INDEX.

The numbers refer to the paragraphs.

• Abolition, 8
• Act, the tariff, of 1883, 24
• Africa, 92
• Agitation, 154
• Agriculture, 101
• Alabama, 71
• Alchemist, 3, 11
• Alchemy, 9
• Algeria, 78
• Alphabet, 69
• American, 18, 32
• American, the Philadelphia, 12
• Art of national prosperity, 1, 5, 7, 148
• Art of political economy, 141
• Art of production, 145
• Arts, 56, 75, 120
• Artisans, 75, 94, 121
• Assumptions, 3, 9. 21, 31, 32, 147
• Astrology, 9
• Atlantic, 74
• Atlantic States, 66
• Army, 145
• Australia, 71, 92, 116

• Balance of trade, 2
• Bastiat, 137
• Bateman, 53
• Belgium, 53
• Berlin, 79
• Biscuit, 81
• Bismarck, 77
• Bonaparte, Napoleon, 85
• Book-keepers, 102
• Boot-man, 48, 49
• Boot-straps, 47, 151
• Bounties, 2, 79, 80, 81, 84
• Bradstreet's, 26, 79
• Bread, 75
• Brewing, 81
• Bridgetown, 83
• Broderick, G. C., 53
• Burden, 29, 101
• Bureau of Agriculture, 117

• Cables, ocean, 75
• Cairnes, J. E., 140
• Calamities, 26, 46
• California, 116
• Cameron, Sen., 83
• Cambridge, 141
• Campaign, political, 26, 58, 132
• Campaign, anti-corn-law, 150
• Campaign, against taxation, 155
• Canada, 71, 129
• Canal, 86. 88
• Capital, 10, 12. 13, 21, 35, 38–40, 43, 57, 91, 97, 133, 148
• Cattle, 37
• Caoutchouc, 67
• Census, 52, 57, 103
• Century, eighteenth, 1
• Century, nineteenth, 6
• Character, national, 53
• Charles II., 33
• Chastisement, 137
• Chili, 89
• China, 67, 69, 127
• Church, 8, 39, 40
• Edition: current; Page: [168] Circle, squaring the. 152
• City-landlord, 75
• Civil liberty, 155
• Civilization, 69, 70, 127
• Class, non-capitalist. 2
• Clay, 37
• Climate, 37, 53
• Cloth, 42, 51
• Cloth-man, 48, 49
• Coal, 32, 33, 53, 71, 116, 123
• Coal-owner, 33
• Cobden. 91
• Coercion, 38
• Coin, 69
• Colonies, 77
• Combinations, 139
• Comfort, see Standard of
• Commerce, 85, 89, 101
• Commission, tariff, 24, 81, 130
• Commission, South American, 89
• Committee, Congressional, 15, 103
• Committee, of Conference, 24
• Compass, 69
• Competition, 100, 107, 121, 132, 137
• Confectionery, 81
• Congo, 86
• Congress, 15, 21, 23–26. 33, 47, 58, 83, 89, 129, 133
• Connecticut. 38, 94, 118
• Consuls, 104
• Consumer, 14, 32. 33, 111, 140, 145
• Consuming industries, 41
• Consumption of sugar, 79
• Contrivance, 3, 141
• Convention. wool-growers', 32
• Convention, Home Industry, 74
• Copper, 33, 45, 123
• Corn-laws, 101
• Cosmopolitanism, 86
• Cotton, 37, 51, 71, 116, 134
• Cotton, yarn, 154
• Cottons, 32
• Credit, 153
• Cuba, 67, 83
• Cunningham, 114. 134, 140
• Custom-houses, 12

• Debate, 89
• Debt, 153
• Decisions, tariff, 27
• Definition, 14, 148
• Definition, of an industry, 36
• Definition, of a protective tax, 12, 13
• Definition, of free trade, 8, 12
• Definition, of protectionism, 7
• Definition, of theory, 7
• Demand, 91
• Democracy, 92
• Demoralization, 139
• Device, 1, 2, 6, 7, 14. 19, 20, 83, 96, 106
• Diplomacy, 86, 87, 88, 89
• Discipline, 137
• Disease, industrial, 133
• Distilling, 81
• Distress, 21
• Diversification, 116, 125
• Dividend, 119, 123
• Dogma, 1, 5, 11, 26
• Dollars, 38, 60
• Drawback, 79, 83
• Duties, import, 12, 24

