Glossary: Adam Smith’s Wealth of Nations
What follows is an incomplete (but growing) list of roughly 250 potentially confusing words used in Adam Smith’s great work, An Inquiry into the Nature and Causes of the Wealth of Nations (1776). This resource is curated by me, Chris MacDonald, for my students, but will hopefully be useful to others as well. Note that the intention here is not to provide precise definitions, but to provide rough synonyms that will aid in reading and comprehension.
In some case, the words listed here are listed because, in Smith’s 18th century usage, they risk being seriously misleading for modern readers. When Smith uses the word genius, for example, he doesn’t mean exceptional intelligence — he just means intellectual capacity or talent. When Smith says someone wants something, he doesn’t mean they desire it, but rather that they lack it. And when Smith uses the word police, he’s not referring to a law enforcement agency, but to a set of policies or regulations in some jurisdiction. Knowing these these bits of vocabulary makes it much easier to understand this important work. (If you want to see what’s been intentionally left out of this Glossary, see here.)
Other words listed in this glossary — words like abode, adulterated, and ascertain — are not likely to mislead, but are simply words that some readers may not be familiar with. (In some cases, such as the verb to let, Smith’s usage will be familiar to readers in the UK, but less so to readers in North America.)
Final note: this glossary is offered in the hopes that it will prove useful. No guarantees are offered. If you see something that looks like an error, please let me know by emailing me at chris.macdonald@ryerson.ca .
| What Smith says… | Example of Smith’s usage… | What Smith probably means, roughly… |
|---|---|---|
| 1st, 2nd, etc. (followed by the name of a king of queen) | “by the 1st of Elizabeth, the exportation of wheat was in the same manner prohibited” | first statute (law) passed during the reign of that king or queen |
| abode (n.) | “enter their names and places of abode in a public register” | living |
| address (n.) | “courage and address can be of no avail” | skill, or manner of behaving |
| adulterated (adj.) | “an adulterated composition of the coarsest and cheapest materials” | mixed with something else, usually for fraudulent purposes |
| adventure (v.) | “Adventure upon all the tickets in the lottery” | take a risk |
| adventurer (n.) | “A bold adventurer may sometimes acquire a considerable fortune” | risk-taker (in context, probably an investor) |
| affinity (n.) | “so much affinity to one another” | close relation |
| afford (v.) | “this difference affords a greater profit than what can be drawn from” | yield or produce |
| alienation (n.) | “the tenure of the lands, which are all held by free socage, facilitates alienation“ | the act of transferring |
| allodial (ad.) | “rights possessed allodially by the great proprietors of land” | without restrictions |
| amercement (n.) | “for those offences an amercement was thought due” | fine |
| anciently (adj) | “The like policy anciently took place both in France and England.” | formerly; previously; in old times |
| answer (v.) | 1. “must have answered completely the purpose for which it was intended” 2. “for answering occasional demands” | 1. serve 2. satisfy |
| answerable (adj.) | “answerable for the whole rent” | responsible |
| antecedent (adj.) | “antecedent to custom and education” | before |
| apprehend (v.) | 1. “there is not, I apprehend, much more smuggling in the one country than in the other” 2. “the dangers to liberty, whether real or imaginary, which are commonly apprehended from a standing army” | 1. understand 2. fear |
| apothecary (n.) | “The skill of an apothecary is” | one who prepares medicines; a pharmacist |
| arms (n.) | “skill of the soldiers in the use of their arms“ | weapons |
| art (n.) | “with the assistance of a little art“ | technology |
| artificer (n.) | “the most common artificer or day-labourer” | builder |
| ascertain (v.) | “in many cases to have been intended to ascertain“ | determine, or figure out |
| assize (n.) | “method of fixing the assize of bread” | a government order setting the price of something |
