financial questions.  It was Pulteney who in his speech on the suspension of cash payments by the Bank of England in 1797—­in which he proposed the establishment of another bank—­quoted from some unknown source the memorable saying which is generally repeated as if it were his own, that Smith “would persuade the present generation and govern the next.”  He quoted the words as something that had been “well said.”  Between him and Smith there prevailed a warm and affectionate friendship for more than forty years, and we shall have occasion again to mention his name.  But I allude to him at present because a letter still exists which was given him by Smith at this period to introduce him, during a short stay he made in London, to James Oswald, then newly appointed to office at the Board of Trade.  This is the only letter that happens to be preserved of all the correspondence carried on by Smith with Oswald, and while both the occasion of it and its substance reveal the footing of personal intimacy on which they stood, its ceremonious opening and ending indicate something of the reverence and gratitude of the client to the patron:—­

SIR—­This will be delivered to you by Mr. William Johnstone, son of Sir James Johnstone of Westerhall, a young gentleman whom I have known intimately these four years, and of whose discretion, good temper, sincerity, and honour I have had during all that time frequent proofs.  You will find in him too, if you come to know him better, some qualities which from real and unaffected modesty he does not at first discover; a refinement and depth of observation and an accuracy of judgment, joined to a natural delicacy of sentiment, as much improved as study and the narrow sphere of acquaintance this country affords can improve it.  He had, first when I knew him, a good deal of vivacity and humour, but he has studied them away.  He is an advocate; and though I am sensible of the folly of prophesying with regard to the future fortune of so young a man, yet I could almost venture to foretell that if he lives he will be eminent in that profession.  He has, I think, every quality that ought to forward, and not one that should obstruct his progress, modesty and sincerity excepted, and these, it is to be hoped, experience and a better sense of things may in part cure him of.  I do not, I assure you, exaggerate knowingly, but could pawn my honour upon the truth of every article.  You will find him, I imagine, a young gentleman of solid, substantial (not flashy) abilities and worth.  Private business obliges him to spend some time in London.  He would beg to be allowed the privilege of waiting on you sometimes, to receive your advice how he may employ his time there in the manner that will tend most to his real and lasting improvement.

I am sensible how much I presume upon your indulgence in giving you this trouble; but as it is to serve and comply with a person for whom I have the most entire friendship, I know