90 ADAM SMITH. 



damental principle which lies at the root of all these 

 doctrines, that, as to trade, the whole world is one country, 

 of which the natives severally are citizens or subjects ; 

 that no laws can regulate prices ; and that whatever 

 injures any one member of the great community injures 

 the whole. 



It must be observed that beside the treatises thus 

 early published on cecononiical science, we find occasionally 

 very sound doctrines unfolded, and very just maxims of 

 policy laid down, by well known writers, who incidentally 

 touch upon oeconomical subjects in works written with 

 other views. Thus Fenelon, in his celebrated romance 

 of ' Telemachus/ has scattered various reflexions of the 

 truest and purest philosophy, upon the theory of com- 

 mercial legislation, as well as upon many other depart- 

 ments of administration. It is due to the memory of a 

 Romish prelate, and a royal preceptor in an absolute 

 monarchy, to add that all his writings breathe a spirit of 

 genuine religious tolerance, and of just regard to the 

 civil rights and liberties of mankind. 



In the eighteenth century, the writers of Italy appear 

 to have taken the lead in these inquiries. The active 

 and lively genius of the people, the division of the country 

 into small states, the access to the ears of the Government 

 which this naturally gives to learned men, the interest in 

 the improvement of his country which the citizen of a 

 narrow community is apt to feel, gave rise to such a mul- 

 titude of writers on subjects of political economy, that 

 when the Government of the Italian Republic, with a 

 princely liberality, directed Custodi to publish a collection 

 of their works at the public expense, in 1803, they were 

 found to fill no less than fifty octavo volumes. 



