The Sunday herald. [volume] (Washington [D.C.]) 1866-1887, 1883-03-04
NEW PUBLICATIONS,

POLITICAL ECONOMY. BY gRAsors A. wALKER.
New York: Henry Holt & Co. IL mo-, PIP. 1870.
As n systematic treatise on political econ
omy this Is undoubtedly far superior to any other
vet issued from the American press; and 1t may lie
doubted whether, as general textbook Of the sell
ence its superior appeared either side of the
Atlantic. Its author Is Of the clearest
and strongest OF original thinkers; his
quantnnce with the literature OF the subject
treated is very extensive, and as Director
the Bureau of statistics and Superintendent of the
OF 1870 and 1850 he has had the advantage
OF exceptional opportunities for acquiring compre
hensive knowledge OF facts In the realms OF industry
and trade To these qualifications he adds open
ness OF mind-a breadth OF outook-whlch enl-
bes him to do degree OF Justice to the views of op
posing schools Of thought of which but few economic
writer's have shown themselves capable. There are
vigorous and influential writer's economic questions
who appear to see In vistas only. What
lies right before them in their narrowed field of vision
they perceive with all possible dtinctness but every
thing that lies outside OF eectualy excluded from
their view To such writer's In much too large a
measure has heretofore fallen the instruction Of
American youth In economic science and II is mat
ter for congratulaton that teacher ampler
knowledge, broader views and more catholic spirit
has furnished work comprehensive In its scope.
logical in its arrangement of topics, and admirably
clear and forcbe In its literary STYLE which is equally
adapted TO popular reading and to general use as
text book in schools and colleges.
The point Of view from which Professor Walker
has written Is very well indicated In passage which
find III his opening chapter. After noticing the
method of the prori-sometmes called the English
school of political economists, who reason as II the
only human characteristics requiring their considera
ton the desire to acquire wealth. the desire T.
enjoy in the satisfaction Of wants, and the desire TO
get along with minimum OF labor, our author says:
The economists ofthe SO called German school have
been disposed TO deny not only the universally OF
the principles deduCed from assumptions arbitrary
aud falling far short of the real facts Of life and
society, hut also the significance, for any purpose
whatever, OF conclusions thus obtained The econo-
insts of the so-caled English, or Ricardian school
have treated the method OF their opponents as un-
scientific giving scope to charlatanry, and at the best
tending TO mere sentimentality.
The mutual contempt entertained by the two schools
IS not justified by large view OF the progress of
political economy In the past, Ivy consideration of
the history Of other social sciences Political economy
should begin with the Rlcardan method. A few simple
assumptions being made the processes OF the produc
ton, exchange and distribution of wealth should be
trdced out and be brought together into complete sys
TEN, which may be called pure political economy. or
arbitrary political economy. or, prtOri, political
economy by the name OF Its greatest teacher.
Ricardian political economy. such a scheme would
constitute the skeleton OF all economical reasoning
but upon this CHASTITY framework should be imposed
the flesh and blood of an actual, vital political
economy, which takes account OF men and societies
they are with all their sympathies, apathes, and
antipathies with every organ developed In life,
The topics In whose treatment Professor Walker
has most departed from the prevailing teachings OF
political economists are wages, money. and profits
The two former he has dealt with at length In
separate treatlses heretofore published In each OF
which he has presented large and valuable body OF
original thought. In the work under notice lie has
advanced new theory Of profits, the law Of which
he assimlates In important particulars with the law
Of rent. In treating the law Of rent itself he follows
hnsp trIn has tota will
and compactness characteristic Of his style. The
Ricardan doctrine Of rent however, while throwing
: food of light upon the subject, needs,
It seems 10 us, some important notifications
and fuller statement of its relations and
consequences, II is to be hoped that Professor
Walker may hnd time to take up this subject as he
has taken up those OF wages and money aud to give
tia thorough and elaborate discussion. II is work
for which he is emlnenly qualified by force OF Intel
lect, breadth Of knowledge, and that happy combi-
nation Of courage and Judgment which enables Its
possessOr to throw on the trammels Of authority with
out rushing TO unwise extremes. II is work, too,
ior which there is urgent and immediate need since
there are public interests OF universal extent and
OF the greatest importance which cannot he rightly
dealt with unless tine law Of and It's proper con-
sequences are clearly and correctly understood,
ICE PACK AND TUNDRA: An Account Of the
Search for the Jeanette and sledgs Journey
through siberia; by WILLIAM y. GLIDER, cor
scIkatias sesSc6 With maps and i' iiIastral
tions, New York: Charles scriUner's Sons. FOR
sale by VIM, Balantyne Son.
Col. Glider, who was chosen on account
Of his experience as second In command Of the
schwatka expedition after the Franklin records, to
represent the New York Herdh In the search for
the lost Jeanette, has certainly brought out of
the handsOmest It he not OF the most valuable
works on Arctic exploration. While the literary
style bears some marks OF hasy newspaper compost
tion, the illustrations are copous aud Interesting,
the typographical execution pleasant to the eye and
the maps clear and new. Col. Glider has drawn
freely on the journals and diary Of the lamentsd
DE Long, printing the latter almost In full
as It appeared In the newspapers: hut so
many must desire 10 possess this sad, stTangeTe.
cord In permanent form that " Is far from diminish.
ing the value Of the book II Is record Of dis
aster and hardship throughout, including the
loss Of two hne ships, the Jeanette by Ice
and tho Rodgers by Are, aud the death Of so
many brave men, but through It all the courage
stancy, aud seananship Of the American Navy shine
out IN bright colors, as well Of the nOblest
qualities Of our common human nature, as eylnced
alike IN Ale1y, In Soros and: NlndeTuan, IN the
Chinese, and even IN the half-sayage nolnads Of 81
Dera. The work also gives, especially IN the maps
and Illustrations, information about distant and
neglected territory Of Alaska and hecontguous waters
aud Wrange Land which We must regard as new,
n useless addition 10 domain, which win he fresh
20 many persons.
George W. smalley, writing from London
says Some OF the Paris papers publish accounts OF
the Memoirs which Nine. Sarah Bernhard Is witt
ng, and which are % appear next April The title
IS 70 be Ma Vie an Theatre, and the whole Is 10 be
comprised Ia a single volume But what a volume
eHcaims the enthusiastic chrOnicler. NJ Roybet ana
Mle. Athena are TO do the Illustrations one Of which
Will be itching after Mile. Abb6ma's portrait OF
Nine. Sarah. The edition VIII consist firstly OF $50
copies fol book lovers, bound IN Imitation OF IN Old
mlssa the pattern Of which Roybet Is 10 draw and
glgu Then comes 900 copies part on Whatman, part
India paper, with the nane Of the buyer printed
on 1y-ieaf, aud tue signature OF the author. The
rest Of the edition 10 DO Ordinary syo oOpiesas n the
100 copies above particularlzed did not make pretty
large edition But everything done for or by Nine
sarah must be on great scale ard out Of the
run. No ordinary publishing house Is 10 be inlTused
with the production Of the book. A NJ. Louis Oar.
snhourg Of whom even the omniscient reporter Of
the bouleYaIds admits he never heard before Is TO
go Into the publishing business on purpose TO bring
out this one book, though with view 10 others by
and by. The report that lac had agreed 10 pay Nine.
sarah $40, 900 Is contTadicted lie and she are 70
share the prohts-a short way Of saying that Nine.
sarah IS Eoy to have her labor for her palms. ~ Per.
adventure tho dealings of FrOnCh pubsherr with an,