thereby reduces the profits of the merchants who have any considerable
quantity of them upon hand. It sinks, too, the wages of the workmen employed
in preparing such commodities, for which all demand is stopped for six
months, perhaps for a twelvemonth. The market is here overstocked both with
commodities and with labour.

But though the market price of every particular commodity is in this manner
continually gravitating, if one may say so, towards the natural price; yet
sometimes particular accidents, sometimes natural causes, and sometimes
particular regulations of policy, may, in many commodities, keep up the
market price, for a long time together, a good deal above the natural price.

When, by an increase in the effectual demand, the market price of some
particular commodity happens to rise a good deal above the natural price,
those who employ their stocks in supplying that market, are generally
careful to conceal this change. If it was commonly known, their great profit
would tempt so many new rivals to employ their stocks in the same way, that,
the effectual demand being fully supplied, the market price would soon be
reduced to the natural price, and, perhaps, for some time even below it. If
the market is at a great distance from the residence of those who supply it,
they may sometimes be able to keep the secret for several years together,
and may so long enjoy their extraordinary profits without any new rivals.
Secrets of this kind, however, it must be acknowledged, can seldom be long
kept; and the extraordinary profit can last very little longer than they are
kept.

Secrets in manufactures are capable of being longer kept than secrets in
trade. A dyer who has found the means of producing a particular colour with
materials which cost only half the price of those commonly made use of, may,
with good management, enjoy the advantage of his discovery as long as he