| assay (v.) | “The operation of assaying is still more difficult” | test the quality (of a metal) |
| avail (n.) | “courage and address can be of no avail“ | use, effect |
| avarice (n.) | “the avarice and injustice of princes and sovereign states” | greed |
| avoirdupois (n.) | “contain half a pound, avoirdupois, of copper” | referring to the standard 16-ounce pound |
| awful (adj.) | “with the same awful solemnity” | inspiring awe or reverence |
| bailiff (n.) | “accepted either by the sovereign, or by his bailiffs and substitutes, the judges” | a legal officer empowered to do things such as make arrests |
| barbarous (adj.) | “in the barbarous societies, as they are commonly called, of hunters, of shepherds, and” | uncivilized (or at a very basic level of civilization) |
| barrenness (adj.) | “the richness or barrenness of the mines which supply the market with that metal” | lack of productivity |
| beau (n.) | “to be a beau among his companions” | stylish man |
| benevolence (n.) | “it is in vain for him to expect it from their benevolence only” | good intentions |
| bill (n.) | “may have purchased a bill for a greater number of ounces of pure silver to be paid in Holland” | a piece of paper authorizing the payment of an amount of money |
| blank (n.) | “the loss of those who draw the blanks” | roughly: a losing ticket in a lottery |
| boat (n.) | “a discouragement to the boat fishery” | small vessel used on rivers |
| bottom (n.) | “The trade which is carried on in British bottoms” | a ship |
| bounty (n.) | “the parliamentary bounty upon the exportation of corn” | a payment made by government to encourage some industry |
| brazier (n.) | “becomes a smith or a brazier“ | someone whose job is to solder (join) things together with brass |
| brethren (n.) | “Man sometimes uses the same arts with his brethren“ | fellow man |
| burgher (n.) | “bestowed upon the burghers of the town” | citizen with the right to vote |
| buss (n.) | “caught by the herring buss fishery of Scotland” | small seagoing fishing vessel |
| bye-word (n.) | “become a bye-word, denoting something” | slang term |
| caprice (n.) | “removed from his office according to the caprice of that power” | whim |
| carriage (n.) | “the expense of land-carriage between London and Calcutta” | transportation, or shipping |
| carrying trade (n.) | “the carrying trade has been supposed peculiarly advantageous to such a country as Great Britain” | the business of transporting goods |
| chimerical (adj.) | “It would be altogether chimerical, therefore, to expect” | imaginary or unrealistic |
| clamour | “the clamour and sophistry of merchants” | outcry |
| clandestinely (adv.) | “bribing their own poor to go clandestinely to another parish” | secretly |
| coffer (n.) | “keep at all times in their coffers a greater quantity of cash” | a chest in which money is kept (literally or figuratively) |
| combination (n.) | “Were the workmen to enter into a contrary combination of the same kind” | collusion; a collective action to raise wages or prices |
| communicate (v.) | “establishing the easiest and safest communications both by land and by water” | to transport |
| computations | “without entering into any very nice computations“ | calculations |
| conceit (n.) | “The overweening conceit which the greater part of men” | belief, idea |
| concert (n.) | “acting in some sort of concert“ | cooperation |
| confound (v.) | “and thus confounds rent with profit” | confuses, or conflates |
| connive (v.) | “sometimes connived at such intrusions” | to scheme |
| considerable (adj.) | “to derive any considerable part of his revenue from them” | great, noteworthy |
| contempt (n.) | “rashness and presumptuous contempt of the risk” | disregard |
| contemptuously (adv.) | “how contemptuously soever the very contemptible authors of some of them may sometimes affect to speak of him” | with contempt or scorn |
| contrivance (n.) | “in some contrivance to raise prices” | scheme |
| convey (v.) | “immediately and directly conveys to him” | bring |
| corporation (n.) | “The exclusive privileges of corporations obstruct it from one place to another” | guild, or professional association |
