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There is perhaps no part of the wide range of 

 subjects embraced by the term Political Economy, 

 that is more difficult to define than what are called 

 the functions of Government. So vexed a question 

 is tiiis, that though all may assent to the general 

 and broad principles on which other parts of the 

 system are based, on this point hardly two 

 persons will be found to think exactly alike. There 

 are two doctrines, however, which though each 

 admits, within itself, of many shades of opinion 

 regarding details, may be said to form rallying 

 points for two great schools of Economists. The 

 disciples of the one, advocate the interference of 

 Government in the business affairs of the people, 

 on the ground that it tends to advance the 

 material progress of a nation. Those of the other 

 approve the laisser-faire principle, and consider 

 the interference of Government a mischief, and the 

 greatest hinderance to a nation's progress. The for- 

 mer principle is adopted for the most part by the con- 

 tinential nations of Europe; the latter finds favor, 

 and is often stretched to the extreme limit, in 

 Great Britain. Possibly it is the experience afford- 

 ed by the working of the opposite principle, in 

 nations where the interference of Government has 

 not always been exerted for the good of the people, 

 that has rendered Englishmen so inveterate against 

 the doctrines of that school, as to lean to the 

 opinion, that if Government interferes with the 



