Sacramento daily record-union., 1883-10-20


regarding the underlying principles of the
science, an ignorance which. it is evident, is
beginning to break up from tie deepest foun-
dations, and just in time to save the country,
possibly, from serious trouble for, with the
study referred to, the truth must advance.
and with the diffusion of light on the sub
iect. the danger that always exists when
ignorance prevails must pass away. Ths
menace TO the forms of popular government
has resided chiefly in the ignorant demands
of those who would have society do for men
that which they should do for themselves !;
who would upturn all systems of government
to the substitution Of schemes which are the
outgrowtb Of discomfort and Incidence, and
the dangerous teachings of the radical
schools of socialism of Europe. But the
menace has been found also in the prevailing
ignorance among lawmakers and executors
of the law in our country. Perhaps we have
more to fear from this class than from those
who boldly and directly assault our whole
system. Nowhere has this lack of inteli-
gence of the economic functions of legisls-
tiop, apd the true policy of State. been
more manifest than in California. Refer
ring to the lack of knowledge which, as
people we have Of political economy and its
governing principles, Professor Perry says we
have never had national Textbook on the
subject such as the English have enjoyed in
the work of Adam Smith. We should be
well-trained in economics, but we are not !;
we have never been driven, he adds, by the
pressure of want, or by med @val burdens of
any kind, to study this science. Politically
privileged classes have been mostly unknown
in the United States wars have been infre-
quen., and standing armies never allowed to
suck up the substance of the people.
An abundance of cheap and
fertile land has besn constant
resource to persons anywhere oppressed by
competition, or in any way feeling uncom-
fortaby the pressure Of numbers" "Our
people," in another place he SAYS, "hsve been
led to study very little their limitations, and
perhaps least of all their economic limita-
tions. The enormous losses of their COM
mercial crises, and theiriprotective tariffs,
make far lefs impression on them than they
would make on people less fortunately placed.
Then, too, a knowledge of economic science
has scarcely ever been requisite for places Of
honor and profit, not even for the highest
fiscal positions. There has been almost no
demand for this kind of knowledge. OF the
Secretaries of the national Treasury even.
only Hamilton, Walker. McCulloch and
Sherman, could lay any claim to a scientific
mastery of this subject. Only few men,
bers of Congress have been economists in
the scientific sense what is worse, these
have been regarded as scarcely better qualified
for their places on that account snd, conse'
q b, hat ytay
ton of Congress has been guided by much
economic wisdom. The fiscal and commercial
laws have often been most complicated and
conflicting. Now and then governmental Of
fetal has distinguished himself for ability in
special parts of the subject" Among such
Professor Perry names Mr.. Wells, Special
Commissioner of the Revenue; General
Walker Superintendent Of the Census; DIR.
L4nderman, Director of the Mints and MIR.
Elliot, Statistician of the Treasury.
Professor Perry ia a deep thiuker-one
whose mind is not at all disturbed by the con-
ditions of the country or the exciting causes
of public movements-in his consideration of
the abstract subjscts treated in his work. He
taught the principles of political economy
twelve years in Williams College before he
ever thought of writing treatise on the SUBJ
ject. He finally did attempt the task, and
produced volume which is Introductory to
that now under notice, and which is in its
eighteenth edition. There is probably no
better read man in America on the subject
than Professor Perry, and Rone who have
treated of the subject with a more conscien-
tious regard for the Importance of the study
and the development Of its truths. As he
dwelt for years on the question of treatise,
and the possibility of producing an original
work, he kept asking himself What is
political economvl Within what precise
field do its inquiries lie: Is it possible, sim
pie and clearly to circumscribe that field ?"
He finally concluded thst there is no good
reason why economical discussions should be
confined to tangible commodities, and not il
clude as well, personal services rendered for
pay, and also credits of sll kinds. The word
wealth was the one problem to him, of greater
moment than all others. From sll MS read
ing he did not gain clear conception of just
what that word covered. He found that no
two writers had the same idea regarding it,
or the same conception of its meaning,
and that no one OF them had
given a wholly satisfactory definition of it.
Finally he fell upon Bastia:'s Hsrmonies of
Political Economy" and then the whole field
opened clearly before him. He does not
know how much he brought to that result,
and how much toward it was contributed by
Bastiat bushe does know that from that time
science, He did feel, however, that he had
not only found something, but that he had
something of his own. This he contributes
to the worlds store of knowledge in this
work, and which, since it has been before the
public, has had q very hsttering reception,
both here and in Europe. On the question
of land, there are chapters of especial inter-
eat, and the claim Of the author to have ed
vauced new thoughts on the subject, and to
L. .E1 .1k
son in its consideration, is just. We cannot
in this review enter into the details Of the
work before US or adequately point out the
manner of the trestment of the various
topics considered. To attempt to do 80
would be futile. 1t is already concise, and
not capable Of condemnation. But, in gen.
eralization, We may express our belief that
on all the leading branches Of the study Pro-
fessor Perry holds to those views which are
in accord with the highest developments OF
civilization and the most advanced thought
and the best reasoning The method en-
ployed by the author is simple one,
and admirably adapts the volume to
elementary uses. The student who has not
attempted reading on the topics hare treated,
can, without difficulty, take up the book OF
Professor Perry as an introduction to this
most difficult of sciences. Its perusal will be
found to discipline the mind. strengthen the
analytical powers, sharpen the perceptions.
and give yigor to the mental faculties gener-
ally. The study Of this and similar works,
and to which there is now so strong tend
ency, is, as we have already remarked, one Of
the most encouraging signs of the times. II
our people become in the next twenty years
wellinformed d upon the fundamental princi-
pies of economic science in government, the
result will be seen il the selection Of repre-
sentatives equally as well and better versed
in political economy Then will follow order
out of confusion, msthodical and wise practice
out Of the experimental present in which
vague theories, impracticshle schemes and
wild reforms Of ignorance and One-idesism
have the rule and sway. If we advance to
the best government, and to the loftiest sd.
ministration, and wisest adjustment OF
economic problems, it must be through
the dissemination Of correct information