645 B
645 B
Warehouse System
Definition
A storage and distribution arrangement where imported goods are held in bonded warehouses under government supervision, allowing for temporary storage before re-exportation without payment of import duties.
Source Chapter
Book IV, Chapter 5
Context
Smith mentions the warehouse system as a mechanism that facilitates the carrying trade by allowing merchants to store goods duty-free while arranging for their re-exportation to other markets.
Economic Domain
Exchange