ADAM SMITH, LL. D.

AND F. R. S. OF LONDON AND EDINBURGH:
ONE OF THE COMMISSIONERS OF HIS MAJESTY'S CUSTOMS
IN SCOTLAND;

AND FORMERLY PROFESSOR OF MORAL PHILOSOPHY

IN THE UNIVERSITY OF GLASGOW.

VOL. I.

BASIL:

Printed for J. J. TOURNEISEN and J. L. LEGRAND.

MDCCXCI.

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!

ADVERTISEMENT

TO THE

THIRD EDITION.

THE firft Edition of the following Work was printed in the end of the year 1775, and in the beginning of the year 1776. Through the greater part of the Book, therefore, whenever the present state of things is mentioned, it is to be understood of the state they were in, either about that time or at fome earlier period, during the time I was employed in writing the Book. To the third Edition, however, I have made feveral additions, particularly to the chapter upon Drawbacks, and to that upon Bounties; likewife a new chapter entitled, The Conclufion of the Mercantile System; and a new article to the chapter upon the expenfes of the fovereign. In all these additions, the present fate of things means always the state in which they were during the year 1783 and the beginning of the year 1784.