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THE following pages speak of Pract: nomy. The expression might seem ticular department of what is called i or else a special application of its tru the term in either of these senses. I Political Economy itself. The word solely in contradistinction to what ma tific Political Economy. It is inten mode of treatment which not only a be scientific, but which supposes the method to be a mistake. It implies knowledge, summed up under the Economy, belongs entirely to the e of human life.
Political Economy finds processes world over to the satisfaction of the life in the matter of wealth. It doe: discover them. It does not announc developments of geometry or the g physical science, as new discoveries prebut now revealed by the applicatio reasoning. The ordinary instincts o
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tudies them, discerns intellectually in bout this little and vitality consist, explains them
thi me standings of common men, and performs or usb service of clearing them from that admixture of 10, Luth of thought and action, which insinuates itself 1to cvery department of human existence. But when these processes have been thus explained, and rescued from that evil and indestructible weed, false theory, they are seen to be practices which multitudes of men of all ages of the world have carried out with a full perception that they were the right thing to do. They did not owe them to Political Economy, though Political Economy has strengthened the insight into their rightness, and has saved them from the invasion of arbitrary and erroneous ideas. Indeed it may be almost doubted whether Political Economy ever would have been born, had not the selfishness and folly of men and nations crushed the instinctive impulses of human nature. If the mercantile theory and protection had not weighed heavily on the common sense of mankind, there might have been a Political Economy of the closet or of sociology and for how much would it have counted amongst the nations ?-a Political Economy for the people would never, probably, have been constructed.
If this conception of Political Economy be correct, it will be perceived at once that its value lies in its being understood by the mass of men. Here is its true field of action and influence. Its aim is to make common sense the supreme ruler of industry and trade. The test of a true Political Economy is that its teaching, its