as regards the monopoly of land, high prices occasion high rents, and not high rents high prices. Hence the interest of our overgrown aristocracy, in maintaining the corn-laws, becomes as clear as day. The staff of life, which might be procured in the Baltic ports for thirty or forty per cent less than it costs here, can only be obtained, through the operation of protective duties, at that enormous artificial price which the landed leviathans have contrived to impose, in order that their present oppressive rentals may be upheld. That the farmer gains nothing by the corn-laws is abundantly evident. The high price of produce yields him no benefit in the long run, because, on renewing his lease, the landlord will demand as rent, whatever surplus profit that high price may afford above the profits of other occupations. Proprietors indeed gull their uninformed cultivators with glozing speeches, and after-dinner toasts, about the corn-laws being the essence and core of agricultural prosperity; but the whole juggle is just such a process as we hear of in the voyages of Sinbad the sailor, when he describes the diamond-merchants. These people threw down pieces of meat into a dangerous and inaccessible valley, strewed with precious stones, which of course adhered to the morsels falling upon them. Eagles from the neighbouring cliffs then pounced upon the flesh, and carried it off to their nests for their young ones; but the merchants, watching their opportunity, drove away the birds, rifled every airie they could reach, and appropriated the jewels for their pains. No doubt, could the eagles have remonstrated, they would have been assured that their robbers were their very best friends! Protection has always struck us as being a gilded name, covering more processes of plunder and iniquity than almost any other word with which we are acquainted. Yet if the farmer gains nothing by the monopoly, so neither does the labourer. Both are neither more nor less than the geese maintained and deluded for the special benefit of an oligarchy, whose heart is still feudal, whatever its professions may be; whose real political creed is, that the eggs and feathers of all other bipeds belong to their lordships and laird'ships' by divine right; that, in fact,

The little villains must submit to fate,

That great ones may enjoy the world in state!'

It can be demonstrated, that wages do not rise and fall in due proportion to the price of corn. Labourers were frightened, indeed, on a recent occasion, into an opposite belief, through want of knowing better. The truth, nevertheless, flows out at last, that their condition has become worse, instead of having improved, since the enactment of the corn-laws. Landlords are

the solitary gainers; and they only in the sense of grasping an immediate benefit, at the expense of present wastefulness and ultimate ruin. Could prodigals ever be taught practical wisdom,

they would soon see that selfishness is the permanent enemy to self, as the bargain gets older; that all its compacts are made upon satanic principles; that the victim surrenders substance for a shadow, just as the dairymaid gives her shilling to a fortuneteller, or as the sinner sells his soul to the devil. Landed proprietors are in the same boat, together with their tenantry who hold the farms; with their serfs, who water the soil with the sweat of their brow; with their great customers, our manufacturing millions; as well as with all the wives and children in the three kingdoms. By a juggle of long standing, they have contrived to appropriate an undue share of the provisions; or (which comes to the same point) they have been able to impose an unfair price upon the greatest necessary of life. Let them, therefore, come to a proper adjustment, before the company of those who sail with them shall have lost altogether their temper, and so resolve in some evil hour to throw them overboard. The best arbitrators between them and the community at large will be the political economists.

With regard to the Profits of Stock, our author considers that their rate depends on the relation of the supply of capital to the known profitable uses, to which there are the means of applying it; and that the consequent degree of productiveness of the last created, and least advantageously occupied portion, has not been hitherto recognized as it should have been, except in the lectures of Doctor Longfield. The criterion of national prosperity must be sought for in the gross production, which the capital and labour of a country together present; which production is entirely distinct from that share of the produce which goes to the capitalist, and constitutes the rate of his profit. In proceeding to analyze the rewards of labour, he first glances at them in the aggregate, showing that they depend on the productiveness of industry; on the relative magnitude of the shares which, in the distribution of the gross produce, fall under the heads of rent and profits; and on the adjustment of labour being more or less favorably arranged, so as that there may be a supply of commodities in precise proportion to the demand for them. He then touches upon inequality in the rewards of different kinds of labor; on those of learned and scientific exertion; on those derived or received by masters and adventurers; and, lastly, on those of our operative classes. He truly observes,

