Loading ...PREFACE
THE principles of the following Work have appeared in former publications, but are more fully developed in this. Those publications have not been generally read, but were not, perhaps, without their effect. They at least have furnished the sub-stratum of more than one popular essay: if any writings on subjects of Political Economy can be called popular.
With the writings of the modern political economists, this work has nothing in common. However much the author may admire the talents and ingenuity which have been displayed by Messrs Ricardo, Mill, Tooke, Torrens, and M’Culloch, he is compelled to dissent from the chief part of their doctrines. Indeed it would hardly be fair to stop at them. The science of political economy was corrupted at its fountain head, and all which can be said is, that they have not freed it from its corruptions. Dr Adam Smith, in his Wealth of Nations, throws much light upon political science, but more darkness ; and his errors and obscurities unfortunately have reference to the most important parts of his subject. The Wealth of Nations is a work, notwithstanding, of great genius ; the best proof of which is, that men of genius have adopted its errors, and reasoned upon them as unquestionable truths.
Had Dr Smith never written, it would have been better for the science. The French economists had discovered the important truth, that the produce of land forms the basis of wealth. But in their hands the value of the principle was destroyed by the use they made of it. Had it not been for Dr Smith, subsequent writers would have had one sound general principle to start from, and with the aid of experience, would have been able to arrive at more just conclusions. The Wealth of Nations, however, came like an ignisfatuus, to mislead the future economist into bogs and quagmires, where he finds it in vain to tempt the man of plain but solid sense to follow him.
Since Dr Smith’s time, consequently, not any light has been thrown upon the subject, at all proportioned to the attention which it has received. Mai thus on Population, and the pamphlet of Ricardo, entitled, ” The high Price of Bullion a Proof of the Depreciation of Bank Notes,” together with the Report of the Bullion Committee to which that pamphlet gave rise, are the only works that have contributed in any material degree to enlarge the boundaries of the science. The former, perhaps, is the only perfect work on political economy that ever was published ; and its principles have been the guide of legislation on subjects connected with population ever since it appeared. The latter revived a doctrine of Dr Smith’s, but revived it with all its errors ; and was chiefly important from its connection with the events to which it referred, and the discussions to which it gave rise.
At the same time that the author is convinced more correct views on the subject of political economy are much required, he neither has the requisite qualifications nor the leisure necessary to become the founder of a new system. He may, nevertheless, contribute his mite towards the formation of one. Rome was not built in a day. Before the master mind appears, that has to give order, consistency, and beauty to the fabric, there must be useful drudges who will hew out the rude materials, and help to clear away the rubbish. One of these humble instruments, the author will be very glad if he happen to prove.
The best test of any principles must be found in their application to practice ; and to this test those suggested in the following work are applied in an attempt to analyze the merits of the corn bill of 1827, and the measures of 1826 with regard to the currency.
It will be seen that while the author finds reason to approve of the corn bill, he considers the repeal of the act for the withdrawal of the small notes from circulation to be absolutely necessary. How far his views on this latter subject may be correct, must be left to the determination of the reader. But he thinks it proper to mention, that when the act was passed, he saw no objection to it. His present opinions are the result of subsequent reflection. He was under the gallery of the House of Commons, and heard the whole of the debate upon it when it was proposed ; and had he been a member, would no doubt have voted in its favour.
To stile and manner, and even to great correctness, the author makes no pretension. Perspicuity has been his chief object. It may likewise be proper to mention, that the work was written and printed in the country ; and was for convenience printed as it was written. If his views, therefore, on any particular point happened to enlarge or receive any modification in the progress of the work, he had no opportunity of altering what he had previously said. It was also commenced last August with the intention of having it published by Christmas ; but the author was prevented by circumstances from attending to it for two or three months. It has, in consequence, been quite as much hurried as such a work ought to be. All these considerations the good-natured reader will be pleased to remember and make allowances for.
Please Activate the Full Screen Mode for Better Viewing Pleasure (2nd button from the left)
LINK
EMBED
Related posts:
- Articles On Banking And Currency From The Economist Newspaper By Thomas Joplin INTRODUCTORY OBSERVATIONS. Several members of the Joint-Stock Bank Association having...
- The Advantages of the Proposed National Bank of England by Thomas Joplin The invention of Banking; to assist and enlarge the commerce...
- An Analysis and History of the Currency Question by T. Joplin People frequently act in haste, and repent at leisure. In...
- An Essay on the General Principles and Present Practice of Banking by T JOPLIN ESSAY ON BANKING BANKS are by far the most important...
- A Treatise on Currency and Banking by Condy Raguet PREFACE. THE suspension of specie payments by all the banks...
Store Fleet