenty-eight pounds of English wool, was not less than ten shillings of the money of those times {See Smith’s Memoirs of Wool, vol. i c. 5, 6, 7. also vol. ii.}, containing, at the rate of twenty-pence the ounce, six ounces of silver, Tower weight, equal to about thirty shillings of our present money. In the present times, one-and-twenty shillings the tod may be reckoned a good price for very good English wool. The money price of wool, therefore, in the time of Edward III. was to its money price in the present times as ten to seven. The superiority of its real price was still greater. At the rate of six shillings and eightpence the quarter, ten shillings was in those ancient times the price of twelve bushels of wheat. At the rate of twenty-eight shillings the quarter, one-and-twenty shillings is in the present times the price of six bushels only. The proportion between the real price of ancient and modern times, therefore, is as twelve to six, or as two to one. In those ancient times, a tod of wool would have purchased twice the quantity of subsistence which it will purchase at present, and consequently twice the quantity of labour, if the real recompence of labour had been the same in both periods.

WN-B01-C11-P218

한국어 번역

양모의 실질가치와 명목가치가 이렇게 낮아진 것은 자연스러운 사물의 흐름에서 생길 수 없었다. 실제로 이는 강제와 책략의 결과였다. 첫째, 영국산 양모의 수출을 전면 금지했고, 둘째, 스페인산 양모를 무관세로 수입하도록 허용했으며, 셋째, 아일랜드산 양모를 영국 이외 나라로 수출하지 못하게 했다. 이 규정 때문에 영국산 양모 시장은 유럽 전체로 확대되기는커녕 대체로 국내시장에 한정되었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This degradation, both in the real and nominal value of wool, could never have happened in consequence of the natural course of things. It has accordingly been the effect of violence and artifice. First, of the absolute prohibition of exporting wool from England: secondly, of the permission of importing it from Spain, duty free: thirdly, of the prohibition of exporting it from Ireland to another country but England. In consequence of these regulations, the market for English wool, instead of being somewhat extended, in consequence of the improvement of England, has been confined to the home market, where the wool of several other countries is allowed to come into competition with it, and where that of Ireland is forced into competition with it. As the woollen manufactures, too, of Ireland, are fully as much discouraged as is consistent with justice and fair dealing, the Irish can work up but a smaller part of their own wool at home, and are therefore obliged to send a greater proportion of it to Great Britain, the only market they are allowed.

WN-B01-C11-P219

한국어 번역

고대의 생가죽 가격에 관해서는 이처럼 확실한 기록을 찾지 못했다. 양모는 흔히 왕에게 보조금으로 납부되었고 그 보조금에서의 평가가 통상가격을 어느 정도 알려 준다. 그러나 생가죽은 그렇지 않았던 듯하다. 다만 플리트우드는 1425년 옥스퍼드 버세스터 수도원 원장과 한 참사회원 사이의 계산서에서 그때의 가격을 제시한다. 소가죽 다섯 장은 12실링, 암소가죽 다섯 장은 7실링 3펜스, 두 살짜리 양가죽 서른여섯 장은 9실링, 송아지가죽 열여섯 장은 2실링이었다. 1425년의 12실링에는 오늘날 24실링과 같은 양의 은이 들어 있었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

I have not been able to find any such authentic records concerning the price of raw hides in ancient times. Wool was commonly paid as a subsidy to the king, and its valuation in that subsidy ascertains, at least in some degree, what was its ordinary price. But this seems not to have been the case with raw hides. Fleetwood, however, from an account in 1425, between the prior of Burcester Oxford and one of his canons, gives us their price, at least as it was stated upon that particular occasion, viz. five ox hides at twelve shillings; five cow hides at seven shillings and threepence; thirtysix sheep skins of two years old at nine shillings; sixteen calf skins at two shillings. In 1425, twelve shillings contained about the same quantity of silver as four-and-twenty shillings of our present money. An ox hide, therefore, was in this account valued at the same quantity of silver as 4s. 4/5ths of our present money. Its nominal price was a good deal lower than at present. But at the rate of six shillings and eightpence the quarter, twelve shillings would in those times have purchased fourteen bushels and four-fifths of a bushel of wheat, which, at three and sixpence the bushel, would in the present times cost 51s. 4d. An ox hide, therefore, would in those times have purchased as much corn as ten shillings and threepence would purchase at present. Its real value was equal to ten shillings and threepence of our present money. In those ancient times, when the cattle were half starved during the greater part of the winter, we cannot suppose that they were of a very large size. An ox hide which weighs four stone of sixteen pounds of avoirdupois, is not in the present times reckoned a bad one; and in those ancient times would probably have been reckoned a very good one. But at half-a-crown the stone, which at this moment (February 1773) I understand to be the common price, such a hide would at present cost only ten shillings. Through its nominal price, therefore, is higher in the present than it was in those ancient times, its real price, the real quantity of subsistence which it will purchase or command, is rather somewhat lower. The price of cow hides, as stated in the above account, is nearly in the common proportion to that of ox hides. That of sheep skins is a good deal above it. They had probably been sold with the wool. That of calves skins, on the contrary, is greatly below it. In countries where the price of cattle is very low, the calves, which are not intended to be reared in order to keep up the stock, are generally killed very young, as was the case in Scotland twenty or thirty years ago. It saves the milk, which their price would not pay for. Their skins, therefore, are commonly good for little.

WN-B01-C11-P220

한국어 번역

생가죽 가격은 몇 해 전보다 현재 상당히 낮다. 아마도 물개가죽 관세를 폐지하고, 1769년에 일정 기간 아일랜드와 식민지의 생가죽을 무관세로 수입하도록 허용했기 때문일 것이다. 현 세기 전체를 평균하면 생가죽의 실질가격은 고대보다 다소 높았을 가능성이 크다. 이 상품은 양모보다 보관과 먼 운송에 덜 적합하므로 시장 범위가 그만큼 좁다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The price of raw hides is a good deal lower at present than it was a few years ago; owing probably to the taking off the duty upon seal skins, and to the allowing, for a limited time, the importation of raw hides from Ireland, and from the plantations, duty free, which was done in 1769. Take the whole of the present century at an average, their real price has probably been somewhat higher than it was in those ancient times. The nature of the commodity renders it not quite so proper for being transported to distant markets as wool. It suffers more by keeping. A salted hide is reckoned inferior to a fresh one, and sells for a lower price. This circumstance must necessarily have some tendency to sink the price of raw hides produced in a country which does not manufacture them, but is obliged to export them, and comparatively to raise that of those produced in a country which does manufacture them. It must have some tendency to sink their price in a barbarous, and to raise it in an improved and manufacturing country. It must have had some tendency, therefore, to sink it in ancient, and to raise it in modern times. Our tanners, besides, have not been quite so successful as our clothiers, in convincing the wisdom of the nation, that the safety of the commonwealth depends upon the prosperity of their particular manufacture. They have accordingly been much less favoured. The exportation of raw hides has, indeed, been prohibited, and declared a nuisance; but their importation from foreign countries has been subjected to a duty; and though this duty has been taken off from those of Ireland and the plantations (for the limited time of five years only), yet Ireland has not been confined to the market of Great Britain for the sale of its surplus hides, or of those which are not manufactured at home. The hides of common cattle have, but within these few years, been put among the enumerated commodities which the plantations can send nowhere but to the mother country; neither has the commerce of Ireland been in this case oppressed hitherto, in order to support the manufactures of Great Britain.

