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by nature against the fatal effects which would otherwise be produced by the subdivision of labour accompanying the progress of the mechanical arts: nor is anything wanting to make the remedy effectual, but wise institutions to facilitate general instruction, and to adapt the education of individuals to the stations they are to occupy The mind of the artist, which from the limited sphere of his activity, would sink below the level of the peasant or the savage, might receive in infancy the means of intellectual enjoyment and the seeds of moral improvement; and even the insipid uniformity of his professional engagements, by presenting no object to awaken his ingenuity or to distract his attention, might leave him at liberty to employ his faculties on subjects more interesting to himself, and more extensively useful to others.

These effects, notwithstanding a variety of opposing causes which still exist, have already resulted, in a very sensible degree, from the liberal policy of modern times. Mr. Hume, in his Essay on Cominerce, after taking notice of the numerous armies raised and maintained by the small republics in the ancient world, ascribes the military power of these states to their want of commerce and luxury. 'Few artisans were maintained by the labour of the farmers, and therefore more soldiers might live upon it.' He adds, however, that 'the 'policy of ancient times was VIOLENT, and contrary to the NATURAL course of 'things;'-by which, I presume he means, that it aimed too much at modifying, by the force of positive institutions, the order of society, according to some preconceived idea of expediency; without trusting sufficiently to those princiciples of the human constitution, which, wherever they are allowed free scope, not only conduct mankind to happiness, but lay the foundation of a progressive improvement in their condition and in their character. The advantages which modern policy possesses over the ancient, arise principally from its conformity, in some of the most important articles of political economy, to an order of things recommended by nature; and it would not be difficult to show, that where it remains imperfect, its errors may be traced to the restraints it imposes on the natural course of human affairs. Indeed, in these restraints may be discovered the latent seeds of many of the prejudices and follies which infect modern manners, and which have so long bid defiance to the reasonings of the philosopher and the ridicule of the satirist.

The foregoing very imperfect hints appeared to me to form, not only a proper, but in some measure a necessary introduction to the few remarks I have. to offer on Mr. Smith's Inquiry; as they tend to illustrate a connection between his system of commercial politics, and those speculations of his earlier years, in which he aimed more professedly at the advancement of human improvement and happiness. It is this view of political economy that can alone render it interesting to the moralist, and can dignify calculations of profit and loss in the eye of the philosopher. Mr. Smith has alluded to it in various passages of his work, but he has nowhere explained himself fully on the subject; and the great stress he has laid on the effects of the division of labour in increasing its productive powers, seems, at first sight, to point to a different and very melancholy conclusion,-that the same causes which promote the progress of the arts, tend to degrade the mind of the artists; and, of consequeuce, that the growth of national wealth implies a sacrifice of the character of the people.

The fundamental doctrines of Mr. Smith's system are now so generally known, that it would have been tedious to offer any recapitulation of them in this place, even if I could have hoped to do justice to the subject within the limits which I have prescribed to myself at present. I shall content myself, therefore, with remarking, in general terms, that the great and leading object of his speculations is, to illustrate the provision made by nature in the principles of the human mind, and in the circumstances of man's external situation, for a gradual and progressive augmentation in the means of national wealth; and to demonstrate, that the most effectual plan for advancing a people to greatness,

is to maintain that order of things which nature has pointed out; by allowing every man, as long as he observes the rules of justice, to pursue his own interest in his own way, and to bring both his industry and his capital into the freest competition with those of his fellow-citizens. Every system of policy which endeavours, either by extraordinary encouragements to draw towards a particular species of industry a greater share of the capital of the society than what would naturally go to it, or, by extraordinary restraints, to force from a particular species of industry some share of the capital which would otherwise be employed in it, is, in reality, subversive of the great purpose which it means to promote.

