Book Reviews

With its checks and bal ances, its provision for the minority rights of states and individuals, as well as for a protection of the whole when it comes to defending the Federal bor ders, the document has lasted longer than any other written constitution of our time. What makes the Constitution unique is fully explained by Richard B. Morris of Columbia University in Witnesses a~ the Creation: Hamilton, Madison, Jay, and the Constitution (New York: Holt, Rinehart and Win ston, 279 pp., $16.95). The document was the handiwork of fifty-five men who, in the steaming hot summer of 1787, met in the State House of Phil adelphia in secret sessions behind closed doors. Exceeding their instruc tions to do nothing more than amend the Articles of Confederation that bound in loose embrace the thirteen states that had fought the revolution, the fifty-five delegates came up with something that was part nationalistic, part federative, and part a defense of the inalienable rights of individual citizens.

Fortunately James Madison of Vir ginia kept a meticulous record of de liberations that went on for four months. It was Madison who, as a bait for acceptance by the states, promised the Bill of Rights that defined free dom of the press and religion and guaranteed life, liberty, and property (the traditional' 'rights of English men' ') to anybody who was free born. (The founders had to get around the issue of slavery somehow, which they did by postponing the abolition of the slave trade and leaving black manu mission up to the states.) In 1787 the thirteen states, stretched out along the Atlantic seaboard, were struggling with depression. The farm ers of the back country, oppressed by their debts, had taken to open rebel lion. States were printing their own paper money, which quickly became worthless. There was no uniformity of import duties, and the states were set ting tariffs against each other. John Jay of New York had negotiated a good treaty of peace with Britain, which extended the so-called North west Territories to the banks of the Mississippi. But the British were slow to evacuate territory beyond the Ap palachians. Meanwhile the Barbary Pirates of North Africa, the Qaddafis of their day, were seizing American ships and holding their crews for ransom.

The times were ripe for a govern ment that would be empowered to col318 THE FREEMAN AUGUST 1986 lect the taxes needed to pay for an army and to build a navy capable of dealing with pirates. There were plenty to believe, with Alexander Hamilton, that a federal government should as sume the debts of the states and take responsibility for a national currency. And the abolition of internal tariffs seemed as necessary to commerce as the building of bridges across rivers that obstructed north-south travel. But, though all the objective circum stances favored the quick ratification of the Constitution, which gave small states such as Delaware equal repre sentation in the upper legislative chamber with the big states of New York and Pennsylvania, there was a considerable ground swell in favor of sticking to the old Articles of Confederation. It was to combat the ground swell that Hamilton, Madison, and Jay un dertook to write the Federalist Papers, which were presented to newspaper readers as the works of "Publius."

Thomas Jefferson, writing to Madi son, praised the Federalist Papers as "the best commentary on the princi ples of government which ever was written." Much of Morris' book is de voted to sustaining Jefferson's judg ment. The portraits and life stories of Madison, Hamilton, and Jay are excellent. Modern Applications O ur Secretary of Education, William Bennett, has been making it a practice of giving lectures to students on the Federalist Papers. Their importance to Ameri can history is obvious. But who, in our political science faculties, has seen fit to apply the thinking of Hamilton, Madison, and Jay to the struggles of the outer world to achieve nation hoods that might solve their economic problems without infringing the rights of individuals? The question of South Africa leaps immediately to mind. Here we have a collection of tribes, including the white tribe of the descendants of the Boer trekkers. The Zulus, 6 million strong, are one of the biggest tribes.

They don't want to entrust their for tunes to any' 'one man-one vote" ma jority of lesser tribes any more than the white tribe of President Botha wants to submit property and business rights to the whims of 51 per cent of a black vote bent on expropriation. If there were a South African James Madison, he would be counseling his countrymen, black and white, to re gard the separate tribes as the equiv alent of the thirteen states of feder alist America. There would be "one man-one vote" for taxation and for eign policy purposes, and for the elec tion of a president. But property rights would remain vested with tribes and individuals. The genius of Hamilton, Madison, and Jay resided in their ability to limit "one man-one vote" democracy to such things as funding the national debt, building forts on borders, pay ing the army, regulating internal com merce, levying tariffs, and providing for a court system and the election of representatives. But "life, liberty, and the pursuit of happiness" were be yond the vote, and property could not be taken without "due process."

There is no reason why this way of thinking can't be applied everywhere. Let the year 1987 be given over to it. o Audio Classics-The Wealth of Nations Script by George H. Smith Knowledge Products, 120 Tremont Street, Boston, Massachusetts 02108; toll free, 800-453-9000, ext. 400 4 cassettes, $39.95; $170 prepaid for 24 cassette series Reviewed by Howard Baetjer Jr. C assettes will not replace books, but they give the literature of liberty an exciting new dimen sion. Scholarly discussions of classic works of political philosophy are now available on tape. "Audio classics" is a professionally produced, attrac tively packaged series of 24 cassettes presenting the ideas of thinkers whose books have shaped the modern world. If the four tapes on Adam Smith's Wealth of Nations are representative, the series is a worthwhile investment for anyone who would like to supple ment the printed page.

