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Adam Smith

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But what all the violence of the feudal institutions could never have effected, the silent and insensible operation of foreign commerce and manufactures gradually brought about.
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Chapter IV, p. 448

 
Adam Smith

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The principal lever relied on by the insurgents for exciting foreign nations to hostility against us, as already intimated, is the embarrassment of commerce. Those nations, however, not improbably saw from the first that it was the Union which made as well our foreign as our domestic commerce. They can scarcely have failed to perceive that the effort for disunion produces the existing difficulty, and that one strong nation promises more durable peace and a more extensive, valuable, and reliable commerce than can the same nation broken into hostile fragments.

 
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If the system of perfect liberty to industry and commerce were the prevailing system of nations, the arguments which dissuade a country in the predicament of the United States, from the zealous pursuits of manufactures would doubtless have great force. (...) But the system which has been mentioned, is far from characterising the general policy of Nations. The prevalent one has been regulated by an opposite spirit. The consequence of it is, that the United States are to a certain extent in the situation of a country precluded from foreign Commerce. They can indeed, without difficulty obtain from abroad the manufactured supplies, of which they are in want; but they experience numerous and very injurious impediments to the emission and vent of their own commodities. (...) In such a position of things, the United States cannot exchange with Europe on equal terms, and the want of reciprocity would render them the victim of a system, which should induce them to confine their views to Agriculture and refrain from Manufactures. A constant and increasing necessity, on their part, for the commodities of Europe, and only a partial and occasional demand for their own, in return, could not but expose them to a state of impoverishment, compared with the opulence to which their political and natural advantages authorise them to aspire.

 
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Professional opinion is almost inevitably against changes. It has been the operation of these and similar influences which has brought about, as I fear, a return to the old conception of what is called power diplomacy. To these conceptions, it is not too much to say, the idea of the complete opposition of war and peace was really foreign.

 
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It is the natural effect of improvement, however, to diminish gradually the real price of almost all manufactures.

 
Adam Smith
 

The feudal warranty is, doubtless derived from the ancient duty of the feudal lord to protect his liege man 'with fire and sword against all deadly'. It was of the essence of the feudal bond, that the vassal should be under his lord's protection.

 
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