How we cite our quotes: (Book.Chapter.Paragraph)
Quote #7
The high rate of profit seems every where to destroy that parsimony which in other circumstances is natural to the character of the merchant. (4.7.40)
Smith hates it when merchants get a monopoly over a certain part of the economy because they have no incentive to behave smartly. They lose their competitive edge because they have no competitors and their pride causes them to get lazy and sloppy.
Quote #8
The most visionary enthusiast would scarce be capable of proposing such a measure, with any serious hopes at least of its ever being adopted. (4.7.45)
No matter how much evidence piles up, it seems like the people of Smith's time are doomed to be blinded by their pride. Smith has shown in many different ways how having colonies is bad for the economy of the mother country. But hey, people like to have colonies because it makes them feel all big and powerful… so it's unlikely that they'll give up those colonies without a fight.
Quote #9
If it was adopted, however, Great Britain would not only be immediately freed from the whole annual expence of the peace establishment of the colonies, but might settle with them such a treaty of commerce as would effectually secure her a free trade. (4.7.45)
If only it could see through its foolish pride and do the right thing, England would let go of its colonies and avoid spending so much of its money in keeping them under control.