, 1874-12-05

Ing Of "law,n Tho s'1aw" which determines
tho ratio of the wngcs-fuua to the whole oapltnl
Ia prcc,soly like tho law which makes mau
ont wleu he Ia hungry md slaop whom ho Is
tired. It Ia profitable for lin to cat, to a1oop,
and to dovoto n cortan part Of Ills cari-
tal to paving wages. Therefore. ho dooH
nil tI,reo things, although ho Ia not forocd
to do either OF thoni. 80 hlil was
riglt until lie said ho was wrong. cairhos
en,1muratog throo callHoa which fix tho propor-
ton of tho wagcs-funa to captAl They aro the
atrougth Of tho dosro Of accumulation. tho op-
portunitica for profitable inveatmont and tho
character of tho national industries. ThiH
schedule Ia unscentino. Tho laat Of tho throo
ia the only ca,1so which 61os the ratio OF tho
wagcB.fllntl to tho whole cspital. Or IN othof
words, rnnkos it profitable for tho employer to
apol1l scl,-ant-Auuh shhro ot his capital IN
paying wagea.
Prof, Cairncs thinks littlo Of tho poWor OF
trades-,lnlona to raise HaBea. They Tan do ao
le says, only whom tho fncrcasc ts "in tho mir"
and suro to come ut any rate. Thou they may,
uorhaps, haston it. Thia part Of hts book will
IoubtloHB call out homo oarucst ropliea. The
Fortn,qhtly Rcuie'o for November contains a
this statement. Cairues, like Mill, believes TINT
au1 1Ebk AtHt ~ EAo Hs1~%Aikt +A"oooD AVA sAS ~
turo lies In corporation.
Tho third part Of the work-~tbat On Interim
tional Trade discusses tho Protective policy OF
this country at 1onR.h. It iuan nblo indictment
Of Protection, n,-ao able that Tho Froo-Trado
League might we'll reprint 1t separately for dis
tribntion throughout the country. Prof CairDos
quotes an extract from David A. Wells report
for 1868, which doHorvos to DO quoted again.
Tile report says.
In the summer Of 1867 whilestudyin9 tho industries
OF Enrurs tue Co,nnfssionor x'stted lAs;ory' tuo
ssSe arEst .. IL liz u unsd proe
insly desirable should bo extended In tho United
Satea tho Cou1nHeioner studied tAs process Of lnu-
,sctre with great care from tue selection Of tho raw
material to tbs racsinu Ut tue finished product tho
Of Il. hs1. " Sof s " Wo hs
investigation WIS completed. tho Commissioner snau
to tho iurc:n n,anutac1nssr-l man wnose namo H.
household word iii utA country Tor integrity Atits
philanthropy: "The duty Oh tho import of tsose Art-
ees Into ths United satss ressctiyely - psr cent
per pound; II you have glsen me your prices pTo1-
ucss Of nshi!.ory and cost q labor correctly, 90
Hs ts e. Tstad ID" 4.e s0a s1' "1
substantially 10 duty, ,as the advantage Of
ss,sss + o.s y yy,o, eo ur fes
se1,:s u u ss ai i s ns
4go lutug ourselves prcssed with German compott.
to., Wa truw cut old machinery and rcp1acrd II
will Il new aud improved pattern aud tie machinery
by us rejcctcd WIS sold to go to the United 6tatcs.
Tue ownerB of this secondhand machinery
havo since askod aud got moro "protoction " fo1
It's products.
It ia paying dubious compliment to write,
on Political Economy to say tint lie resembles
| Iuskin: but this Is true, iu good seuso, o
Prof. Cairues. Hill makos man, economical,
considered, mere machine. He says: "polit
l {, NJ r.
being who desiros 10 possess wealth. aud WHO il
capable of judging Of the comparative efficacy O.
means Tor obtaining that ond. It makes entirt
abstraction Of every other human paRsion o.
| motive, except . aversion to labor, ant
desire for tho proaopt enjoyment Of costl.
indulgence" This has been tho usua
doctrine eyer Binco. Ruskn ravolted from it
protested that man WIS not wholly Boihsh, ant
that no theory TINT made linn machine conls
stand the test Of practice. CalYues takes thi
sanae view, without going to the Wild oxtremo
OF Ru4l.iu. Ho lays ssreBa on tho suborduatein
luences which rctard or quickon the worting o
the main Laws @. the science. Thus, be show
how tho maxim that capital flows to the point
wl,cro it can bo mont prohtably invested is naot1
fed by tie race, religion, oustom, prejudice, tg
noranco. lovo Of country, fear Of public opioion
etc., Of the Individual capitalist. He imitatos
ln this, the first OF tho economists, Adam Smith
vho was Professor Of Moral Philosophy a
Glasgow, md taught Political Ecouomy as
branch OF Moral Philosophy.
Prof, Cairnes volume, is as no have said, th
most remarkable work OH Political Econom,
That has appoared since Mills great book wa
published. Ira atyle !s clear. 1sR argument i
profound. It ia not a book for boys Or ANA
tours but tho trained studont viii enjoy it's oy
ely pngo.