What the circumstances are which, in modern Europe, have contributed to disturb this order of nature, and, in particular, to encourage the industry of towns at the expense of that of the country, Mr. Smith has investigated with great ingenuity; and in such a manner, as to throw much new light on the history of that state of society which prevails in this quarter of the globe. His observations on this subject tend to show, that these circumstances were, in their first origin, the natural and the unavoidable result of the peculiar situation of mankind during a certain period; and that they took their rise, not from any general scheme of policy, but from the private interests and prejudices of particular orders of men.

The state of society, however, which at first arose from a singular combination of accidents, has been prolonged much beyond its natural period by a false system of political economy, propagated by merchants and manufacturers; a class of individuals, whose interest is not always the same with that of the public, and whose professional knowledge gave them many advantages, more particularly in the infancy of this branch of science, in defending those opinions which they wished to encourage. By means of this system, a new set of obstacles to the progress of national prosperity has been created. Those which arose from the disorders of the feudal ages, tended directly to disturb the internal arrangements of society, by obstructing the free circulation of labour and of stock, from employment to employment, and from place to place. The false system of political economy which has been hitherto prevalent, as its professed object has been to regulate the commercial intercourse between different nations, has produced its effect in a way less direct and less manifest, but equally prejudicial to the states that have adopted it.

Ón this system, as it took its rise from the prejudices, or rather from the interested views, of mercantile speculators, Mr. Smith bestows the title of the Commercial or Mercantile System; and he has considered at great length its two principal expedients for enriching a nation,-restraints upon importation, and encouragements to exportation. Part of these expedients, he observes, have been dictated by the spirit of monopoly, and part by a spirit of jealousy against those countries with which the balance of trade is supposed to be disadvantageous. All of them appear clearly, from his reasonings, to have a tendency unfavourable to the wealth of the nation which imposes them. His remarks with respect to the jealousy of commerce are expressed in a tone of indignation which he seldom assumes in his political writings.

In this manner (says he) the sneaking arts of underling tradesmen are erected into political maxims for the conduct of a great empire. By such maxims as these, nations have been taught that their interest consisted in beggaring all 'their neighbours. Each nation has been made to look with an invidious eye upon the prosperity of all the nations with which it trades, and to consider 'their gain as its own loss. Commerce, which ought naturally to be among 'nations, as among individuals, a bond of union and friendship, has become the most fertile source of discord and animosity. The capricious ambition of kings and ministers has not, during the present and the preceding century, 'been more fatal to the repose of Europe, than the impertinent jealousy of

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'merchants and manufacturers. The violence and injustice of the rulers of 'mankind is an ancient evil, for which perhaps the nature of human affairs can scarce admit of a remedy. But the mean rapacity, the monopolizing spirit of 'merchants and manufacturers, who neither are nor ought to be the rulers of mankind, though it cannot perhaps be corrected, may very easily be prevented 'from disturbing the tranquillity of anybody but themselves.'

Such are the liberal principles which, according to Mr. Smith, ought to direct the commercial policy of nations; and of which it ought to be the great object of legislators to facilitate the establishment. In what manner the execution of the theory should be conducted in particular instances, is a question of a very different nature, and to which the answer must vary, in different countries, according to the different circumstances of the case. In a speculative work, such as Mr. Smith's, the consideration of this question did not fall properly under his general plan; but that he was abundantly aware of the danger to be apprehended from a rash application of political theory, appears not only from the general strain of his writings, but from some incidental observations which he has expressly made upon the subject. So unfortunate (says he, in one passage) are the effects of all the regulations of the mercantile system, that they not only introduce very dangerous disorders into the state of the body politic, but disorders which it is often difficult to remedy, without occasioning, 'for a time at least, still greater disorders. In what manner, therefore, the 'natural system of perfect liberty and justice ought gradually to be restored, 'we must leave to the wisdom of future statesmen and legislators to determine.' In the last edition of his Theory of Moral Sentiments, he has introduced some remarks, which have an obvious reference to the same important doctrine. The following passage seems to refer more particularly to those derangements of the social order which derived their origin from the feudal institutions.

