The Wealth of Nations by Part 4 Chapter 7 Page 196

at home; Great Britain might have just reason to fear that it never would amount to that proper proportion. The Parliament of Great Britain has not for some time past had the same established authority in the colonies, which the French king has in those provinces of France which still enjoy the privilege of having states of their own. The colony assemblies, if they were not very favourably disposed (and unless more skilfully managed than they ever have been hitherto, they are not very likely to be so) might still find many pretences for evading or rejecting the most reasonable requisitions of Parliament.

A French war breaks out, we shall suppose; ten millions must immediately be raised in order to defend the seat of the empire. This sum must be borrowed upon the credit of some Parliamentary fund mortgaged for