New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-01-04
p,e,rep,,rv Political Economy.

While M. Secretary Walker and his followers
in this Country are swallowing and landing the dicta
Of the closet spectators on Economic Science who
modestly style themselves "the Political Econo-
mists" as IL they were divnely revealed or msthe-
msticaly demonstrated truths, it is worthy Of note
that those who have made Themselves more tho
roughly familiar with these specDlations, and whose
apparent interest as people inpels them to side
generally aud mainly with these Economists do
vet find il necessary 10 make frequent and impor-
tsutrecti6catoDs Of their charts wherever they
dertake to sail By them. Thus Free Trade de-
monstratcs most logically its premises being I'D
mitted that Absentceism or the residence OF large
capitalists and landbolders at great distance from
their estatesas that Of the landlords Of Ireland in
England France and Italy-is no detriment TO
their tenamry yet the common sense OF mankind
has long since decided thst question the other way:
and 10 Of others And we ind. in the las, North
British Rsricw an article based on Strings PHI
losophy Of Trade which. though from the pen of
an able Free Trader, admits and regrets the error
into which his brethren have too generally fallen Of
dealing with Political Economy os If itwere one Of
the exact sciences. and reprehends what it terms
The abstract and demonstative style Of many Of its
free Trade writers in whom the logical has greatly
prevailed the observstiona and who, by playing
at logic with the terms OF their science have elected In
the form and with all the pretension OF demonstrative
trths 90 many d0Smata ukih do sadly IN con fo
rih the lessons Of ordinary epoienes'
The Reviewer proceeds to point out several in
stances of such conflict between Free Trade dc.
monstrations and the lessons Of ordinary expert
ence, which he regards as proving the unskful-
ness Of the authors, but we deem palpable evi-
dences that their elemental principle is unsound
causing the error in the subsequent deductions
We will quote two OF these, and leave them to the
readers unbiased reflections
"Our first example is taken from DR.. Smith cele
brated doctrine of Free Trade. which has nj length
POUNDS Its way into Parliament and after the srduous
struggle Of many long years has been ratified there
But he betrayed into unfortunate generalization,
AMI his followers in the utmost danger Of falling into
the same error when he denounced, in such sweeping
and unmeasured terms all express interference on the
part OF Government with the operation Of demand and
Supply-wbeihcr in the shape OF artificial encourage
ments on the hand on of prohibitions on the other
A fuller view Of human nature would have suggested
important corrections upon his theory and
70 limit and restrain the universal application of H. II
might be well that most OF the articles of ordinary
chandise should he loft TO find their natural level
because In regard 20 these men might with all safe ~
and advantage be LEFT TO themsclves-ther demapI for
O commodity being usually up TO- nay. often ,eyond
the extent OF its being necessary useful But there
arc certain commodities. certain most d. rable things
for nation 70 have purchasabe thing too 10 be- had
for price, but such PRICE es many individually
their own choice not willing T., bestow upon them
and which price government does wisely and rightly in
helping out by i own grant, though IL should in
eur the charge OF depar1V from the philosophy of Free
Trade BY the imposo' Of that obnoxious thing called a
bounty. For instance. it should give a bounty Edu.
vauounrst on popular education and this in order that
might be divsed throughout the land because there
10 no such effective demand for II throughout the com
mupity at large a. to call forth adequate supply of
scund and good education And, secondly, on the edu
cation OF lofty and abstract science-ior certain it s that
H. on the part OF the weather. classes would
It's requisite encouragement in the midst of US And
hence the sound policy both OF endowed schools and
endowed unive rscsthe latter of which Ia particular
are looked and especially by grosser utita-
rians both In and OF Parliament with hard and evil
eye. The salaries given to Professors hkcncd 10
bounes upon commerce; and species Of philosophy
the philosophy Of FreeTrade has been conured up In
opposition to them We doubt not that Smiths Wealth
Nations has given currency to this order of sentiment
among very many of economists and statesmen who
little know how much they have contributed and under
the suise too. Of phlosophic maxim. only 10 yu
garss the policy but greatly to inure aud deierorste
some of the CHEST aud substantial interests OF our
nation On the continent Of Europe and under some OF
Its most arbitrary governments they order this matter
better than we do.
their head when they venured the educational and
moral department OF nations affairs have reasoned ii
against the encouragement OF bouutythey on certain
psher subjects involving too the highest of public
Interest," have reasoned equally III against the laying
Of prohibitions We would Just instance the question o
regulation Of the character the exscon OF cens,
go costly greatly iin and crcumscribc their sale
Ths too. 10 an Infringement ON the philosophy of Free
Trade and such. is resented by the Undetermined,
idolasers OF our modern liberalism who would lesv,
everything to the operation of demand and supply with
ost sdvertng 70 the question whether this demsnA
be In defect e~cess-so as To effect under supply il
one ease. ami over supply in another |, IL beosas
Of defect In the taste wish for lesrring whether
sacred secular character. that Government shout,
cndow schools and grant bounty upon education.
ths 10 the result of commonly brutszcd isnor
ance And 10 because Of In the taste De
mand for sprtuous liquors that Government, should Inn
IL their consumption ~ the uttermos, by tax on tn
commodity otherwise and lay the heaviest poss
BILE restriction this branch OF trsde-snd this
the result; OF scommonsly brutszcd by low and los,t
scne dissipation. Il is even with grave considers
ton whether the principle does not apply 10 tn
reforms Of Lord Ashley the employment of factor
children though this Involves restraint personal
well commercial freedom II the worshippers of Ere,
Trade by following on, their principle shall land
corrupt populston,hen the beat objects of wis
and virtuous legislation made sacrifice Of to the mag
aud mcekcry Of name"