WN-B01-C11-P221

한국어 번역

양모나 생가죽의 가격을 자연스러운 수준보다 낮추는 모든 규정은 개량되고 경작된 나라에서 정육 가격을 어느 정도 올리는 경향이 있다. 개량된 토지에서 기르는 가축 가격은 지주가 기대하는 지대와 농장주가 기대하는 이윤을 지급할 만큼 충분해야 한다. 그렇지 않으면 곧 가축을 기르지 않을 것이다. 양모와 가죽 가격이 그 몫을 부담하지 못하면 사체 가격이 더 많이 부담해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Whatever regulations tend to sink the price, either of wool or of raw hides, below what it naturally would be, must, in an improved and cultivated country, have some tendency to raise the price of butcher’s meat. The price both of the great and small cattle, which are fed on improved and cultivated land, must be sufficient to pay the rent which the landlord, and the profit which the farmer, has reason to expect from improved and cultivated land. If it is not, they will soon cease to feed them. Whatever part of this price, therefore, is not paid by the wool and the hide, must be paid by the carcase. The less there is paid for the one, the more must be paid for the other. In what manner this price is to be divided upon the different parts of the beast, is indifferent to the landlords and farmers, provided it is all paid to them. In an improved and cultivated country, therefore, their interest as landlords and farmers cannot be much affected by such regulations, though their interest as consumers may, by the rise in the price of provisions. It would be quite otherwise, however, in an unimproved and uncultivated country, where the greater part of the lands could be applied to no other purpose but the feeding of cattle, and where the wool and the hide made the principal part of the value of those cattle. Their interest as landlords and farmers would in this case be very deeply affected by such regulations, and their interest as consumers very little. The fall in the price of the wool and the hide would not in this case raise the price of the carcase; because the greater part of the lands of the country being applicable to no other purpose but the feeding of cattle, the same number would still continue to be fed. The same quantity of butcher’s meat would still come to market. The demand for it would be no greater than before. Its price, therefore, would be the same as before. The whole price of cattle would fall, and along with it both the rent and the profit of all those lands of which cattle was the principal produce, that is, of the greater part of the lands of the country. The perpetual prohibition of the exportation of wool, which is commonly, but very falsely, ascribed to Edward III., would, in the then circumstances of the country, have been the most destructive regulation which could well have been thought of. It would not only have reduced the actual value of the greater part of the lands in the kingdom, but by reducing the price of the most important species of small cattle, it would have retarded very much its subsequent improvement.

WN-B01-C11-P222

한국어 번역

스코틀랜드 양모 가격은 잉글랜드와의 합병 뒤 크게 떨어졌다. 유럽의 넓은 시장에서 배제되고 대브리튼의 좁은 시장에 갇혔기 때문이다. 양 사육지인 스코틀랜드 남부 여러 주의 토지가치는 정육 가격 상승이 양모 가격 하락을 완전히 보상하지 않았다면 이 사건으로 큰 타격을 받았을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The wool of Scotland fell very considerably in its price in consequence of the union with England, by which it was excluded from the great market of Europe, and confined to the narrow one of Great Britain. The value of the greater part of the lands in the southern counties of Scotland, which are chiefly a sheep country, would have been very deeply affected by this event, had not the rise in the price of butcher’s meat fully compensated the fall in the price of wool.

WN-B01-C11-P223

한국어 번역

한 나라 안에서 양모와 생가죽의 양을 늘리는 인간 산업의 효과는 그 나라 생산물에 의존하는 한 제한되어 있다. 다른 나라의 생산물에 의존하는 한에서는 불확실하다. 그것은 다른 나라가 얼마나 생산하는가보다 얼마나 제조하지 않는가, 그리고 그런 원생산물 수출에 어떤 제한을 두는가에 더 많이 달려 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As the efficacy of human industry, in increasing the quantity either of wool or of raw hides, is limited, so far as it depends upon the produce of the country where it is exerted; so it is uncertain so far as it depends upon the produce of other countries. It so far depends not so much upon the quantity which they produce, as upon that which they do not manufacture; and upon the restraints which they may or may not think proper to impose upon the exportation of this sort of rude produce. These circumstances, as they are altogether independent of domestic industry, so they necessarily render the efficacy of its efforts more or less uncertain. In multiplying this sort of rude produce, therefore, the efficacy of human industry is not only limited, but uncertain.

WN-B01-C11-P224

한국어 번역

시장에 나오는 물고기라는 또 하나의 중요한 원생산물을 늘리는 일에서도 산업의 효과는 제한되어 있고 불확실하다. 그 양은 나라의 위치, 각 지역과 바다 사이의 거리, 호수와 강의 수, 그리고 바다·호수·강이 이 생산물에서 얼마나 비옥한가에 의해 제한된다. 인구가 늘고 토지와 노동의 연간 생산물이 증가하면 구매자가 늘어나지만, 같은 양의 산업이 언제나 같은 양의 물고기를 가져오는 것은 아니다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In multiplying another very important sort of rude produce, the quantity of fish that is brought to market, it is likewise both limited and uncertain. It is limited by the local situation of the country, by the proximity or distance of its different provinces from the sea, by the number of its lakes and rivers, and by what may be called the fertility or barrenness of those seas, lakes, and rivers, as to this sort of rude produce. As population increases, as the annual produce of the land and labour of the country grows greater and greater, there come to be more buyers of fish; and those buyers, too, have a greater quantity and variety of other goods, or, what is the same thing, the price of a greater quantity and variety of other goods, to buy with. But it will generally be impossible to supply the great and extended market, without employing a quantity of labour greater than in proportion to what had been requisite for supplying the narrow and confined one. A market which, from requiring only one thousand, comes to require annually ten thousand ton of fish, can seldom be supplied, without employing more than ten times the quantity of labour which had before been sufficient to supply it. The fish must generally be sought for at a greater distance, larger vessels must be employed, and more expensive machinery of every kind made use of. The real price of this commodity, therefore, naturally rises in the progress of improvement. It has accordingly done so, I believe, more or less in every country.

WN-B01-C11-P225

한국어 번역

하루의 어획 성공은 매우 불확실하지만, 나라의 위치가 주어졌을 때 1년 또는 여러 해 전체로 보아 일정량의 물고기를 시장에 내놓는 산업의 일반적 효과는 충분히 확실하다고 생각할 수 있다. 실제로 어느 정도 그렇다. 그러나 그것은 나라의 부와 산업 상태보다 위치에 더 많이 의존하므로, 발전 정도가 다른 시대에도 거의 같을 수 있고 반드시 같은 비율로 변하지는 않는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Though the success of a particular day’s fishing may be a very uncertain matter, yet the local situation of the country being supposed, the general efficacy of industry in bringing a certain quantity of fish to market, taking the course of a year, or of several years together, it may, perhaps, be thought is certain enough; and it, no doubt, is so. As it depends more, however, upon the local situation of the country, than upon the state of its wealth and industry; as upon this account it may in different countries be the same in very different periods of improvement, and very different in the same period; its connection with the state of improvement is uncertain; and it is of this sort of uncertainty that I am here speaking.

WN-B01-C11-P226

한국어 번역

땅속에서 채굴하는 여러 광물과 금속, 특히 귀금속의 양을 늘리는 데서 인간 산업의 효과는 제한되어 있다기보다 전적으로 불확실한 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In increasing the quantity of the different minerals and metals which are drawn from the bowels of the earth, that of the more precious ones particularly, the efficacy of human industry seems not to be limited, but to be altogether uncertain.