| country (n.) | 1. “not so rich a country as England” 2. “scattered about in so desert a country as the Highlands of Scotland” 3. “the superiority of the industry of the towns over that of the country“ | 1. nation 2. region 3. rural area |
| creditable (n.) | “The son of a creditable labourer” | reputable |
| cruzado (n.) | “we might value it at eighteen millions of cruzadoes” | an old Portuguese coin |
| curate (n.) | “the usual pay of a curate or a stipendiary parish priest” | a priest, perhaps assistant to a parish priest |
| custom (n.) | 1. “In Scotland, custom has rendered them a necessary of life” 2. “As they give us their custom … we should give them ours” 3. “the revenue of customs occasioned by the bounties” | 1. habit or fashion 2. patronage 3. a duty (charge) paid to government on exports or imports |
| dear (adj.) | “It appears to him dear in the one case, and cheap in the other” | expensive |
| dearth (n.) | “the history of the dearths and famines” | (time of) scarcity |
| declension (n.) | “rise with the prosperity and fall with the declension of the society” | decline |
| dexterity (n.) | “the greatest skill and dexterity in the use of their” | expertise |
| diminution (n.) | “When the diminution of revenue is the effect” | reduction, lowering |
| discharge (v.) | “enable to discharge the first bill of exchange” | pay |
| discreditable (adj.) | “this discreditable method of evading immediate payment” | unethical |
| dissipate (v.) | 1. “have been dissipated in ornamental and unnecessary expenses” 2. “commonly dissipated and dispersed in the desert” | 1. spend lavishly 2. spread |
| diversion (n.) | “even for merriment and diversion“ | entertainment |
| docility (n.) | “the docility of the shepherd’s dog” | ability to be taught things |
| dominion (n.) | “In the ancient dominions of the King of Prussia” | territory ruled by a sovereign |
| draper (n.) | “in the hands of the growers, the manufacturers, the mercers and drapers” | someone who deals in cloth |
| drug (n.) | “a great number of foreign drugs for dyers’ use” | chemical ingredient |
| effectual (adj.) | “naturally suits itself to the effectual demand” | effective (or real, not hypothetical) |
| emoluments (n.) | “and raise their emoluments“ | financial advantages or pay |
| employ (v.) | “both thought of and employed for this purpose” | use |
| employment (n.) | 1. “In some employments, it has already been observed” 2. “the different employments of labour and stock” | 1. business 2.uses |
| encumber (v.) | “the folly of human laws too often encumbers its operations” | hinders or clogs |
| engross (v.) | “an unlawful engrosser” and “permitted the engrossing of corn” | to hoard or to gather an unfair share |
| entail (n.) | “When great landed estates were a sort of principalities, entails might not be unreasonable” | an estate that could only be transferred by inheritance, not sold |
| entice (v.) | “should entice him to go to sea” | lure, tempt |
| entreat (v.) | “entreat both the patience and attention of the reader” | ask for |
| enumerated (adj.) | “Among the non-enumerated commodities are some of the most important productions of” | listed by name in a piece of legislation |
| equipage (n.) | “The elegance of his dress, of his equipage, of his house, and household furniture,” | horse & carriage; minor personal possessions; trinkets |
| erection (n.) | “fifteen years after the first erection of the banks” | setting up (as in founding) |
| esteemed (adj.) | “such singular and esteemed productions” | highly regarded |
| estimation (n.) | “in the common estimation“ | opinion |
| exchequer (n.) | “received at the exchequer“ | public court where fees and taxes are paid |
| footing (n.) | “upon the same footing with an ordinary workman” | status |
| exigency (n.) | “If upon any public exigency it should become necessary” | significant need |
| factor (n.) | “to maintain factors and agents in the different ports” | agent or deputy |
| fawn (v.) | “endeavours by every servile and fawning attention” | to flatter |
| frugal (adj.) | “the credit of a frugal and thriving man” | careful with money |
| garb (n.) | “disguised in the garb of profit” | exterior appearance, or clothing |
