An Inquiry Into the Nature and Causes of the Wealth of Nations

by Adam Smith; M. Garnier

Bounty, at a medium, for each barrel of sea-sticks,	L.0 8 2¼
But a barrel of sea-sticks being only reckonedtwo thirds of a barrel fully packed, one thirdis to be deducted, which brings the bounty to	L.0 12 3¾
And if the herrings are exported, there is besides, a premium of	L.0 2 8
	—————
So that the bounty paid by government in money, for each barrel, is	L.0 14 11¾
But if to this, the duty of the salt usually taken credit foras expended in curing each barrel, which, at a medium, is, offoreign, one bushel and one-fourth of a bushel, at 10s.a-bushel, be added. viz.	0 12 6
	—————
the bounty on each barrel would amount to	L.1 7 5¾
	—————
If the herrings are cured with British salt, it will stand thus, viz.
Bounty, as before	L.0 14 11¾
But if to this bounty, the duty on two bushels of Scotch salt,at 1s. 6d. per bushel, supposed to be the quantity, at amedium, used in curing each barrel, is added, viz.	0 3 0
	—————
the bounty on each barrel will amount to	L.0 17 11¾
	—————
And when buss herrings are entered for home consumption in Scotland, andpay the shilling a-barrel of duty, the bounty stands thus, to wit, asbefore	L.0 12 3
From which the 1s. a-barrel is to be deducted	0 1 0
	—————
	L.0 11 3¾
But to that there is to be added again, the duty of theforeign salt used in curing a barrel of herrings, viz.	0 12 6
	—————
So that the premium allowed for each barrel of herringsentered for home consumption is	L.1 3 9¾
	—————
If the herrings are cured with British salt, it will stand asfollows, viz.
Bounty on each barrel brought in by the busses, as above	L.0 12 3¾
From which deduct the 1s. a-barrel, paid at the time they areentered for home consumption	0 1 0
	—————
	L.0 11 3¾
But if to the bounty, the duty on two bushels of Scotch salt,at 1s. 6d. per bushel, supposed to be the quantity, at amedium, used in curing each barrel, is added, viz.	0 3 0
	—————
the premium for each barrel entered for home consumption will be	L.0 14 3¾

Though the loss of duties upon herrings exported cannot, perhaps, properly be considered as bounty, that upon herrings entered for home consumption certainly may.

An Account of the Quantity of Foreign Salt imported into Scotland, and of Scotch Salt delivered Duty-free from the Works there, for the Fishery, from the 5th of April 1771 to the 5th of April 1782, with the Medium of both for one Year.

PERIOD.	Foreign Salt imported.	Scotch Salt delivered from the Works.
	Bushels	Bushels
From the 5th of April 1771 to the 5th April 1782.	936,974	168,226
Medium for one year	85,1795⁄11	15,2933⁄11

It is to be observed, that the bushel of foreign salt weighs 48lb. that of British salt, 56lb. only.

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BOOK V.

OF THE REVENUE OF THE SOVEREIGN OR COMMONWEALTH.

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