170 ADAM SMITH. 



as the especial triumph and glory. The great aim of that 

 system, to increase the amount by importation of the 

 precious metals, undoubtedly gave rise to this treaty with 

 Portugal, whose share in the mines of gold is so large. 

 Dr. Smith takes occasion to show, that there needs no 

 care whatever of the Government in any country to 

 obtain these metals, whether for trade, or for revenue, or 

 for subsidy, or for any other head of expenditure, foreign 

 or domestic, as its ordinary commerce must always insure 

 a sufficient supply of them ; that is, as much of them as 

 it can afford to pay for, and this is as much as it ever 

 can have. He takes occasion likewise in closing this sub- 

 ject to introduce a discussion on the coinage and in favour 

 of a moderate seignorage, a discussion out of place in 

 this part of his work, and which rather belonged, as he 

 himself admits, to the subdivision of the first book which 

 treated of money. Perhaps it more properly should have 

 formed another head of the expedients of the mercantile 

 system. In its present place it seems much more 

 entitled to the name of a digression than any one of the 

 three which have been so termed, with this difference, 

 that it has no kind of connexion with the subject to 

 which it is annexed, and can hardly, like those others, 

 have been suggested by it, excepting that it follows the 

 remarks on Portuguese gold. 



vi. The great subject of Colonial establishments con- 

 cludes this discussion of the expedients of the commer- 

 cial system. Dr. Smith first explains the motives for 

 planting new colonies ; secondly, the causes of their pros- 

 perity ; thirdly, the advantages which Europe has derived 

 from the discovery of America, and the easier communi- 

 cation by sea with India. 



1. The ancient colonies of Greece and Rome were 



