Adam Smith's Simplified Wealth of Nations, Book 4, Chapter 7b, Part 2: The Causes of Prosperity of new Colonies

Chapter 7b, Part 2: The Causes of Prosperity of new Colonies

23 The colony of a civilised nation which acquires a waste country or one thinly inhabited, advances more rapidly to wealth and greatness than any other human society.

24 The colonists carry with them a knowledge of agriculture and useful arts superior to what was naturally known by barbarous nations. 25 In other countries, rent and profit eat up wages. 26 Many ancient Greek colonies progressed very rapidly towards wealth and greatness. 27 The history of the Roman colonies is not so brilliant. 28 In the plenty of good land, the European colonies in America and the West Indies resemble and greatly surpass those of ancient Greece. 29 The crown of Spain derived some revenue from its colonies by its share of gold and silver. 30 After the Spanish settlements, those of the Portuguese in Brazil are the oldest European settlement in America. 31 Towards the end of the 15th and during the 16th century, Spain and Portugal were the two great naval powers. 32 The Swedes established New Jersey. 33 The small islands of St. Thomas and Santa Cruz are the only Danish colonies in America. 34 The Dutch settlements in the West and East Indies, were originally under the government of an exclusive company. 35 During the last and present centuries, the French colony of Canada was under the government of an exclusive company. 36 The French colony of St. Domingo was established by pirates and free-booters.
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