341 



and a thoufand unforefeen circumftances, which operate to govern the 

 details of praftical regulation, in oppofition to all the calculations, and rea- 

 fons of mere theorifts. I do not ftate this, as an objeftion to Doctor 

 Smith's book; which, no doubt, is an admirable performance: but 1 men- 

 tion it, to fhew, what evils may poffibly refult, from the indifcreet, and 

 intemperate ufe of fuch general doftrines, when men defcend to bufmefs, 

 and come to eftablifli practical rules, for the commercial concerns of nations, 

 and individuals. In faft, fuch theories contain in them too much, of the 

 chimerical dreams oi perfeSiibility, which have proved fo fatal to the French 

 revolutionifts ; and, by inftigating men, to attempt too much, and to dif- 

 dain a moderate degree of fuccefs, and perfeftion, fuch as, alone, are 

 competent to man, and his labours ; have, in fa£l, incapacitated him from 

 accomplifliing any thing good. 



I have been led to thefe digreilive reflections, by a recollection of what 

 Doctor Smith has advanced, on the fubjecl of bounties, and proteding du- 

 ties. What he fays, is for the moft part, undoubtedly true, in general 

 theory ; yet, unlefs all nations Ihould agree, by common confent, to aft up- 

 on his principles, and forego all at once their long eftabliflied fyftems of boun- 

 ties, protefting duties, and prohibitions, it would be impolitic and chi- 

 merical, in the extreme, for a fingle nation to renounce them. 



It is true, no doubt, as Dr. Smith obferves, that the interference of the 

 legiflature, in the way of bounties, and protefting duties, may force the 

 employment of capital from its level, and urge it into particular channels. 

 It may be true, that, if all other trades were to refemble that, which mufl 

 be fupported by bounties, they would eat up, each, fuch a part of the. capi- 

 tal, that there would, foon, be no capital left. It may be true, alfo, 

 " That the trades, or manufaftures, carried on, by means of bounties, 

 " are the only ones, which can be carried on, between two nations, for any 

 " confiderable time, in fuch a manner, as, that one of them ftiall regularly 

 " lofe, or fell its goods for lefs, than it cofts to bring them to market." — 

 Thefe are, no doubt, ftrong confiderations of inconvenience ; yet, there 

 may be other confiderations, of higher convenience, to counterafl thefe, 

 and reconcile it to the true intereft, and found policy of a nation, to fufler 



privations. 



