The native American. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1840, 1839-02-09
NORA LIMITS THE PURSUIT OF WEALTH

rest of the world is comparatiS ely poor, does
not imply an unequal, anunfar distribution OF the
rewards Of industry. | may he wrong on tins
point, and if were considered as speaking with
any authority from the pulpit, should not make
the suggestion. Yet speaking as do, with no
assumption, bu, with the modesty doubt, shall
venture 10 submit this point to Your consideration.
It would seem 10 be an evident principle Of hu-
manity and Justice, that property and the means
of comfort should bear some proportion to mems
industry. Now we know that they do not.
am not denying that, in general, the Woodworking
man labors less with the mind; and that ne is Of
ten kept poor, either by improvidence and waste
fnlncss, or because he has less energy and saga
civ than others bring into the business OF Lille.
do not advocate any absurd system Of agrarian
leyelling. believe that wealth was designed to
accumulate in certain hands, to certain extent;
because, I perceive that this naturally results
from the superior talents and efforts of certain in
dividuals. But cannot help thinking, that the
disproportion is greater than it ought to be.
know thatit is said in regard to accumulation
in general, that capital has its claims but can
not help thinking that they are overraed, in com
parison with the claims of human nerves and 81
news. Suppose that of thousand men engaged
in great manufacturing establishment, ten pos
sess the capital and the establishment, and
il be right, that the ten should grow TO immense
wealth, and that the nine hundred and ninety
should be for ever poor? admit, that something
is to be allowed for the risk taken by the capital
list. have heard it pleaded, indeed, that he is
extremely liable to fail, and often does so-while
the poor, hea. en- help them! never fail. But il
seems to me, that this consideration is not quite
fairly pleaded. 1t is said, that there is risk.
But does not the capitalist, to certain extent,
make the risk? Is not his risk, often in proper
ton to the urgency with which he pushes the bn-
siness of accumulation, and to that neglect and
infdelity Of his agents and workmen, which must
spring from their having SO slight common in
terest with him in his undertakings! The risks
will be smaller when the pursuit of property is
more restrained and reasonable; and when the re-
wards Of industry are more equal and Just. but
hear it said again, that 1.-THE poor are wastefuI;
and that to increase their wages, is only to increase
their vices.'' Let me tell you, that poverty is
the parent of improvidence and desperation.
Those who hav been brought up in that school
may very probably, for while, abuse their in
creased means But in the long run, it cannot be
so. Nay, by the very terms of your proposition,
the abuse will cease with the desperation Of pow.
erty. Give the poor some hope; give them some
means; give them something to lean upon; give
them some inter st in the order and welfare of So
ciety; and they will become less wasteful, less
reckless and vicious.
Indeed. is it not obvious, can any one with his
ewes open deny. that the extremes OF condition IN
the world, the extremes of wealth and poverty,
furnish us with the extremes OF vice and dlsslpa-
ton? And does not this fact settle and prove,
beyond all question, that 1t is desirable that accn-
mutation should be restrained within some bounds,
IN the one hand, and on the other, that Indulgence
ic Tho eta IF hn
eratves in the manufacturing districts of England?
OnIv worse, than that of the idlers in that king
dom. who are living and rioting upm overgrown
fortunes. Let the conditions of men approach
the same inequality in this or any other country,
and we shall witness the same results. The ten
d. ncy of things among us, rejoice to believe is
not to that result, but it is, no doubt the constant
tendency Of private ambition
But proceed to another point. In order to the
rapid accumulation Of property, IN all ordinary
cases. great expansion of credit is necessary.
man can not grow suddenly rich by the labor of
his hands, and he must therefore use the property
or the promises Of others, in order to compass
this end. Now, there is a question which have
never seen stated in the books OF moral philoso-
phy, which have not heard discussed IN the pull
pit, and yet it is point which deserves Piace
in the code Of commercial morality; and that IS,
how far 1t IS right lor man 10 use creuit
is, 10 extend his business, beyond his actual CAPT.
tai? am sensible that it is extremely difficult,
if it is not indeed impossible, to lay down any ex-
act rule on this subject; and yet it seems to me
none less worthy of consideration. Certainly, it
must be admitted, that there is point some
where, beyond which it is not prudent, and, there
fore, not right, to 60. Certainly. It can not be
right, as appears to me, for man to use all the
credit he can get. II could not be right, Tor IN
stance, that upon capital Of ten thousand, man
should do business Of ten millions. NO man
ought to trust his powers to such an lndehnahle
extent. No mans creditors, were ne to fall'
. could be satisfied with his having accepted trusts
from others in the shape ofcredits, which common
prudence shall pronounce to be rash and hazard
Gus. There is common prudence, II there IS no
exact rule about this matter; and the borrower IS
most especially bound to observe 1t; anocer'a,l,,
", every honest man, being borrower ~o s;,
observe it, if he did but sufficiently 'h'hk VI u
The wan. Of this thought is the very reaso" why
bring forward the subject. :,
With regard 10 the rule, have 1t as the oellOe
rate opinion Of one Of the greatest bankers u
Europe, that a man should not extend ms nosi
ness to more than three times his capital, and