318 
The Political Economist. — No. II. [Nov, 1 
ditions that must be realized in order 
to the welfare and happiness of every 
country, and the want of which is 
the real source of our distress. Over¬ 
produce may certainly result from other 
causes ; strikingly evidenced since the 
peace in America, and most of the agri¬ 
cultural districts in Europe, where it 
has taken place without it. Much 
waste, and artificial consumption, hav¬ 
ing ceased with the war, the unbounded 
scope for speculative demand, and real 
demand ceased with it. Hence, the 
distresses in which those countries have 
been involved. So, indeed, would it 
have been in our own, as it regards the 
produce of the soil, the injury resulting 
from machinery out of the question, 
only not to the existing extent , and 
for the following reasons-From the 
immense waste inclosing within the 
last 30 years, and more so from the 
practical improvements in agriculture 
since that period; whence produce from 
the same land may safely be affirmed to 
have increased fourfold. In many dis¬ 
tricts it has doubled within the last 
fifty years. Consulting the necessary 
documents, farming, even before this, 
upon an average never admitted of un¬ 
reasonable remuneration, proving that 
natural means always have been ade¬ 
quate to supply, without the aid of 
artificial powers. The misuse of ma¬ 
chinery is so strongly deprecated, be¬ 
cause from its capacity of unlimited pro¬ 
duction, (a consequence which does not 
apply to the soil) it is unavoidably cal¬ 
culated to perpetuate the evils of which 
we complain. Were there no other ad¬ 
vantage to be derived from the regula¬ 
tions proposed, the beneficial employ 
that would thence result to all who 
need it, were of itself a sufficient rea¬ 
son for their adoption. The spinning 
of the country alone would then advan¬ 
tageously occupy every now superflu¬ 
ous hand. An actual demand for la¬ 
bourers ensuing, fair wages both would 
and could be given ; and thus our poor 
rates, so alarmingly an increasing evil, 
would soon be reduced to reasonable 
and just limits. 
The speciousness of the artificial 
system at its commencement is not 
denied : but when we consider the in¬ 
extricable ruin in which it has eventu¬ 
ally involved us, it will at least be de¬ 
precated by every reflecting mind. At 
first, undoubtedly our foreign trade 
was benefitted by the prevalent ap¬ 
plication of machinery, materially 
expediting production, and lowering 
the cost of commodities. It enabled us 
successfully to compete with foreigners, 
and our trade was thereby carried to 
an extent before unknown; much time 
too was necessarily spent in bringing a 
power so colossal into full play ; and in 
the interim considerable profit accrued. 
No sooner, however, had it arrived at 
maturity, than the supply exceeding 
the demand, the illusion of way future 
benefit from the system vanished at 
once and for ever. The golden age 
over, we did not ourselves kill the bird 
in return for the golden produce it had 
afforded us, but , totally exhausted , it 
died of itself. 
How direful the result of this tem¬ 
porary and artificial flourish of our 
trade! What determined the com¬ 
mencement of the late unjust and ruin¬ 
ous war, but our thus augmented re¬ 
sources, as they were called. Thirty 
millions of additional permanen t taxes 
is a part only of the bitter portion we 
have thence inherited: a proportionate 
increase in the scale of the public ex¬ 
penditure having been coupled with it. 
Happily our foreign trade, even at 
its highest reach, exceeded not one 
fourth of our commerce, and which 
were it now greater, might hencefor¬ 
ward be safely dispensed with, since 
it never can again become permanently 
advantageous. The benefit supposed 
to be derived from it to the revenue, is 
altogether too fallacious; the fact being 
undeniable, that for years past, the 
losses of the merchants, manufacturers, 
and traders, have alone been the source 
whence it has been supplied; and such, 
until the present unnatural system be 
abandoned, must ever continue to be 
the case. The artificial system has 
practically failed, both as a source of 
profit to the trader, and as a support to 
the revenue. Long ere the termina¬ 
tion of the late war, under the specious 
name of a property and income tax, a 
proportion of the real property of every 
possessor was taken. Now, had not 
the system been of temporary benefit 
only, hollow and deceptive, so vio¬ 
lent an expedient need not have been 
resorted to. The extension of our trade, 
and of our foreign trade more particu¬ 
larly, has been made the pretext for 
many of our wars; fifty millions of per¬ 
manent taxes are the inglorious result. 
England, Is still a great nation, and 
has resources within her own domi¬ 
nions to enable her to continue so 
without leaning upon foreign aids of 
any kind for support; which if she 
does, 
