NOTE.

All the reasonings of this work on European society, are based on the statu quo of its condition before the convulsions of 1848. It must be seen that these recent and current events are not sufficiently ripe to be used as materials in a work of this kind.

CONTENTS.

CHAPTER I.-PRELIMINARY REMARKS....

..... PAGE 17

The Task attempted in this Work-The Doctrine of Free Trade Economists not a Sci-

ence. This false Pretension a stolen Shield.-On common Ground. Free-Trade Econ-

omists have done some Good.-This Work a System for the United States-The New

Features of this Work not Novelties-The proper Functious of Hypothesis.-Free-

Trade Economists have made an unjustifiable Use of Hypothesis.-It leads to no Result.

-Mill's, Compte's, Newton's. and Reid's Views of Hypothesis-Reasons for the lim

ited Scope of this Work-Reasons for changing the Name of the General Subject.—

Politics and Political Economy.-The Comprehensiveness of this Work, and the Unity

of its Plan.

CHAPTER II.-THE NEW POINTS OF THIS WORK...
.... PAGE 26

What is meant by these New Points.-The First: Definition of the General Subject.—

Importance and Influence of Definitions-Public Economy not heretofore reduced to a

Science. The Definition here given of the Subject is consistent with a Science.-It res-

cues the Subject from an embarrassed Condition-The Free-Trade Theory composed of

uniform Propositions.-The Exact Sciences-All Sciences, when fully constructed, are

necessarily exact.-Science appertains to all Subjects-The Science of Sociology, as

announced by M. Compte, in an imperfect State.-John Stuart Mill's Definition of Sci-

ence. Why the Science of Sociology Imperfect.-Mr. Mill, a Free-Trader by Sym-

pathy, has demolished the Theory by Logic.-Citations of a remarkable Character from

Mr. Mill. What they prove.-Private and Public Economy compared.-Napoleon on

this Subject-Common Principles in Systems fundamentally different.-How our Defi-

nition affects the General Argument.--Empirical Laws defined -Public Economy, down

to this Time, lies scattered over the Field of Empirical Laws, and has not been reduced

to a Science.-The Free Trade Hypothesis belongs to a Category of Empirical Laws

incapable of being reduced to a Science -The recognised Canous of Experimental In-

duction, as laid down by Logicians, fully sustain the Claims of Protection against those

of Free Trade-The Formation of the Science of Public Economy is yet in Abeyance

to some skilful and competent Hand.-A Science can not be made out of the Laws of

Public Economy, except for one Nation, each by Itself.-The true Position of Labor—

Labor robbed of its Rights by a False Position in Public Economy.-Protective Duties

not Taxes in the United States, but a Rescue from Foreign Taxation.-How Public

Economy is affected by different States of Society.-New Points in regard to Money

and a Monetary System.-The Reasons for Free Trade, with the People, are Reasons

for Protection-All desire the same Thing.-The Destiny of Freedom not yet achieved.

-The Protective Principle identical with that of the American Revolution.-Free Trade

in Great Britain not based on Science, but on Public Policy.-Rise and Progress of the

Free Trade Theory-Definition of Freedom.-An American System of a Peculiar Char-

acter.-Free Trade identical with Anarchy-Protection can never be dispensed with,

in any supposable Perfection of American Arts -Agricultural Labor and Products in

the Guise of Manufactures.-Not two Kinds of Economy.

CHAPTER III.-MEANING OF FREE TRADE.....

••••••• PAGE 60

The domestic Origin of the popular Application of the Terms, Free Trade.-Their Ad-

Captandum Features.-The Unfairness of taking Advantage of these Features.-The

true Meaning of Free Trade, directly the Opposite of what is commonly supposed.--Jus-

tice on the Side of Protection.-Free Trade, to be Just, requires that all Nations should

be one Family.-Universal Free Trade would create one great Central Power, at the

Expense of all the Rest.-Weak Powers can only be defended against the Strong by a

Protective System.-The Free-Trade Millennium an Absurdity.-Expensive and Cheap

Organizations of Society, as they affect this Question.-American Instincts on the Rights

of Labor. The Objections to Protection are the Reasons for It-The Free Trade of

Adam Smith not the Free Trade of the Present Time.

