Adam Smith was living in Edinburgh in October 1777 when a distraught friend brought news of the surrender of British General Burgoyne at Saratoga, exclaiming in the deepest distress that the British Empire was ruined.

“There is much ruin in a nation,” Smith replied.

Surrender_of_General_Burgoyne

John Trumbull’s 12′ x 18′ painting of Gen. John Burgoyne’s surrender, which hangs in the Rotunda of the US Capitol

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