ADAM SMITH. LSI 



during the course of several centuries together. The 



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great body of the party are commonly intoxicated with 

 the imaginary beauty of this ideal system, of which they 

 have no experience but which has been presented to 

 them in all the most dazzling colours in which the elo- 

 quence of their leaders could display it. The leaders them- 

 selves, though they may originally have meant nothing 

 but their own aggrandisement, become many of them in 

 time the dupes of their own sophistry, and are as eager 

 for this great reformation as the weakest and foolishest 

 of their followers. Even though the leaders should have 

 preserved their own heads, as indeed they commonly do, 

 free from this fanaticism, yet they dare not always 

 disappoint the expectations of their followers ; but are 

 often obliged, though contrary to their principles and 

 their conscience, to act as if they were under the common 

 delusion." No one can doubt the truth of the conclusion 

 to which his account of reforming schemes leads him ; it 

 is proved by constant experience, which also shows, 

 though he leaves this out of his view, that they who 

 refuse all reform often are the cause of excessive and 

 perilous innovation : " The violence of the party refusing 

 all palliations, all temperaments, all reasonable accommo- 

 dations, by requiring too much, frequently obtains nothing ; 

 and those inconveniences and distresses which with a 

 little moderation might in a great measure have been 

 removed and relieved, are left altogether without the 

 hope of remedy." (Vol. II. p. 107.) 



Such is the ' Theory of Moral Sentiments.' The great 

 reputation, however, of Dr. Smith, and especially his 

 European reputation, is founded upon the ' Wealth of 

 Nations/ We have seen how the principles of a more 



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