CHAPTER IV.-FREE TRADE A LICENSE FOR DEPREDATION ON THE RIGHTS OF

OTHERS..

PAGE 69

This a New Position.-It is based on the Principle of Anarchy-The Essence of Free

Trade is a Plea for no Law over an important and wide Domain of Interests-Defini-

tion of this Domain.-Nations are Commonwealths, and may be vulnerable or injurious,

in their Relations to each other, the same as Private Individuals in each.-The Defensive

of Man's Position, in all Circumstances, requires most Care, and costs Most.-Time only,

and protracted Experiment, will determine the relative Merits of Free Trade and a Pro-

tective System.-The Point of Vulnerability in the United States, opened by Free Trade.

-The great Problem one of Figures and Quantities, that can be worked out.-The

Negative Losses occasioned to Individuals and to the Country, by Free Trade, though

Real and Serious, not easily ascertained.-More and greater Interests at Stake, on the

Ground proposed to be given up to Anarchy by Free Trade. than anywhere else.-The

Hen and Chickens and Hawk, are like Nations and Free Trade.-How this Anarchy of

Free Trade operates.—It is real Anarchy quo ad hoc, opening a vast Field for Depre-

dation.-Free Trade is the Sway of the Will of the Individual, as opposed to that of

Society. The Principle of Free Trade everywhere at Work for Depredation.-Free

Trade not equally Fair for both Sides-Great Britain not for Free Trade.-An important

Confession of a Member of Sir Robert Peel's Government.-The Absurdity of making

Laws for the less important Sphere, and doing without Law in the most important-

The Charge of Free Trade against Protection, falls back on Itself, in precisely the same

Form.-Under Free Trade we are forced to buy, in the Form of Manufactures, the same

Things which we produce, while our Products perish on Hand-Answer to Objections

to the Theory of this Chapter.-Free Trade operates, through a second Party, to injure

a third Party, and the Scope of this Influence takes in whole Nations, as Subjects of its

Depredations.

CHAPTER V.- REASONS OF THE RISE AND PROGRESS OF THE THEORY OF

FREE TRADE......

......

PAGE 87

The Prevalence of Free Trade makes a Problem.-The Rules by which it is to be solved.

-British Writers and Literature on this Subject.-The Free-Trade Epoch.-British

Legislation for Protection, and the Effect of this Policy for a Century previous to Adam

Smith-Treatment of the American Colonies under the Crown.-Its Inconsistency with

Free Trade.-Free Trade in Great Britain a State Policy, not a General Principle.-

Adam Smith employed by the British Government to write his Book.-His Inconsistency

and Self Contradiction.-Examples-The chief Aim of Adam Smith, was to reconcile

the American Colonies to Injustice.-Free Trade a British Instinct and Selfish-M·Cul-

loch's Betrayal of British Policy.-The Authority of British Writers on Free Trade.-

Their Authority in our Schools, and in forming the Minds of our Statesmen.-Obsequious-

ness and Servility of American Free Trade Economists-Free Trade a one-legged

Science. Born in the Closet.-British Free Trade Writers Employées of the British

Government.-History of Free Trade as a Party Question in the United States.-Its

Prevalence here owing to Social Position and Obsequiousness.--Instincts of the Ameri-

can People in Favor of Protection.-Free Trade can not be the permanent Policy of the

United States.