WN-B01-C11-P227

한국어 번역

어떤 나라에서 발견되는 귀금속의 양은 그 나라 광산의 비옥함이나 빈약함 같은 위치 조건에 의해 제한되지 않는다. 광산이 전혀 없는 나라에도 귀금속은 흔히 풍부하다. 각 나라의 귀금속 양은 첫째 구매력, 곧 산업 상태와 토지·노동의 연간 생산물에 달리고, 둘째 상업 세계에 공급하는 광산의 비옥함이나 빈약함에 달린다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The quantity of the precious metals which is to be found in any country, is not limited by any thing in its local situation, such as the fertility or barrenness of its own mines. Those metals frequently abound in countries which possess no mines. Their quantity, in every particular country, seems to depend upon two different circumstances; first, upon its power of purchasing, upon the state of its industry, upon the annual produce of its land and labour, in consequence of which it can afford to employ a greater or a smaller quantity of labour and subsistence, in bringing or purchasing such superfluities as gold and silver, either from its own mines, or from those of other countries; and, secondly, upon the fertility or barrenness of the mines which may happen at any particular time to supply the commercial world with those metals. The quantity of those metals in the countries most remote from the mines, must be more or less affected by this fertility or barrenness, on account of the easy and cheap transportation of those metals, of their small bulk and great value. Their quantity in China and Indostan must have been more or less affected by the abundance of the mines of America.

WN-B01-C11-P228

한국어 번역

어떤 나라의 귀금속 양이 첫 번째 사정인 구매력에 달리는 한, 그 실질가격은 다른 사치품과 잉여품처럼 그 나라의 부와 개량과 함께 오르고 빈곤과 쇠퇴와 함께 내려갈 가능성이 크다. 노동과 생계수단을 많이 남길 수 있는 나라는 같은 양의 귀금속을 사기 위해 더 많은 노동과 생계수단을 지급할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

So far as their quantity in any particular country depends upon the former of those two circumstances (the power of purchasing), their real price, like that of all other luxuries and superfluities, is likely to rise with the wealth and improvement of the country, and to fall with its poverty and depression. Countries which have a great quantity of labour and subsistence to spare, can afford to purchase any particular quantity of those metals at the expense of a greater quantity of labour and subsistence, than countries which have less to spare.

WN-B01-C11-P229

한국어 번역

귀금속의 양이 두 번째 사정, 곧 세계시장에 공급하는 광산의 비옥함이나 빈약함에 달리는 한, 그 실질가격, 즉 구매하거나 교환할 수 있는 노동과 생계수단의 실제 양은 광산이 비옥할수록 낮아지고 빈약할수록 높아질 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

So far as their quantity in any particular country depends upon the latter of those two circumstances (the fertility or barrenness of the mines which happen to supply the commercial world), their real price, the real quantity of labour and subsistence which they will purchase or exchange for, will, no doubt, sink more or less in proportion to the fertility, and rise in proportion to the barrenness of those mines.

WN-B01-C11-P230

한국어 번역

그러나 특정 시기에 세계시장에 공급하는 광산의 비옥함이나 빈약함은 특정 나라의 산업 상태와 아무 관련이 없을 수 있다. 세계 전체의 산업 상태와도 반드시 연결되는 것은 아니다. 기술과 상업이 더 넓은 지역으로 퍼지면 새 광산 탐색도 넓어지지만, 새 광산의 발견과 기존 광산의 고갈은 여전히 우연에 크게 좌우된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The fertility or barrenness of the mines, however, which may happen at any particular time to supply the commercial world, is a circumstance which, it is evident, may have no sort of connection with the state of industry in a particular country. It seems even to have no very necessary connection with that of the world in general. As arts and commerce, indeed, gradually spread themselves over a greater and a greater part of the earth, the search for new mines, being extended over a wider surface, may have somewhat a better chance for being successful than when confined within narrower bounds. The discovery of new mines, however, as the old ones come to be gradually exhausted, is a matter of the greatest uncertainty, and such as no human skill or industry can insure. All indications, it is acknowledged, are doubtful; and the actual discovery and successful working of a new mine can alone ascertain the reality of its value, or even of its existence. In this search there seem to be no certain limits, either to the possible success, or to the possible disappointment of human industry. In the course of a century or two, it is possible that new mines may be discovered, more fertile than any that have ever yet been known; and it is just equally possible, that the most fertile mine then known may be more barren than any that was wrought before the discovery of the mines of America. Whether the one or the other of those two events may happen to take place, is of very little importance to the real wealth and prosperity of the world, to the real value of the annual produce of the land and labour of mankind. Its nominal value, the quantity of gold and silver by which this annual produce could be expressed or represented, would, no doubt, be very different; but its real value, the real quantity of labour which it could purchase or command, would be precisely the same. A shilling might, in the one case, represent no more labour than a penny does at present; and a penny, in the other, might represent as much as a shilling does now. But in the one case, he who had a shilling in his pocket would be no richer than he who has a penny at present; and in the other, he who had a penny would be just as rich as he who has a shilling now. The cheapness and abundance of gold and silver plate would be the sole advantage which the world could derive from the one event; and the dearness and scarcity of those trifling superfluities, the only inconveniency it could suffer from the other.

WN-B01-C11-P231

한국어 번역

고대의 화폐가격을 수집한 저자 대부분은 곡물과 일반 상품의 낮은 화폐가격, 다시 말해 금과 은의 높은 가치를 귀금속의 희소성뿐 아니라 당시 나라의 빈곤과 야만을 보여 주는 증거로 여겼다. 이 생각은 국부가 금과 은의 풍부함에 있다고 보는 정치경제 체계와 연결되어 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The greater part of the writers who have collected the money price of things in ancient times, seem to have considered the low money price of corn, and of goods in general, or, in other words, the high value of gold and silver, as a proof, not only of the scarcity of those metals, but of the poverty and barbarism of the country at the time when it took place. This notion is connected with the system of political economy, which represents national wealth as consisting in the abundance and national poverty in the scarcity, of gold and silver; a system which I shall endeavour to explain and examine at great length in the fourth book of this Inquiry. I shall only observe at present, that the high value of the precious metals can be no proof of the poverty or barbarism of any particular country at the time when it took place. It is a proof only of the barrenness of the mines which happened at that time to supply the commercial world. A poor country, as it cannot afford to buy more, so it can as little afford to pay dearer for gold and silver than a rich one; and the value of those metals, therefore, is not likely to be higher in the former than in the latter. In China, a country much richer than any part of Europe, the value of the precious metals is much higher than in any part of Europe. As the wealth of Europe, indeed, has increased greatly since the discovery of the mines of America, so the value of gold and silver has gradually diminished. This diminution of their value, however, has not been owing to the increase of the real wealth of Europe, of the annual produce of its land and labour, but to the accidental discovery of more abundant mines than any that were known before. The increase of the quantity of gold and silver in Europe, and the increase of its manufactures and agriculture, are two events which, though they have happened nearly about the same time, yet have arisen from very different causes, and have scarce any natural connection with one another. The one has arisen from a mere accident, in which neither prudence nor policy either had or could have any share; the other, from the fall of the feudal system, and from the establishment of a government which afforded to industry the only encouragement which it requires, some tolerable security that it shall enjoy the fruits of its own labour. Poland, where the feudal system still continues to take place, is at this day as beggarly a country as it was before the discovery of America. The money price of corn, however, has risen; the real value of the precious metals has fallen in Poland, in the same manner as in other parts of Europe. Their quantity, therefore, must have increased there as in other places, and nearly in the same proportion to the annual produce of its land and labour. This increase of the quantity of those metals, however, has not, it seems, increased that annual produce, has neither improved the manufactures and agriculture of the country, nor mended the circumstances of its inhabitants. Spain and Portugal, the countries which possess the mines, are, after Poland, perhaps the two most beggarly countries in Europe. The value of the precious metals, however, must be lower in Spain and Portugal than in any other part of Europe, as they come from those countries to all other parts of Europe, loaded, not only with a freight and an insurance, but with the expense of smuggling, their exportation being either prohibited or subjected to a duty. In proportion to the annual produce of the land and labour, therefore, their quantity must be greater in those countries than in any other part of Europe; those countries, however, are poorer than the greater part of Europe. Though the feudal system has been abolished in Spain and Portugal, it has not been succeeded by a much better.

