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"I observe some traces of it, not only in the Encyclopedie, but in "the Theory of agreeable sentiments by M. de Pouilly, a work that "is in many respects original; and above all, in the late Discourse upon the origin and foundation of the inequality amongst man"kind, by M. Rousseau of Geneva."

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A new translation of Mr Smith's Theory, (including his last additions), was published at Paris in 1798 by Madame de Condorcet, with some ingenious letters on Sympathy annexed to it, written by the translator.

NOTE (D), P. 77.

By way of explanation of what is hinted at in the foot-note, p. 77, I think it proper for me now to add, that at the period when this memoir was read before the Royal Society of Edinburgh, it was not unusual, even among men of some talents and information, to confound, studiously, the speculative doctrines of Political Economy, with those discussions concerning the first principles of Government which happened unfortunately at that time to agitate the public mind. The doctrine of a Free Trade was itself represented as of a revolutionary tendency; and some who had formerly prided themselves on their intimacy with Mr Smith, and on their zeal for the propagation of his liberal system, began to call in question the expediency of subjecting to the disputations of philosophers, the arcana of State Policy, and the unfathomable wisdom of the feudal ages. In reprinting this Section at present, I have, from obvious motives, followed scrupulously the text of the first edition, without any alterations or additions whatsoever; reserving any comments and criti

cisms which I have to offer on Mr Smith's work, for a different publication. (1810.)

NOTE (E), P. 96.

Notwithstanding the unqualified praise I have bestowed, in the text, on Mr Smith's arrangement, I readily admit, that some of his incidental discussions and digressions might have been more skilfully and happily incorporated with his general design. Little stress, however, will be laid on blemishes of this sort, by those who are aware of the extreme difficulty of giving any thing like a systematic shape to researches so various, and, at first view, so unconnected, as his plan embraces:-Some of them having for their aim to establish abstract principles of universal application; and others bearing a particular reference to the circumstances and policy of our own country.It ought to be remembered, besides, how much our taste, in matters of arrangement, is liable to be influenced by our individual habits of thought; by the accidental conduct of our early studies; and by other circumstances which may be expected to present the same objects under different aspects to different inquirers. Something of this kind is experienced even in those more exact Sciences, where the whole business of an elementary writer is to state known and demonstrated truths, in a logical and pleasing series. It has been experienced most remarkably in pure geometry, the elements of which have been modelled into a hundred different forms by the first mathematicians of modern Europe; while none of them has yet been able to unite the suffrages of the public in favour of any one arrangement as indisputably the best. What allowances,

then, are those entitled to, who, venturing upon a vast and untrodden field, aspire to combine with the task of original speculation, a systematical regard to luminous method, if they should sometimes happen to mistake the historical order of their own conclusions for the natural procedure of the human understanding!

NOTE (F), P. 98.

When this memoir was first written, I was not fully aware to what an extent the French Economists had been anticipated in some of their most important conclusions, by writers (chiefly British) of a much earlier date. I had often, indeed, been struck with the coincidence between their reasonings concerning the advantages of their territorial tax, and Mr Locke's speculations on the same subject, in one of his political discourses published sixty years before; as well as with the coincidence of their argument against corporations and exclusive companies, with what had been urged at a still earlier period, by the celebrated John de Witt; by Sir Josiah Child; by John Cary of Bristol; and by various other speculative men, who appeared in the latter part of the seventeenth century. To these last writers, my attention had been directed by some quotations and references of the Abbé Morellet, in his very able Memoir on the East India Company of France, printed in 1769. Many passages, however, much more full and explicit than those which had fallen in his way, have been pointed out to me by the Earl of Lauderdale, in his curious and valuable collection of rare English Tracts relating to political economy. In some of these, the argument is stated in a manner so clear and so conclusive, as to render it surprising, that truths

of which the public has been so long in possession, should have been so completely overborne by prejudice and misrepresentation, as to have had, to a large proportion of readers, the appearance of novelty and paradox, when revived in the philosophical theories of the present age

The system of political economy which professes to regulate the commercial intercourse of different nations, and which Mr Smith has distinguished by the title of the Commercial, or Mercantile System, had its root in prejudices still more inveterate than those which restrained the freedom of commerce and industry among the members of the same community. It was supported not only by the prejudices with which all innovations have to contend, and by the talents of very powerful bodies of men interested to defend it, but by the mistaken and clamorous patriotism of many good citizens, and their blind hostility to supposed enemies or rivals abroad. The absurd and delusive principles, too, formerly so prevalent, with respect to the nature of national wealth, and the essential importance of a favourable balance of trade (principles which, though now so clearly and demonstrably exploded by the arguments of Mr Smith, must be acknowledged to fall in naturally, and almost inevitably, with the first apprehensions of the mind when it begins to speculate concern

That the writers of this Island should have had the start of those in the greater part of Europe, in adopting enlightened ideas concerning commerce, will not appear surprising, when we consider that "according to the Common Law of England, the "freedom of trade is the birthright of the subject." For the opinions of Lord Coke and of Lord Chief-Justice Fortescue, on this point, see a pamphlet by Lord Lauderdale, entitled, "Hints to the Manufacturers of Great Britain," &c. (printed in 1805); where also may be found a list of statutes containing recognitions and declarations of the above principle.

ing the Theory of Commerce), communicated to the Mercantile System a degree of plausibility, against which the most acute reasoners of our own times are not always sufficiently on their guard. It was accordingly, at a considerably later period, that the wisdom of its maxims came to be the subject of general discussion; and, even at this day, the controversy to which the discussion gave rise cannot be said to be completely settled, to the satisfaction of all parties. A few enlightened individuals, however, in different parts of Europe, very early got a glimpse of the truth *; and it is but justice, that the scattered hints which they threw out should be treasured up as materials for literary history. I have sometimes thought of attempting a slight sketch on that subject myself; but am not without hopes that this suggestion may have the effect of recommending the task to some abler hand. At present, I shall only quote one or two paragraphs from a pamphlet published in 1734, by Jacob Vanderlint; an author whose name has been frequently referred to of late years, but whose book never seems to have attracted much notice

* According to the statement of Lord Herbert of Cherbury, the following doctrine was delivered in the English House of Commons by Sir Thomas More (then speaker), almost three centuries ago. "I say confidently, you need not fear this penury or "scarceness of money; the intercourse of things being so establish'd throughout the "whole world, that there is a perpetual derivation of all that can be necessary to "mankind. Thus, your commodities will ever find out money; while, not to go "far, I shall produce our own merchants only, who, (let me assure you) will be always as glad of your corn and cattel as you can be of any thing they bring you." -The Life and Reign of King Henry the Eighth, London, 1672, p. 135.

It is not a little discouraging to reflect, that the mercantile prejudice here combat. ed by this great man, has not yet yielded entirely to all the philosophical lights of the 18th century.

+"Money Answers all Things," &c. &c. London, 1734.

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