That A Joint Stock Company Should Be

A Monopoly Granted Either To An Individual Or To A Trading Company Has The Same Effect As A Secret In Trade Or Manufactures. The Monopolists, By Keeping The Market Constantly Understocked, By Never Fully Supplying The Effectual Demand, Sell Their Commodities Much Above The Natural Price, And Raise Their Emoluments, Whether They Consist In Wages Or Profit, Greatly Above Their Natural Rate.

The Property Which Every Man Has In His Own Labour, As It Is The Original Foundation Of All Other Property, So It Is The Most Sacred And Inviolable.

Every Individual Is Continually Exerting Himself To Find Out The Most Advantageous Employment For Whatever Capital He Can Command. It Is His Own Advantage, Indeed, And Not That Of The Society Which He Has In View. But The Study Of His Own Advantage Naturally, Or Rather Necessarily, Leads Him To Prefer That Employment Which Is Most Advantageous To Society... He Intends Only His Own Gain, And He Is In This, As In Many Other Cases, Led By An Invisible Hand To Promote An End Which Was Not Part Of His Intention

The Liberal Reward Of Labor, Therefore, As It Is The Necessary Effect, So It Is The Natural Symptom Of Increasing National Wealth. The Scanty Maintenance Of The Laboring Poor, On The Other Hand, Is The Natural Symptom That Things Are At A Stand, And Their Starving Condition That They Going Backwards Fast.

The Subjects Of Every State Ought To Contribute Towards The Support Of The Government, As Nearly As Possible, In Proportion To Their Respective Abilities.