Note i-232 — INTRODUCTION
Reading edition
Writings, II, 313 (July 16, 1747). See also Note Respecting Trade and Manufactures, London, July 7, 1767 (Sparks, II, 366):
"Suppose a country, X, with three manufactures, as cloth, silk, iron, supplying three other countries. A, B, C, but is desirous of increasing the vent, and raising the price of cloth in favor of her own clothiers.
In order to do this, she forbids the importation of foreign cloth from A.
A, in return, forbids silks from X.
Then the silk-workers complain of a decay of trade.
And X, to content them, forbids silks from B.
B, in return, forbids iron ware from X.
Then the iron-workers complain of decay.
And X forbids the importation of iron from C.
C, in return, forbids cloth from X.
What is got by all these prohibitions?
Answer.—All four find their common stock of the enjoyments and conveniences of life diminished."