Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1828-12-12
FoR TIE RIcuMoSn Wuc

1he authority OF tins writer is great, and many So
ho maxlIfs or political economy are to he found in his
work. But he is not infiliibie. Whatever NAV be the
confidence VIC are disposed 10 place in the saroci.v
ond strength of his judgment, we shall, nevertheless.
reserve the mental independence tn dissent from his
doginas where they conflict with each other. as they
sometimes do, and where too. as il not ,rtreatlert,v
the case, they are at open war witt. The whole current
ct facts and the whole tenor of' cv pcriencc. The his
tory OF his own country "a Il strong and practical re
iutat'on OF many o! his most a%f;iuudcd doctrines.-
Sometimes too, his opinions are liable to misrsDrosnu-
tatIon, from tie genes aiitY uf his assumptions, as il *
utterly impossible fer any writer on political economy
TO present in an abstract treatise, rules and moxjins
ut tor the government of all nations, under oil circnn-
stances. 1t would he Z iahor much more v.isli, ~.
compass Of tho lunite! yn:rcrs OF tMa hma4n ia: e!lact
20 frame = COKE u laws CangcniGi o. .. ui.:oI4. !t.-
age and civilized, n;onarchic"i AMI republican,, than
Tor any one man to rear u system OF political economy,
equally adapted to the incalculnblc variety in the cir
clnstarces, conditions and relations of all the nations
OF the earth. \ code OF laws for the government Of
men IN a social state. acts ntcn the moral qualities and
relations OF nicn, Which arc supposed TO be similar ,n-
der every form Of government, and III every variety of
local situation. III confederation Of this fact. lei us
consider how many nations of the earth have adopted
the civil law OF the BuLHls. We shall find that with
some notifications, it is the !aw Of civilized Europe az
this day. Even in EariAGd. which boasts fit. com
mon law as the perfection Of human reason. many Of
the maxlnls and rules OF the civil law will be found in
corporated IN its code; and several branches or IT'S u
TIsprudence, or rather several courts in It's judicial So
TEN, are entirely governed by it, sub graviori !eye."
that Is, provided it does not ccntravene the common
law, and the statutes of the rcaln,. But when. o-
where did we ever hear OF u code OF political econ0-
my which WAS adapted 20 such u general application.
or which was ever deemed worthy OF such general de-
terence? Whence should it be derived? From the com
llercGl code O. any nation. ancient or modern. or from
the ~trentises of theoretical writers and specuiatiye NO.
Itlcians? Depend on it this has never been done; nor
Is such q code likely 30 be devised in future. bv the al
ltinct or separate labor o! the practical or theoretical.
Political ecolionly is Il science OF facts and circuIn-
stances. In order to deducc its mazmls applicable TO
any nation, you must have before you all the imnor-
tant facts and circumstances, relating to that nation.
It's foreign and do!nes' ic concerns; il. physical and
moral properties and propens!ties; the state of it's ro-
pulatlon, trade, resources, &c. &c; any of which, if
omitted, or not duly weighed in the scale of policy,
viii destroy al! the conclusions OF tie most profound
abstract logic, to be derived troin a. Smith, and the
whole college OF economists, from Tie dawn Of the
science TO this present day.
Adam Smith, in chaptcr I'd, book It'll land tI.is chnD-
ter is the ground work of all tile opposition to the g.
merican Tarif,) says, IF a foreign country can sup
ply us with Il commodity cheaper than we ourselves
can make it, better 6ay Il f Mem 10Th Son,e pat of
the produce 9f orr orc'l industry, employed in a way in
which we have some Advantage" 1t is evident The
writer here supposes that the trade he recommends is
reciprocal. He says, we had better buy such manu-
FIXTURES as can be fabricated abroad cheaper than at
homo, with some part of the produce of our own in
dustry, employed IN a way in which we have some ad-
vantage" Can any one tail 10 observe, that lin all this
chapter the writer supposes a case in which the ma
ton restricting the admission OF foreign manufacturers.
jidS 1t III Iief power 20 purchase LiOSe manufactures
upon better terms than she can make them herself
and that too, in the exchange Of the products OF her
industry, employed III Il manner more advantageous.
because more productive then when applied 10 the
making OF such manufactures? This may he all very
trne, without affecting the case in which a>nution re-
stricts the admission OF foreign manufactures, not be-
cause she can make them cheaper or better, hut
because the nation from whence they are derived, re-
fuses to take III return upon terIaS of fair and equal re-
ciprocity, the products of her own iudusfrv. The
forms and habits of society, the comforts, and ] may
say, the necessities of the nation require these manu-
features, and they mist be made at home or procured
elsewhere. But tue country from whence they have
been obtained. persists in refusing to accent in cx-
cilange for them the products Of the sol, and We mus,
according to the 0nti-taritfiats, nevertheless cuntin!e
10 bs tributary to hcsclfsh policy of a fGrrirl mower.
10 the total iIupov3risLlnent OF the country, to The nj
fer destruction Of all The branches of lis industry, an-
TiCultural and commercial, rs well as !unnufacturinT
10 the humiliation almost of the value Of its proper
t., even the very soil itself; and all this To be borne
for the sake of o few abstract naxiiGs 10 be found in
a. Smith, some Of which, when fairly and cafl@idlv IN
tcrprGtcd, according 10 the manifest intention of the
writer, require none of these great sacrifices which
VIC Wotla 50 Loyalty make ~ tho shrine OF his exalted
name. 1t is a bad thing tn Be SO welded to any faith.
political or religions, IA TO DO ready to drive madlv
against every obstacle that happens to he in It's way.
with n sort of g~alantry and devotion which better be-
come the heroes of romance than the soldiers OF the
cross or of the constitution. BIT how tcpIorablp is
that condition which ir7pels rs to Il long arI disastrous
crusade. II which our zeal and fidelity haze dctriucut
IhcL oHly so!ace' ana suffering Tor th"ir only re-
Vard, when neither the principles of orr faitl, nor the
demands of our interests, require any such painful and
protractcd labors nj orr hands.
Many OF tte dioaa Of tbis writer arc founded upon
the sagacity of IN ividuals in finding out tic most pro-
fitabie employment for the capital thoy have at com
mand' and upon the euspiricisr Of g~ovornmcntal rcgu-
lations, where ticv undertake to encourage the EN-
ploymcnt Of capital in a particular way. at IS" says
a. Smith, "thc maxim ofcvcry prudent master Of n
family, never tn attCDpt to make at home. wbatit will
cost hun more to make than to buy. The tailor does
not attempt to make bis own shoes, but buys them of
the shoe maker. The shoe maker does not attempt
omaKe his own clothes, but employs u tailor. Tie
farmer attempts to make neither the one nor the other.
but employs those different ~artifcors. All Of them
find il their interest to employ thor whole industry in
u way in which tHGy have soiac advantage over their
or what is the same thing, with the price ola part Of
81. Mlltn-nr nl-n L.-n- h.-. n..,-.-n IL LLLaA =