Life of Adam Smith eBook

John Rae (educator)
This eBook from the Gutenberg Project consists of approximately 551 pages of information about Life of Adam Smith.

Life of Adam Smith eBook

John Rae (educator)
This eBook from the Gutenberg Project consists of approximately 551 pages of information about Life of Adam Smith.
in support of the Commercial Treaty with France, and Mr. George Dempster read an extract from it in the debate on the proposal to farm the post-horse duties.  It was quoted once in 1788, by Mr. Hussy on the Wool Exportation Bill, and not referred to again until Pitt introduced his Budget on the 17th February 1792.  In then explaining the progressive accumulation of capital that was always spontaneously going on in a country when it was not checked by calamity or by vicious legislation, that great minister, a deep student of Smith’s book and the most convinced of all Smith’s disciples, made the remark:  “Simple and obvious as this principle is, and felt and observed as it must have been in a greater or less degree even from the earliest periods, I doubt whether it has ever been fully developed and sufficiently explained but in the writings of an author of our own time, now unfortunately no more (I mean the author of the celebrated treatise on the Wealth of Nations), whose extensive knowledge of detail and depth of philosophical research will, I believe, furnish the best solution of every question connected with the history of commerce and with the system of political economy."[249] In the same year it was quoted by Mr. Whitbread and by Fox (from the exposition of the division of labour in the first book) in the debate on the armament against Russia, and by Wilberforce in his speech introducing his Bill for the Abolition of the Slave Trade.

It was not mentioned in the House of Lords till 1793, when in the debate on the King’s Message for an Augmentation of the Forces it was referred to by Smith’s two old friends, the Earl of Shelburne (now Marquis of Lansdowne) and Alexander Wedderburn (now Lord Loughborough, and presiding over the House as Lord Chancellor, of England).  The Marquis of Lansdowne said:  “With respect to French principles, as they had been denominated, those principles had been exported from us to France, and could not be said to have originated among the population of the latter country.  The new principles of government founded on the abolition of the old feudal system were originally propagated among us by the Dean of Gloucester, Mr. Tucker, and had since been more generally inculcated by Dr. Adam Smith in his work on the Wealth of Nations, which had been recommended as a book necessary for the information of youth by Mr. Dugald Stewart in his Elements of the Philosophy of the Human Mind.”  The Lord Chancellor in replying merely said that “in the works of Dean Tucker, Adam Smith, and Mr. Stewart, to which allusion had been made, no doctrines inimical to the principles of civil government, the morals or religion of mankind, were contained, and therefore to trace the errors of the French to these causes was manifestly fallacious."[250]

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Life of Adam Smith from Project Gutenberg. Public domain.