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in the Clerk's Office of the District Court of the United States, in and for the Southern District of New York.

STEREOTYPED BY REDFIELD & SAVAGE,

13 Chambers Street, N. Y.

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.

J

15 OC 61

CONTENTS.

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

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 is 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 Canons of Experimental İn-

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.

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.

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