An Inquiry Into the Nature and Causes of the Wealth of NationsSmith, Adam
General
An Inquiry Into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
The reputation, however, of the economists is too well established to be
affected, either by the clamours of the ignorant, or the mad
intemperance of political alarmists. The doctrine of the great men who
formed the school of the economists, was, that the produce of the land
is the sole or principal source of the revenue and wealth of every
country; and this doctrine, with the manner of deriving from it the
greatest possible advantage, it is almost universally acknowledged,
engaged entirely their attention. Dr. Smith, who lived in great
intimacy with many of the founders of that sect, does ample justice, on
every occasion, to the purity of their views; and indeed they, as well
as himself, it has always been said, by the impartial and well informed,
were ever animated by a zeal for the best interests of society.
M. Quesnai, the first of that sect, and the author of the Economical
Table, a work of the greatest profoundness and originality, was, in
particular, represented by Mr. Smith as a man of the greatest modesty
and simplicity; and his system he pronounced, with all its
imperfections, to be the nearest approximation to the truth, of any that
had then been published on the principles of political science. His
veneration for this worthy man was even so great, that had he lived, it
was his intention to have inscribed to him the Inquiry into the Causes
of the Wealth of Nations.
Nor will the memory of those illustrious men be soon forgotten,
notwithstanding the calumnies with which it has been charged. It may
safely be predicted, in the words of a highly respectable periodical
publication, that 'Those prospects of political improvements which
flattered the benevolent anticipations of the economists, will soon be
recognised as sound conclusions of science; and it will at length be
acknowledged that Turgot, Mirabeau, and Quesnai, were the friends of
mankind, and that their genius and their labours were devoted to the
refinement of social happiness and the consolidation of the political
fabric.'[3]
The life of Mr. Smith, after the publication of his Inquiry, might be
said to draw towards a close. The following particulars of the last
years, are mostly extracted from Professor Stewart's Life of this
incomparable writer.
After residing some time in London, he was appointed one of the
commissioners of customs in Scotland, in 1778, when he removed to
Edinburgh. He was accompanied by his mother, who, though in extreme old
age, possessed a considerable share of good health; and his cousin, Miss
Douglass, who had long resided with him at Glasgow, undertook to
superintend his domestic economy.
The Duke of Buccleugh had continued to allow Mr. Smith L.300 a-year, and
the accession which he now received to his income enabled him to live,
not only with comfort and independence, but to indulge the benevolence
of his heart, in making numerous private benefactions.
Public-domain text, read in full here on John Shaqi.
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