The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-08-18

thing. and regarded life a. q series Of argu-
ments. In which people vers TO be con-
strained by logic. not persuaded by sym
pathy. In a word. he was q man little
likely TO win the hearts Of his followers,
though his remarkable yigor OF mind dom
mated their Understandings. Al the samc
time. Mr.. stephen would acknowledge
that Mills great qualities ought not To
by a manner which seemed almost DELHI.
erately ~repcllent. He devoted himself
through life tn promote the acceptance
Of tho truth as he saw Il. to increase the
scanty amounts Of pleasures enjoyed by
mankind and TO discharge all the duties
which he owed TO his neIghbors. Beyond
dispute, he succeeded In presenting forci-
bly, one set Of views which profoundly In
huenced his ntryme and the very
narrownes Of his intellect enabled him To
plant his blows more effectively.
~.
Let US turn from James Mill himself
10 some 81 the other conspicuous Utilita-
rians who belonged To the same generation.
David Ricardo. who. a. we have seen. was
introduced to Min In isii. was born ON tbs
18th Of April. i7T2. lie was the son 81 a
Dutch Jew who had settled In England.
and who had made money upon the stock
Exchange. Ricardo received a desultory
education. and was employed In business
from HE boyhood. He abandoned his
fathers creed. and married In English
woman soon after reaching his majority
lie then set up for himself and. a. II was
q time when financial tnnsactions upon
nm un-precedented seal. were giving
grea, opportunities for speculation ""
made a large fortune. and about 1914
bought an estate At Gatcombe Park'
Glouc.s,.rshira soon afterward he with
drew from business. Hts death on Sept.
n. 1879. cut short a political career from
which his friends expected great results
Meanwhile his influence within his own
department % inquiry had been OF the
greatest Importance. He had shown IN
his youth some inclination for Scien-
tiAc pursuits. had established a lab
oratory. and had become a menu
Ter OF scientific societies. The perlsd
OF Adam Smiths Wealth Of Nations IN
1880 gave Ricardo an interest In the ap-
plica,ion Of scientific methods To the qu'--
,ions with which he was most converSant
Accepting Adam Smith a. the leading
authority on political economy. he pro-
c~nded To think out for himself certain
doctrines which appeared to him To have
been nsufic.ntly recognized by his teacher
The first outcome 81 his meditattons was
a pamphlet published In 1909 upon the
depreciation 81 the currency. Upon that
topic he spoke a. an expert, and his main
doct rines were accepted by q Parliamentary
committee. Ricardo thus became him
self a recognized authority on one great
set 81 problems q the highest immediate
Interest, Malihus's Inquiry into Rent
suggested another pamphlet, and IN 1917
Ricardo published his chief book, III"
Principles Of Political Economy and
Taxation THIS became the economic
Bihie 81 he Utilitarian-. -. said D-nthan
was the spiritual father of Mill. ar.d MIL
IN. spiritual father Of Ricardo As a
matter 81 fact. james Mill Vas the di-cipl"
Of Ricardo In economics. n was the former
who Induced the latter tu publish his prin-
cipal work. and Mills own treatise upon
the subject, brought out ia 1920. was sub
stantially an exposition Of hicardo's doc
trines IL was Mill. too. that encouraged
his friend 20 take a sea, in Parliament,
where. for the short remainder OF his life,
Ricardo defended the characteristic lul-
itarian principles with the authority de-
rived from his reputation a. an econ
omi-t
II l. we'll known that Ricardo worked
out the main outlines 81 the : Classical
Political Economy the system which 10
his disciples appeared To be as clear, con
ststent and demonstrable ~ Euclid. and
which was denounced hy their opponents
a. mechanical. matrriali-tic, fataliStic and
degrading After rriumphing for a season.
the system has lecn Of late years often
treated with contempt. and sometimes han
ishei To the lml,o nf extinct logomachie-,
II IL condemned ~ abstract, though
there could he No. greater d-lusion than the
Relief tina, 1t was wholly abstract and un-
practical II merits la" In It's treatment
Of certain special questions Of Ricardo's
day. Will. ss To purely scientific questions
It was hopclcssly confused and incon-
sl-,ent MIR stephen would say Of the
Ricardian doctrines that they may la re-
garded a. approximations. which only
require qualifications, though sometimes
very important qualifications. TO hold good
Of the society contemplated, that Ia to say.
the Society which Ricardo saw around
him In the England Of the first quarter OF
tho nineternth century. The doctrines
we're a. all events true enough to supply
conclusive answers To many popular fall
lacies then current. The arguments for
the old mercantile theory for -protec-
ton : 81 industry, for the poor law. for
rt~l~tlnk INC INTRODUCTION VI "e'hh'iNs !
the lear 81 = glu's : and all manner Of doc
trineS about the currency. were exposed
by th. Rioardians upon the right grounds.
II was absurd to suppose that 10y simply
expanding the currency. or by making
industry less efficient. or forcing n TO tho
least profitable employm-nts. you in
crease the national wealth II Is no less
absurd 10 overlook the demoralizing effect
Of an assumed right to support because YOU
are resolved To see only the immediate
benefits ot charity TO individuals II Is
true. no doubt. that In some cases there
might he other things 20 be considered,
and ;hs; the classical economists were apt
10 take a narrow view ~ the facts. Yet
they deci-ively exploded man bad argu-
menis and ,hev did IL by the right method
90 enforcing the necessity Of tracing out
a whole series 81 results, II was partly
TO their success in COMPUTING absurd doc
,rincS that, their ~nfdcn was due. but
the confidence was excessive when u was
transfer q To the axiom from which they
profes~.d TO start
The Ricardians constructed n kind 81
which fairly represented the