New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-11-30

u u 4 ItVN-F =
Gallons "PubYic Economy"

kEssRs. EDlIohs. PtyPOsS W give II iV~
,bor, sr,ic'es, b,ief analysis Of Sir. Colscn's
a. Public Economy FIR ,hs URtsd Stotes aad
Csntake chiefly 'or guide the second chapter OF
the wofk, which contains a statement Of Its new
points. BY thu new poiats Of this work M
&. lion says. IL 10 10, meant that al specuso Is
secn entirely o., tbOoRh many d them are ".'
on scc5on. OF the Importance given 10 IHtI' PDA'
ton. as compared with tho slight notice. tsAoH "
them 10 former works Of this kind, Il % thoUgo' pNP
% present them - rev. Many Of ioein, a. WI, %
SEQ, Involves foncsm~n.L and sLperVadihg pluII,
pet, such have no: bercto,gIs ben ineorP "
Vo'ks on Puzzle &c Monty" ., 49,. .,
neTs,sd D b, tho author among his ns~ polHs zoe
very title o; bic BOOK, PE5te Ee1noTiy' - -, -
the common Denomination OF Potl'oa' L3o' a.! ,
wolves new pOipt he says be prefers tols hlst rum
Taste and next from principle. From iAstr, because
tho term pJl!uca, Ia such an s2pleSuon ' ~ ub,Ol'1
nate Ia is su.ges1n Of the loT suo Floeht siHsS"'
political Dartlcs hut rhiefy from principe, because
p.bIi. economy dff-,s from private, DO. Ia principle,
bu oay "a t- b. Of interests, sn1 10 the various
,estlons Of those Bar~sis 70 De cOusd~rtc snc BE-
ossss it mas beeo mnony s1Ppoted there are TWO
sn4s Of scononny on- for public End sSotber for PIT
yst@ Purposes VbsfesR ~ nf Cotton nan,alns there
can m re bc twI kin6s Of econ my thsn two knos
o. ho7eity rsi,yl On moral questions t'cDomJ
10 sconony honesty h0aet'y, end Tor IKE imnuts-
be reasons
Toe fai title, Pubic Eooaoay 70, Gt Uqted S,a,c,
sso irvt lge new int as Cci sdJgiTd % this cJup
rys Bot his CD :ai sn1 ssdas Nc ~ pOini o. She
work brought out ia tte de'rrOn ~ tee Yns'sI suJ
isct which prOyefc c1usiccr 10 his D. fulton,
and which Il given as fol US
PEiih Eoon0my u ' arp oaoH n kgovle tqS d1it,d
om nP9,eHoe, % go"' PpsHiop. gun ,ntrsts, and
Ssen tErfph0ns NJ op tud,peudssi S'a,sr Ha,0r f9r
hf tH1'ase n Dpbl,e a4dJy,oais neoih"
]: sUpPoses that this ~ 81 sotrey Isw dehoillOn #
The ~ Jet and for rsscting logical fn'uds IL IL quite
Unnecessary 10 cay, tia, deui,onI tho controlling
laws of debate on the question 10 which - apply,
. Mr. Cotton says Ia al sci,rtnc ms,igston', De
fliOns discharge the functions ~ finger. pos; Of
door q access the field 4 msrsiog the boundaries
that field and Of glance View Of the whole ground
i,s no text Of the subject sDd TIE rule Of the ago
nent."
This dehoilon oceu plea the important position II IL
stJU pfevsi and be adopted, Of ef@cuUg complete
revolution IN the science Z! canrO. but De seeD
dance that Il rescves the whole su' ct entirely and
f ever from ihe dOGuion end cOGtrol of all genera
ysen' thss 10, from all systeus whst yer that nave
rsfotOre been pubfshed, inasnuch ne none other
than general and oOmyreheDsys - ems bsve been ~
tempted. Who does not gee that 9tcsR position,
giU-n interest aud grim Institution of 4 P'cnt0y
character, cannot be reached even approached By
general pToUostons1 Az have lately stated Ia
isston to this very poiot aad this very definition, all
stneI al 'ystems Of public economy are siupendous
sbsurdiues. They Bro sbsufdiiies because they a.