| genius (n.) | “philosopher is not in genius and disposition half so different from a street porter” | intellectual power or talent |
| gilding (n.) | “the continual waste of them in gilding and plating” | the use of a thin layer of a precious metal as decoration |
| gratis (adj.) | “Justice, however, never was in reality administered gratis in any country” | for free |
| gravitate (v.) | “price, to which the prices of all commodities are continually gravitating” | to move towards |
| grazier (n.) | “separate so entirely the business of the grazier from that of the corn-farmer” | farmer who raises livestock |
| gross (adj.) | “people must always have been liable to the grossest frauds” | serious |
| habitation (n.) | “afforded a very comfortable habitation“ | home |
| hairbreadth (adj.) | “The dangers and hairbreadth escapes” | very narrow |
| hazard (v.) | “the undertaker of the work who hazards his stock in this adventure” | to put at risk |
| higgling (n.) | “the higgling and bargaining of the market” | use of many words in bargaining |
| homage (n.) | “held by the noble tenure of chivalry and homage“ | duty or loyalty |
| homely (adj.) | “the few homely and coarse manufactures that were carried on” | not elegant |
| husbandry (n.) | “the price of any instrument of husbandry“ | cultivating (probably land, but perhaps also animals) |
| immediately (adj.) | “paid either immediately or mediately from the wages of labour” | directly |
| improvement (n.) | “the superior opulence and improvement of the latter country” | level of development |
| impute (adj.) | “Mr. Locke imputed this high price to the permission of exporting” | to attribute |
| inconveniences (n.) | “all the inconveniences which his crew can thereby suffer” | difficulties |
| indigence (n.) | “the affluence of the few supposes the indigence of the many.” | |
| Indostan (n.) | “In China and Indostan accordingly both the rank and the wages” | India |
| industry (n.) | 1. “a more extensive market is opened to every sort of industry“ 2. “diminish the produce of their industry“ | 1. business 2. effort, hard work |
| inferior (adj.) | 1. “Men of inferior wealth combine to defend those of superior wealth” 2. “the industry and zeal of the inferior clergy” | 1. lesser 2. lower-ranks |
| insolence (n.) | “both the insolence of the oppressors and the hatred and indignation of the oppressed” | haughty, overbearing attitude |
| kitchen-grate (n.) | “the kitchen-grate at which he prepares his victuals” | stove |
| late (adj.) | “A late Act of Parliament has, in this respect” | recent |
| let (v.) | “not only to their proprietor who lets them for a rent” | to rent |
| liberality (n.) | “reward their talents with the most profuse liberality“ | generosity |
| lighter (n.) | “the number and tonnage of the lighters which are likely to carry goods upon it” | small boat (perhaps used to unload larger ships) |
| livre (n.) | “The French livre contained in the time of Charlemagne” | an old French unit of currency |
| loch (n.) | “It is to these sea-lochs that the herrings principally resort during the seasons” | a lake, or a lake-like inlet from the sea |
| magazine (n.) | “to purchase corn by wholesale, to collect it into a great magazine“ | storehouse or warehouse |
| magnify (v.) | “The few European travellers who had been there had magnified the distance” | to exaggerate |
| maintenance (n.) | “for the employment and maintenance of industrious people” | provision of the necessities of life |
| mandamus (n.) | “A mandamus was once moved” | official government order |
| manufactory (n.) | “a small manufactory of this kind where ten men only were employed” | place of manufacture; a factory |
| manufacture (n.) | “in what manner it operates in some particular manufactures” | industry |
| manufacturer (n.) | “the labour of a manufacturer adds, generally, to the value of the materials which he works upon” | worker (especially one who makes things) |
| marine (n.) | “The marine of France was considerable” | seagoing capacity |
| maxim (n.) | “It may be laid down as a maxim“ | rule or principle |
| meal (n.) | “quantity of flour or meal which it yields” | the edible part of corn |
