The Wealth of Nations by Part 4 Chapter 7 Page 128

present. The trade of the colonies, of which England, even for some time after the Act of Navigation, enjoyed but a part (for the Act of Navigation was not very strictly executed till several years after it was enacted), could not at that time be the cause of the great trade of England, nor of the great naval power which was supported by that trade.

The trade which at that time supported that great naval power was the trade of Europe, and of the countries which lie round the Mediterranean Sea. But the share which Great Britain at present enjoys of that trade could not support any such great naval power. Had the growing trade of the colonies been left free to all nations, whatever share of it might have fallen to Great Britain, and a very considerable share would probably have fallen to her, must have been all an