216 PROCEEDINGS OF THE AMERICAN ACADEMY, 



tion of mutual benefit actuating each transaction ; nevertheless, the motive 

 of trade is a purely metaphysical perception of the fact that by an ex- 

 change of material things the work of sustaining material life is lessened. 



The next fact which requires no further proof is the admitted fact that 

 general moral welfare is only consistent with general material welfare. 

 The essential wants of men must be supplied as a condition precedent to 

 the development of moral faculties. It is of no use to preach to men 

 with empty stomachs. 



In the support of material existence, or in dealing with the products 

 on which material life depends, and in treating the exchanges of these 

 products by which general welfare is assured, we then find the three fun- 

 damental principles of a science governing the actions of men : the mate- 

 rial, the metaphysical, and the ethical. Such is the trinity of trade. 



As I have said, if there are no principles or rules governing human 

 action in the supply of human wants on which a science can be based, it 

 would follow that material existence rests wholly upon what we call 

 chance. But is there any such thing as chance in the universe ? If 

 order prevails in the supply of the wants of men, then have we not the 

 basis of a science ? 



Another admitted fact that requires no further proof is, that all men 

 make a demand upon the means of existence, and all men must be sup- 

 plied with food, — most men with clothing and shelter. Where shelter 

 and clothing require no effort, mankind remains in the animal stage until 

 aroused by trade. Society has recognized the right of this demand, and 

 furnishes the supply of shelter, food, and clothing to the incapable, but to 

 no others, except in exchange for. some service rendered. Again, is it not 

 true that all that any man can get out of material products or things are 

 food, clothing, and shelter ? What more does the rich man consume ? 

 what less will suffice for the poor man ? The cost of the capitalist is what 

 he consumes ; his service is what he adds by his ability to the general 

 product. Yet this science, applied to the supply of wants and dealing 

 wholly with material subsistence and with physical conditions, is, as I have 

 said, a purely metaphysical science. The motive which actuates commerce 

 is personal benefit, — a purely intellectual conception. Apparently that is 

 a selfish motive, yet every exchange implies, of necessity, two parties in 

 every transaction. Each is governed by the same motive, to wit, his 

 own benefit. It follows as a scientific demonstration that all commerce is, 

 to use a bad modern phrase, altruistic, whether those who conduct it are 

 conscious of the fact or not. It may not be uniformly beneficial, but is yet 

 altruistic. The demand of the ignorant man may be for something that 



