Note A2-1-14 — Chapter III

This is true, especially of the protectionist weekly paper: British Merchant or Commerce preserved (1713 ff.), in the contest with the weekly Tory paper edited by Defoe: Mercator or Commerce retrieved, which Charles King systematized and published anew in 1721. Later Ulloa: Noticias Americanas (1772), cap. 12. Adam Smith also concedes that many of the best writers on commerce, at the beginning of their books, allow that the wealth of a country consists not only in gold and silver, but also in goods of every description; but that further on they tend more and more to forget this qualification of the meaning of wealth. (W. of N., IV, ch. 1.) Hence it is that, in recent text-books, so many are now called adherents and now opponents of the mercantile system.