Chapter XXXIII: Book IV: Of Systems of Political Economy

Political economy, considered as a branch of the science of a statesman or
legislator, proposes two distinct objects; first, to provide a plentiful
revenue or subsistence for the people, or, more properly, to enable them
to provide such a revenue or subsistence for themselves; and, secondly, to
supply the state or commonwealth with a revenue sufficient for the public
services. It proposes to enrich both the people and the sovereign.

The different progress of opulence in different ages and nations, has
given occasion to two different systems of political economy, with regard
to enriching the people. The one may be called the system of commerce, the
other that of agriculture. I shall endeavour to explain both as fully and
distinctly as I can, and shall begin with the system of commerce. It is
the modern system, and is best understood in our own country and in our
own times.