• Economist, So, 81, 84, 146, 154
• Economists, historical, 140
• Education, 93
• Emancipation, 8
• Emery, 33, 45
• Emigration, 2, 6, 65, 77
• Employer, 48, 49, 50, 65, 95, 98, 104
• Employment, 35
• Energy, conservation of, 16
• Engineers, 105
• England, 12, 53, 67, 71, 74, 79, 83, 85, 99, 101, 105, 134, 106
• Edition: current; Page: [169] Europe, 96, 105
• Excise, 12, 79
• Expenditure, 30, 153
• Experiment, 26
• Exports, 122, 134
• Exports, bounties on, 2
• Exports, taxes on, 6

• Factory, 39, 41
• Farm, Farming, 44, 53, 95
• Favors, special, by treat, 89
• Fire, 52, 73
• Fire-engine, 73
• Foreigners, 14, 15, 83, 141, 144, 146, 152
• Fortifications, 145
• France, 53, 67, 75, 78, 134
• Free soil, 8, 154
• Free trade, 7, 8, 10, 12, 21, 52, 54, 114, 123, 130, 131, 154

• Gambling-houses, 139
• Germany, 53, 74, 77, 79, 80, 105, 134
• Glacial epoch, 68
• Gold, 116
• Government, good, 29, 31
• Grant, Gen'l, 33
• Grasshoppers, 44
• Greeley, Horace, 117
• Gunpowder, 69

• Hamilton, Alex., 109
• Hancock, 26
• Harbors, 53
• Hard times, 26, 153, 155
• Hat-man, 48, 49
• tildes, 71
• History, 5
• Hod-carriers, 96
• Honduras, 67
• Honesty, value of, 131
• Humanitarianism, 86
• Hydrocephalus, 109

• Ideals, 1, 3, 58
• Illinois, 71
• Immigrants, Immigration, 60, 105, 121, 122
• Imports, 2, 6, 14
• Impracticability of protection, 130
• Improvements, 90, 133
• Industry, 14, 34–43, 79, 82, 123, 125
• Independence, national, 127
• India, 18
• Infants, 109, 111
• Insane-asylum, 39
• Insurance, 107
• Interest, rate of, 66
• Inter-Ocean, 71, 95
• Investigation, sugar, 81
• Iowa, 95
• Ireland, 18, 60
• Irishman, 60
• Iron, 32, 44, 46, 71, 103, 107, 123, 125
• Iron Association, 95
• -Ism, 10

• Jam, 81
• Japan, 69, 73, 127
• Jefferson. 71
• Journal des Economistes, 75. 110

• Kansas, 154

• Labor, Laborer, 10, 13, 21, 38, 51, 57 65, 71, 90, 91–98 133.
• Labor, pauper, 44, 47, 51, 75, 99, 148
• Laissez-faire, 5, 154
• Land, 53, 57, 91, 92–98, 117, 118
• Latitude, 64
• Law, 13, 94
• Laws, criminal, 2
• Laws, navigation, 2
• Edition: current; Page: [170] Laws, poor, 2
• Leather, 37
• Legislation, 11, 12, 24, 152
• Legislator, 11, 54, 75
• Lehigh Valley, 33
• Liberty, 5, 8
• Library, 30
• Lincoln, 154
• London, 74
• Longitude, 64
• “Lords of Industry,” 139
• Louisiana. 83
• Lowell, 71
• Lumber. 71
• Lyons, 154

• Machinery, 2. 6, 90, 104
• Magic, 15, 149, 151
• Mahogany, 67
• Maine, 71
• Manchester, 71
• Manitoba, 71
• Manufactures, 101, 114, 115, 117, 118
• Margin of cultivation, 120
• Marine engines, 75
• Market, the home, 18, 83, 86
• Market, the world's, 18, 116
• Market, the foreign, 83
• Market, the labor, 92
• Massachusetts, 71
• Market Bay, 94
• Materials, raw, 2, 83
• Mexico, 71
• Mill, John, Stuart, 110, 140
• Mineral waters, 81
• Mining, 44
• Minnesota, 71
• Miseducation, 139
• Missionaries, 89
• Mississippi Valley, 66, 71, 137
• Missouri, 71
• Monopoly, 2, 74, 111, 113, 121, 128, 120, 139. 145, 146
• Money, 112, 140
• Monkeys, 150
• Morals, 136
• Mumbo Jumbo, 15

