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

proved by DR.. Smith himself in another part OF his
capital may employ 1t in way which may be
the most advantageous to himselt-in the foreign
trade, and yet not in the way advantageous TO the
society, which would be in the home trade But this
case Is met by DR. Smith with the old speculation upon
the natural dispositions the human heart He is
that these will lead every person with equal nearly
equal profits TO prefer the home trade 70 the foreign
and therefore he arms in verypositive way that"ev
indvid naturally incnes employ his capital IN
the manner in which it is likely to afford the greatest
support to domestic industry, and to give revenue and
employ to the greatest number oil people oil his own
country argument natural inclination is to
be relied believe Il is directly the other way In
majority casesthat the leaning is to the foreign trade
in preference the domestic. There is something pect
lisry attractive in the very hazards OF external com
merce The idea OF exchanges prosecuted with ioesn
and distant people, thousands OF miles OF Sc
psratng has something in to affect the imagna
ton And then though the hazards are great the pro
mise OF profit is great il the enterprise he successful
Heavy fortunes often realized from few lucky voya
ges But speculation aside the test of the matter is in
experience and that appealed to will certainly show that
countries trading capitals accustomed to push it's
operations and advantages in the channels OF foreign
commerce. without any special care or regard for the
particular interests Of home industry and labor This
the natural course and tendency OF things, and is accord
ing the actual fact At the least is the mere wanton,
Of "onjecure to suppose that all the trading capital
Of the country employ by preference as far as posi-
bic in giving the highest encouragement to domestic in
dustry and that of it goes abroad in foreign com
but by kind of compulsion and because is SUI
perabundant for the possible Of the home trade.
by DR. and generally blowing him by
the body OF speculative writers on political economy
that in any country or political society Wnaevei
interrupted by the meddling hand OF domestic auho
rity all the capital Of the society which can, or would
under any circumstances be applied to- production, VIII
Of necessity be always luily employed in maintaining its
productive industry and all the labor productive in,
dustry the society which much capital capable OF
maintaining will cfnecessty, be Away fally employed
by and that such capital and labor will always be ne
cessarily employed and applied the and ways
adv ambiguous the of capital those who
bestow the labor, and to the whole society IL must be
added thst these authors also maintain that though the
mr. me-
society may in particular instances, be injuronsly ds
turbed by foreign legsa,ionby foreign commercial re-
guationsy ct long UGH foreign regulations con-
tnue all attempts remedy the evil by counter regula-
tions home can only result in additional injury Now
in direct opposition to the broad assumptionior no
thing but assumpon-that ell the capital and labor OF
every society, uninterrupted is suggested will of ne
cessty, he fully and most prohtably employed always
and at all imesand that hence if by any commercial
regulation other interference Of the public authori
os any capital labor should be required or induced
to undertake production, profitable business
or other must first be abandoned for the purposen op
position to all this maintain that so far in the history Of
the world capital and labor have seldom been as iuy or
as proftabIy employed any where they might have
been, that they are not SO employed in any quarter
where examples would naturally be quoted, ana that
there is not the least probability that they ever will
be until the laws OF progress in production and
under stood or at least carefully and strictly ob
served and acted The fundamental law the law Of
mutualiy and OF proportion to be established ana main
tanned in each society between the producing classes
between the several greet departments into which the
industry of the society is arranged for maintaining diver
necessity, I shall ask leave say something before
conclude At present tbs the matter OF fact in regard to
the alleged tnll and ofabe employ ment OF capital ana
labor (Which wish speak little further This, it
must be remembered is declared TO be the natural and
lett tree and undisturbed And il disturbed by legal
actment by restriction regulation still capital and IN
p wr pd VIII be- p drec
ton in Which they might not otherwise have gone"
Loss indeed be sustained by the necessity of change
end transition and the community may be burthened
with new tax TO sustain the change but still capital and
labor will be Idle than before This is the pc
sition. Now iteny strongly and utterly the whole pre-
misses, and make my appeal facts and to all expert
ence must not go into detail but may refer to lew
leading particulars Look, them at the leading nations
OF Europe. advanced they are in the arts OF in
dustry add in wealth Is true that 10 England France,
that industry Is July employed in production If 10000
have been employ edor two three past the
and the has been drawn from the body Of the French
people. Does any body pretend imagine that this
am unit Of labor has been drawn off, diverted from
occupation business where before fully and
ftaby empoyed2 These nations maintain large stand
ing armies. France say 100000, England 10000 and
Does any suppose that these armies are alto
gether recruited from the employ ed and producing class
e and not chiefly from the idle and vagrast population
these armies should be disbandd tomorrow would they
meet Already demand for their labor prompt employ
aad good pay Is it not notorious that, in all these coun
tries, there is perpetual struggle and hard task to
keep their population employed1 And is not a new
employment demand for lsbor-always hailed
with general Joy And not the least obstruction in
istng operations the slightest diminished demand for
labor, felt general calamity When the cultivation
of the sugar ntroduc ed in France,
sary to disturb derange other avocatn order to
find the necessary labor Did thing OF the sort take
place when the silk manufacture was established in Eu
gland Germany has entered into league for the
establishment and defence OF home manufactures. Does
the Zo vevien leave agriculture any other business
without adequate support by the thousands upon thou
sands who drawn into the field Of labor Is not
the pauper system of England, in great the
employ ment Are these countriessome of them
in every way the yearly emigration
and repatriation Of thousands from their shores
because these thousands, and millions more besides
want work. which they cannot give them Nor is labor
superabundant in these countries because there is
of capital to employ and maintain it, Eng land leans
annual millions to other countries-so does Holland
In all, the rate of interest is low; and millions on
millions are employed in gambling specuations and
squandered vices and depraved indulgencies, OF
wastefully consumed at home abroad, which would
be employed in production and the support oil labor,
capital in active demand for the Industrial Of
the country. But it is not. Like labor, 1t is super
mrshed demand these countries at this day, from the
vast multiplication of ply steal power by the modern i'm
provemens in machinery and the use oil stesmi and py
national expenditure between time OF peace and time
war. The machinery employed in manufactures in
Great Britain alone performs the labor OF sOOOOOO OF
men. And England spent not much short of 1000 COO
600 Of dollars in the last general which ended with
superabundabt in these countries The capital is
not employed In moving all the labor thai At is
much of what might be the productive indus
Try OF these countries, is idle and unemployed
enter not The causes oil TINS OIL
that would be wide field ! speak of the TACT
may be permitted, however to say, in passing, that,
donbtediy, OF all the evils that slic country the
want full and profitable employ for its population
for its labor among the very greatest England Suffers
nightly in this ways and certainly 1t Is not In her case,
Tor OF the policy Of commercial restrctionsa 20
Icy which she has steadily pursued for centuries under
all changes and In the lead Of ell parties; and less
steadily than when she has had smith for her oracle in
political economy and his nominal disciple, Husksson,
tor her minister That she has built up both her
features and her agriculture upon this system, motor
all But she has committed She has
swarmng population, the growth Of sges and this pc
pulstion is confined to very territorial nits
Her commercial and restrictive policy has had Tor It's
object to build up the prosperity OF this island home OF
hers by lay the whole external world including her
own colonies founded conquered by herself under
contribution Ali should be tributary to her. Her desire
especially has manufacture for all the world, and