Principles of Social and Political Economy, Or, The Laws of the Creation and ... - William Atkinson - Google Cărți

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On the practical treatment of the science of Political Economy by modern

statesmen. Reformation of the national commercial code commenced by

British statesmen. - Selection of Mr. Huskisson as a leading advocate in

Parliament for conducting this reformation. — Examination of Mr. Hus-

kisson's policy and course commenced

Examination of Mr. Huskisson's parliamentary course continued.
kisson shown to have advocated and supported contrary and opposite prin-
ciples and courses. Instances adduced

--

188

Further examination of Mr. Huskisson's course.

- Professedly an advocate of

the free principle of trade, this statesman makes strenuous efforts to restrain

Parliament from advancing too far on this free course. The feature of

an apprehension of too much free action shown to have prevailed with this

statesman to the end of his parliamentary career

-

Examination of the Parliamentary treatment of commercial principle and policy

continued. Extraordinary course adopted by Sir Robert Peel. How this

statesman contrived to abandon all reliance upon conviction and principle,

and to adopt expediency instead of them

Introduction of Mr. Francis Horner into the House of Commons as a man

specially conversant with the science of Political Economy. Reliance on

the scientific attainments of this statesman shown by the selection of him to

manage in Parliament the difficult subject of the currency. Mr. F. Horner

Chairman of the Bullion Committee. - The celebrated Report of this Com-

mittee. Mr. Horner's simple and honest description of the quality and

character of this Report. — Mr. Horner's premature decline and death.

Another Political Economist, Mr. C. Poulett Thomson, chosen to succeed

Description of Mr. C. Poulett Thomson's education and introduction into

life given by his brother and biographer, Mr. Poulett Scrope. He fails

to become a successful merchant. He is selected for presiding over the

mercantile affairs of the nation. — In a hasty manner he attempts to learn

from Mr. Bentham that which is called Political Economy. He undertakes

to argue in Parliament the immense and difficult question of Usury

Important evidence, showing the treatment to which the science of Political

Economy has been subjected, supplied by the memoirs of Mr. Francis

Horner. History of the studies of this statesman in the province of Political

Economy, contributed by himself. - His researches into, and attempts to

understand, Adam Smith's "Wealth of Nations."- Mr. Horner announces

his discovery that Adam Smith had not been able to elucidate the cause of

value. A remarkable judgment delivered by Mr. Horner on the defective

and deluding character of Adam Smith's views and reasonings on Political

Treatment of the Science of Political Economy by Mr. Cobden.-This states-

man declares his entire satisfaction with the manner in which the science

has been treated by Adam Smith, Ricardo, and the other schoolmen. - He

declares also that no further investigation being necessary, the people have

nothing more to do than to accept the doctrines, and to advance unhesita-

tingly on the courses, recommended by these writers. More evidence sup-

plied by Mr. Senior and Mr. J. Stuart Mill.Declaration of these writers

that little progress has yet been made towards elucidating the science

The test of moral truth applied to the principles and system of the Political

Economists. Their principles and system fail under this test

СНАР. Х.

Treatment of the moral branch of the subject by Paley. This writer shown to

have sacrificed moral truth under an attempt to unite with the school of

Economic writers in upholding the supremacy of material enjoyment. — Con-

sistency evinced by Mr. M'Culloch. This writer, having, with Adam

Smith and the other schoolmen, maintained covetousness to be the best social

incentive, found himself to be under the necessity of contending, and hence

has contended, that the miser is the best citizen, because he, of all members of

a community, accumulates the largest amount of capital
286

The character of the science of Social and Political Economy declared. - The

primitive condition of man considered and explained.—Human labour or-

dained to be the instrument by which all material things for human main-

tenance are to be acquired.—The first simple premises of the science advanced

and established

The origin of property shown by an elucidation of the cause of value.-Pro-

perty not to be constituted without the influence and intervention of the

moral law of the Christian religion

Treatment of the subject by Locke. This writer shown to have discerned

clearly the power assigned to labour; but not to have discerned clearly the

social principle and course by which value is constituted.- Aggregate value

and not aggregate production, the main characteristic of the science

The competitive principle of commerce examined.

It is shown to be adverse

to the prosperity of nations, and destructive of the general interests of man-

A new law introduced into the science of Social and Political Economy, the

law of definite proportions. The creation of value and of wealth determined

by this law. The necessity for this law discerned by Locke, Adam Smith,

and Malthus, but its character not comprehended by them

The law of proportions further developed. The necessity for a division of

mankind into separate nations shown

Contrast drawn between the free principle and system of commerce in which

no law of proportion has place, and that principle and system in which the

law of definite proportions constitutes the main characteristic

Remarkable illustration by Shakspeare of the social and universal character of

the law of proportions. - Special treatment of the law of proportions con-

cluded
Page 398

Further reasoning on the course of exchange or trade by which the cause of

value is constituted.-Erroneous view of this subject entertained by modern

Political Economists

The question of abandoning a home trade and adopting a foreign trade in its

place tried. The capitals or aggregate wealth of nations diminished by the

The true and the false principle of general commerce tested by the application

to them of an extreme proposition. The constant operation of the law of

union shown to be necessitated

The amount of change and improvements of nations determined and limited by

that increase of capital called profit

СНАР. ХІІІ.

The true principle of production shown to operate through capital in pos-

session, constituting cost, and to eventuate in profit. The only increase to

the capital of an individual, or to the aggregate capital of a nation, that

which comes in the form of profit -

Absentee expenditure considered. - The course shown to involve an infraction

of the social law by which property is constituted. The truth elicited by

this question shown to explode and destroy the free principle of commerce,

and, with it, the prevailing system of Political Economy

Remedial course of social action considered. - Equality of wealth not possible

or desirable. The invented and proposed systems of Socialism and Com-

munism falsely-founded and injurious systems. — Remedy for the great evil

of poverty and destitution to be attained only by the adoption of the natural

law of Social Economy. - The proposal of enriching a nation by saving or

retrenching, a false and wrong proposal. The socialistic and communistic

idea a noble idea in itself. The true principle and course ensuring remedy

to be derived from religion only

Remedy for a bad national social condition not to be derived by means of

laws regulating and restraining commerce; but by means of the religious

and moral principles of the people. - Natural remedial course of action

comprehended in a more just and moderate application of national ca-

On social sacrifice. - The indispensability of this principle shown. - Lord

Bacon's philosophy and example adduced and commented on. He is shown

to have argued that all knowledge and social philosophy are to be derived

from religion only

On the exclusion of religion from the science of Political Economy. - Mention

made of this important feature by the Prince Consort on the occasion of pre-

siding at a meeting of the Conference on National Education - The new

philosophy of Auguste Comte.- -The declaration of this writer, that his

system of positive philosophy is to supersede revealed religion. The weak

and false character of this philosophy adverted to

The idea of uniting together all the people of the earth by means of free com-

merce, a false idea. The constructors of the prevailing system of Political

Economy shown to have been under the necessity of excluding religion, be-

cause of the falseness of their social principles. The methods of reasoning

by synthesis and analysis contrasted. The former the clear and strong;

the latter, the confused and weak method. -The latter method, that only

which the school of writers on Political Economy could attain

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