A BRIEF EXAMINATION OF FREE-TRADE PRINCirLES 295 



to-day, it is certain that he -vvould not force his principles on 

 the people to their detriment so zealously as do liis followers. 



He might, moreover, say to us — "My life's work was 

 intended rather to enunciate a princi])le than to establish a law, 

 and as it is certain that nothini^f of human creation is immutable, 

 so must everything born of human effort be liable to change. 

 The science of economics should, therefore, be regarded as the 

 pursuit of knowledge rather than the laying down of an un- 

 changeable law ; and if it be found that its teachings are 

 inapplicable to the requirements of modern life, then this fact 

 affords but another example of how fmitc arc man's efforts and 

 how fallible is his nature." 



" Mutatis Mutandis " 



He might then say : " I laboured hard to give to my 

 country, and to the world generally, a system of economics 

 which I know to be better than the prevailing mercantilism 

 which I sought to overthrow, but if in the fulness of time it be 

 found that, owing to the jealousy of nations, the conflicting 

 interests of individuals, and the innumerable obstacles whicli 

 bar the way to international Free-trade, my system becomes 

 impracticable of application, then it would be the quintessence 

 of human folly to persist in ap})lying it." He might further 

 add : " Nor did I attempt to prove that my system was 

 infallible, and that it should be rigidly followed to the detri- 

 ment of individual or national interests. My magnum ojms 

 was only intended to point the way ; and as everything human 

 is liable to constant change, so must every man who gives to 

 the world a new scheme write after it — nuitati'i mutandis ! " 



There was nothing narrow, mean or sordid about Adam 

 Smith; his life was perhaps as exemplary as his work was 

 great and noble, and he gave to the world the best that he or 

 any man can give — himself ; and whatever may be the ultimate 

 result of the present reactionary movement, no man will be 

 foolish enough to cast a stone at the memory of the great 

 economist and philosopher. 



This view of the case, however, appeals not at all to Free- 

 traders, because to admit speculativeness in Adam Smith's 

 " Wealth of Nations " would be to acknowledge the immature- 

 ness of his deductions, and this \\'ould have been altogether 

 fatal to the formation of Free-trade principles. At any rate 

 the Free-trade movement s})vang out of this famous maxim, 

 among others, of Adam Smith, and to-day it is represented by 

 a powerful Free-trade party. On the other hand, there is a 

 powerful party, bitterly antagonistic to this party, and a battle 

 is impending. 



