The enquirer. [volume] (Richmond, Va.) 1804-1815, 1805-06-11

discovering, that The fphere of political
regulation ought to be con!iderabiy abridged
that many of thofe powers which had been al:
tuned by the government, flon'd be LEFT to the
exerciit or private Judgment; & that in matters
of trade as we'll as of opinion, " liberty Is the
bet policy" But no fooner have we arrived nj
this concuiion, than new principle aries be-
fore Us. "Every man liz is true) is generally
4 better Judge of his own intereits than the GO
vernment can be - but This does rot imply
| that every man is always the Def Judge. Con-
iiderable fcope is Rilto be given to the opinion
of other individuals. The private Judgment of
| one man aill requires the private Judgment of
another to direct and afiif him in the enjoy
! nent of this liberty. Every man is a much bet
ter Judge cfthe fiuttuating price Of the markets,
aud the quantity of the article which it is his
interef to buy or fell, to manufacture or to tranE
port, thanthe magistrates themfelves be: but
| every man is not equally good judge of thefe
commercial tranfactons. II is fill in the pow.
er of one man to ltrike out new markets and ar
ticles of traffic to calculate the expcnce and
profit of different adventures and to aiiift the
Judgment OF Others by his feparate inveaigati-
on.
JNvo important truths arife out of theic re-
marks: Il /: that difcu(lion is equally neceGa-
ry in pecuniary as well as literary fpeculations,
to every man who wiihes TO unCerltand the trne
interefts of fociety at any particular time. end !:
that the opinion is not correct which fays that
the ntereft of each individual will always lead
HIM to purfne that branch of trade or manufac-
tures, which the ntereft Of the fociety will at a.
ny time require. For if the frlt petition be
correct, it is obvious that agricultural focieties,
manufacturing focieties, commercial focieties,
and elaborate calculations ofcoft and profit,
are Indiipenfbly necenary for giving the mott
uietu direction to the induftry of nation.
In thoiegreat queitions, for innance ,iwhether
it is the intereft of this country to eftablih ma
nufactures, x which of their branches & in what
places great extent of detail & information
would be required for producing true deciiion
in every particular cafe. Every man fees that
the propriety of this policy muft depend upon
theie two quenions. Can we make thofe arti-
Giles cheaper than we can import them from o.
ther countries! And eze2 if we could, will
tbs profit be equal to the profit which we
ihouid receive from cultivating our lands, and
Tending their produce to other countries? Or
we may throw thefe two into one oueRion ::
Does our produce in foreign market have a
greater or ieis advantage any other produce,
than what onr own manufactures in our own
market would have over the foreign manufac-
lures No man it is evident, can reply to thefe
quettions, who does not ponefs an extenliye
knowledge offatls and principles. And vet thefe
queitlons are eminenty entitled 70 the mott ma
ture confederation of cur readers.
We will accompany thefe general views with
the itatement of particular cafe, extracted from
northern paper. The writer attempts to
prove that the manufacturing of wooden Cloths
would be productive of conGderable advanta-
ees in that part of the country. Any of our
readers would demand our gratitude who will
adapt thete and any other details on this fnbett,
to the price oflabour and raw materials in Vir
glria. The following plan ola calculation may
be found more ufeful than the one which we
have given in the extract.
Take certain capital, for intance 1ooor.
Calculate the profit of this capital, when en-
ployed in the cultivation of land, in the Atlantic
middle and tranfmontane dnri6ts of Virginia.
Calculate the profit of the fame capital, when
veted in particular manufacture. Spread out
all thete details both relating to the colt of the
land and labour; & the quantity of produce, 8;
expence oftranfportation to market: as alto the
details relating to the con of raw materials and
Iaoour, and to the price of rival manufactures.
Such a plan would furnifh us with mott ufeful
Praxs for iimilar Investigations.