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Page 568 of 2651

Author: Adam Smith

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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.

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