New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-05-06
BOUENS POLITICAL ECONOMY.

american Political Economy: BY Francis
" Bowen is fair 12mo of 495 pages just is
sued by C.. Scribner g. Co. We hail its appear
ance with hearty satisfaction. Mr.. Bowen was
long Professor of Political Economy, as he now
is of Moral Philosophy and Civil Polity, in
Harvard College. The false boast of the Free
Traders that the instructed teachers OF Econ
omic Science are all on their side, derives color
from the fact that they are etenally pulling
and pushing the works of their own doctors,
while they studiGusly disparage or ignore those
which controvert their views. Prof. Bowen is
an authority whom they cannot afford to treat
with contempt, so they will generally affect to
ignore him. We trust that the advocates of
Protection will take care that the Ignorance of
our adversaries, whether real or affected, shall
not extend to the masses. There should be at
least one hundred thousand copies of this
work disseminated throughout our country
within the current year-disseminated so sys-
tematically that hardly school district should
be left without it. Only let those who live by
their own labor be made familiar with both
sides of this controversy, and 1t must be decided
as it should be. Ignorance is our only danger
Ignorance practiced upon by the champions
of foreign interests who fancy that a constant
iteration of monopoly monOpOlists," " "a
opacity" "plunder," "plunderers,' &c, will
preclude the necessity of argument The Free
Traders have great advantage in their cen
trail organization, amply supplied with funds,
whereby tracts and handbills in their interest
are fairly rained upon the community. We
have no such organization, but we should
have and one of its first efforts should look
to placing copy of Prof. Bowen's book in the
hands of every editor in the Union. There are
hundreds going wrong to-day whom careful
perusa of this volume would set right. There
are millions with whom the facts and arguments
embodied in this work would prove conclusive.
Why is it-when such immense interests are at
stake--that we have no organization and no
systematic effort to bring Economic truth
home either to the leaders or the masses of cur
cOuntrymen
Simply IA specimen of Prof. Bowcn's
method and temper, we quote from the con-
Guiding chapter of his work as follows:
"The situation OF the United States is peculiar, that
arguments drawn from European experience for the
guidance OF American legislation apt to he wholly
falaeious and unsound. We more profably go for
lesson the other side OF the habitabe globe mean
to British India. There find deficiency Of capital,
abundance OF fertile territory, consequent surplus
OF agricultural produce and lack OF that skill in manu-
facture which only be gained by long experience
under strict Protective policy, such England has
oyed for nearly two centuriesal these circumstances
strongly reminding us Of corresponding features in
condition. Now, the Governor Of India, I'm q
correspondence with the East India Company on the
subject Of the Dacea weavers made this statement:
Some years ago, the East India Company annually
ceiyed Of the produce of the looms Of India to the
amount Of six to eight million pieces Of cotton goods
gether. European skill and machinery have superseded
the produce OF India Cotton goods for ages the
staple manufacture Of India forever lost and the
present suffering 10 classes in India is scarcely
to be paraiieled IN the history Of commerce.
"Ths example throws light upon another reason
already urged in another place. for the establishment OF
Protective policy in America, well in India-I mean
the great difference in the cost OF transportation between
raw materials and manufactured goods which operates
greatly to the advantage Of the country producing the
latter, because manufactures have much the greater
value in the smaller weight and bulk. Rice, wheat cot
ton, and sugar are among what might be called the
greatest natural exports Of India they produced
there very cheaply In great abundance The average
price Of wheat at Calcutta Is less than fifty cents
busel but the freight and other charges OF transport
ing that bushe to England and selling it there amount
to about eighty cents England, therefore, though she
has abolished her corn laws enjoys virtual Protective
duty against wheat from Ina amounting per cent
The cost Of transporting English manufactured goods to
India cannot average, exceed 40 per Of their
value The difference between these two rates. amount
Ing to 40 per cent Is OF course really prohibtve in Its
effects; and India wheat Is not brought to England
ut all.
The difference in the cost Of transporting raw mate
rails and manufactured goods the Atlantic is GER
tny not great In sending them round the Cape of
Good Hope but Is enough to give very important
advantage to the traffic to England Our chief article Of
export cotton, Is very bulky one; and even bread
stus and tobacco expensive for land and
carriage, than the cheapest manufactures OF the
loom. On the very principles OF Free Trade, which
nothing but trade with equal advantages to tho