THE PHARMACEUTICAL JOURNAL. 
SECOND SERIES. 
YOL. IX.—No. III.—SEPTEMBER, 1867. 
THE OBJECTS AND EFEECTS OF TRADE ASSOCIATION. 
Half a century ago, the principle of association, as applied for the purpose 
of advancing the interests of commerce and supporting those engaged in trade 
against the exercise of arbitrary authority or despotic power, seemed to be 
dying a natural death. The ancient guilds, which in the middle ages exercised 
so important an influence in establishing the social freedom and political im¬ 
portance of trading communities throughout this and other European countries, 
having accomplished the objects for which they were established, were suffering 
under symptoms of superannuation, and struggling to maintain their former 
influence by the exercise of acquired privileges, which they often applied inju¬ 
diciously in obstructing the freedom of trade. 
These guilds, with their exclusive privileges, have nearly disappeared, restric¬ 
tions on trade have been almost wholly abolished, and free-trade principles have 
been accepted as essential elements of modern political economy. But while 
this change has been taking place, and the old system of trade restrictions has 
been dying out, new associations have sprung into life. Associations have been 
established among those who live by labour, and whose knowledge and skill in 
manual work constitute their only capital. These associations have a similar 
object to that of the old trade guilds, and they will probably attain to similar 
results ; but they are purely voluntary associations, and have no authority from 
Parliament. Some doubts may exist with reference to the good effects of such 
associations, but there are others the tendency of which is never questioned. 
Thus, for instance, in the cultivation of art and science, objects are attained by 
association which separate individual exertions would fail to accomplish, and it 
is in this direction especially that in modern days a great extension has taken 
place in the application and influence of association. All great undertakings 
are now carried out by companies and clubs and societies. The objects of some 
of these are directed to the advancement of trade interests, but the means by 
which such objects are attained differ from those formerly adopted,—are less 
arbitrary, and more in accordance with free-trade principles. 
That which contributes most to the general good,—that is, to the good of the 
community at large, and not merely of some particular section of it,—is the 
only legitimate aim of legislation. It may be that the advancement of the in¬ 
terests of a class may contribute to the welfare of the community' of which that 
class forms a part; but if this ultimate good is not the probable result of a 
proposed measure, it cannot be justified upon any sound principles of poli¬ 
tical economy. 
Art and science and commerce are channels through which human intellect 
contributes to the advancement of human happiness, but the intellect thus exer¬ 
cised requires to be cultivated and trained to the pursuit of the desired objects. 
VOL. IX. H 
