Page:The wealth of nations, volume 3.djvu/457

 Smuggling, a tempting, but generally a ruinous employment, i. 181.—Encouraged by high duties, iii. 305; remedies against, 308; the crime of, morally considered, ibid.

Society, human, the first principles of, i. 56–57.

Soldiers, remarks on their motives for engaging in the military line, i. 179; comparison between the land and sea service, 179–180.—Why no sensible inconvenience is felt by the disbanding of great numbers after a war is over, ii. 179–180.—Reason of their first serving for pay, iii. 49; how they became a distinct class of the people, 54; how distinguished from the militia, ibid.; alteration in their exercise produced by the invention of firearms, 55.

South Sea Company, amazing capital once enjoyed by, iii. 112; mercantile and stock-jobbing projects of, 116; assiento contract, ibid.; whale fishery, 117; the capital of, turned into annuity stock, 117–118, 353–354.

Sovereign and trader, inconsistent characters, iii. 216.

Sovereign, three duties only, necessary for him to attend to, for supporting a system of natural liberty, iii. 42; how he is to protect the society from external violence, 44, 66; and the members of it, from the injustice and oppression of each other, 68; and to maintain public works and institutions, 85.

Spain, one of the poorest countries in Europe, notwithstanding its rich mines, i. 355.—Its commerce has produced no considerable manufactures for distant sale, and the greater part of the country remains uncultivated, ii. 121; Spanish mode of estimating their American discoveries, 125; the value of gold and silver there, depreciated by laying a tax on the exportation of them, 236; agriculture and manufactures there, discouraged by the redundancy of gold and silver, 237; natural consequences that would result from taking away this tax, 238; the real and pretended motives of the court of Castile for taking possession of the countries discovered by Columbus, 305; the tax on gold and silver, how reduced, 306; gold, the object of all the enterprises to the new world, ibid.; the colonies of, less populous than those of any other European nation, 313; asserted an exclusive claim to all America, until the miscarriage of their Invincible Armada, 316; policy of the trade with the colonies, 325; the American establishments of, effected by private adventurers, who received little beyond permission from the government, 344; lost its manufactures by acquiring rich and fertile colonies, 373.—The alcavala tax there explained, iii. 331; the ruin of the Spanish manufactures attributed to it, 332.

Speculation, a distinct employment in improved society, i. 51; speculative merchants described, 184.

Stage, public performers on, paid for the contempt attending their profession, i. 176.—The political use of dramatic representations, iii. 183.

Stamp duties in England and Holland, remarks on, iii. 276–280.

Steel-bow tenants in Scotland, what, ii. 84.

Stock, the profits raised on, in manu-