The advocate., 1890-04-30


David Hume has been regarded az the
most subtle metaphysician and one Of
the greatest historians and political econ
omlsts that Great Britain ever produced.
He attempted TO introduce the expert
mental method Of reasoning in his
"Treatlse Of Human Nature" but he dis
covered that nothing is less common than
systematic thinking, hat the larger por-
tion Of opinion rests on the accidents Of
training and surroundings, rather than on
clearly perceived and thoroughly tested
grounds.
In his set Of essays called "Political
Discourses," he exhibited great aptitude
for economical inquiries, and he made
greater advances In political economy
than any previous writer Ills fnda-
mental theorem was, Everything in the
world Is purchased by labor" lie formed
pretty sound judgment on the merits Of
the French economists, and held quite a
correspondence with Andre Morellet, who
was long regarded as almost the last sur.
vivor Of the philosophic school Of France,
who was a journalist with a special turn
for economical subjects, Ills life ran
from the years 1927 1910, while that Of
Hume was in the dates Of iii 1916
HUMEs LETTER TO MoRELLET IN THE
COLONIAL PERIOD.
In writing upon land as q basis for
money, Mr.. Hume, who had been some
what imbued with the spirit Of William
Penn, who by royal charter was made
proprietor Of the province Of Pennsyl.
vania, thus addressed the Abbo Morelct,
OF France.
In our colony Of Pennsylvania the land Itself
which Is the chief commodity IN coined and
passes Into circulation. A planter Immediately
on purchasing land can 20 10 u public Oiilcp and
receive notes to the amount " half the value Of
his land which he employs I'm All payments, and
they circulate through The colony by convention.
To prevent the public being overwhelmed by this
representative money there are two means en-
plOyed First the notes Issued tO any one planter
must not exceed certain amount, whatever may
be the value OF the land secondly, every planter
Is Obliged TO pay back Into the public Office every
year Onc-tenth of his notes, The whole Is, Of
course, annlhllated In ten years, after which II is
again allowed him 10 take out new notes 10 half
the value Of his land.
This was the monetary system under which the
American COl0nlslS ptOspeIed 10 such nm extent
that Edmund Burke said Of them; "NOihlng In
tho history Of the world is Ike their progress,
10 wns wise and bonetCOnt system, and itScf
iects were most conducive To the happiness oi
the people.
Take the case of u family industrious and en-
terpTlgng, driven by persecution or misfortune
10 seek refuge In the wlds Of the New World,
With their sCanty means they purchase tract Of
land Many years Of hard labor, pryatlOn and
anXleN would have been necessary tO bring that
family into a state Of decent competency had
they been required 10 purchase gold and silver
by labor and by the produce " labor before they
could effect other improvements on their prop
erty.
BANKING UPON THE WEALTH or MOTHER
NATURE
But half the value of his land was advanced to
tile real head Of the family I'm notes which ClrCu-
lated as money With these notes he could hire
labor and purchase Implements Of huSbandryand
acre could be cleared, cultivated and stocked In
year, ten would, by the assistance Of the paper
money advanced, be reclaimed from the forest
and rendered productive.
Thus hope entered the dwelling Of the poor
emigTant. Ten years found him with the whole
Oi his debt 10 the government discharged, the
proprietor Of happy home; and the Kind hand
Of paternal government was stretched out stlll
10 advance TO him again One-hali OF the Increased
value OF his land, and thus enable him tO clear
more Of the forest aud to settle his children In
new homes Such was the system by which a
people called by the British ~ set Of miserable
OutCasts" were converted In q short space Of
Onsts.
A prosperous people are generally well satls-
fed with the form Of government under which
they live. When, In 1870, Benjamin Franklin
was examined before committee Ol the whole
house Of commons, he was asked, "what was the
temper Of America toward Great Britain before
i7732" He answered "The best I'm the world
! mt. IL. -.