WN-B01-C11-P232

한국어 번역

그러나 금과 은의 낮은 가치가 그것이 나타나는 나라의 부유함과 번영을 증명하지 않듯이, 높은 가치나 일반 상품 또는 곡물의 낮은 화폐가격도 그 나라의 빈곤과 야만을 증명하지 않는다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As the low value of gold and silver, therefore, is no proof of the wealth and flourishing state of the country where it takes place; so neither is their high value, or the low money price either of goods in general, or of corn in particular, any proof of its poverty and barbarism.

WN-B01-C11-P233

한국어 번역

일반 상품이나 곡물의 낮은 화폐가격은 시대의 빈곤과 야만을 증명하지 않지만, 소·가금·온갖 사냥감 같은 특정 상품이 곡물에 비해 매우 싼 것은 결정적인 증거다. 이는 첫째 그 상품이 곡물에 비해 매우 풍부하여 그것들이 차지한 토지가 곡물 재배지보다 훨씬 넓었음을, 둘째 그 생산물이 대부분의 경우 자연의 자생적 생산물이어서 인간 산업이 거의 필요하지 않았음을 분명히 보여 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But though the low money price, either of goods in general, or of corn in particular, be no proof of the poverty or barbarism of the times, the low money price of some particular sorts of goods, such as cattle, poultry, game of all kinds, etc. in proportion to that of corn, is a most decisive one. It clearly demonstrates, first, their great abundance in proportion to that of corn, and, consequently, the great extent of the land which they occupied in proportion to what was occupied by corn; and, secondly, the low value of this land in proportion to that of corn land, and, consequently, the uncultivated and unimproved state of the far greater part of the lands of the country. It clearly demonstrates, that the stock and population of the country did not bear the same proportion to the extent of its territory, which they commonly do in civilized countries; and that society was at that time, and in that country, but in its infancy. From the high or low money price, either of goods in general, or of corn in particular, we can infer only, that the mines, which at that time happened to supply the commercial world with gold and silver, were fertile or barren, not that the country was rich or poor. But from the high or low money price of some sorts of goods in proportion to that of others, we can infer, with a degree of probability that approaches almost to certainty, that it was rich or poor, that the greater part of its lands were improved or unimproved, and that it was either in a more or less barbarous state, or in a more or less civilized one.

WN-B01-C11-P234

한국어 번역

은 가치 하락만으로 생긴 화폐가격 상승은 모든 상품에 똑같이 영향을 주어, 은이 이전 가치의 3분의 1·4분의 1·5분의 1을 잃는 만큼 모든 가격을 같은 비율로 올렸을 것이다. 그러나 많은 논의의 대상이 된 식료품 가격 상승은 모든 식료품에 똑같이 나타나지 않는다. 현 세기 전체를 평균하면 곡물은 지난 세기보다 싸고, 정육·가금·사냥감 등은 훨씬 비싸다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Any rise in the money price of goods which proceeded altogether from the degradation of the value of silver, would affect all sorts of goods equally, and raise their price universally, a third, or a fourth, or a fifth part higher, according as silver happened to lose a third, or a fourth, or a fifth part of its former value. But the rise in the price of provisions, which has been the subject of so much reasoning and conversation, does not affect all sorts of provisions equally. Taking the course of the present century at an average, the price of corn, it is acknowledged, even by those who account for this rise by the degradation of the value of silver, has risen much less than that of some other sorts of provisions. The rise in the price of those other sorts of provisions, therefore, cannot be owing altogether to the degradation of the value of silver. Some other causes must be taken into the account; and those which have been above assigned, will, perhaps, without having recourse to the supposed degradation of the value of silver, sufficiently explain this rise in those particular sorts of provisions, of which the price has actually risen in proportion to that of corn.

WN-B01-C11-P235

한국어 번역

곡물 가격 자체는 최근의 이례적인 흉작들이 오기 전 현 세기 첫 64년 동안, 앞선 세기 마지막 64년보다 다소 낮았다. 이 사실은 윈저 시장 장부뿐 아니라 스코틀랜드 각 주의 공식 피어스 기록과 프랑스 여러 시장에서 부지런하고 충실하게 수집된 자료로도 확인된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As to the price of corn itself, it has, during the sixty-four first years of the present century, and before the late extraordinary course of bad seasons, been somewhat lower than it was during the sixty-four last years of the preceding century. This fact is attested, not only by the accounts of Windsor market, but by the public fiars of all the different counties of Scotland, and by the accounts of several different markets in France, which have been collected with great diligence and fidelity by Mr Messance, and by Mr Dupré de St Maur. The evidence is more complete than could well have been expected in a matter which is naturally so very difficult to be ascertained.

WN-B01-C11-P236

한국어 번역

최근 10~12년 동안의 높은 곡물 가격은 은 가치 하락을 가정하지 않아도 좋지 못한 계절만으로 충분히 설명된다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

As to the high price of corn during these last ten or twelve years, it can be sufficiently accounted for from the badness of the seasons, without supposing any degradation in the value of silver.

WN-B01-C11-P237

한국어 번역

따라서 은 가치가 계속 하락한다는 견해는 곡물 가격이나 다른 식료품 가격에 대한 건전한 관찰에 근거한 것이 아닌 듯하다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The opinion, therefore, that silver is continually sinking in its value, seems not to be founded upon any good observations, either upon the prices of corn, or upon those of other provisions.

WN-B01-C11-P238

한국어 번역

여기 제시한 설명에 따르더라도 같은 양의 은으로 오늘날 지난 세기 어느 시기보다 여러 식료품을 훨씬 적게 살 수 있다고 말할 수 있다. 그리고 그 변화가 해당 상품 가치의 상승 때문인지 은 가치 하락 때문인지 따지는 것은, 일정한 화폐수입만 가지고 시장에 가야 하는 사람에게는 아무 도움도 되지 않는 헛된 구별이라고 할 수도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The same quantity of silver, it may perhaps be said, will, in the present times, even according to the account which has been here given, purchase a much smaller quantity of several sorts of provisions than it would have done during some part of the last century; and to ascertain whether this change be owing to a rise in the value of those goods, or to a fall in the value of silver, is only to establish a vain and useless distinction, which can be of no sort of service to the man who has only a certain quantity of silver to go to market with, or a certain fixed revenue in money. I certainly do not pretend that the knowledge of this distinction will enable him to buy cheaper. It may not, however, upon that account be altogether useless.