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'The man whose public spirit is prompted altogether by humanity and benevolence, will respect the established powers and privileges even of indi'viduals, and still more of the great orders and societies into which the state is 'divided. Though he should consider some of them as in some measure 'abusive, he will content himself with moderating what he often cannot 'annihilate without great violence. When he cannot conquer the rooted prejudices of the people by reason and persuasion, he will not attempt to subdue them by force; but will religiously observe what, by Cicero, is justly 'called the divine maxim of Plato, never to use violence to his country no more than to his parents. He will accommodate, as well as he can, his public arrangements to the confirmed habits and prejudices of the people; and will remedy, as well as he can, the inconveniencies which may flow from the want of those regulations which the people are averse to submit to. When he cannot establish the right, he will not disdain to ameliorate the wrong; but, 'like Solon, when he cannot establish the best system of laws, he will endeavour 'to establish the best that the people can bear.'

These cautions with respect to the practical application of general principles were peculiarly necessary from the author of "The Wealth of Nations;' as the unlimited freedom of trade, which it is the chief aim of his work to recommend, is extremely apt, by flattering the indolence of the statesman, to suggest to those who are invested with absolute power, the idea of carrying it into immediate execution. 'Nothing is more adverse to the tranquillity of a 'statesman (says the author of an Eloge on the Administration of Colbert) than a spirit of moderation; because it condemns him to perpetual observation, shows him every moment the insufficiency of his wisdom, and leaves him 'the melancholy sense of his own imperfection; while, under the shelter of a few general principles, a systematical politician enjoys a perpetual calm. By the help of one alone, that of a perfect liberty of trade, he would govern the world, and would leave human affairs to arrange themselves at pleasure, under

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'the operation of the prejudices and the self-interests of individuals. If these 'run counter to each other, he gives himself no anxiety about the consequence, 'he insists that the result cannot be judged of till after a century or two shall 'have elapsed. If his contemporaries, in consequence of the disorder into 'which he has thrown public affairs, are scrupulous about submitting quietly to 'the experiment, he accuses them of impatience. They alone, and not he, are 'to blame for what they have suffered; and the principle continues to be incul'cated with the same zeal and the same confidence as before.' These are the words of the ingenious and eloquent author of the Eloge on Colbert, which obtained the prize from the French Academy in the year 1763; a performance which, although confined and erroneous in its speculative views, abounds with just and important reflections of a practical nature. How far his remarks apply to that particular class of politicians whom he had evidently in his eye in the foregoing passage, I shall not presume to decide.

It is hardly necessary for me to add to these observations, that they do not detract in the least from the value of those political theories which attempt to delineate the principles of a perfect legislation. Such theories (as I have else. where observed) ought to be considered merely as descriptions of the ultimate objects at which the statesman ought to aim. The tranquillity of his administration, and the immediate success of his measures, depend on his good sense and his practical skill; and his theoretical principles only enable him to direct his measures steadily and wisely, to promote the improvement and happiness of mankind, and prevent him from being ever led astray from these important ends by more limited views of temporary expedience. In all cases (says Mr. 'Hume) it must be advantageous to know what is most perfect in the kind, that 'we may be able to bring any real constitution or form of government as near it as possible, by such gentle alterations and innovations as may not give too 'great disturbance to society.'

The limits of this Memoir make it impossible for me to examine particularly the merit of Mr. Smith's work in point of originality. That his docrine concerning the freedom of trade and of industry coincides remarkably with that which we find in the writings of the French Economists, appears from the slight view of their system which he himself has given. But it surely cannot be pretended by the warmest admirers of that system, that any one of its numerous expositors has approached to Mr. Smith in the precision and perspicuity with which he has stated it, or in the scientific and luminous manner in which he has deduced it from elementary principles. The awkwardness of their technical language, and the paradoxical form in which they have chosen to present some of their opinions, are acknowledged, even by those who are most willing to do justice to their merits; whereas it may be doubted, with respect to Mr. Smith's Inquiry, if there exists any book beyond the circle of the mathematical and physical sciences, which is at once so agreeable in its arrangement to the rules of a sound logic, and so accessible to the examination of ordinary readers. Abstracting entirely from the author's peculiar and original speculations, I do not know that, upon any subject whatever, a work has been produced in our times, containing so methodical, so comprehensive, and so judicious a digest of all the most profound and enlightened philosophy of the age.

