Yet it must be said that he was less self-seeking than those who were with him in Virginia, making glory his aim rather than gain always; that he had a superior conception of what a colony should be, and how it should establish itself, and that his judgment of what was best was nearly always vindicated by the event.  He was not the founder of the Virginia colony, its final success was not due to him, but it was owing almost entirely to his pluck and energy that it held on and maintained an existence during the two years and a half that he was with it at Jamestown.  And to effect this mere holding on, with the vagabond crew that composed most of the colony, and with the extravagant and unintelligent expectations of the London Company, was a feat showing decided ability.  He had the qualities fitting him to be an explorer and the leader of an expedition.  He does not appear to have had the character necessary to impress his authority on a community.  He was quarrelsome, irascible, and quick to fancy that his full value was not admitted.  He shines most upon such small expeditions as the exploration of the Chesapeake; then his energy, self-confidence, shrewdness, inventiveness, had free play, and his pluck and perseverance are recognized as of the true heroic substance.

Smith, as we have seen, estimated at their full insignificance such flummeries as the coronation of Powhatan, and the foolishness of taxing the energies of the colony to explore the country for gold and chase the phantom of the South Sea.  In his discernment and in his conceptions of what is now called “political economy” he was in advance of his age.  He was an advocate of “free trade” before the term was invented.  In his advice given to the New England plantation in his “Advertisements” he says: 

“Now as his Majesty has made you custome-free for seven yeares, have a care that all your countrymen shall come to trade with you, be not troubled with pilotage, boyage, ancorage, wharfage, custome, or any such tricks as hath been lately used in most of our plantations, where they would be Kings before their folly; to the discouragement of many, and a scorne to them of understanding, for Dutch, French, Biskin, or any will as yet use freely the Coast without controule, and why not English as well as they?  Therefore use all commers with that respect, courtesie, and liberty is fitting, which will in a short time much increase your trade and shipping to fetch it from you, for as yet it were not good to adventure any more abroad with factors till you bee better provided; now there is nothing more enricheth a Common-wealth than much trade, nor no meanes better to increase than small custome, as Holland, Genua, Ligorne, as divers other places can well tell you, and doth most beggar those places where they take most custome, as Turkie, the Archipelegan Iles, Cicilia, the Spanish ports, but that their officers will connive to enrich themselves, though undo the state.”