WN-B01-C11-P239

한국어 번역

그러나 이 구별은 나라가 번영하고 있는지를 쉽게 증명해 준다는 점에서 공공에 유용할 수 있다. 일부 식료품 가격 상승이 전적으로 은 가치 하락 때문이라면, 그것은 아메리카 광산이 풍부하다는 사실만을 알려 준다. 그 나라의 실질부, 곧 토지와 노동의 연간 생산물은 포르투갈과 폴란드처럼 감소하고 있을 수도 있고, 유럽 대부분처럼 증가하고 있을 수도 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It may be of some use to the public, by affording an easy proof of the prosperous condition of the country. If the rise in the price of some sorts of provisions be owing altogether to a fall in the value of silver, it is owing to a circumstance, from which nothing can be inferred but the fertility of the American mines. The real wealth of the country, the annual produce of its land and labour, may, notwithstanding this circumstance, be either gradually declining, as in Portugal and Poland; or gradually advancing, as in most other parts of Europe. But if this rise in the price of some sorts of provisions be owing to a rise in the real value of the land which produces them, to its increased fertility, or, in consequence of more extended improvement and good cultivation, to its having been rendered fit for producing corn; it is owing to a circumstance which indicates, in the clearest manner, the prosperous and advancing state of the country. The land constitutes by far the greatest, the most important, and the most durable part of the wealth of every extensive country. It may surely be of some use, or, at least, it may give some satisfaction to the public, to have so decisive a proof of the increasing value of by far the greatest, the most important, and the most durable part of its wealth.

WN-B01-C11-P240

한국어 번역

이 구별은 하급 공무원 일부의 금전적 보수를 조절하는 데에도 유용할 수 있다. 일부 식료품 가격 상승이 은 가치 하락 때문이라면, 그 보수가 처음부터 지나치지 않았다면 하락 폭에 비례해 올려야 한다. 그렇지 않으면 실질보수가 줄어든다. 그러나 가격 상승이 나라의 발전으로 생긴 상품 자체 가치 상승 때문이라면, 그 보수를 얼마나 올려야 하는지는 더 세밀하게 판단해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It may, too, be of some use to the public, in regulating the pecuniary reward of some of its inferior servants. If this rise in the price of some sorts of provisions be owing to a fall in the value of silver, their pecuniary reward, provided it was not too large before, ought certainly to be augmented in proportion to the extent of this fall. If it is not augmented, their real recompence will evidently be so much diminished. But if this rise of price is owing to the increased value, in consequence of the improved fertility of the land which produces such provisions, it becomes a much nicer matter to judge, either in what proportion any pecuniary reward ought to be augmented, or whether it ought to be augmented at all. The extension of improvement and cultivation, as it necessarily raises more or less, in proportion to the price of corn, that of every sort of animal food, so it as necessarily lowers that of, I believe, every sort of vegetable food. It raises the price of animal food; because a great part of the land which produces it, being rendered fit for producing corn, must afford to the landlord and farmer the rent and profit of corn land. It lowers the price of vegetable food; because, by increasing the fertility of the land, it increases its abundance. The improvements of agriculture, too, introduce many sorts of vegetable food, which requiring less land, and not more labour than corn, come much cheaper to market. Such are potatoes and maize, or what is called Indian corn, the two most important improvements which the agriculture of Europe, perhaps, which Europe itself, has received from the great extension of its commerce and navigation. Many sorts of vegetable food, besides, which in the rude state of agriculture are confined to the kitchen-garden, and raised only by the spade, come, in its improved state, to be introduced into common fields, and to be raised by the plough; such as turnips, carrots, cabbages, etc. If, in the progress of improvement, therefore, the real price of one species of food necessarily rises, that of another as necessarily falls; and it becomes a matter of more nicety to judge how far the rise in the one may be compensated by the fall in the other. When the real price of butcher’s meat has once got to its height (which, with regard to every sort, except perhaps that of hogs flesh, it seems to have done through a great part of England more than a century ago), any rise which can afterwards happen in that of any other sort of animal food, cannot much affect the circumstances of the inferior ranks of people. The circumstances of the poor, through a great part of England, cannot surely be so much distressed by any rise in the price of poultry, fish, wild-fowl, or venison, as they must be relieved by the fall in that of potatoes.

WN-B01-C11-P241

한국어 번역

현재의 곡물 부족기에는 높은 곡물 가격이 가난한 사람들을 고통스럽게 한다. 그러나 곡물이 보통가격에 있는 적당한 풍년에는 다른 종류 원생산물의 자연스러운 가격 상승이 그들에게 큰 영향을 주지 않는다. 오히려 소금·비누·가죽·양초·맥아·맥주·에일 같은 일부 제조품에 세금이 부과되어 인위적으로 가격이 오른 데서 더 큰 부담을 겪을 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the present season of scarcity, the high price of corn no doubt distresses the poor. But in times of moderate plenty, when corn is at its ordinary or average price, the natural rise in the price of any other sort of rude produce cannot much affect them. They suffer more, perhaps, by the artificial rise which has been occasioned by taxes in the price of some manufactured commodities, as of salt, soap, leather, candles, malt, beer, ale, etc.

WN-B01-C11-P242

한국어 번역

발전이 제조품의 실질가격에 미치는 영향.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Effects of the Progress of Improvement upon the real Price of Manufactures.

WN-B01-C11-P243

한국어 번역

발전의 자연스러운 효과는 거의 모든 제조품의 실질가격을 점차 낮추는 것이다. 제조 노동의 가격은 아마 예외 없이 낮아진다. 더 나은 기계, 더 큰 숙련, 더 적절한 분업과 작업 배분 덕분에 특정 작업을 수행하는 데 필요한 노동량이 크게 줄기 때문이다. 사회가 번영하면 노동의 실질가격은 상당히 오르지만, 필요한 노동량 감소가 임금 상승을 대체로 충분히 상쇄한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures. That of the manufacturing workmanship diminishes, perhaps, in all of them without exception. In consequence of better machinery, of greater dexterity, and of a more proper division and distribution of work, all of which are the natural effects of improvement, a much smaller quantity of labour becomes requisite for executing any particular piece of work; and though, in consequence of the flourishing circumstances of the society, the real price of labour should rise very considerably, yet the great diminution of the quantity will generally much more than compensate the greatest rise which can happen in the price.

WN-B01-C11-P244

한국어 번역

다만 원료의 실질가격 상승이 작업 개선의 이점을 모두 넘어서는 몇몇 제조업도 있다. 목수·가구장이의 일과 거친 가구 제작에서는 토지 개량에 따른 황폐한 목재의 가격 상승이 좋은 기계와 숙련, 적절한 분업의 이점을 넘어설 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

There are, indeed, a few manufactures, in which the necessary rise in the real price of the rude materials will more than compensate all the advantages which improvement can introduce into the execution of the work. In carpenters’ and joiners’ work, and in the coarser sort of cabinet work, the necessary rise in the real price of barren timber, in consequence of the improvement of land, will more than compensate all the advantages which can be derived from the best machinery, the greatest dexterity, and the most proper division and distribution of work.

WN-B01-C11-P245

한국어 번역

그러나 원료의 실질가격이 전혀 오르지 않거나 많이 오르지 않는 모든 경우에는 제조품의 실질가격이 크게 내려간다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But in all cases in which the real price of the rude material either does not rise at all, or does not rise very much, that of the manufactured commodity sinks very considerably.

WN-B01-C11-P246

한국어 번역

이 가격 하락은 현 세기와 앞선 세기 동안 거친 금속을 재료로 쓰는 제조업에서 가장 두드러졌다. 지난 세기 중엽에 20파운드를 주어야 했던 것보다 더 나은 시계 장치를 이제는 20실링에 살 수도 있다. 칼붙이·자물쇠·거친 금속 완구와 버밍엄·셰필드 제품에서도 같은 기간 가격은 크게 내리고 품질은 크게 좋아졌다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

This diminution of price has, in the course of the present and preceding century, been most remarkable in those manufactures of which the materials are the coarser metals. A better movement of a watch, than about the middle of the last century could have been bought for twenty pounds, may now perhaps be had for twenty shillings. In the work of cutlers and locksmiths, in all the toys which are made of the coarser metals, and in all those goods which are commonly known by the name of Birmingham and Sheffield ware, there has been, during the same period, a very great reduction of price, though not altogether so great as in watch-work. It has, however, been sufficient to astonish the workmen of every other part of Europe, who in many cases acknowledge that they can produce no work of equal goodness for double or even for triple the price. There are perhaps no manufactures, in which the division of labour can be carried further, or in which the machinery employed admits of a greater variety of improvements, than those of which the materials are the coarser metals.