• Nation, 1
• Nation, an inferior, 67
• Nation, a strong, 116, 134
• Nationalism, 71
• Navigation laws, 2
• Navy, 2, 15, 86, 87, 88, 145
• New Brunswick, 71
• New England, 32, 114
• New Orleans, 71
• New York. 74, 96
• New Zealand, 84
• Newspapers, 7
• Nickel, 33, 45, 129
• Non-government, 4
• North America. 71
• North American Review, 139
• Nova Scotia, 71
• Nuisance, 42

• Ohio, 32
• Oil, 116
• Ore, 37, 53
• Overproduction, 111

• Panacea, 152,
• Paper-money, 20
• Parasite, 39
• Paris, 75
• Parks, 30
• Passport, 8, 122
• Paterson, 71
• Paupers, 140
• Peasant-proprietor, 53
• Pennsylvania, 32, 44
• Pensioners, 140
• Perpetual motion, 11
• Physician, 21
• Pigeons, 150
• Plunder, 17
• Policy, vigorous foreign, 86, 87
• Edition: current; Page: [171] Political economy, 8, 10, 11, 140
• Poor-houses, 99
• Population, 53, 54, 77, 92, 117, 118, 123
• Pork, 77
• Porter, R. P., 21
• Post, N. Y. Evening, 78
• Potatoes, 71
• Prices, 2, 111, 112, 140
• Primitive men, 68
• Princes, 140
• Prison, 39
• Producer, 14, 140, 145
• Product, mode of alienating, 17
• Production, 10, 95
• Production, cost of, 83
• Profit, 22, 107
• Proletariat, 92
• Prosperity, national, 1, 6, 7, 9, 10, 11, 15, 21, 24, 25, 31, 32, 33, 52, 53, 54, 61, 102, 115, 148, 153
• Purchasing power, 60

• Railroad, 119
• Razor, 67
• Refiners and refining of sugar, 80, 81, 82
• Reformation, the Protestant, 8
• Rent, 120
• Reporter, Barbados Agricultural, 83
• Resource, natural, 44, 45, 46
• Revenue, 12, 14, 153
• Richmond, Duke of, 33
• Robbery, 17

• Sandwich Islands, 84
• Santa Maria, 89
• Savings, 30
• School, 11, 39, 40
• School of politcal science, 152
• Seminary, theological, 89
• Sheffield, 71
• Ships, 75, 89
• Ship-building, 2, 69, 86, 87, 88
• Sidgwick, Prof., 141, 142
• Silk, 37, 67, 142, 145, 154
• Silver coinage, 155
• Sinecurists, 140
• Sisyphus, 137
• Skating-rinks, 139
• Slavery, 8, 55, 155
• Smoke nuisance, 139
• “Snakes,” 11
• Socialism, 106
• Social science, 20
• Society, human, 1, 3
• Sociology, 5, 6
• Soothsaying, 9
• South America, 67, 71
• Soudan, 150
• Spain, 83
• Specie, importation of,
• St. Gothard, 74
• St. Louis, 32
• Standard of comfort, 30, 52, 59, 60, 61, 101, 148
• Standard of gain, 89
• State, 3, 4, 5, 8, 106, 107, 110
• State in the Union, 71
• Statesmanship, 5, 11, 76
• Statesman, 1, 5, 38, 44, 75, 85, 86
• Statistics, 52, 102, 117
• Steel, 103, 124
• Stewart, A. T., 134
• Stone, the philosopher's, 9, 15, 152
• Struggle for existence, 106
• Subsidies, 75
• Suburbs, 75
• Sugar, 67, 79–85
• Superstition, 133
• Surplus revenue, 153
• System, colonial, 2, 78
• System, credit, 133
• System, protective, 27, 32, 48
• Edition: current; Page: [172] System, wages, 92
• Swindlers, 140

• Tariff, 15, 18, 48, 83, 96, 97, 105, 116, 122
• Taussig, F. W., 24, 152
• Tax, 14, 15, 17
• Taxation, 29, 75, 151, 155
• Tax-gatherer, 59
• Taxes, 1, 11, 29, 31, 48, 75, 87, 98, 101, 133
• Taxes, on exports, 2, 6
• Taxes, on imports, 2, 6, 12
• Taxes, protective, 7, 9, 10, 12, 13, 14, 35, 47, 48, 61, 111, 112, 118, 120, 135, 137, 146, 151
• Tax-payers, 140
• Tea, 67
• Telephone, 37
• Texas, 71
• Theorist, 7
• Theory, 7, 8, 9, 10, 130
• Thread, 129
• Times, N. Y., 32, 89
• Tin, 45
• Trade, 63–72, 125, 128, 134
• Trades, the building, 96
• Trade, carrying, 2, 86, 87, 88
• Trains, 122
• Transportation, 74, 75, 91
• Treasury, 14, 27, 71
• Treaty, commercial, 83–89
• Trial and failure, 9, 11
• Tribune, N. Y., 117
• Tribute, 17, 32, 118, 146, 149, 151
• Turkey, 18
• Turn-pike, 74
• Tyne, 33
• Types, 69