The opinions that are held on the circumstances which determine wages, whether right or wrong, are never inoperative. The mighty interests involved cause them to be always in action, either for good or evil. These opinions exercise a powerful influence on the prosperity, as well as on the peace and happiness of society. If just, they may lead to the introduction of such measures, as may contribute in a high degree to advance public wealth, and the interest of the poor; at the same time that they may tend to the satisfaction of the masters, and

the content of the men, by showing that wages are really determined by natural circumstances, of too powerful a character to be much influenced either by legislative enactments, or by any attempts or combinations of masters or men. On the other hand, erroneous views on these points may frustrate the best concerted measures for the public good. Turbulent men may take advantage of such errors to inflame the passions of a misguided populace, by representing the lowness of their wages, and the poverty of their condition, as owing to corruptions of the state, or to wicked combinations of employers, taking advantage of their ignorance or necessities to impose unequal terms upon them, in order to enrich themselves. Such errors may disturb the public peace, may lead to the destruction of property, and to drying up the sources of national prosperity; or, if not carried to this extent, they may lead to the regulating of wages by law, or by combinations amongst workmen. But the regulation of wages by law, or combinations, though it may do incalculable mischief, can seldom do any good. It may secure to the labourer from his employer that just remuneration for his toil, to which natural circumstances entitle him; but it is impossible for such regulation, by any direct act, to increase the fund for the payment of wages. It may effect a partition of that fund, different from what would take place, if left entirely free; but as much as it may add to the wages of one class, it must diminish from that which is really due to another, and from what that other would receive, if not so prevented.'-Vol. ii. pp. 127,-8.

Mr. Eisdell, in his third book, takes up the subject of consumption, in the sense of its being synonymous with use. And here we cannot fail to be struck with all those traces of divine contrivance visible throughout the whole frame-work of society. Instead of consumption leading to destruction, or annihilation, the very reverse ensues. The consumers themselves are the producers; and the satisfaction, so to speak, of every human necessity, from pole to pole, is but casting seed into the earth to spring up again into the more and more overflowing harvest of almighty and infinite benevolence. Winter and summer, day and night, the motions of the heavenly bodies, together with all the demands and supplies of man, maintain sweet and perpetual proportions one with another; proclaiming, so that even he that runs may read, that God is the founder of families, appointing unto each nation its dwelling-place. In that dwelling-place people must be, and are fed, clothed, lodged, and favoured, according to their circumstances. Opulent, intelligent, and industrious nations are greater consumers than poor ones; but then they are incomparably greater producers. The well-being and happiness, however, both of individuals and societies, depend much upon the mode of their consumption. Wise expenditure will, of course, aim at the largest amount of enjoyment consistent with reason, the prospect of continuance, and general prosperity. It is observable, too, that although individuals may sometimes save to their injury, nations can never do it. Magnum vectigal est parsimonia! So

ciety never dying, nor being responsible to a future judgment in its aggregate capacity, may reap enormous benefits from accumulation, where there exists sufficient intelligence to employ its property aright. Such wealth becomes a fountain of civilization, -a prosperous bank of capital,-a magazine, whence fresh machinery may be constantly derived to push forward the work of re-production. Luxury, indeed, waits upon this state of things, with a legion of evils in her train, ready to corrupt individuals, and so through them infuse a leprosy into the community. Yet an era will come, when a degree of religion and consequent virtue shall so prevail, that probably the tendencies of mere civil improvement may take an upward direction altogether; when the wealth of nations may be possessed by nations almost without alloy ex necessitate rerum. Even now, perhaps, too much has been made by former political economists of the difference between productive and unproductive consumers. A gentleman, engaged in pursuits most important to the commonwealth, may keep a man-servant, whom Adam Smith would have termed an unproductive labourer; yet in this instance, according to Mr. Eisdell, the services rendered by the valet relieve his master from performing them himself, and therefore set free a greater portion of his time to be devoted to the important business. It is hard and difficult to say there is nothing in this, we think; but when, instead of keeping a footman for purposes of necessity, there are a dozen or a score kept for purposes of ostentation, then indeed the distinction re-appears in hideous dimensions. We in our conscience believe, that the expenditure of revenue, by an aristocracy generally, is the circulation by Mammon and Belial of the wages of slothfulness and iniquity, amidst consequences which angels only can fully discern, whilst piety or patriotism in vain bewails them.

