Some closing thoughts on the herring bounty scam

Thus far this week (see here and here), we have been rehearsing Adam Smith’s first set of arguments against the herring bounty in Addition #11 of his 1784 pamphlet Additions and Corrections to the First and Second Editions of Dr. Adam Smith’s Inquiry into the Nature and Causes of the Wealth of Nations. But Smith saves the best for last, so let’s take a closer look at the last two paragraphs of Addition #11. To begin, Smith tries to find one last-ditch way of defending the herring bounty in the penultimate paragraph of Addition #11: “If any particular manufacture was necessary, indeed, for the defence of the society, it might not always be prudent to depend upon our neighbours for the supply; and if such manufacture could not otherwise be supported at home, it might not be unreasonable that all the other branches of industry should be taxed in order to support it. The bounties upon the exportation of British-made sailcloth and British-made gunpowder may, perhaps, both be vindicated…