• United States, 8, 52, 67, 71 75, 89, 101, 105, 214, 123, 129, 133, 151
• Units, 71

• Vegetables, 87
• Victims of the tariff, 10, 155
• Victims of fraud, 140

• Wages, 2, 26, 35, 47, 48, 49 65, 91–105, 122
• Wages-class, 48, 49, 92, 93
• War, 87, 89, 132, 151
• War, commercial, 132
• Washington, city of, 22, 44, 47, 89
• Waste, 31, 43, 46, 62, 148, 153, 155
• Wealth (see Prosperity), 43
• Weights and measures, 69
• Westminster Review, 150
• Wheat, 44, 51, 71, 75, 77, 116, 125, 134
• Winthrop, 94
• Wishes, good, 59
• West Virginia, 45
• Wool, 32, 37, 69, 71, 123
• Wool growers, 32
• Woolen-mill, 42
• Woolen-operative, 51
• Work, 35, 71, 125, 137
• Working-man, 47
• Work-shops, public, 107, 126
• Wright, Carroll, 104

• Young country, 110, 134

*

February 4, 1884, Mr. Robinson of New York proposed, in the House of Representatives, an amendment to the Constitution, so as to allow Congress to lay an export duty on cotton for the encouragement of home manufactures. (Record. 862).

*

Philadelphia American, August 7, 1884.

*

Taussig “History of the Existing Tariff, 78 fg.

*

The wool growers held a convention at St. Louis May 28, 1885, at which they estimated their loss by the reduction of the tax on wool in 1883, or the difference between what they got by this tax before that date and after, at ninety million dollars (N. Y. Times, May 29). If that sum is what they lost, it is what the consumers gained. They are very angry, and will not vote for any one who will not help to re-subject the consumers to this tribute to them.

*

Broderick, English Land and English Landlords, p 194.

*

Since the above was in type, I have, for the first time, seen an argument from a protectionist, that a tariff between our States is, or may become, desirable. It is from the Chicago Inter-Ocean, and marks the extreme limit reached, up to this time, by protectionist fanaticism and folly, although it is thoroughly consistent, and fairly lays bare the spirit and essence of protectionism:

“In the United States the present ominous and over-shadowing strike in the iron trade, by which from 75,000 to 100,000 men have been thrown out of work, is an incisive example of the tendency of this country, also to a condition of trade which will compel individual states and certain sections of the country to ask for legislation, in order to protect them against the cheaper labor and superior natural advantage of others” The remedy for the harm done by taxes on our foreign trade is to lay some on our domestic trade. (See § 26, 95.)

*

Since the above was in type, a treasury order has subjected all goods from Canada to the same taxes as imported goods, although they may be going from Minnesota to England. Nature has made man too well off. The inhabitants of North America will not simply use their chances, but they divide into two artificial bodies so as to try to harm each other. Millions are spent to cut an isthmus where nature has left one, and millions more to set up a tax-barrier where nature has made a highway.

*

62 Niles's Register, 132.

*

Journal des Economistes, March, 1885, page 496.

*

Paris correspondent of the New York Evening Post, February 9. 1884.

*

Economist, Commercial Review, 1884, p. 15.

†

The Vienna correspondent of the Economist writes, June 15, 1885, “The representatives of the sugar trade addressed a petition to the Finance Minister, asking, above all things, that the premium on export should be retained, without which, they say, they can not continue to exist, and which is granted in all countries where beet root sugar is manufactured.”

*

Bradstreet's, July 25, 1885.

*

Economist, 1884, p. 1052.

*

A friend has sent me a report (Barbados Agricultural Reporter, April 24, 1885), of an indignation meeting at Bridgetown to protest, because the English Government refused to ratify the commercial treaty with the United States. The islanders feel the competition of the “bounty-fed” sugar in the English market; a new complication, a new mischief.

