Page:The wealth of nations, volume 3.djvu/312

 half the duties imposed by the old subsidy upon importation are drawn back upon exportation; but the whole of those imposed by the latter subsidies and other imposts are, upon the greater part of the goods, drawn back in the same manner. This growing favor of exportation, and discouragement of importation, have suffered only a few exceptions, which chiefly concern the materials of some manufactures. These, our merchants and manufacturers are willing should come as cheap as possible to themselves, and as dear as possible to their rivals and competitors in other countries. Foreign materials are, upon this account, sometimes allowed to be imported duty free; Spanish wool, for example, flax and raw linen yarn. The exportation of the materials of home produce, and of those which are the particular produce of our colonies, has sometimes been prohibited, and sometimes subjected to higher duties. The exportation of English wool has been prohibited. That of beaver skins, of beaver wool, and of gum-senega, has been subjected to higher duties; Great Britain, by the conquest of Canada and Senegal, having got almost the monopoly of those commodities.

That the mercantile system has not been very favorable to the revenue of the great body of the people, to the annual produce of the land and labor of the country, I have endeavored to show in the Fourth Book of this Inquiry. It seems not to have been more favorable to the revenue of the sovereign; so far at least as that revenue depends upon the duties of customs.

In consequence of that system, the importation of several sorts of goods has been prohibited altogether. This prohibition has in some cases entirely prevented, and in others has very much diminished the importation of those com-