CHAPTER VI.-GREAT BRITAIN THE ONLY NATION THAT IS PREPARED FOR

FREE TRADE, AND THE UNITED STATES THE LAST THAT CAN AFFORD IT. PAGE 100

The Importance of Position, in all Competition, illustrated by familiar Examples.-Adam

Smith's Illustration.-The Tribe or Nation that is ahead in Manufactures, can keep ahead,

by Free Trade.-The first Lessons on Protection to Great Britain.-The Way of her

Beginning, and its Results.-It was by this System that she was able to triumph over

Napoleon. Great Britain was Poor when she began her Protective System.-Behold

the Consequences.-Great Britain always consults the Parties interested in Protection,

and complies with their Wishes-Not so the United States.-A remarkable Example of

turning Witnesses out of Court.-British Manufacturers, from the Strength of their Posi-

tion, have consented to dispense with Protection.-M'Gregor's Evidence and Advice to

the British Government.-M.Culloch's Confession.-Action of the States of Europe. after

the Overthrow of Napoleon, in Favor of Free Trade.-Their Repentance.-Repent-

ance of Russia-Manifesto of Count Nesselrode.-The Zoll Verein Treaty.-Napoleon's

Policy. The Policy of the European Continental Nations against Great Britain, defen-

sive-The greater Cost of Money and Labor in the United States an insuperable Bar

to Free Trade.-The Weak, not the Strong, require Protection.-British Free Trade,

not Free Trade.-British Differential Duties retained.-Effect of Commercial Treaties.

-The Whole Truth in few Words.

CHAPTER VII.-FREEDOM CONSISTS IN THE ENJOYMENT OF COMMERCIAL

RIGHTS, AND IN THE INDEPENDENT CONTROL OF COMMERCIAL VALUES FAIRLY

ACQUIRED.

...... PAGE 114

The Novelty and Importance of this Proposition, a Reason for giving it an early Place in

this Work-What is Meant by it.-Definition of Commercial Rights and Values.-

Liberty not synonymous with Freedom.-Rights as distinguished from Liberty-Free-

dom, not an Abstraction, but a Reality.-Is a definable Substance.-The Objects of

Despotism of every kind, even Spiritual, are Commercial Values.-All Religious Privi-

leges are Secured and Fortified by Commercial Values.-Freedom requires, that all

Taxes should be Voluntary, by a Representative Voice.-Otherwise they are an Ex-

tortion, and not Freedom.-" Voting Supplies."-The British Government more imme-

diately under the Control of Popular Freedom than that of the United States.-The

Mexican War an Example-Many things are called Freedom which are only its Acci-

dents and Results-A reasonable Man will be contented with Freedom as here de-

fined.--A Man's Commercial Rights includes his Chances in the Future.-The Blood

of Martyrs shed on Account of Commercial Values.-The Test of the Principle con-
tended for.

CHAPTER VIII.-WHAT CAUSED THE AMERICAN REVOLUTION.

THE PROTECTIVE POLICY IN THE UNITED STATES....

HISTORY OF

••••• PAGE 126

A Restatement of the Object of this Work, and of the great Error of the Economists.-The

Theme of this Chapter important as a Starting Point in the General Argument. - The

Instinctive Policy of a Parent State toward Remote Dependencies, fatal to the End in

View.-Such was the Policy of Great Britain toward her North American Colonies.--A

Review of that Policy.-The Doctrines of Joshua Gee.-Their Influence on Parliament

and the Board of Trade.-Acts of Opposition and Wrong Provoked the Revolution.—

Declaration of Independence.-Commercial Values, as the Fruits of Labor, the Occasion

of the Contest.-The Position of the Free-Trade Economists as to the Elements of this

Controversy. They were forced to justify Wrong.-The Wrong a Commercial one.—

The Aim of the Revolution was to break down the Old, and to establish a New System

of Public Economy, that is, a Protective System.-The Struggle was based on the Prin-

ciple of Mine and Thine, as it determines Commercial Rights-A Protective System of

Society the great Object in this Country from the First.-The great Movement from

Europe to America was and is for this.-The Confederation a Rope of Sand.-A Pro-

tective System the great Object of the Federal Constitution.-One of the first Acts of

the new Congress was to establish a Protective System.-Documentary Evidence for

Fifty Years, that Protection was the Uniform Policy of the Country.-The Cause of

Apostacy from this Ancient Faith.