Book · An Inquiry into the Wealth of Nations
Page 616 of 2651
Author: Adam Smith
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Without some increase of stock, there can be scarce any
improvement of land, but there can be no considerable increase of
stock, but in consequence of a considerable improvement of land;
because otherwise the land could not maintain it. These natural
obstructions to the establishment of a better system, cannot be
removed but by a long course of frugality and industry; and half
a century or a century more, perhaps, must pass away before the
old system, which is wearing out gradually, can be completely
abolished through all the different parts of the country. Of all
the commercial advantages, however, which Scotland has derived
from the Union with England, this rise in the price of cattle is,
perhaps, the greatest. It has not only raised the value of all
highland estates, but it has, perhaps, been the principal cause
of the improvement of the low country.
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