New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-06-26
THE TRIBUNE.
THURSDAY MORNING.. JUNE %. is.s.


truth profoundly impressed on those who have
auded deepes, and reelected most on the subjeci
That ne popular maxims poin, directly TO the
checked supremacy Of Wealth and Cunning
Poverty and Weakness. has long been evdeo'
Bay where you car cheapest Leave Wages al
Prices TO be regulated BY supply and demand
'Laisse< faiye. llei US alone &c. all these IL
natural dica,es Of Ayarice. Power and Thrift. b.
are earngly a, variance with the precepts OF Divin
Charity and the iiea expressed by the noble wor
CoAxoywrALrH. Tha, there must come aefon
H. our accredited teachings when the subject is
thoroughly understood. we have abiding coahdenc
Even now. The young collegian. crammed wi
Adam smith. Say and Mccuoch, finds himself Off
compelled TO throw bis masters overheard az soo
o. be enters upon tie stage Of active practical A
HI may nomnally cling TO the formulas OF the schoo
mel, for season. bat every day weakens their era.
on his maturer Understandings until Little more ths
z vague notion tina, they ovght 10 prove true and
wonder that what LOOKS 50 fair on paper does II
answer in practice. remains. The whole mass
our literally educated youth are Ddoctrinsied
college in the Free Trade writings simple. palp
bic almost mahema, cil truth. yet at thirty you v
6Dd majority aud a, fifty three fourihs Of them T
over toward If not distinctly upon the opposite pls
form. These arc cheering evidences Of the ela.,io
recupera,Ive energies 0; Truth.
But we have not room 10 pursue the suffice
since our aim Is only to introduce the followin
summary in Blackwood Of certain conclusions q
tanned b. the eminent SIsNoSDi. whose inquiries
Social and Political Science have appeared In thrc
volumes at Paris. Unlike Blackwood sismond b.
longs to the grea, party Of Freedom and Progres'
and regards Economic questions from the Lberi
stand poiot Iii be objected tha, Lis medication
a. those generally Of the anti-Free Trade school
seem rather negaive than positive il should be cons
dercd .ha, we have here bat small part Of his d,
dact;ons. md those directed 10 single point I'll
Free Finders rather O., lei by sisnondi chnmatsf
ss making the aggregate increase ofNa,onsl wealt
the grea, desiders,urnl have complete possession
tie ground they are the esteemed doctors, the a.
credited Professors OF the theory Of Political Econc
my. We who oppose them tSust be first proiesfan
destructive overiurnng. before can have room q
se, forth complete rival SYSTEM. in which we shs
oil be reasonably expected 10 concur But let Il
bear Sslnondi
An augmentation Of production ia generally COZ
sidered a. addition 10 national wealth and II
on this ground that all nations. under the guianc
OF the Chremat,sts. are making such strenuous t.
forts 10 increase their agricultural and manufacture
produce. Such augmentation. however. say
Sismo udi, Is not only BY 40 means ia every
addition To national wealth. but II is often useer
and perncious addition TO national suffering II til
supply OF any article exceeds what can be consume.
Ia The early aud sample ages OF society, dispose
OF to advantage in the later. 1t is not only aivar
tage. bat positive loss What avails it that H.
yards OF cotton cloth Manufactured, or the quarter
OF wheat rai-ed ARE increased IN a country iron
50 600 900 to 100 0OO 900, it, in Consequence Of H.
increased supply. the price Is lowered oncialfi I'll
pro ucers get ihcrtroublc for their piinsihey ga
puthiu9--the cOIsum get more than they require
great part OF the supcrluy is wasted or sen, abrOi
a. a ruinous loss Augmentation of production
therefore il not IN every case sign OF Increase
national wealth, II il the maiAfeA qHce 0fa due pa
p,rtion be'weea p,odac',oa and consumption whic
Is the real desideraum, and forms the only real bs
sis of lasting national opulence.
According To the Chremat,sfs the wealth OF
nation as Of au individual producer. is to Inc
ured by the excess OF the value OF production owe
It's cost This sa,s Ssmondi. is the most fatal OF
errors. ami the grand source oil the misery Of ia
working classes aud instability Of society. In all III
m tnulacturlng states OF Europe. IL Is true, III
wealth OF a N ls,cr m ,nuidcturcr is to be measure
BY III, excess of the price he obtains for his pro tue
over the cost OF it, pfo lucion but a master mani
fucturcr i. not a nation. nation consists not OIL
O, masters but Of workmcn not ouly of con
ann ers but producers. The latter class is by Ia
the most numerous. the most important. the mo-
likely to increase II they reduced To III sery
consea oace OF the reduction OF their wages by tn
Introduction OF IN ,chincry. the employment OF Juvc
nile or female labor, the immigration oil foreign L.
borers any other cause. II Is poor compensation
10 say, that the profits of their employers have beci
greatly Augmented at their expense. II the exec
OF the value of production above its cost. elth,
the measure or even an important element IN nation
d wealth. Ireland. where the wages OF held labo
are 6i aday. aud Poland, where they Sd, should
be the richest ma ions in the world, whereas they
VIGOROUSLY the poorest The real measure OF nation
d wealth is to be found not in the excess OF produc
ton above the consumption employed In II. bat II
The means of comfortable livelihood which their in
dus,ry affords to the rhoie classes Of the commuui
"; aud that is only TO be attained where wealth
very generally distributed.
The mere increase of national wealth is far from
being in every instance addition either to nation
al sircngth, national security or national happiness
On the contrary. is often the greatest possible III
minuton TO the whole three. Ii is not the increas,
Of wealth. but ITS distribution, which is the greai
thing to 10 desired is on that that the welfar
and happiness OF society depend. When wealth
whether in capital or revenue runs into few hands
when landed property accumuates in the persons
OF knot o. territorial magnaes and commerce cen
tres la the warehouse Of a limited number of mer.
chan, princes. and manufactures in the workshop o.
small body Of colossal companies or individual mas
teremployers il Is absolutely certain that the great
bulk OF the people will be u state OF degradation
and distress. The reason ia, that these huge fortune,
have been made by diminishing the cost OF produc
tion--hat Is the wages OF labor-,o such an extent
as to have enormously and unlus,ly increased IN,
profits OF the stock employed in conducting it 60
clety in such circumstances, Is la the unstable equ
libruu: it rests on the colossal wealth territorial
commercial Of few but il hps no hold ON the ai,c
tons or interests OF the great majority of the
pity IL is liable TO be overturned by the frs, shoci
Of adverse fortune Any serious external disaster
any considerable internal suffering may at once over
turn the whole fabric OF society. and expose III,
wealth of the mayns,es only a. tempting plunde
for the cupidiiy and rcckessness OF the destiiu,,
OF society. There is as much true philOso
ply as poetry says Sismondi. in the well-knowI
iaes OF Goldsmith
III fares the land. to Fastening lis prey.
Where wealth sceumustes and men decay
Princes anu lords may flourish or may fade
A breath may make them as breath has made,
But q bold peasantry. their countrys pride.
When once destroyd, never be supplied
The Ciremaftsts always represent an increase O
national wealth a. necessarily flowing from an aug
t,ks AZ ,h.a ip1 bO