My purpose is to explain, not the meaning of words, but the nature of things.

I pass, at length, to the third and perfectly absolute dominion, which we call democracy.

God is the Immanent Cause of all things, never truly transcendent from them.

Speaking generally, he holds dominion, to whom are entrusted by common consent affairs of state - such as the laying down, interpretation, and abrogation of laws, the fortification of cities, deciding on war and peace, &c. But if this charge belong to a council, composed of the general multitude, then the dominion is called a democracy; if the council be composed of certain chosen persons, then it is an aristocracy ; and, if, lastly, the care of affairs of state, and, consequently, the dominion rest with one man, then it has the name of monarchy.

Of all the things that are beyond my power, I value nothing more highly than to be allowed the honor of entering into bonds of friendship with people who sincerely love truth. For, of things beyond our power, I believe there is nothing in the world which we can love with tranquility except such men.

The evident justice and utility of the foregoing maxims have recommended them more or less to the attention of all nations.

If a workman can conveniently spare those three halfpence, he buys a pot of porter. If he cannot, he contents himself with a pint, and, as a penny saved is a penny got, he thus gains a farthing by his temperance.

But though empires, like all the other works of men, have all hitherto proved mortal, yet every empire aims at immortality.

That of beaver skins, of beaver wool, and of gum Senega, has been subjected to higher duties; Great Britain, by the conquest of Canada and Senegal, having got almost the monopoly of those commodities.

The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. A tax upon house-rents, therefore, would in general fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be anything very unreasonable. It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.

I. The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities, that is, in proportion to the revenue which they respectively enjoy under the protection of the state.

The value of money is in proportion to the quantity of the necessaries of life which it will purchase.

Every tax, however, is to the person who pays it a badge, not of slavery but of liberty. It denotes that he is a subject to government, indeed, but that, as he has some property, he cannot himself be the property of a master.

II. The tax which each individual is bound to pay ought to be certain, and not arbitrary.

But bounty and hospitality very seldom lead to extravagance; though vanity almost always does.

There is no art which one government sooner learns of another than that of draining money from the pockets of the people.

III. Every tax ought to be levied at the time, or in the manner, in which it is most likely to be convenient for the contributor to pay it.

When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it has ever been brought about at all, has always been brought about by bankruptcy; sometimes by an avowed one, but always by a real one, though frequently by a pretend payment.

All registers which, it is acknowledged, ought to be kept secret, ought certainly never to exist.

IV. Every tax ought to be contrived as both to take out and to keep out of the pockets of the people as little as possible, over and above what it brings into the public treasury of the state.

The rulers of Great Britain have, for more than a century past, amused the people with the imagination that they possessed a great empire on the west side of the Atlantic. This empire, however, has hitherto existed in imagination only.

It may indeed be doubted, whether butcher's meat is any where a necessary of life. Grain and other vegetables, with the help of milk, cheese, and butter, or oil, where butter is not to be had, it is known from experience, can, without any butcher's meat, afford the most plentiful, the most wholesome, the most nourishing, and the most invigorating diet.

The annual produce of the land and labour of any nation can be increased in its value by no other means, but by increasing either the number of its productive labourers, or the productive powers of those labourers who had before been employed.

In every country it always is and must be the interest of the great body of the people to buy whatever they want of those who sell it cheapest. The proposition is so very manifest that it seems ridiculous to take any pains to prove it; nor could it ever have been called in question had not the interested sophistry of merchants and manufacturers confounded the common sense of mankind. Their interest is, in this respect, directly opposite to that of the great body of the people.

The establishment of any new manufacture, of any new branch of commerce, or any new practice in agriculture, is always a speculation, from which the projector promises himself extraordinary profits. These profits sometimes are very great, and sometimes, more frequently, perhaps, they are quite otherwise; but in general they bear no regular proportion to those of other older trades in the neighbourhood. If the project succeeds, they are commonly at first very high. When the trade or practice becomes thoroughly established and well known, the competition reduces them to the level of other trades.

Goods can serve many other purposes besides purchasing money, but money can serve no other purpose besides purchasing goods.

Upstart greatness is everywhere less respected than ancient greatness.

The interest of the dealers, however, in any particular branch of trade or manufactures, is always in some respects different from, and even opposite to, that of the public. To widen the market and to narrow the competition, is always the interest of the dealers.

When the act of navigation was made, though England and Holland were not actually at war, the most violent animosity subsisted between the two nations. ... It is not impossible, therefore, that some of the regulations of this famous act may have proceeded from national animosity. They are as wise, however, as if they had all been dictated by the most deliberate wisdom. National animosity at that particular time aimed at the very same object which the most deliberate wisdom would have recommended, the diminution of the naval power of Holland, the only naval power which could endanger the security of England.

It is unjust that the whole of society should contribute towards an expence of which the benefit is confined to a part of the society.

By the removal of the unnecessary mouths, and by extracting from the farmer the full value of the farm, a greater surplus, or what is the same thing, the price of a greater surplus, was obtained for the proprietor...

To found a great empire for the sole purpose of raising up a people of customers, may at first appear a project fit only for a nation of shopkeepers. It is however, a project altogether unfit for a nation of shopkeepers; but extremely fit for a nation whose government is influenced by shopkeepers.

Good roads, canals, and navigable rivers, by diminishing the expence of carriage, put the remote parts of the country more nearly upon a level with those of the neighbourhood of the town. They are upon that the greatest of all improvements.

To give the monopoly of the home-market to the produce of domestic industry, in any particular art or manufacture, is in some measure to direct private people in what manner they ought to employ their capitals, and must, in almost all cases, be either a useless or a hurtful regulation.

The trade of insurance gives great security to the fortunes of private people, and by dividing among a great many that loss which would ruin an individual, makes it fall light and easy upon the whole society.

Though the profusion of Government must undoubtedly have retarded the natural progress of England to wealth and improvement, it has not been able to stop it.

Mercantile jealousy is excited, and both inflames, and is itself inflamed, by the violence of national animosity.

The world neither ever saw, nor ever will see, a perfectly fair lottery.

It is not for its own sake that men desire money, but for the sake of what they can purchase with it.

Justice, however, never was in reality administered gratis in any country. Lawyers and attornies, at least, must always be paid by the parties; and, if they were not, they would perform their duty still worse than they actually perform it.

The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.

The act of navigation is not favourable to foreign commerce, or to the growth of that opulence which can arise from it. ... As defence, however, is of much more importance than opulence, the act of navigation is, perhaps, the wisest of all the commercial regulations of England.

Lands for the purposes of pleasure and magnificence, parks, gardens, public walks, &c. possessions which are every where considered as causes of expence, not as sources of revenue, seem to be the only lands which, in a great and civilized monarchy, ought to belong the crown.

A merchant, it has been said very properly, is not necessarily the citizen of any particular country.

Monopoly of one kind or another, indeed, seems to be the sole engine of the mercantile system.

With the greater part of rich people, the chief enjoyment of riches consists in the parade of riches, which in their eye is never so complete as when they appear to possess those decisive marks of opulence which nobody can possess but themselves.

What is prudence in the conduct of every private family, can scarce be folly in that of a great kingdom.

In England, success in the profession of the law leads to some very great objects of ambition; and yet how few men, born to easy fortunes, have ever in this country been eminent in that profession?

It is the highest impertinence and presumption, therefore, in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expence, either by sumptuary laws, or by prohibiting the importation of foreign luxuries. They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expence, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will.

In public, as well as in private expences, great wealth may, perhaps, frequently be admitted as an apology for great folly.