WN-B01-C11-P247

한국어 번역

의복 제조업에서는 같은 기간 이처럼 뚜렷한 가격 하락이 없었다. 최고급 직물은 스페인산 양모 가격 상승 때문에 품질에 비례한 가격이 오히려 조금 올랐다고 한다. 영국산 양모로 만드는 요크셔 직물은 현 세기 동안 품질에 비례한 가격이 상당히 내렸다고 하지만, 최근 25~30년의 품질 향상이 너무 커서 그 하락을 확실히 판단하기 어렵다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the clothing manufacture there has, during the same period, been no such sensible reduction of price. The price of superfine cloth, I have been assured, on the contrary, has, within these five-and-twenty or thirty years, risen somewhat in proportion to its quality, owing, it was said, to a considerable rise in the price of the material, which consists altogether of Spanish wool. That of the Yorkshire cloth, which is made altogether of English wool, is said, indeed, during the course of the present century, to have fallen a good deal in proportion to its quality. Quality, however, is so very disputable a matter, that I look upon all information of this kind as somewhat uncertain. In the clothing manufacture, the division of labour is nearly the same now as it was a century ago, and the machinery employed is not very different. There may, however, have been some small improvements in both, which may have occasioned some reduction of price.

WN-B01-C11-P248

한국어 번역

그러나 오늘날의 가격을 분업이 덜 이루어지고 기계도 훨씬 불완전했던 15세기 말과 비교하면, 이 제조업의 가격 하락은 훨씬 분명하게 드러난다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

But the reduction will appear much more sensible and undeniable, if we compare the price of this manufacture in the present times with what it was in a much remoter period, towards the end of the fifteenth century, when the labour was probably much less subdivided, and the machinery employed much more imperfect, than it is at present.

WN-B01-C11-P249

한국어 번역

1487년 헨리 7세 4년 법은 최고급 진홍색이나 다른 최고급 염색 직물을 폭넓은 1야드당 16실링보다 비싸게 소매한 사람에게 야드마다 40실링의 벌금을 부과했다. 당시 16실링은 오늘날 약 24실링과 같은 은을 포함했으므로 최고급 직물 1야드 가격으로 부당하지 않다고 여겨졌다. 이는 사치규제법이므로 오히려 당시의 최고가격으로 볼 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1487, being the 4th of Henry VII., it was enacted, that “whosoever shall sell by retail a broad yard of the finest scarlet grained, or of other grained cloth of the finest making, above sixteen shillings, shall forfeit forty shillings for every yard so sold.” Sixteen shillings, therefore, containing about the same quantity of silver as four-and-twenty shillings of our present money, was, at that time, reckoned not an unreasonable price for a yard of the finest cloth; and as this is a sumptuary law, such cloth, it is probable, had usually been sold somewhat dearer. A guinea may be reckoned the highest price in the present times. Even though the quality of the cloths, therefore, should be supposed equal, and that of the present times is most probably much superior, yet, even upon this supposition, the money price of the finest cloth appears to have been considerably reduced since the end of the fifteenth century. But its real price has been much more reduced. Six shillings and eightpence was then, and long afterwards, reckoned the average price of a quarter of wheat. Sixteen shillings, therefore, was the price of two quarters and more than three bushels of wheat. Valuing a quarter of wheat in the present times at eight-and-twenty shillings, the real price of a yard of fine cloth must, in those times, have been equal to at least three pounds six shillings and sixpence of our present money. The man who bought it must have parted with the command of a quantity of labour and subsistence equal to what that sum would purchase in the present times.

WN-B01-C11-P250

한국어 번역

거친 직물의 실질가격도 상당히 낮아졌지만, 고급 직물만큼 크게 낮아지지는 않았다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The reduction in the real price of the coarse manufacture, though considerable, has not been so great as in that of the fine.

WN-B01-C11-P251

한국어 번역

1463년 에드워드 4세 3년 법은 도시나 자치구 밖에 사는 농업 하인·보통 노동자·장인의 하인이 폭넓은 1야드당 2실링을 넘는 직물을 옷으로 입지 못하게 했다. 당시 2실링은 오늘날 약 4실링과 같은 은을 포함했다. 그러나 오늘날 야드당 4실링에 팔리는 요크셔 직물은 그 시대 같은 가격으로 만들 수 있던 어떤 직물보다 훨씬 뛰어날 가능성이 크다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In 1463, being the 3rd of Edward IV. it was enacted, that “no servant in husbandry nor common labourer, nor servant to any artificer inhabiting out of a city or burgh, shall use or wear in their clothing any cloth above two shillings the broad yard.” In the 3rd of Edward IV., two shillings contained very nearly the same quantity of silver as four of our present money. But the Yorkshire cloth which is now sold at four shillings the yard, is probably much superior to any that was then made for the wearing of the very poorest order of common servants. Even the money price of their clothing, therefore, may, in proportion to the quality, be somewhat cheaper in the present than it was in those ancient times. The real price is certainly a good deal cheaper. Tenpence was then reckoned what is called the moderate and reasonable price of a bushel of wheat. Two shillings, therefore, was the price of two bushels and near two pecks of wheat, which in the present times, at three shillings and sixpence the bushel, would be worth eight shillings and ninepence. For a yard of this cloth the poor servant must have parted with the power of purchasing a quantity of subsistence equal to what eight shillings and ninepence would purchase in the present times. This is a sumptuary law, too, restraining the luxury and extravagance of the poor. Their clothing, therefore, had commonly been much more expensive.

WN-B01-C11-P252

한국어 번역

같은 법은 이 계층의 사람들이 한 켤레에 14펜스를 넘는 양말을 신는 것도 금지했다. 이는 오늘날 약 28펜스와 같지만, 당시 14펜스는 밀 1부셸과 거의 2펙의 가격이었다. 오늘날 부셸당 3실링 6펜스로 계산하면 5실링 3펜스다. 지금이라면 가난한 하인에게 매우 비싼 양말로 여겨질 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The same order of people are, by the same law, prohibited from wearing hose, of which the price should exceed fourteen-pence the pair, equal to about eight-and-twenty pence of our present money. But fourteen-pence was in those times the price of a bushel and near two pecks of wheat; which in the present times, at three and sixpence the bushel, would cost five shillings and threepence. We should in the present times consider this as a very high price for a pair of stockings to a servant of the poorest and lowest order. He must however, in those times, have paid what was really equivalent to this price for them.

WN-B01-C11-P253

한국어 번역

에드워드 4세 시대에는 유럽 어디에서도 뜨개질 양말 기술이 알려지지 않았을 가능성이 크다. 양말은 보통 천으로 만들었고, 이것이 비쌌던 원인 가운데 하나였을 것이다. 잉글랜드에서 처음 양말을 신은 사람은 엘리자베스 여왕이라고 하며, 스페인 대사가 선물했다고 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

In the time of Edward IV. the art of knitting stockings was probably not known in any part of Europe. Their hose were made of common cloth, which may have been one of the causes of their dearness. The first person that wore stockings in England is said to have been Queen Elizabeth. She received them as a present from the Spanish ambassador.

