Spencer's candidate for a Stigler quote also reveals Stigler's 
ignorance, since Smith condemned the sort of government the East 
India Company was providing in India.  It is found in WN IV.vii.c the 
last several paragraphs which conclude with the following: "Such 
exclusive companies, therefore, are nuisances in every respect; 
always more or less inconvenient to the countries in which they are 
established, and destructive to those which have the misfortune to 
fall under their government."  Quoting Stigler on Smith will 
seriously distort Smith.

Jeff Young