, 1875-01-31

Fnwcett, the eminent political economist is in-
tended as an aid to those who are engaged in
the task OF teaching political economy It con-
ssts Of four tales. illustrating some Of the main
principles OF tho science in q most happy man.
ner. Tho first the Srim4ts, is devoted to show
ing the effects OF protection to native industry;
aud we can recommend It to all opponents Of
free trade. The Srimats wero people who had
had no intercourse with other people for
200 years, and who made everything they used
themselves, food, clothing. and machinery.
Capt. Adams, m old sailor, who tells the story
Of Srimats, Was anxious to Set up co1nmunica-
ton between them and Achoen for trading pur-
poses. He found them mild and courteous, ig-
ing in neatly-built houses and dressed in q neat
md simple manner. Whnt surprised him wns
TINT the hereditary members OF the Council alone
we're allowed to Own the palm trees which yielded
the palm oil To enhance the value OF the palm
oil, the Council OF the Srin1ats had decreed that
no inhabitant OF tho island should allow the light
of the sun to enter his dwelling. Not chink Of
light passed through the windows. Thus good
market YRS eccur ed for the palm OIL To pro-
tect native industry, they found 1t absolutely
necessary to shut ont tho light Of the SUI.
When Capt. Adams wished to engage
them in trade With Acheen, q Chief
Of the tribe told him that two-thirds
Of the people were occupied in tho max
ing Of palm oil, that the other third had to pro-
vide food and clothing for al, and that there
vas nothing left which they could exchange for
the products OF other lands. The old Captain
sugecsted that holes should be made in the
walls Of the houses, and that tho twu-thirds Of
the population engaged in the manufacture Of
al A, o1-a1 in ftn rnff
vation Of spices. The Chief rejoinod that to
take such step would be to reduce the palm
plantation laborers to beggnry by destroying the
most important industry Of the island. The in
hahtants would not even listen to a proposition
to tranefer the labor gradually from the cultiva-
ton of tho palm to the cultivation OF spices.
Capt. Adams had to leave the island, aud the
Srimats continued to enjoy the luxury OF their
bac-smclling lamps. The story is intended
to show that when once protection
has obtained in country it is in
possible to get rid of it without
iniuripg those who have invested their capital
aud labor in the protected industry. tits an un-
fortunate fact that, to certain extent, the
American people are srimats, and will not
hearken to Thousand Capt Adamscs. They do
not cultivate the palm oil hut they nro investing
their capital and labor whare It will not produce
tho greatest return just as the Srimats did and
In principle there Is no difference At all between
them
Tho second story-that OF the shipwrecked
sai1ors-illustrates the economic principes OF the
division Of labor, tho influence Of luxurious
habits on the weli-being OF a people, Of that O.
increase Of population on the cost Of food also
Of the principles that demand for commodities
ia not demand for labor. and Of o few others
which will be better understood from the fol-
lowing condensed account Of the story itself:
Capt, Adams is shipwrecIed with his
passengers and crow on d small uninhabited
ieland IN the Pacific. From the general wreck
tle7 saved few small articles, but only such
things as were washed ashore. They acted on
the principle tint " Findings IS keepings-" Three
men hauled to shore case containing twelve
dozen pairs Of boots Ono man who had found
case Of epitits offered a bottle Of rum IN e1-
change for pair OF boota. Another, tho inder
of q boz Of ca1pentor's toots, but who was una-
ble to uao them, was very anxious to part With
them to one OF the owners Of tho boots, a car
peutor BIZ trade. The carpenter WAS equally
anxious to get possession Of the tools. Ho Of
fered pair OF boots in exchange for them. The
parties, however, could not agreo- Finally, tho
finder OF the tools succeeded in getting pair Of
boots from one Of the other two men in ex-
change for the loan Of the saw for one day.
Green was the name Of the man who had found
the tools, and ho soon discovered that oJ loanlng
oma or Other OF them ho could obtaiu \ share in
what tho others had found, or An equivalent IN
tle form OF labor. To one man he lent his sx
and obtained three dinners OF dsh In re-
turn. To another he loaned bis EAw and got
half the number Of planhs made in the time for
which the saw vas loaned. But the men who
ueed the tools wcrc only amateur carpenters
who bent the teoth Of the saw aud turned the
edge OF tho ~, aud broke tho chisel IN two.
These accidents demonstrated to all TINT it "as
beat that the carpenter should do all the earpen-
toring. And, for like reasons, it was determined
upon that each one should find oas what be or
abe could do best and stick to tha.~aH OF which
tho tYro IN political economy might have told
tho oolon.sta from the vary beginning. Ihe
leesun w4a vory good QUO for sll. Al! TIT dah
md earps which tho uoloni5ts Minded wa huM
bso,a.sd hs tasst o4 thata. Hloa a.s al that