The southern press., 1850-11-02


dals, Burgundies, Lornbards, and other Northern
barbarians, who conquered and divided the Ro-
man empire, .swere purely agricultural, and
ought, according to my views, 70 baye been "mtsch
richer than The Romans " But il is not the fact that
they were agriculturists. So at least We are told
by Gibbon. They were shepherds and nomads,
and as such, although less wealthy than agrlcal-
turists, they have, as romads, the power of de-
voting all their resources to war by marching cHh
the entire community and all its property, which
consists of focks and herds, and thus their power
or success in was is not, with civilized nations,
a crterian of their comparative resources. "Jus-
tice" sneers at the application of principle which
he says is new, to illumine the darkness Of past
ages, and e!ucdate causes not duly considered by
ancient historians. Well, | supposed this would
be perfectly legitimate. hlacauay, in his essay
on history, complains Of the modern historians Of
ancient Greece, that they did not apply the prin-
cIples of modern science 10 the events of former
times. ga'f Afa#'8
-" Justice" next attempts 10 argue the question.
He says ''The productiyeness Of any pursuit
is measured by the amount which it yields of in
tereSl to the capitalists and wages theaborers em-
ployed in ii. Now will any man pretend that the
interest yielded or capital invested in manufac-
lures and commerce in Massachusetts, Rhode
Island, New York, and Pennsylvania is, in the
whole, lower than the interest yielded on capital
invested in agriculture either in those States or
in Virginia." When 'Justice" employs the term
g interest" three times in two sentences, instead
of profit he illustrates, In a striking manner, the
extent Of his acquaintance with political economy
or even his capacity for the most common and
most important distinctions of words and of ideas.
Ie also illustrates the value Of his mpoaton that
appear "to be entirely innocent of all knowledge
Of the principles OF political economy"
The general principle Of political economy 10
that the profits of all the different sorts Of invest
ments Of capital tend TO the same level it is held
that if one investment were TO be found more profit
able than another, capital would forsake the one
and seek the other until the profits of both were
equalIzed. But then political economists recognize
many exceptions,or causes that disturb the opera
tion Of this principle. Men differ, as {" Justice
and myself do, To the respective results of differ
ent investments. They differ in their faculties for
this investigation and in the prejudices and pas
sions that pervert their faculties The subject is
not plain enough for the mass Of men, They are
governed by appearances and are captivaed like
/" Justice" by the display of "the magnificent
buildings that adorn our cities" They can see
more wealth at glance in the same area. Their
attention is naturally attracted to the fine houses
and fine people rather than to the mean. They do
not consider how many embark in these snowy
pursuits as competitors for the same prizes, and
what proportion have failed, and what proportion
of the fortunate have yet to fail what porpor-
ton appear to have succeeded who have not, al
though they are living in luxurious indulgence.
Like Z" Justice" too, some have skipped and
SKINNED over history, and have been struck by
the display of wealth in commercial States, and
like him have not considered how they collapsed
when the time arrived to test the extent of their
resources. Multitudes Of men would in this me
ner be msled into the belief that commerce is the
most profitable of employments. Hence they
seek it. They are allured also to that pursuit by
Its apparent exemption from laber, enjoyment OF
society, access to amusement, and ready facilities
ri alfrAt al thn,,,
to be led captive by their nclinations Hence
commercial pursuits are thronged with capital and
skill beyond the capability Of the business to EN-.
Tloy with profit Hence commerce, instead oil
being uclative, iss losing pursuit.
The mercantile business is beset with excessive
competition, with extravagant expenditure, with
the hazards OF speculation and with all the allure
business thus exposed can generally prosper, con-
Quoted as 1t must be by beings who are only men.
Some instances of even splendid success occur,
but they are exceptions to the general results,
like the winners Of the high prizes in lotteries ;
and like them the noise these make acts upon the
hopes and passions of mutitudes to try their for
tunes also, and like them, too, they prove that
fortunes may be made in business where the az
gregate result of the investment is loss Com
merce, then, not refundng the capital invested in
t, with the incidental expenses Of carrying it on,
instead Of augmenting directly the wealth of the
community, reduces it, by attracting capital from
other more productive pursuits and sinking a part
| of 1t. remarked in the lecture that there was a
constant absorption OF wealth from the country
by the towns in the free States, and referred to
| Boston as striking instance whose population
had made no natural increase in twenty wears
This passage has been assailed with the usual
| folly and asperity Of my commentators Osoood
Mussey says that the reason why so small a pro-
portion of the citizens of Boston are natives is
that the latter have for arant Of resorted for
| residence to seven of the surrounding towns. He
observes, "the native born population was bu,
35.92 per cent of the whole, and remark it, OF this
per cenage only 9.6l per cent were over 90 years
of age-the remaining 26.l6 per cent. being mi.
| nors. Thus the statistics show, what all ioho are
personally acquainted ,oih The circumstances k,op
that heads of families have their residence in the
suburbs"
These Northern men have certainly carried the
art or cypherng out things to a wonderful height.
Now, to a plain, Virgnan like me, of od-fash-
| Ioned arithmetic, it would have merely appeared
from the great ercess of native minors over native
parents that considerable portion Of The parents
OF these native minors were not of Boston origin,
these children being born in Boston after the ar
rival of their parents. But as our Northern friend
cyphers it is because the heads of families live in
the suburbs Indeed then weare to understand
that the naIve-born parents of about three fourths
Of the native-born children of Boston, live in the
towns around Boston, and their children under 10
years, live in Boston. Besides, according to the
official census of Boston in 1s45, only about II per
cent. of the children born that year were of native
Boston parentage! But as such cyphering as this
might not be quite conclusive with those whose
minds have not had the good fortune to undergo
the thorough discipline" of the North, he gives
us the assurance that this is known by all who are
personally acquainted with the circumstances! The
writer of " Justice" borrows this argument also
without acknowledgment, but attempts to make it
original, perhaps in the only wny that he could
make it so, by making it abusive. He calls my
remarks on this point another "precious exam
pie of F's reableness in the handling of statis-
tics--he seems always to make, or misuse them.
good witnes will not only tell the truth, but the
whole truth. Why did Mr.. F. undertake to show
so intimate an acquaintance with facts in regard
to Boston population, to lead people to think
his conclusions could be relied on, If he was igno-
rant Of the fact, allimportant as to the point he
has in hand, that a large mass Of The population
,rhch property belongs TO Boston, live ,ciihou the
limits Of The ciiy."
Now against the cyphering ofhe first Of these
critics and his personal acquaintance with the cir
cumstances, and against the dogmatism and sour
rility of" Justice and hts very intimate acquain-
tnnce with the facts, have to oppose the official
rensus Of Roston bv the aptborit,y of tho c;t,,