THE WEALTH OF NATION'S.

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prime cost of bread and butcher’s meat is greater in the greattown than in the country village; and, though the pro tit isless, therefore they are not always cheaper there, but oftenequally cheap. In such articles as bread and butcher’s meat,the same cause, which diminishes apparent profit, increasesprime cost. The extent of the market, by giving employmentto greater stocks, diminishes apparentprofit; but by requiringsupplies from a greater distance, it increases prime cost. Thisdiminution of the one and increase of the other seem, in mostcases, nearly to counter-balance one another; which is pro-bably the reason that, though the prices of corn and cattleare commonly very different in different parts of the kingdom,those of bread and butcher’s meat are generally very nearlythe same through the greater part of it.

Though the profits of stock both in the wholesale and re-tail trade are generally less in the capital than in small townsand country vill ages, yet great fortunes are frequently acquiredfrom small beginnings in the former, and scarce ever in thelatter. In small towns and country villages, on account of thenarrowness of the market, trade cannot always be extended asstock extends. In such places, therefore, though the rate ofa particular person’s profits may be very high, the sum oramount of them can never be very great, nor consequentlythat of his annual accumulation. In great towns, on the con-trary, trade can be extended as stock increases, and the creditof a frugal and thriving man increases much faster than hisstock. His trade is extended in proportion to the amount ofboth, and the sum or amount of his profits is in proportion tothe extent of his trade, and his annual accumulation in propor-tion to the amount of his profits. It seldom happens, how-ever, that great fortunes are made even in great towns by anyone regular, established, and well-known branch of business,but in consequenceof along lifeof industry, frugality, and at-tention. Sudden fortunes, indeed, are sometimes made in suchplaces by what is called the trade of speculation. The specu-lative merchant exercises no one regular, established, or well-known branch of business. He is a corn merchant this year,and a wine merchant the next, and a sugar, tobacco, or teamerchant the year after. He enters into every trade, when heforesees that it is likely to be more than commonly profitable,and he cpiits it when he foresees that its profits are likely tore turn to the level of other trades. His profits and losses,therefore, can bear no regular proportion to those of any one