His prediction remains to posterity, a memorable instance of the weakness from which the strongest minds are not exempt.

Adam Smith saw a little and but a little further.
He admitted that, immense as the burden was, the nation did actually sustain it and thrive under it in a way which nobody could have foreseen.

But he warned his countrymen not to repeat so hazardous an experiment.

The limit had been reached.

Even a small increase might be fatal.