*

Economist, Commercial Supplement, Feb. 14, 1885, p. 7.

*

Since the above was in type, a report from the “South American Commission” has been received and published. This Commission submitted certain propositions to the President of Chili on behalf of the United States. The report says:

“The second proposition involved the idea of a reciprocal commercial treaty between the two countries under which special products of each should be admitted free of duty into the other when carried under the flag of either nation. This did not meet with any greater favor with President Santa Maria, who was not disposed to make reciprocity treaties. His people were at liberty to sell where they could get the best prices and buy where goods were the cheapest. In his opinion commerce was not aided by commercial treaties, and Chili neither asked from nor gave to other nations especial favors. Trade would regulate itself, and there was no advantage in trying to divert it in one direction or the other. So far aa the United States was concerned, there could be very little trade with Chili, owing to the fact that the products of the two countries were almost identical. Chili produced very little that we wanted, and although there were many indu>trial products of the United States that were used in Chili, the merchants of the latter country must be allowed to buy where they sold and where they could trade to the greatest advantage. With reference to the provision that reduced duties should be allowed only upon goods carried in Chilian or American vessels, he said that Chili did not want any such means to encourage her commerce: her ports were open to all the vessels of the world upon an equality, and none should have especial privileges.”—(N. Y. Times, July 3, 1885.)

If this is a fair specimen of the political and economic enlightenment which prevails at the other end of the American Continent, it is a great pity that the “Commission” is not a great deal larger. They are like the illiterate missionaries who found themselves unawares in a theological seminary We would do well to send our whole Congress out there.

*

This is the case for which the Inter-Ocean proposed the remedy described § 71 note.

*

I except those of Mr. Carroll Wright. He has sufficiently stated of how slight value his are.

*

Bk. V., ch. 10, § 1.

†

It has been developed mathematically by a French mathematician (Journal des Economistes, Aug. and Sept., 1873, pp. 285 and 464). Let a be the mean annual loss by the tax so long as it lasts in order to start the industry. Let b be the mean annual gain by the industry after it is started. Let x be the years that the tax is to last. The losses and gains must be capitalized at their present worth. The present worth of the losses is the sum of the series, The present worth of the gains forever is the sum of the infinite series, Putting one of these sums equal to the other we get

In this expression let r be six percent., give various values to x, and derive the ratio . It then appears that, if the tax lasts five years, the mean annual gains forever must be one-third of the mean annual losse: in order that there may be neither gain nor loss from the experiment. If the tax lasts ten years the gains forever must be 80 per cent of the losses for that period; 25 years, 329 per cent; 100 years, 33,900 per cent.

*

See a fallacy under this head: Cunningham, Growth of English Industry, 410. note.

*

IMMIGRATION IN 1884

	Males.	Females.	Total
Professional occupations...	2,184	100	2,284
Skilled occupations ......	50,905	4,156	55,061
Occupations not stated .....	19.778	11,887	31,665
No occupation ............	75,483	169,904	245,387
Miscellaneous occupations	160,159	24,036	184,195
Total .........	308,509	210,083	518,592
Under miscellaneous were 106,478 laborers and 42,050 farmers.

*

See a fallacy under this point: Cunningham, Growth of English Industry, 410 note.

*

See an interesting collection of illustrations in an article on “Lords of Industry” in the North American Review for June, 1884. The futile criticisms at the end of the article do not affect the value of the facts collected.

*

Cunningham, Growth of English Industry and Commerce, 316, note 2. (See also§§ 114, 134.)

*

Mill's Political Economy, bk. 1, ch. 5, § 5. Cairnes, Leading Principles, chap. 1, § 5.

†

Political Economy, 491–2.

*

I published a criticism of this case in the London Economist, Dec. 1, 1883.

*

Quoted by Taussig: History of the Existing Tariff, 73.

*

Illustrations of this are presented without number. Here is the most recent one. “The [silk] masters [of Lyons, France], look to the government for relief by a reduction of the duty on cotton yarn, or the right to import all numbers duty free for export after manufacture. With the present tariffs, they maintained, which is no doubt true, that they cannot compete with the Swiss and German makers. But the Rouen cotton spinners oppose the demand of the Lyons silk manufacturers, and protest that they will be ruined if the latter are allowed to procure their material from abroad. The Lyons weavers assert that they are being ruined because they cannot.”—(Economist, 1885, p. 815.) The cotton men won in the Chamber of Deputies, July 23, 1885.