doubt suffer very considerably. That part of his capital
which had usually been employed in purchasing materials
and in paying his workmen, might, without much difficulty,
perhaps, find another employment. But that part of it which
was fixed in workhouses, and in the instruments of trade,
could scarce be disposed of without considerable loss. The
equitable regard, therefore, to his interest requires that
changes of this kind should never be introduced suddenly,
but slowly, gradually, and after a very long warning. The
legislature, were it possible that its deliberations could be
always directed, not by the clamorous importunity of partial
interests, but by an extensive view of the general good,
ought upon this very account, perhaps, to be particularly
careful neither to establish any new monopolies of this kind,
nor to extend further those which are already established.
Every such regulation introduces some degree of real dis-
order into the constitution of the state, which it will be diffi-
cult afterwards to cure without occasioning another disorder.

How far it may be proper to impose taxes upon the im-
portation of foreign goods, in order, not to prevent their
importation, but to raise a revenue for government, I shall
consider hereafter when I come to treat of taxes. Taxes
imposed with a view to prevent, or even to diminish importa-
tion, are evidently as destructive of the revenue of the cus-
toms as of the freedom of trade.

-369-