The Wealth of Nations by Part 4 Chapter 7 Page 67

of the inhabitants, and are often upon that account of little or no value.

But it is necessary, it has already been shown, that the price of cattle should bear a certain proportion to that of corn before the greater part of the lands of any country can be improved. By allowing to American cattle, in all shapes, dead or alive, a very extensive market, the law endeavors to raise the value of a commodity of which the high price is so very essential to improvement. The good effects of this liberty, however, must be somewhat diminished by the 4th of George III, c. 15, which puts hides and skins among the enumerated commodities, and thereby tends to reduce the value of American cattle.

To increase the shipping and naval power of Great Britain, by the extension of the fisheries of our colonies,