THE WEALTH 0 L' NATIONS.

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at an average, the principle of frugality seems not only topredominate, but to predominate very 'greatly.

With regard to misconduct, the number of prudent andsuccessful undertakings is everywhere much greater thanthat of injudicious and unsuccessful ones. After all our com-plaint of the frequency of bankruptcies, the unhappy menwho fall into this misfortune make but a very small part ofthe whole number engaged in trade, and all other sorts ofbusiness; not much more perhaps than one in a thousand.Bankruptcy is perhaps the greatest and most humiliating cala-mity which can befal an innocent man. The greater part ofmen, therefore, are sufficiently careful to avoid it. Some, in-deed, do not avoid it; as some do not avoid the gallows.

Great nations are never impoverished by private, thoughthey sometimes are by public prodigality and misconduct.The whole, or almost the whole public revenue, is in mostcountries employed in maintaining unproductive hands.Such are the people who compose a numerous and splendidcourt, a great ecclesiastical establishment, great fleets andarmies, who in time of peace produce nothing, and in timeof war acquire nothing which can compensate the expenseof maintaining them, even while the war lasts. Such people,as they themselves produce nothing, are all maintained bythe produce of other men’s labour. When multiplied, there-fore, to an unnecessary number, they may in a particularyear consume so great a share of this produce, as not toleave a sufficiency for maintaining the productive labourers,who should reproduce it next year. The next year’s produce,therefore, will be less than that of the foregoing, and if thesame disorder should continue, that of the third year willbe still less than that of the second. Those unproductivehands, who should be maintained by a part only of the sparerevenue of the people, may consume so great a share of theirwhole revenue, and thereby oblige so great a number to en-croach upon their capitals, upon the funds destined for themaintenance of productive labour, that all the frugality andgood conduct of individuals may not be able to compensatethe waste and degradation of produce occasioned by thisviolent and forced encroachment.

This frugality and good conduct, however, is upon mostoccasions, it appears from experience, sufficient to compen-sate, not only the private-prodigality and misconduct of indi-viduals, but the public extravagance of government. The