| meanest (adj.) | “the tools of the meanest of those workmen” | lowest (in rank or quality) |
| meanly (adv.) | “have in several places been meanly supplied” | ungenerously |
| mechanic (adj.) | “There is scarce any common mechanic trade” | manufacturing |
| mediately (adj.) | “paid either immediately or mediately from the wages of labour” | indirectly |
| menial servant (n.) | “The labour of a menial servant” | household servant |
| mercantile (adj.) | 1. “By raising the rate of mercantile profit, the monopoly discourages” 2. “those vulgar prejudices which have been introduced by the mercantile system” | 1. related to the activities of merchants 2. related to a system of thought (“mercantilism”) that sees a nation’s economic growth as resulting from (roughly) exporting more than they import |
| merchantable (adj.) | “The price of a barrel of good merchantable herrings” | suitable for sale |
| merk (n.) | “after the middle of the fourteenth century, five merks, containing about as much silver” | an old type of Scottish coin |
| merriment (n.) | “even for merriment and diversion” | fun |
| middling (adj.) | “A middling farmer will there sometimes have four hundred fowls” | of moderate range or middle quality |
| money (n.) | “The whole capital of a merchant frequently consists in perish, able goods destined for purchasing money“ | cash (typically gold or silver coins) |
| Muscovia (n.) | “the hundredweight of all spruce or Muscovia yarn” | Moscow |
| neat (adj.) | “It is this surplus only which is neat or clear profit.” | net (in the financial sense) |
| necessaries (n.) | “all the necessaries and conveniences of life” | necessities |
| nice (adj.) | “A house carpenter seems to exercise rather a nicer and more ingenious trade than a mason” | accurate; delicate |
| nominal (adj.) | “it may be of use to distinguish between real and nominal price” | only in name; not real |
| occasion (n.) | “the produce of other men’s labour as he has occasion for” | need |
| occasion (v.) | “than could have been occasioned by a very great public calamity” | cause |
| odious (adj.) | “The trade of a butcher is a brutal and an odious business” | awful; hideous |
| odium (n.) | “exposed to popular odium“ | hatred or blame |
| of (prep.) | “the consumer is prevented by high duties from purchasing of a neighbouring country” | from |
| offal (n.) | “The little offals of their own table” | food waste or garbage |
| offices (n.) | “those mutual good offices which we stand in need of” | services |
| opulence (n.) | “the superior opulence and improvement of the latter country” | wealth |
| ostentation (n.) | “splendid even to ostentation“ | flashiness or showiness |
| overseer (n.) | “Common farmers seldom employ any overseer“ | manager |
| overweening (n.) | “The overweening conceit which the greater part of men” | thinking too highly of something |
| peculiar (adj.) | “the whole work is a peculiar trade” | specific |
| pecuniary (adj.) | “Though pecuniary wages and profit are…” | pertaining to money |
| pension (n.) | “the pensions of the younger branches of the royal family,” | annual allowance |
| perspicuous (adj.) | “in order to be sure that I am perspicuous“ | clearly expressed |
| plate, plating (v.) | “the continual waste of them in gilding and plating” | coating with a precious metal |
| police (n.) | “The police must be as violent as that of Indostan or ancient Egypt” | policies or regulations |
| porter (n.) | “between a philosopher and a common street porter“ | courier |
| posterity (v.) | “leave it as a legacy to his posterity“ | descendents |
| precedency (n.) | “By the rules of precedency“ | priority, rank |
| preferment (n.) | “they have scarce any chance of preferment“ | advancement, promotion |
| prerogative (n.) | “But this prerogative of the crown” | right or entitlement |
| presumtuous (adj.) | “the presumptuous hope of success” | overconfident, arrogant |
| pretend (v.) | “pretending to demonstrate that the wealth of the nation was fast declining” | to claim |
| primogeniture (n.) | “the right of primogeniture, and of what is called lineal succession” | the right of the first-born of a family to inherit the parents’ wealth |
| probity (n.) | “their opinion of his fortune, probity, and prudence” | honesty, uprightness |