WN-B01-C11-P254

한국어 번역

거친 모직과 고급 모직 모두에서 당시의 기계는 오늘날보다 훨씬 불완전했다. 그 뒤 세 가지 큰 개선이 이루어졌다. 첫째 물레가 물레가락과 손방추를 대신했고, 둘째 실 감는 기계가 도입되었으며, 셋째 축융기가 생겼다. 이 밖에도 수많은 작은 개선이 있었을 것이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Both in the coarse and in the fine woollen manufacture, the machinery employed was much more imperfect in those ancient, than it is in the present times. It has since received three very capital improvements, besides, probably, many smaller ones, of which it may be difficult to ascertain either the number or the importance. The three capital improvements are, first, the exchange of the rock and spindle for the spinning-wheel, which, with the same quantity of labour, will perform more than double the quantity of work. Secondly, the use of several very ingenious machines, which facilitate and abridge, in a still greater proportion, the winding of the worsted and woollen yarn, or the proper arrangement of the warp and woof before they are put into the loom; an operation which, previous to the invention of those machines, must have been extremely tedious and troublesome. Thirdly, the employment of the fulling-mill for thickening the cloth, instead of treading it in water. Neither wind nor water mills of any kind were known in England so early as the beginning of the sixteenth century, nor, so far as I know, in any other part of Europe north of the Alps. They had been introduced into Italy some time before.

WN-B01-C11-P255

한국어 번역

이러한 사정을 고려하면 고대에 거친 직물과 고급 직물의 실질가격이 오늘날보다 훨씬 높았던 이유를 어느 정도 설명할 수 있다. 상품을 시장에 내놓는 데 더 많은 노동이 들었으므로, 시장에서는 더 많은 노동의 생산물과 교환되어야 했다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The consideration of these circumstances may, perhaps, in some measure, explain to us why the real price both of the coarse and of the fine manufacture was so much higher in those ancient than it is in the present times. It cost a greater quantity of labour to bring the goods to market. When they were brought thither, therefore, they must have purchased, or exchanged for the price of, a greater quantity.

WN-B01-C11-P256

한국어 번역

거친 직물은 당시 잉글랜드에서 예술과 제조업이 초기인 나라에서 흔히 볼 수 있는 방식으로 생산되었을 것이다. 거의 모든 가정의 구성원이 다른 일이 없을 때 간헐적으로 맡는 가내 제조업이었으며, 누구에게도 주된 생업은 아니었다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The coarse manufacture probably was, in those ancient times, carried on in England in the same manner as it always has been in countries where arts and manufactures are in their infancy. It was probably a household manufacture, in which every different part of the work was occasionally performed by all the different members of almost every private family, but so as to be their work only when they had nothing else to do, and not to be the principal business from which any of them derived the greater part of their subsistence. The work which is performed in this manner, it has already been observed, comes always much cheaper to market than that which is the principal or sole fund of the workman’s subsistence. The fine manufacture, on the other hand, was not, in those times, carried on in England, but in the rich and commercial country of Flanders; and it was probably conducted then, in the same manner as now, by people who derived the whole, or the principal part of their subsistence from it. It was, besides, a foreign manufacture, and must have paid some duty, the ancient custom of tonnage and poundage at least, to the king. This duty, indeed, would not probably be very great. It was not then the policy of Europe to restrain, by high duties, the importation of foreign manufactures, but rather to encourage it, in order that merchants might be enabled to supply, at as easy a rate as possible, the great men with the conveniencies and luxuries which they wanted, and which the industry of their own country could not afford them.

WN-B01-C11-P257

한국어 번역

이러한 사정은 고대에 고급 직물에 비해 거친 직물의 실질가격이 오늘날보다 훨씬 낮았던 이유도 어느 정도 설명해 준다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The consideration of these circumstances may, perhaps, in some measure explain to us why, in those ancient times, the real price of the coarse manufacture was, in proportion to that of the fine, so much lower than in the present times.

WN-B01-C11-P258

한국어 번역

이 긴 장을 마치며 지적할 것은 사회의 모든 발전이 직접 또는 간접으로 토지의 실질지대를 높이고 지주의 실질부와 다른 사람의 노동 또는 노동 생산물을 구매할 힘을 증가시킨다는 점이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

I shall conclude this very long chapter with observing, that every improvement in the circumstances of the society tends, either directly or indirectly, to raise the real rent of land to increase the real wealth of the landlord, his power of purchasing the labour, or the produce of the labour of other people.

WN-B01-C11-P259

한국어 번역

개량과 경작의 확대는 지대를 직접 높인다. 생산물이 늘면 지주의 몫도 반드시 늘기 때문이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The extension of improvement and cultivation tends to raise it directly. The landlord’s share of the produce necessarily increases with the increase of the produce.

WN-B01-C11-P260

한국어 번역

토지 원생산물 일부의 실질가격 상승은 처음에는 개량과 경작 확대의 결과이고, 뒤에는 그 확대를 더 촉진하는 원인이 된다. 예컨대 가축 가격 상승은 토지 지대를 직접, 그리고 더 큰 비율로 높인다. 지주의 몫의 실질가치뿐 아니라 생산물에서 그에게 돌아가는 비율도 함께 높아진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

That rise in the real price of those parts of the rude produce of land, which is first the effect of the extended improvement and cultivation, and afterwards the cause of their being still further extended, the rise in the price of cattle, for example, tends, too, to raise the rent of land directly, and in a still greater proportion. The real value of the landlord’s share, his real command of the labour of other people, not only rises with the real value of the produce, but the proportion of his share to the whole produce rises with it.

WN-B01-C11-P261

한국어 번역

그 생산물은 실질가격이 오른 뒤에도 거두는 데 이전보다 더 많은 노동을 필요로 하지 않는다. 따라서 더 작은 비율만으로도 그 노동을 고용한 자본을 통상 이윤과 함께 보충할 수 있고, 더 큰 비율이 지주에게 돌아가야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

That produce, after the rise in its real price, requires no more labour to collect it than before. A smaller proportion of it will, therefore, be sufficient to replace, with the ordinary profit, the stock which employs that labour. A greater proportion of it must consequently belong to the landlord.

WN-B01-C11-P262

한국어 번역

제조품의 실질가격을 직접 낮추는 모든 노동생산력의 향상은 간접적으로 토지의 실질지대를 높인다. 지주는 자기 소비를 넘는 원생산물이나 그 가격을 제조품과 교환한다. 제조품의 실질가격을 낮추는 것은 원생산물의 상대가치를 높여, 같은 양으로 더 많은 제조품을 살 수 있게 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

All those improvements in the productive powers of labour, which tend directly to reduce the rent price of manufactures, tend indirectly to raise the real rent of land. The landlord exchanges that part of his rude produce, which is over and above his own consumption, or, what comes to the same thing, the price of that part of it, for manufactured produce. Whatever reduces the real price of the latter, raises that of the former. An equal quantity of the former becomes thereby equivalent to a greater quantity of the latter; and the landlord is enabled to purchase a greater quantity of the conveniencies, ornaments, or luxuries which he has occasion for.

