The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-08-07


The distinguished economist, Henry C.
Carey, has drawn striking illustration of
the difference between. the wealth which is
defined as mere accumulation of mate
rails, and the wealth which gives man
greater control over the resources of ma
ture. If man should in the course of a
year produce steam engine by the varied
processes from digging out the ore to form
ing the wheels, rods, valves, and cylinder,
the addition of wealth to the country would
not be merely the addition of so many tons
of iron and brass in the form of an engine.
1t would be the power or capacity of that
engine to produce more than the man could
without it. If, for example, he could build
one engine in a year, with the engine itself
he would produce, say, dozen. This
crude, and so far as mere figures are con-
cerned inaccurate illustration, shows that
in the production Of engines, telegraphs,
looms, furnaces, and machines of every
description, something more is gained than
the mere material which constitutes them.
.r, In addition TO the capacity of machine
to reproduce other articles, at a less costs
and in greater abundance, we must consider
the reactionary effect upon the maker of
the machine. The process of making q
machine is an education for him. He can
make the second one better or more quick
er than he can the first, The third better or
more quickly than he can the second; SO
that, IN increasing the capacity; of material
machne-producers, he improves his own
mental capacity to produce machines.
This better knowledge and increased skill
are his capital an addition to his wealth.
His knowledge this year is worth more to
himself and to the world than it was last
year. Hence the value of bis labor is not
to be measured merely by the amount of
new material he has added to that which
already existed. We must estimate also
the greater power which the world has ac-
qured over The resources of nature by the
y means of the machines which are produced,
and the greater skill of the maker to pro-
duce others more rapidly, or which are
more ingenious and economical. 4.
The free traders, in arguing that the
chief and righteous principle of political
economy is to buy where you can buy
cheapest, and that the protection of Ameri-
can manufactures and diversity of Ameri-
can industry are of small consequence. in
comparison, ignore two clements of wealth.
They allow nothing for the increased power
of developing the natural resources Of this
country and for the increased mental capa-
city of workingmen, by means of manulac-
turing industries established ON our own
soil. To enforcing and describing this ele-
o. ment of political economy, Mr.. Carey has,
in the article referred to, devotedhis wide and
varied knowledge, his facility of illustra-
ting, and his facility of statement. The ar
ticle is philosophical, clear, ineligible, in
teresting, and we commend it to general at
tention. Consider his striking proofs that the
English manufactures are to-day employ
ing their capital, not to develop the re-
sources of that country to the best adyan- |
tage and give employment to thousands #
its paupers, but to break down the manu-
featuring industries of other countries. in
the hopes that when they have secured
monopoly, their vast profits will repay their
losses, and concentrate the manufacturing
capital in the hands of the few who NAV
survive the era of cheap goods. This sys-
tenn brushes out all the smaller manufactu- |
rers in England, and builds upa few men
at the expense of the rest - sat4H 'A'.-