Adam Smith：The Wealth of Nations, Book V, Chapter I, Paragraph 1754

Even where the reward of the master does not arise altogether from this natural revenue, it still is not necessary that it should be derived from that general revenue of the society, of which the collection and application are, in most countries, assigned to the executive power. Through the greater part of Europe, accordingly, the endowment of schools and colleges makes either no charge upon that general revenue, or but a very small one. It everywhere arises chiefly from some local or provincial revenue, from the rent of some landed estate, or from the interest of some sum of money, allotted and put under the management of trustees for this particular purpose, sometimes by the sovereign himself, and sometimes by some private donor.

Source： https://www.gutenberg.org/ebooks/3300
Locator：Book V, Chapter I, paragraph 1754 · Verified：2026-10-19 · Verification：Exact match

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