ABSTRACT
In regard to the monopoly which the rich country would thus acquire over a poor one, in the sale of its manufactures, the fact must be acknowledged; but the consequences supposed to result from it, may be obviated to such a degree, as to prevent any dangers arising from it. True it is, that caeteris paribus, the rich industrious country would always undersell the poor one; and by that means attract the trade of all poorer countries to itself;—but it is equally true, that if either of these poor countries hath any peculiar produce of its own, it may prohibit its exportation till it be wrought up into a complete manufacture. The last objection of Mr Hume's was, That as the poorer country, by having wages and raw materials cheaper, would certainly undersell the rich one in the coarse and more imperfect manufactures, so likewise it would from thence gradually ascend to others.
