Cadell House is situated in a secluded location, off Canongate between the restored 17th century public garden, Dunbar Close, stretching the length of one of the long burgh plots and behind the 1930s residential development by Sir Basil Spence which fronts the Canongate. Cadell House is a good survival of an 18th century merchants house retaining its original plan form. The blind gable elevation shows evidence of earlier openings which are now blocked. William Cadell (1668-1728), was a renowned merchant and freeman of the town. His grandson, also William, was one of the founders of the Carron Company Ironworks in Falkirk which was the largest of its type in Europe during the 18th and early 19th century. The house was restored as flats in 1954. Cadell House was linked to the infamous Adam Smith FRSA (16 June 1723 – 17 July 1790) Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment. Smith wrote two classic works, The Theory of Moral Sentiments (1759) and An Inquiry into the Nature and Causes of the Wealth of Nations (1776). The latter, often abbreviated as The Wealth of Nations, is considered his magnum opus and the first modern work of economics. The historic and architectural value of Edinburgh's Canongate area as a whole cannot be overstated. Embodying a spirit of permanence while constantly evolving, its buildings reflect nearly 1000 years of political, religious and civic development in Scotland. The Canons of Holyrood Abbey were given leave by King David I to found the burgh of Canongate in 1140. Either side of the street (a volcanic ridge) was divided into long, narrow strips of land or 'tofts'. By the end of the 15th century all the tofts were occupied, some subdivided into 'forelands' and 'backlands' under different ownership. Fuedal superiority over Canongate ceased after 1560. The following century was a period of wide-scale rebuilding and it was during this time that most of the areas' mansions and fine townhouses were constructed, usually towards the back of the tofts, away from the squalor of the main street. The 17th century also saw the amalgamation of the narrow plots and their redevelopment as courtyards surrounded by tenements. The burgh was formally incorporated into the City in 1856. Throughout the 19th Century the Canongate's prosperity declined as large sections of the nobility and middle classes moved out of the area in favour of the grandeur and improved facilities of Edinburgh's New Town. The Improvement Act of 1867 made efforts to address this, responding early on with large-scale slum clearance and redevelopment of entire street frontages. A further Improvement Act (1893) was in part a reaction to this 'maximum intervention', responding with a programme of relatively small-scale changes within the existing street pattern. This latter approach was more consistent with Patrick Geddes' concept of 'conservative surgery'. A renowned intellectual, Geddes, who lived in the Old Town, was a pioneer of the modern conservation movement in Scotland which gathered momentum throughout the 20th century. Extensive rebuilding and infilling of sections of the Canongate's many tenements took place, most notably by city architects, E J McRae and Robert Hurd (mid 20th century) with some early frontages retained and others rebuilt in replica.