The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-10-23


spread 30 pulaon scattered over territory Of almost
extent and with untold ceres oil virgin soil OF
great fertility appropriated almost without cost We
comparatively people, not having yet had time to
make great sccumuatons OF capital and wealth by the
ordinary courses OF industry But we nave msae some so
example, in lands, cheaply obtained, with all
their natural advantages Of fertile soil, OF INTERIM
nable wood and timber, OF inexhanstibe mines, and
of countless powerful streams Of running and failDg
water. Our soils and waterfalls are agents o. pro-
duction OF the most valuable and effective Kind and our
forests and mines afford natural raw products Of meal
cuahle amount requiring only market ana the iapor
of severlng from the EARTH like standing corn or pota
toes in the ground to give them value All this cspi-
tai stands to in the place Of capital But alter all,
we are far from being rich as our neghbors on the OPP
poste shore oil the Atlantic, while numbers are yet
small in comparison with theirs. Both capital and labor
are in much better demand with us than with them
ALL capital and labor In this favored and happy
country, as fully and as proh,sbly envy loyed IN pro-
they be rhs IN
country than it has known before IN quarter OF u
century. The Diversity of employment Is greater,
or is maintained in better proportion There has
been great revival OF manufacturing and mechanical
industry within the last year speak OF the fact not OF
the cause And yet with all this what do we see7
Why money at lower rate OF interest, perhaps than
was ever before known in the United States The money
price of labor too comparatively low though prov
and subsistence cheap also Capitalists find 1t
difficult to invest and unprecedented millions are on idle
deposit in our banks II new factory is opened any
where and old revived, and such cases hap
penng almost every day. there no want OF money
or of to carry on And we hear OF no complaint
verted, drawn of, from other employ Nothing oil
the We not yeta very rich people, or very nu
merous but we have more means and more hands than
be protably employed in two only OF the great de-
partments of industry, namely in agriculture and COM
merce and the third that of manufactures and the arts
though lately revived and looking not as full by
great deal as il might be- So long we have our mil
lions of fertile land still vacant and inviting oc
cupatiou ard where subsistence for the surplus and in
crease OF population may be cheaply obtained,
where little labor can produce great teal OF food, we
shall be likely to experience as people little compare
tive Ia nj
closely packed countries from the inability to give EN-
poy TO labor But land employ ed in this way gives
profit And an agricultural population,
consuming just what produces, making no surplus for
exchange because has no market enjoy ing none OF the
products Of other countries or regions or OF the useiul
where except in the rudest state, and OF house
hold manipulation such an agricultural population
barbarian and nomadic lite What We are looking after
progressprogess in production, in capital and wealth.
and in refinement comfort and civilization For this,
is necessary tnat capital and labor should be July en-
ployed, and in the most profitable manner and what
mean to say is that even in this country limited as It Is
both in and hands, there s still abundance OF cap
tai and labor business promising profitable re-
turns without drawing off or di nishing In the least
deg e. the amount either which il probably applied
to existing employ mens This in the lace Of the ssump
ton OF the cuative writers on Political Economy put
hold the fact, as have stated it, to be ncontIovebe
deny therefore, altogether, that in any quarter where
should naturally look for examples-in sny OF the
leading countries Of Europe IN our owndo facts war
the idea that is the n,turs and necessary tendency
labor to keep themselves iully employ IN
production always the best advantage; and SO that
new employ mt mt Gun De uDueitaken Ut my ume,
unless naen go moved by kind of animal instinct,
without disturbance and injury to existing business The
disposition and desire to make the most OF capital and
industry natural enough, and may be admitted; but
the end is not certainly attained In every country
there serious impedimens in the way Individuals
h the best intentions do not always choose the right
path personal when they do, their interest
often very being identical with tina OF the So
ciety. Then industry svery slow If left to itself, in
adopting divisions OF labor and arranging itself in de-
partmens with any thing like due proportion between
the several orders Of productive industry without which
. nf hp IN such
sion Of labor and such proportion in empl ymens are
impossible to be established end maintained in any coun
try having foreign commercial relations, which itself
leaves all things TO their natural course, while 1t is sub
jet to the iull operation and effect Of the commercial
regulations OF other countries But come now to soy
something directyit cannot be much, after the
time already occuped-on the particular topic to
which have often had occasion already TO allude
refer hat have called the law of mutually and OF
proportion between the several departments OF industry
society indispensable to the proper development OF
its productive energies and in order to attain the highest
success in production When understand what this
law is. shall at the necessity for it, and We
shall how impossible 1t that capital and industry in
any country should be fully employ ed, or employ ed IN
the most advantageous manner without it. shall treat
this point with reference exclusively to its practical
bearing on our own country have stated air eady
Dr. Smiths the wealth OF nations the elementary
principles which production and the increase OF cap
tai and wealth depend; and from these the law OF muu
atty and proportion to which have referred, is derived
The grand requisite for increasing the productive powers
OF acommunty is, what is usually called division OF
labor DR. smiths demonstration of this point is enough
mmortaze his book But there can be division OF
labor.