tempt physical imposs0 iity aud siUpendous because
ttey are Of vast complication. IL Is impOssible,
therefore, IN the formation OF asystem Of public ecoo
omy for the United States to do justice to position
Interests aud Institutions, except BY setting aside ali
gsHOa sy stems aod adspiug rules 10 the PECULIAR
toe Of This. II understand Mr. Colon, ia
great priociple Of his definition aud OF his work
and think too II is common sense. Kttter this def
nhOn must be Iejectco. or general system both
cannot stand
am inclined 20 think the defnition wil prevail
aud, II So very important results mutt follow There
no middle ground between the pstb which It points
out ara the only Either system must be adapt
I'd to the prevented 9tUeH case, "a g'eB post
tOn, given interests and given Institutions there
must iti be- forced application of The Old general pro
position. 1 say frau, and in saying this mean all
that 10 conprehended that which is unnatural and
violent, and consequently destructive. Common sense
aod sound reflection applied 10 ,ha question raised By
this deruiton WILL think, be quite TO work out
uniformity Of opinion in regard o. it.
dwell thus much on this definition, becluss It cou
,htutes .tartng point upon held pTescrD-s
ard definite boundaries, and must necessarily de
tsrina and control every argument ihsti made the
general sub ect Here fjr rx.mye, ia this very work,
"an octave volume Of 516 pages, with 80 ehsP,er''
each dstioct topic and yet every chapter add ey
cry paragraph fan within the Tenfo IL this dshultOu
end suggestod and controlled by H. The definition
throughout discharges effectively the functions OF M
imperative Low, as ever ought TO do, In scientific
inquiry
But the authors own remarks will beat elucda,e TIL,
point
come now to another new point made In this work,
10 wits That the propositions the general subject
On far "a they general la their character AID OF
which general sysems are composed in all works hith
ero published, occupy the position Of tPir zeal iao
and cannot with sny pToprety, be called science "lt
implied says John stuart Mills Ia HE system OF
logic, lin the notion OF Snyuca i0,o, that II 10 not
rttiuafe ews property 10 ihst OF being unit 10 be
resd bgoad The linus Of time place and circumstance
10 which the ObieTv atoms have teen made
Mr.. Cotton cites Mr. Mils's exposluon Of empirical
laws hist copiousy in justification OF his dehni
tsn aud IN proof OF this second new point II 10 there
BY SHOWN to be- impossible that The proportions CON
posng general system Of public economy could have
snythrg OF the gertrude OF science In them because
they are necessarily Empirical will not enlarge
this point very important though It be, and one of
the IoIgest Of the work, because II requires the
closest al yicatiOn Of strictly logical mind to sppTe
cste II but would simply remark, that Mr.. Cotton
has Avaied himself Of Mis's " Logic for Of the
best possible refuistons Of Miles freetIade notions
81 announced in his Political Economy" since pub
lshed
Tbs refuiaon is found in Mills dehuitou end exposi
ton Of empirical laws and shows concusively tina, the
ffeersde propositions precisely OF that character
Another point IN this work. and OF great In
ieres and importance, is dtfoitlon Of freedom TO
Wit that ~ ~ the eN ilymtt u commercial
rSA aad a. the dpcadegt control Of commercial rdlHs
fairly acquired '-Oae could hardly imagine, hi hrst
Sght what and vac, held OF thought this denni
ton opens how much they t- within the rarge II
common observation aud experience or what pro
found aud comprehensive element OF public economy
eslirey new, the dcdOtiiOu scOsce.
ltpresents argument for protective policy never
before thought or and the strongest perhaps that
made. II 10 argument OF sentiment well ~
otioteres IL addresses itself to the hesrt well
10 the pocket 1t inyOkes national pride IL invokes
patriotism and every sentiment that 10 dear 10 free
men IL makes protective system absolutely mpera |
tive because II 10 Identical with the machinery re-
qUle tor the defense of Freedom. There Ia not an
Arericsn IN the laud who, apprecstug the dTiit and
scope Of this argument, would not hy and cling TO
protective system With rs much prOmpuiudc, vlgor |
s0d determination he would Gy to lho defense Of
ne country gslnst Invading force tor Protection
- based preciSoly upon the same principle
TO BE- cautna-dN