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Page 555 of 2651

Author: Adam Smith

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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.

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