In justice also to Mr. Smith, it must be observed, that although some of the economical writers had the start of him in publishing their doctrines to the world, these doctrines appear, with respect to him, to have been altogether original, and the result of his own reflections. Of this, I think, every person must be convinced, who reads the Inquiry with due attention, and is at pains to examine the gradual and beautiful progress of the author's ideas: but in case any doubt should remain on this head, may be proper to mention, that Mr. Smith's political lectures, comprehending the fundamental principles of

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his Inquiry, were delivered at Glasgow as early as the year 1752 or 1753, at a period, surely, when there existed no French performance on the subject that could be of much use to him in guiding his researches. In the year 1756, indeed, M. Turgot (who is said to have imbibed his first notions concerning the unlimited freedom of commerce from an old merchant, M. Gournay), published in the Encyclopédie, an article which sufficiently shows how completely his mind was emancipated from the old prejudices in favour of commercial regulations: but that even then, these opinions were confined to a few speculative men in France, appears from a passage in the Mémoires sur la Vie et les Ouvrages de M. Turgot; in which, after a short quotation from the article just mentioned, the author adds: 'These ideas were then considered as 'paradoxical; they are since become common, and they will one day be 'adopted universally.'

The Political Discourses of Mr. Hume were evidently of greater use to Mr. Smith than any other book that had appeared prior to his lectures. Even Mr. Hume's theories, however, though always plausible and ingenious, and in most instances profound and just, involve some fundamental mistakes; and, when compared with Mr. Smith's, afford a striking proof, that, in considering a subject so extensive and so complicated, the most penetrating sagacity, if directed only to particular questions, is apt to be led astray by first appear. ances; and that nothing can guard us effectually against error, but a comprehensive survey of the whole field of discussion, assisted by an accurate and patient analysis of the ideas about which our reasonings are employed. It may be worth while to add, that Mr. Hume's essay 'On the Jealousy of Trade,' with some other of his political discourses, received a very flattering proof of M. Turgot's approbation, by his undertaking the task of translating them into the French language.

I am aware that the evidence I have hitherto produced of Mr. Smith's originality may be objected to as not perfectly decisive, as it rests entirely on the recollection of those students who attended his first courses of moral philosophy at Glasgow: a recollection which, at the distance of forty years, cannot be supposed to be very accurate. There exists, however, fortunately, a short manuscript, drawn up by Mr. Smith in the year 1755, and presented by him to a society of which he was then a member, in which paper a pretty long enumeration is given of certain leading principles, both political and literary, to which he was anxious to establish his exclusive right, in order to prevent the possibility of some rival claims which he thought he had reason to apprehend, and to which his situation as a professor, added to his unreserved communications in private companies, rendered him peculiarly liable. This paper is at present in my possession. It is expressed with a good deal of that honest and indignant warmth, which is perhaps unavoidable by a man who is conscious of the purity of his own intentions, when he suspects that advantages have been taken of the frankness of his temper. On such occasions, due allowances are not always made for those plagiarisms, which, however cruel in their effects, do not necessarily imply bad faith in those who are guilty of them: for the bulk of mankind, incapable themselves of original thought, are perfectly unable to form a conception of the nature of the injury done to a man of inventive genius by encroaching on a favourite speculation. For reasons known to some members of this society, it would be improper, by the publication of this manuscript, to revive the memory of private differences; and I should not have even alluded to it, if I did not think it a valuable document of the progress of Mr. Smith's political ideas at a very early period. Many of the most im portant opinions in 'The Wealth of Nations' are there detailed; but I shall quote only the following sentences: Man is generally considered by statesmen and projectors as the materials of a sort of political mechanics. Projectors 'disturb nature in the course of her operations in human affairs; and it requires

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