Doe. No. 75. 



51 



trade has been looked upon as the principal agent in the aggrandize- 

 ment of nations. The wisdom of a government, it is generally main- 

 tained, is never so clearly indicated as when it has no other object in 

 view except to promote th€ common good^, more strictly speaking, how- 

 ever, we should say, that a government only becomes identified with the 

 pnbhc interest when, instead of wasting time in discussing schemes of 

 national prosperity5 without a definite object, it applies itself in earnest to 

 clevise means for facilitating the development of the internal resources 

 of th-e country^ and the exportation of the products of agriculture and of 

 industry. 



In former timeS;, virhen the science of political economy was almost un- 

 known, an opinion prevailed that, in order to encourage agriculture and 

 iindustry, restrictive laws were^ to a certain extent, indispensable ; yet, if 

 these laws — the offering of ignorance, and destructive of liberty and just 

 equality — are found to have contributed at any time to build up the for- 

 tune of a few favored individuals, they must be pronounced as having al- 

 ways been unjust and arbitrary — as absolute obstacles created by the 

 hand of man himself in order to thwart the progress of every branch of 

 productive labor; for they have destroyed competition, which is the 

 natural and most efficacious stimulus that can be given towards per- 

 fecting the works of human industry. 



While the erroneous doctrine of restrictive laws prevailed both in 

 England and in the United States, where political liberty was at the same 

 time esrabiished as a social dogma and the foundation of all government, a 

 desperate struggle was carried on for many years between the natural 

 impulses of that liberty and the obstacles erected under the pretext of pro- 

 tection. As soon as the development of a more enlightened policy per- 

 mitted those impulses to have free scope, they progressed gradually in 

 achieving partial triumphs, and each year has witnessed the abolishment 

 of some of those restrictions which an unwise and obsolete policy had 

 accumulated for the purpose of protecting industry. 



Under the administration of the celebrated George Canning, a most 

 important change took place in the sentiments of the British government, 

 owing to the profound sagacity of that wise minister. In spite of the 

 errors and prejudices with which the popular mind was still imbued on 

 this subject, Canning advocated the adoption of a system far more fair 

 and liberal; through his efforts were abolished those laws prohibiting the 

 importation of certain articles from foreign countries which were manu- 

 factured at home, hut which could not compete in quality with those im- 

 ported. The effect produced by this first effort of enlightened policy was 

 to stimulate competition, and consequently to improve Enghsh fabrics, 

 which, owing to the existence of prohibitory laws, had long remained 

 stationary. The false prophets who had prognosticated the ruin of the 

 country were shamefully belied by the results. Since that time, no pro- 

 hibitory laws have been established; while those that were still in exist- 

 ence have, by a skilful management and prudence, either been gradually 

 modified or entirely abolished. Ancient evils are apt to create habits and 

 interests which cannot be eradicated at once, without causing mischief. 

 The salutary influence of the English policy made itself felt in the United 

 States in the year 1832, by giving rise to the famous tariff controversy 

 which originated in South Carolina. This tariff was based upon that 

 system which imposed additional taxation upon certain articles manufac- 



