ture, the
quantity of which cannot be increased, whatever the demand may be.
{125} It follows, as an evident consequence, that the price increases
as the scarcity augments; but, if it only did so, the evil would not be
so great as it really is. In the first place, the anxiety attendant on
the risk of wanting so necessary an article creates a greater competition
amongst buyers than the degree of scarcity would occasion in an article
of less necessity and importance. In a wealthy nation, the evil is
still farther increased, by two other causes.

The high price which one part of the society is able to afford, and the
wealth of those who sell, enables them to keep back the provisions
from the market; the first cause operates in all countries nearly alike,
for, the anxiety to have food is nearly equal all the world over. But the
last two operate more or less, according to the wealth of the buyers
and of the sellers, as the eagerness and ability of the former to
purchase, and the interest and ability of the latter to keep back from
selling, are regulated by the degree of wealth in a country. {126}

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{124} The law concerning money is a general law, because, at all
times, there are some individuals in want of it, and would be liable to
grant exorbitant interest. It is not so with provisions, for, it is only
occasionally that they cannot be had at reasonable prices.

{125} Dr. Smith divides produce into three different sorts; the two
first are such as can be only produced in a certain quantity, whatever
the demand may be; and such as can be produced always in sufficient
quantity.

{126} This was proved by what happened in Paris in 1789, and in
England in 1790. The [end of page #150] want in Paris was so real
that there often was not, in that great city, bread, and materials to
make it, more than sufficient for twenty-four hours: yet it never rose
to above double the usual price, or twopence English the pound, (that
is, sixteen sols for the four-pound loaf,) although the people were
obliged to wait from six in the morning till two or three in the
afternoon, before they could get a loaf a piece, and more they were not
permitted to purchase or carry away. In London, where bread could
always be had in plenty, for money, it rose to more than three times
the usual price, (one and tenpence the quartern loaf,) yet bread is a
much more necessary article to the poor in Paris than in London. But
the case was, in London, the people