The Wealth of Nations tapes begin with a biographical sketch of Smith, the historical context in which he wrote, and the influence of his expe rience and acquaintances. The nar rator outlines the structure, major points and purposes of the book. George Smith's elegant script is writ ten in accessible language, which clar ifies difficult points without being pa tronizing or oversimplified. This is important for tape format, in which rereading is impossible. (Rewinding is, of course, but I rarely needed to do that.) The presentations are clearly orga nized. Different sections are sepa rated by music, and the script con tains transition passages describing the relation of one section to another. The narrator reads in a slow, clear, ex pressive voice. A helpful and enter taining aspect is the use of voice char acterizations for quotations from Smith and other historical figures (in cluding Samuel Johnson, James Bos well, David Hume, Adam Ferguson, Jean Baptiste Say, and others). Not only do these characterizations give the listener a feeling of "being there,"

but also they obviate any confusion as to what is narration and what is quotation. The content is interesting and ad mirably complete. The four tapes, each between sixty and eighty minutes in length, provide about five hours of detailed and varied listening. The tapes effectively debunk the criticisms that have been ·leveled at Adam Smith, especially that he was an apologist for exploitative big busi ness. They make clear that while Smith was an advocate of capitalism, he was a severe critic of some contem porary businessmen. That is, he was dedicated to the truly free economy, which leads to the well-being and prosperity of all people. Smith criti cized those capitalists who pursued government privileges for themselves at the expense of consumers and their competitors. In his book, Adam Smith strongly criticizes mercantilism, that system of bounties, monopolies and restrictions on trade which beset Britain at the time. Smith intended The Wealth of Nations to guide public policy away from mercantilism and toward free trade. The tapes distinguish Smith's view of national wealth as the real in come of all the people of the nation, which increases under a policy of free trade, from the mercantilist view of national wealth as the riches of the state or government, toward which mercantilism was directed.

Smith's concern for the common man, who has no access to political power and privilege, informs the whole presentation. Smith was a pro fessor of moral philosophy; his pri mary concerns were justice and fair ness. He advocates the free market chiefly in concern for justice to the common man and equality under the law. Listening to these tapes is no sub stitute for reading The Wealth of Na tions, but for those who don't have the time to read it, they are a won derful second choice. They provide in struction while one is restricted to one's car or otherwise unable to read. And when one returns to the original, he will find it much more accessible after hearing this fine introduction. The listener will delight in Smith's language, the clarity of his insights, and the pertinence of his thought to the present day. Hearing Smith's own words, read in an engaging Scottish brogue, one is reminded that classics are classics not because they are old, but because they are great. 0 319 OTHER BOOKS The Farm Problem 20 chapters-17 authors "For over two thousand years of history, in nearly all countries except our own, the farm problem has been at different times the center of such troubles that bloody revolutions have resulted... "

So observed the noted agricultural economist Dr. Karl Brandt in a Freeman article a generation ago. And in the inter val since, conditions have deteriorated. Indeed, the subject is of such urgency as to be chosen the 1986 national high school debate topic in the United States. Over the years The Freeman has ex amined the matter from the view of many authors-farmers, merchants, consum ers, historians, economists. The problem is studied in its historic perspective, its do mestic impact, foreign implications, and prospects for its resolution. The result is an outstanding and con structive analysis of one of the most im portant political and economic issues of our time. Here is the evidence of the fail ure of the welfare state idea as applied in a major segment of the economy. The Farm Problem, 144 pages, is the second of the "issues" studies in The Freeman Library series. The first vol ume, on Free Trade, also is available at $5.95.

Order from: The Foundation for Economic Education Irvington-on-Hudson, N.Y. 10533 FEE pays the postage if payment accom panies order. Softcover $ 5.95 THEFREE IDEAS ON LIBERTY 324 The Selling of Freedom Dennis L. Peterson How best to promote the freedom philosophy. 327 Memories of the 1923 German Inflation Edgar Bissantz A personal reminiscence of the devastating inflation. 328 Inflation, Money, and Freedom Jay Habegger Government's control over money creates an inflationary spiral. 331 To Deal with a Crisis: Governmental Program or Free Market? Robert Higgs Emergency governmental programs hinder market adjustments. 336 Lilacs Jack Schwartzman Thoughts on escaping Soviet oppression. 338 Pollution Control and Biblical Justice Gary North Restitution is the best means of pollution control. 345 On Building Codes Nils McGeorge Are housing regulations improving the quality of life? 346 Deregulate the Utilities Howard Baetjer Jr.