| produce (n.) | “usually the produce of two days’ or two hours’ labour” | product, result |
| productions (n.) | “such singular and esteemed productions“ | products |
| profuse (adj.) | “reward their talents with the most profuse liberality” | lavish, extreme |
| projector (n.) | “When a projector attempts to establish a new manufacture” | one who undertakes a project (perhaps foolishly) |
| propensity (n.) | “a certain propensity in human nature” | tendency |
| proprietor (n.) | “had the farmer been proprietor, he might have employed in the further improvement of the land.” | owner (of land) |
| prudence (n.) | “their opinion of his fortune, probity, and prudence“ | carefulness |
| Prussia (n.) | “In the ancient dominions of the King of Prussia“ | a particular state of what is now Germany |
| purveyor (n.) | “at a price regulated by the purveyor“ | seller |
| quarter (n.) | “the common price of wheat was not less than four ounces of silver the quarter“ | a unit of measure equal to 8 bushels (or about 282 litres) |
| quit (v.) | “he quits it when he foresees that its profits are likely to return to the level of other trades” | to leave |
| quit-rent (v.) | “the rent which they paid was often nominally little more than a quit-rent“ | money rent paid in place of services owed to a landlord |
| rapine (n.) | “The rapine and violence which the barbarians exercised against the ancient inhabitants” | plundering |
| recompense | “give their spare time for a very small recompense“ | compensation, wage |
| requisite (adj.) | “than would otherwise have been requisite“ | needed, or required |
| resolves (v.) | “that part of price which resolves itself into labour” | can be attributed to |
| resort (v.) | “It is to these sea-lochs that the herrings principally resort during the seasons” | to go to |
| retard (v.) | “they must necessarily have retarded the progress of the greater part of Europe” | hold back, hinder, or slow down, |
| room (n.) | “This tax was afterwards repealed, and in the room of it was established the window-tax,” | place or space |
| rude (adj.) | “the raising of rude produce by the improvement and cultivation of land” | basic, unrefined |
| ruinous (adj.) | “ruinous to the creditor” | tending to ruin (financially) |
| sagacity (n.) | “the sagacity of the spaniel” | intelligence |
| scarce (adj.) | “an ordinary market town is scarce large enough” | hardly |
| scholar (n.) | “he is said to have had a hundred scholars” | student |
| seignorage (n.) | “In England no duty or seignorage is paid upon the coinage” | fee charged by a mint to stamp a coin |
| sensible (adj.) | “may not be so distinct and sensible“ | detectable; perceptible |
| servant (n.) | “to prohibit the servants of the company from trading upon their own account” | local manager or agent for a company (but also somthetimes it just means “servant” in the household sense) |
| servile (adj.) | “endeavours by every servile and fawning attention” | slavish |
| singular (adj.) | “such singular and esteemed productions” | unique |
| situation | “The neighbourhood of the sea-coast, and the banks of all navigable rivers, are advantageous situations for industry” | location |
| small beer (n.) | “a liquor which is as cheap as small beer“ | weak beer |
| smith (n.) | “In the same manner a third becomes a smith“ | blacksmith |
| sober (adj.) | “The soberest people scarce look upon it as a folly” | careful, cautious |
| socage (n.) | “the tenure of the lands, which are all held by free socage, facilitates alienation” | possession of land in return for some sort of service to a landlord |
| sophistry (n.) | “the clamour and sophistry of merchants” | fallacious (faulty) reasoning |
| species (n.) | “whatever talent or genius he may possess for that particular species of business” | type or kind |
| spendthrift (n.) | “unless perhaps the borrower is a spendthrift“ | one who spends wastefully |
| stipendiary (adj.) | “the usual pay of a curate or a stipendiary parish priest” | paid a stipend or regular salary |
| stock (n.) | “the accumulation of stock and the appropriation of land” | resources, materials, goods (depending on context)1 |