WN-B01-C11-P263

한국어 번역

사회의 실질부가 증가하고 유용한 노동의 양이 늘어날 때마다 토지의 실질지대도 간접적으로 오른다. 그 노동의 일부가 자연스럽게 토지에 투입되고 더 많은 사람과 가축이 경작에 쓰이며, 투입 자본과 함께 생산물과 지대가 증가한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

Every increase in the real wealth of the society, every increase in the quantity of useful labour employed within it, tends indirectly to raise the real rent of land. A certain proportion of this labour naturally goes to the land. A greater number of men and cattle are employed in its cultivation, the produce increases with the increase of the stock which is thus employed in raising it, and the rent increases with the produce.

WN-B01-C11-P264

한국어 번역

반대로 경작과 개량의 방치, 토지 원생산물 일부의 실질가격 하락, 제조기술과 산업 쇠퇴에 따른 제조품 실질가격 상승, 사회 실질부의 감소는 모두 토지의 실질지대를 낮추고 지주의 실질부와 구매력을 줄인다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The contrary circumstances, the neglect of cultivation and improvement, the fall in the real price of any part of the rude produce of land, the rise in the real price of manufactures from the decay of manufacturing art and industry, the declension of the real wealth of the society, all tend, on the other hand, to lower the real rent of land, to reduce the real wealth of the landlord, to diminish his power of purchasing either the labour, or the produce of the labour, of other people.

WN-B01-C11-P265

한국어 번역

각 나라의 토지와 노동의 연간 총생산물, 곧 그 생산물의 총가격은 자연스럽게 토지 지대·노동 임금·자본 이윤의 세 부분으로 나뉘며, 지대로 사는 사람·임금으로 사는 사람·이윤으로 사는 사람이라는 세 계층의 수입이 된다. 이들은 모든 문명사회의 크고 근원적인 구성 계층이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The whole annual produce of the land and labour of every country, or, what comes to the same thing, the whole price of that annual produce, naturally divides itself, it has already been observed, into three parts; the rent of land, the wages of labour, and the profits of stock; and constitutes a revenue to three different orders of people; to those who live by rent, to those who live by wages, and to those who live by profit. These are the three great, original, and constituent, orders of every civilized society, from whose revenue that of every other order is ultimately derived.

WN-B01-C11-P266

한국어 번역

첫 번째 계층의 이해관계는 사회 전체의 이익과 엄격하고 분리할 수 없게 연결되어 있다. 사회의 이익을 촉진하거나 방해하는 것은 그들의 이익도 촉진하거나 방해한다. 그러나 지주는 대체로 구상이나 지식이 부족해 공공정책의 결과를 제대로 이해하지 못할 수 있다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The interest of the first of those three great orders, it appears from what has been just now said, is strictly and inseparably connected with the general interest of the society. Whatever either promotes or obstructs the one, necessarily promotes or obstructs the other. When the public deliberates concerning any regulation of commerce or police, the proprietors of land never can mislead it, with a view to promote the interest of their own particular order; at least, if they have any tolerable knowledge of that interest. They are, indeed, too often defective in this tolerable knowledge. They are the only one of the three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence which is the natural effect of the ease and security of their situation, renders them too often, not only ignorant, but incapable of that application of mind, which is necessary in order to foresee and understand the consequence of any public regulation.

WN-B01-C11-P267

한국어 번역

임금으로 사는 두 번째 계층의 이해관계도 사회 전체의 이익과 밀접하다. 노동 수요가 계속 늘고 고용량이 해마다 크게 증가할 때 임금은 가장 높다. 사회의 실질부가 정체하면 임금은 가족을 유지할 최소 수준으로 곧 내려가고, 쇠퇴하면 그보다도 낮아진다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

The interest of the second order, that of those who live by wages, is as strictly connected with the interest of the society as that of the first. The wages of the labourer, it has already been shewn, are never so high as when the demand for labour is continually rising, or when the quantity employed is every year increasing considerably. When this real wealth of the society becomes stationary, his wages are soon reduced to what is barely enough to enable him to bring up a family, or to continue the race of labourers. When the society declines, they fall even below this. The order of proprietors may perhaps gain more by the prosperity of the society than that of labourers; but there is no order that suffers so cruelly from its decline. But though the interest of the labourer is strictly connected with that of the society, he is incapable either of comprehending that interest, or of understanding its connexion with his own. His condition leaves him no time to receive the necessary information, and his education and habits are commonly such as to render him unfit to judge, even though he was fully informed. In the public deliberations, therefore, his voice is little heard, and less regarded; except upon particular occasions, when his clamour is animated, set on, and supported by his employers, not for his, but their own particular purposes.

WN-B01-C11-P268

한국어 번역

그들의 고용주는 이윤으로 사는 세 번째 계층을 이룬다. 이윤을 위해 사용되는 자본이 사회의 유용한 노동 대부분을 움직이며, 자본가의 계획과 사업이 노동의 중요한 활동을 지휘한다. 그러나 이윤율은 지대와 임금처럼 사회의 번영과 함께 오르고 쇠퇴와 함께 내리지 않는다. 오히려 부유한 나라에서 낮고 가난한 나라에서 높다. 따라서 이 계층의 이해관계는 다른 두 계층보다 공공의 이익과 덜 일치하며, 그들의 제안은 특히 주의 깊게 검토해야 한다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

His employers constitute the third order, that of those who live by profit. It is the stock that is employed for the sake of profit, which puts into motion the greater part of the useful labour of every society. The plans and projects of the employers of stock regulate and direct all the most important operation of labour, and profit is the end proposed by all those plans and projects. But the rate of profit does not, like rent and wages, rise with the prosperity, and fall with the declension of the society. On the contrary, it is naturally low in rich, and high in poor countries, and it is always highest in the countries which are going fastest to ruin. The interest of this third order, therefore, has not the same connexion with the general interest of the society, as that of the other two. Merchants and master manufacturers are, in this order, the two classes of people who commonly employ the largest capitals, and who by their wealth draw to themselves the greatest share of the public consideration. As during their whole lives they are engaged in plans and projects, they have frequently more acuteness of understanding than the greater part of country gentlemen. As their thoughts, however, are commonly exercised rather about the interest of their own particular branch of business. than about that of the society, their judgment, even when given with the greatest candour (which it has not been upon every occasion), is much more to be depended upon with regard to the former of those two objects, than with regard to the latter. Their superiority over the country gentleman is, not so much in their knowledge of the public interest, as in their having a better knowledge of their own interest than he has of his. It is by this superior knowledge of their own interest that they have frequently imposed upon his generosity, and persuaded him to give up both his own interest and that of the public, from a very simple but honest conviction, that their interest, and not his, was the interest of the public. The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market, and to narrow the competition, is always the interest of the dealers. To widen the market may frequently be agreeable enough to the interest of the public; but to narrow the competition must always be against it, and can only serve to enable the dealers, by raising their profits above what they naturally would be, to levy, for their own benefit, an absurd tax upon the rest of their fellow-citizens. The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.

WN-B01-C11-P269

한국어 번역

밀 가격.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

# PRICES OF WHEAT

WN-B01-C11-P270

한국어 번역

1595년부터 1764년까지 윈저 시장에서 성모영보일과 미카엘 축일에 거래된 최고급 밀 9부셸 한 쿼터의 가격. 각 연도의 가격은 두 시장일의 최고가격 평균이다.

ENGLISH ORIGINAL 영문 원문 펼치기·접기

Original

PRICES OF THE QUARTER OF NINE BUSHELS OF THE BEST OR HIGHEST PRICED WHEAT AT WINDSOR MARKET, ON LADY DAY AND MICHAELMAS, FROM 1595 TO 1764 BOTH INCLUSIVE; THE PRICE OF EACH YEAR BEING THE MEDIUM BETWEEN THE HIGHEST PRICES OF THESE TWO MARKET DAYS.