Economists -- Great Britain -- Biography; Smith, Adam, 1723-1790
“I go to Town next Friday, and should be obliged to you for your
answer to this letter.—I am, with sincere affection and esteem, dear
sir your most faithful and most obedient humble servant,
C. Townshend.
Adderbury, _25th October 1763_.”
The offer was accepted, and an arrangement concluded, in a pecuniary
point of view certainly “satisfactory and advantageous.” Smith was to
have a salary of £300 a year with travelling expenses, and a pension of
£300 a year for life. He was thus to enjoy, as Mr. Rae says, twice his
Glasgow income, and to have it assured till death. Altogether, Smith
drew more than £8000 from his three years’ tutorship. On November 8th,
“Dr. Smith represented,” so runs the record of the Faculty, “that some
interesting business would probably require his leaving the College some
time this winter”, and he was thereupon granted leave of absence for
three months.
For some time, however, Smith heard nothing more. In the middle of
December, when he wrote to tell Hume of Townshend’s letter, he was still
in uncertainty. But a few days afterwards it was arranged that they
should start early in the new year, and on January the 9th Smith told
the Faculty that he should make use of his leave of absence, that he
should pay his deputy his half-year’s salary commencing from October the
10th, and that he had returned all his students’ fees. This last act of
liberality he was only able to carry out by a display of violence at the
end of his last lecture. The scene has luckily been reproduced with
unusual animation by the pen of Tytler, Lord Kames’s pedestrian
biographer. After concluding his last lecture, and describing the
arrangements he had made for them, “he drew from his pocket the several
fees of the students, wrapped up in separate paper parcels, and
beginning to call up each man by his name, he delivered to the first who
was called the money into his hand. The young man peremptorily refused
to accept it, declaring that the instruction and pleasure he had already
received was much more than he either had repaid or ever could
compensate; and a general cry was heard from every one in the room to
the same effect. But Mr. Smith was not to be bent from his purpose.
After warmly expressing his feelings of gratitude and the strong sense
he had of the regard shown to him by his young friends, he told them
this was a matter betwixt him and his own mind, and that he could not
rest satisfied unless he performed what he deemed right and proper. ‘You
must not refuse me this satisfaction; nay, by heavens, gentlemen, you
shall not’; and seizing by the coat the young man who stood next to him,
he thrust the money into his pocket and then pushed him from him. The
rest saw it was in vain to contest the matter, and were obliged to let
him take his own way.”[21]
Public-domain text, read in full here on John Shaqi.
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