case.

In arguing against luxurious consumption, our author puts the question, as to what would be the consequences to society were no desire to exist amongst our species for any articles except such as are plain, cheap, and useful? He answers, that the effect would be a mere change of employment. Instead of lace, brocades, and finery, on the persons of a few, more feet would be shod, more ancles invested in socks or stockings, more linen, broad cloth, and gloves would be manufactured than is now the But there would be no want of work arising from this change of tastes, but rather the reverse. The world is the gift of God to mankind, and they are bound to use it for the sustentation and happiness of the greatest possible number. Frugality and simplicity of manners would conduce more towards these objects than extravagance, which is the hot-bed of vice and profligacy. They constitute, in fact, what is called economy, that is to say, the direction of expenditure with judgment and discretion. A prudent man balances his means against the present or future

6

wants of himself and family. He never consumes without an object equivalent to the money about to be laid out. Such economy affords riches with a moderate fortune; while the miser and prodigal are alike poor, though in possession of the largest resources. Hence plain habits would augment immensely that fund set apart for purchasing the useful productions of labour and since no one will go without shoes and hose who can help it, the knights of St. Crispin and the stocking-loom must grow, in the case supposed, just as sleek and comely as our jewellers and silversmiths have been for several generations. Mr. Say declares, that the gold buckles of the rich man leave the poor one ' without even a sandal; and the labourer will want a shirt to his back, while his rich neighbour glitters in velvet and embroidery. It is vain to resist the nature of things. Magnificence may do what it will to keep poverty out of sight, yet it will cross it at every turn, still haunting, as if to reproach it for its excesses. This contrast was to be met with at Versailles, at Rome, at 'Madrid, and at every seat of royal residence.' Our author adds, that on the other hand, in countries where private fortunes are smaller, and luxury less prevalent, the degree of misery is less also. The prayer of Agur, Give me neither poverty nor riches,' may serve as a model to individuals; yet such is the desire for accumulation, that it becomes a question of interest to ascertain by what means the property of a nation may be increased, or what are the circumstances most favourable to its accumulation. These, as already intimated, are those which contribute to the success of industry, and those which are adverse to wastefulness and misconduct. Extraordinary convulsions of nature, such as earthquakes, storms, landslips and inundations, unsuccessful commercial enterprizes, despotic governments, oppressive taxation, insecurity of property, legal impediments, a rigid distinction of ranks, and above all things, war, operate, of course, as so many checks and restraints :

Unfortunately for the people, princes are usually surrounded by persons who have an interest in the lavish expenditure of public money. Holding emoluments derived from the public purse, or seeking for them, their interest is not merely to be liberally, but extravagantly paid. To such persons we owe the invention and propagation of arguments to prove that magnificence and profuse expenditure are conducive to public prosperity; and that taxation, although necessary, so far from being an evil, is beneficial to the state, and promotes the increase of national prosperity and wealth.'-vol. ii. p. 303.

This subject, however, brings us to the fourth and last book, on taxation. He dwells upon its effects, the parties upon whom it ultimately falls, on the rules for its apportionment, on their application as regards the expense of protection, and according to the benefits derived from government, on taxes directly affecting property, on indirect taxation, on its arrangements with respect to