| subsistence (n.) | “whom they will supply with materials and subsistence“ | means of living (food, etc.) |
| suffer (v.) | “it very seldom happens, therefore, that anybody suffers his receipt to expire” | to allow (but Smith sometimes also uses “suffer” in the modern sense referring to pain) |
| sufferance (n.) | “may sometimes reside by sufferance without one” | permission |
| sumptuary law (n.) | “such taxes would operate less as sumptuary laws” | a law designed to limit excessive spending |
| superfluity (n.) | “to purchase, a part of this superfluity“ | excess, or surplus |
| surety (n.) | “two persons of undoubted credit and good landed estate to become surety for him” | guarantee or guarantor |
| surmount (v.) | “exercising the one and of surmounting the other” | overcome |
| tale (n.) | “received by weight and not by tale“ | measurement |
| Tartar (n.) | “Among the Tartars, even the women have been frequently known to engage in battle.” | people of central Asia2 |
| tenement (n.) | “Their small tenement made a considerable part of it” | a house and land usually given in exchange for labour |
| thither (adv.) | “when they were brought thither“ | there |
| though (conj.) | “a man born to a great fortune, even though naturally frugal, is very seldom capable” | if (but Smith also sometimes uses it the same way we do) |
| tillage (n.) | “the same proportion of the lands in tillage“ | the practice of plowing the land |
| together (adj.) | “they may sometimes be able to keep the secret for several years together“ | in a row |
| toil (n.) | “what we acquire by the toil of our own body” | labour |
| Tower-weight (n.) | “not to have been estimated lower than four ounces of silver, Tower weight, equal to about” | referring to the system of measures once used by the English mint, located in the Tower of London |
| treat (n.) | “The Second Book, therefore, treats of the nature of capital stock” | to discuss |
| treaty (n.) | “it is by treaty, by barter, and by purchase that we obtain” | negotiation |
| trifling (adj.) | “a very trifling manufacture” | unimportant, minor |
| truck (v.) | “this same trucking disposition” | to engage in exchange |
| turnpike (n.) | “At many turnpikes, it has been said, the money levied is more than” | toll gate |
| undertaker (n.) | “the undertaker of the work” | one who does something (one who “undertakes” a task) |
| unwholesome (adj.) | “trades which are known to be very unwholesome“ | unhealthy |
| usury (n.) | “probably rather increased than diminished the evil of usury“ | the lending of money and charging interest |
| venison (n.) | “He frequently exchanges them for cattle or for venison with his companions” | the meat of a deer |
| victuals (n.) | “the kitchen-grate at which he prepares his victuals“ | meals |
| villain (n.) | “gradually encouraged their villains to make upon” | servant |
| violence (n.) | “serves only to inflame the violence of national animosity” | force |
| want (v.) | “cannot be supplied with the quantity which they want“ | lack (regardless of desire) |
| wanton (adj.) | “the wealth and wanton luxury” | excessive |
| warrant (v.) | “I mean not to warrant the exactness of either of these computations” | to swear to |
| worsted (adj.) | “In the same islands they knit worsted stockings” | made of spun wool |
| wrought (v.) | “to have wrought for less wages than other labourers” | worked |
| yeomanry (n.) | “Those laws and customs so favourable to the yeomanry have perhaps contributed more” | the class of gentleman farmers |
| 250 | © Chris MacDonald |
The full text of An Inquiry into the Nature and Causes of the Wealth of Nations by Adam Smith is available for free, here: https://www.gutenberg.org/files/3300/3300-h/3300-h.htm
Footnotes:
1. In his book, Adam Smith, R.H. Campbell provides this more technical explanation: “By stock Smith meant either fixed capital (such as that embodied in plant, ‘useful machines’) or circulating capital (devoted to the purchase of raw materials or labour).”
2. “Tartar” was not a word used by central Asians themselves, but by Western Europeans as a generic term for people from that entire region.
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Glossary: Adam Smith's Wealth of Nations 