whichisdonetwoways：bysolebuying，andsoleselling，bothathomeandabroad。Sothattogranttoacompanyofmerchantstobeacorporation，orbodypolitic，istograntthemadoublemonopoly，whereofoneistobesolebuyers；anothertobesolesellers。Forwhenthereisacompanyincorporateforanyparticularforeigncountry，theyonlyexportthecommoditiesvendibleinthatcountry；whichissolebuyingathome，andsolesellingabroad。Forathomethereisbutonebuyer，andabroadbutonethatselleth；bothwhichisgainfultothemerchant，becausetherebytheybuyathomeatlower，andsellabroadathigher，rates：andabroadthereisbutonebuyerofforeignmerchandise，andbutonethatsellsthemathome，bothwhichagainaregainfultotheadventurers。

　　Ofthisdoublemonopolyonepartisdisadvantageoustothepeopleathome，theothertoforeigners。Forathomebytheirsoleexportationtheysetwhatpricetheypleaseonthehusbandryandhandiworksofthepeople，andbythesoleimportation，whatpricetheypleaseonallforeigncommoditiesthepeoplehaveneedof，bothwhichareillforthepeople。Onthecontrary，bythesolesellingofthenativecommoditiesabroad，andsolebuyingtheforeigncommoditiesupontheplace，theyraisethepriceofthose，andabatethepriceofthese，tothedisadvantageoftheforeigner：forwherebutoneselleth，themerchandiseisthedearer；andwherebutonebuyeth，thecheaper：suchcorporationsthereforearenootherthanmonopolies，thoughtheywouldbeveryprofitableforaCommonwealth，if，beingboundupintoonebodyinforeignmarkets，theywereatlibertyathome，everymantobuyandsellatwhatpricehecould。

　　Theendthenofthesebodiesofmerchants，beingnotacommonbenefittothewholebodywhichhaveinthiscasenocommonstock，butwhatisdeductedoutoftheparticularadventures，forbuilding，buying，victuallingandmanningofships，buttheparticulargainofeveryadventurer，itisreasonthateveryonebeacquaintedwiththeemploymentofhisown；thatis，thateveryonebeoftheassemblythatshallhavethepowertoorderthesame；andbeacquaintedwiththeiraccounts。Andthereforetherepresentativeofsuchabodymustbeanassembly，whereeverymemberofthebodymaybepresentattheconsultations，ifhewill。

　　Ifabodypoliticofmerchantscontractadebttoastrangerbytheactoftheirrepresentativeassembly，everymemberisliablebyhimselfforthewhole。Forastrangercantakenonoticeoftheirprivatelaws，butconsidereththemassomanyparticularmen，obligedeveryonetothewholepayment，tillpaymentmadebyonedischargethalltherest：butifthedebtbetooneofthecompany，thecreditorisdebtorforthewholetohimself，andcannotthereforedemandhisdebt，butonlyfromthecommonstock，iftherebeany。

　　IftheCommonwealthimposeataxuponthebody，itisunderstoodtobelaiduponeverymemberproportionablytohisparticularadventureinthecompany。Forthereisinthiscasenoothercommonstock，butwhatismadeoftheirparticularadventures。

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