This chapter deals with colonies. Smith begins by discussing ancient Greek and Roman colonies, in order to contrast them with the colonies of his day. I don’t know enough history to be certain, but I get the feeling that the ancient colonies had nothing in common with the more modern ones except the name, so I’m not sure if the comparison is actually valid. Smith, in any case, does not seem to be a big fan of colonialism.
Page 421: “Projects of mining, instead of replacing the capital employed in them, together with the ordinary profits of stock, commonly absorb both capital and profit.” His point being that mining is risky, and therefore should not be especially encouraged by extraordinary laws lest it be harmful to the economy in general.