changing product for another in other words there
be demand market, for the products OF divided
labor and such division ef labor will be exactly limited
by the demand market All this, too, is clearly de-
monsrsted by Smith 1t is the effect OF this demand or
market in supporting and limiting all division OF labor,
diversity Of employ msn and OF consequence in sup
porting and limiting production, from which the neces
sary law OF mutualty and proportion in the grand div
sions the great departments of industry deduced All
surplus production is vsueiess without demand or
market II and b. two individuals occupy ing together
hprod or
either of them produces more than he can consume the
surplus Of no value because there no demand for IT.
it cannot be exchanged. But II can produce ood
enough for himself and too, and u, relieved from pro-
ducng food make Gle thing enough Tor himself and
also, then exchange be made, and new comfort
provided both The surplus food OF A. and the surplus
clothing of have exchangeable value; and If and
prouce each still further surplus 90 as to supply
food and clothing to c., another individual, in
exchange for his (Cs labor in constructing dwellings
for them as well as for himself then this further
comfort OF shelter may he obtained and the little band
itself be enlarged And 1t is easy TO how tins band or
company mey continue to grow end expand on the same
terms swelling in numbers, in comforts. and IN capital
and wealth. until it should become great and powerful
nation But what want should be observed particular
y is ths-how easily the Whole economical sruc,ureof
this community may be disturbed and dersnged es
ecualy to arrest all growth and expansion Ia The case
have supposed, there certain mutually and proper
ton between the parties A. raises his own ood but gets
bis clothing and his dwelling from and c. by exchange
B. makes clothing bu, gets his food and dwelling
rom A. spd c. c. constructs his own dwelling but gets
his food and clothing IRON A. But suppose B. and
ADDITION TO their other labor insist upon raising their
own food instead OF taxing that produced D} A. ev
dent that the previous arrangement must be wholly
broken up, and general confusion must ensue A. loses
the demand all the surplus food he produces, which
becomes valueessB loses A. as customer for SO much
Of his surplus clothing and c. loses them customers
tor SO much of the products OF his labor And II this
continues, each must be thrown back upon consuming
what his hands and skill can produce, and nothing
more Life may supported in this wsy, after fashion,
hut there can be improve advance. Exchange
mutually and proportion must be again established az
the only means OF making aforwsrd movement And as
is with d. and C.. individuals, soft is with A. B.
and c. as representing the great departments OF industry
in a ciety nation Three principal classes may be
garded and usually comprising all thea5or of
alton, which is set in motion by all its capital Those
ed ia producing the rude produce, food
and mstcrsls rquired Tor the and consumption of
the society employed IN manufacturing and pre-
pairing such rude produce for and consumption. and
those employed in carrying and making the necessary
exchanges both OF the rude and prepared produce For
sho thew ma be named. thew commonly