W. of N., Book I, chap. vi; vol. I. p

31. W. of N., Book I, chap. vu ; vol. I, pp. 60-1 : In some employments the same quantity of industry will in différent years produce very différent quantities of commodilies; while in othci's it will produce always the same, or very nearly the same... It is only the average produce of the one species of industry which can be suitcd in any respect to the effectuai demand. — Book I, chap. vi; vol. I, pp. 47-8 : The merchant importera (of gold and silver), like ail other merchants \ve may believe, endeavour as wcll as they can, to suit their occasional importations to what they judge is likciy to be the immédiate demand. With ail their attention however they sometimes overdo the business, and sometimes underdo it. W'hen they import more bullion than is wanted, rather than iucur the risk and trouble of exporting it again, they are sometimes willing to sell a part of it for something less than the ordinary or average prioe. When, on the other hand, they import less than is wanted, they get something more than tliis price.

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