Note {80} — COMPETITION.

Adam Smith. “Wealth of Nations” I., McCulloch’s edition in one volume, sect. 8, p. 36: “The wear and tear of a slave, it has been said, is at the expense of his master, but that of a free servant is at his own expense. The wear and tear of the latter, however, is, in reality, as much at the expense of his master as that of the former. The wages paid to journeymen and servants of every kind, must be such as may enable them, one with another, to continue the race of journeymen and servants, according as the increasing, diminishing, or stationary demand of the society may happen to require. But though the wear and tear of a free servant be equally at the expense of his master, it generally costs him much less than that of a slave. The fund for replacing or repairing, if I may say so, the wear and tear of the slave, is commonly managed by a negligent master or careless overseer.”