New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-09-05

HoweYer excellent In many RESPECTS aiill 1t cannot De
denied that the arc errors and hose 100 o. no ssns
pofsnuce In The Wealth OF Nations DR. Smith does mol
asy that In prosecuting such branches OF industry ~ aye
vos1 advantageous themselves, individuals necessarily
ercsecne huch at The suas time most
K The public His leaning the sysem OF Oqesnaya
ssaanH ps plbe In every part o ala am 20
ar svefys from the seander principles OF his own BY se
as 10 ndm thai the preference ahown by individuals 10 fs
OF particular employmenR 10 nos always " We t Vi
Sss ppbe ad He considered agriculture,
nons h NOT The only productive employment as ss most
productive Of any; tue home trade a. more productive
Ran direct terei8n trade ano ias seI asn as a
Fundamentally erroneous. feraaps, however,
Gre principal defee OF The Wealth Of Majors consists In
ts erroneous dcepes laid down Win respecs TO ne inva
Yahls value OF corn and tho effect Of dacusons IN wages
and profits on phces These have prevented Dr. Smish
naRfe and caused rent and the laws which govern the
rata pro6s and have 10 consequence wished ha ihso
reilca conclusions Of his work which treat Of
tAe asioa,on wealth and the principles 81 alton y
IP,meitles Of Political Economy by j. Il, McCal!och.
lfyoa viii examine carefully the foregoing Elk.
sracs, you cannot fall to discern how great those
deficiencies are which the pupil alleges against she
master, for be declares him to have been ignorant
Of the true character aud value, firstly, Of home
sreae; secondly OF foreign trade and, thirdly, OF
the carrying trade between nations A pretty ex
Sepsiye category OF ignorance thih Isl aud then, In
addition he declares that the master was not aele
% dscoyer the lsws which governths rateof profit
Now, "a sill increate of wealth ia comprehendeeby
the term Prqkt SO, failing to discover and sppre.
appsehend the whole subject OF the creation of
sPsei!h.
The next category of deficiencies admitted by
ths schoolmen themselves, we derive from the
writings Of Malshus. They are comprised ia the
following passage;
Stss tbs OF hese dstn gushsd writers shs sneec
hss gradually attracted The attention OF greater number OF
Persors particularly during the lat tweay OF thr'y years
Ah hs nstp psoPesona OF the science have ossn exam
hs aud hs events whieE have since occurred tsndng
elsf 10 illustrate eoniuts them, have oesa TeP9asy
discussed Teeteauh OF this examination ard alscasso9
soss TO b thai very important poine nefs Hfe
SUITE ress differences OF opinon Among these PsfaePs.
sy eeIsskonsa the definitions OF wealth and OF ptednclss
seotne nssare and VI value, The naats ana
sase1ss sIshe principles OF densnd and supply; s on,
Psegsess OF teal; tho causes hch pr%oscsIy re-
.aie sse ms .ss PsegTess OF wealth he level 81 me
as1ercs &c Psiaeipes of poisea Econosny; by = r.
NslthRs ediaen tSs,p s.
BY shese passages itom the writings OF Nautilus,
containing his latest Judgment, for tha work has
been Published aimee his dealt, yon viii aee Row
much the writer's on polisioAi EcoaOmy have left
succes ding inquirers 10 explore to discover and
10 explain to the weird,
She neza eyideBce which We win sdaese ia de.