Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1828-12-10
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The authority of this writer is great and many so
lid OF political economy are To be found in hi
J work But he is not inialblc Whatever may he ia.
confidence are disposed TO place in the saqaci,,
ind strength of his judgment, shall, nevertheless,
reserve the mental independence to dissent from hi
dogmaS where they Conflict with each other. IA tho,
sometimes do, and where too us is not untrcoucnti,
the case. they at open with the whole currcn
ut facts ana the whole tenor of experience. The his
tory oi his own country Is strong and practical re-
iutntion oil many oi his most npplauded doctrines
Sometime too las opinions are liable To msreprcscn
tation from the generality of his assumptions. as j;
utterly impossible for any writer political economy
10 present III abStrac, treatise, rules and maxim
tit for the government Of all nations, under all crcum
stances. IL would be labor much more within tin
Compass Of the limited powers of the human ntellcc
10 frame code al laws congcnal to all nations say.
age and civilized, mouarchIcal and republican. thar
Tor any one man TO system OF political economy
equally adapted TO the ncacuablc variety in the cir
cnstanccs conditions and relations OF IL; the nation.
OF the earth. code of laws for the government OF
men IN social state. acts upon the moral qualities an.
relations Of men, which supposed 10 be- similar ,n
der every form ,oigoycnment, ana in every variety
local situation/ In confederation OF this fact lei IL
consider how man. nations of the earth have aIopC
the civil law Of the Romans. We shal! tu, thai ;y,l
some notifications, il Is the law Of civilized Elropo nj
thus day. Even IN England, which boasts OF is com
mon law as th" perfection of human rcas on many
tho maNins and rules Of the civil law VIII he found r
corporated in rs code md several branch,e uf lis IN
rsprudCncc rather several courts In its ircia sys
tom, entirely governed BY j. ia, rrayipr lsre
that is, provided II does not cunravric the CONNER
law, and the statutes OF the realm. lG;ut when ~,
whore did W. ever hear of code, oNpoli;iral ,r,no
my which was adapted 10 such general ay,pic ,tion
or which was deemed worthy OF such Q li.ral d..
terence! Whence shpudit b" derived, From the CON-
inerctl code OF aiy nation nciant modern or from
the treutises Of theoretical writer's and speculative no.
lltlcians; Depend it this has never been done: no,
IL such code likely TO br devised in future hv the m
lnct or separate iabors o! the practical theoretical
POLITICAL economy Is science of facts and crclii-
stances. 10 order 10 deduce its maXns apprn b.. fl,
any nation you must have before YOU all the inpor
tant facts and circumstances, relating that nstio
It's foreign auj domestic Concerns; it, p!.-icul ana
moral properties and pTopenstus; the state IF is 10.
pnutlon, trade resources, &C. &c; anv o: y hi Il
omitted, or not duly weighed in the scale Of policy
VIII destroy all the conclusions Of the most profou.
nbStrac; logic. 20 be- derived from 4. Smith and the
whole college of economists, from the dnur Of the
science 20 this present day.
Adam Smith, III chapter 2d, book !h and this chan
ter Is the ground work Of all The opposition 70 The j.
lnerican iari'f( says If foreign country cun sap
ply as with commodity cheaper thar wC. oarscyc.
can make IT. beHc' Jy il Of lien, ,ciil 3oa,c i30gi NJ
TIE produce Of orr oon 1"sty employed III " " in
which we have SOM advantage" II ~ 6, don't tbs
writer herr supposcs that the trade he recommends i.
RECIPROCAL He says, had better bay such mann
features as be fabricated abroad choapcr than M
home, with some part of the produce OF our own IN
dustry, employed Ill way III which hive some adj
vantage Gan any one foil to observe that in all tn,
chapter the writer suppOses case III which tie na-
ton restricting the admission of foreign manufactures
mas IN her power 10 purchase those manufactures
upon better terms than she MAKE them herself
and that too, in the cXchDe of the products of her
industry, employed in manner more udvunta qeous
because more productive thIR WhCn applied 10 the
making OF such m9nViactUrcst t1is may be all very
true, without affecting the ca.in which n nation r.
srcts the admission of foreign manufacturers not be-
cnuse she can make item cheaper or better but
because the nation from whence they are derived re-
fuses TO take III return upon terms OF r end equal re-
ciprocity, the products Of her own industry The
lt ttp -.Irf.
say the necessities OF the nation require these manu-
lectures end they mist b. made at home or procured
elsewhere. But the country from whence fi,cy have
hccn obtained persists III rcIiisHg TO accent In cy-
change for them the products of the coil and cious
according to tic an'I-tarisls nevertheless continue
~ he tributary to the selfish policy Of foreign power
~ the total nnpoyeShmcut Of the country g. the NJ
fer destruction OF all the branches of Is iIsiry ar
:icuurol and commercial. as well rs mann rlctrr,
70 the annihntDn almost of the valUc of It's proner
", even the very soil ITSELF and ai this to be borne
Tor the sake OF few nbs'ract maXips 10 be found in
A. Smith, some OF which when fairly and canIiIlv in
tcrprctcd, according TO the manifest intention of tho
writer, require none oi these great sacrifices which
you'd loyalty make at the shrine of his exalted
Hoine IL Is bad thing 10 b.! welded TO any faith
political or religious. TO he ready to drive r1adly
against every obstacle that happens 10 be in is vav
with s"'t 81 ga'ontry end devotion which better 30
como the hcrocs Of romance than the soldiers Of INC
ross OF o. The constitution. But how deplorablc is
that condition which npes upto long and disastrous
crusade M which our zeal and fidelity have detriment
ior their only oaco, aAd suffering for their only re-
ward who mel hcr the principles Of our faith nor the
demands 81 our interests, require anv such painful and
protractcd lahore At our hands
Many Of tho drto Of this writer orc founded ypon
the sagacv OF Individuals IN fpdirr out Tie t,1osf ro
toblc employment for the capital ihcy bnr. 81 c6S,.
Inand, and upon 'hc cuprri-o Of governmental reg-
!ations, whore They undertake to encourage the ON,
p.oyneni o "9prl Sos pnr'iculur woy. 1T 10 gars
a. CinUo' "tE" Wo%!n OF every prudent muster of q
ian'y DeV'T 10 ''N''P' to- make OF homo, what il viii
cost hun more 60 make than to bug. The tnior docs
rot tttoTupt 10 make MS shoes bat buys tlo, n
tie shoe maker. The shoe maker does not sttcmn
i1make MS oFn ri0'Ie, hnt employs tailor The
farmer attempts - mo'sc neither the one -,
bit employs tIosc different 8riiccrs. All of thcu
ind ibcir In."r"st ~ employ their whole industry il
wly "a which they hByc some pdyau' onc over tbcI
HlgibDurs, and ~ pufcia-e with part OF It's produce
eat j. tie sairo thing. Git the price ola ua,t n
d., vhatcFor r.sc thy have occosi,u for. Whit.