Book contents
- Frontmatter
- CONTENTS
- Acknowledgements
- Introduction
- List of Works
- Note on the Text
- THE NEW OLIVE BRAANCH (1820)
- Dedication
- CONTENTS
- Introduction
- Chapter I Preliminary observations. State of the nation. Whence it arises. Short-sighted policy. Decline of commerce inevitable. Substitutes ought to have been provided for the superfluous mercantile capital, talent and industry.
- Chapter II Sketch of the state of the nation from the peace of Paris till the organization of the present federal government. Analogy with our present state. Unlimited freedom of commerce fairly tested.
- Chapter III Adoption of the federal constitution. Its happy effects. Utter impolicy of the tariff. Manufactures and manufacturers not protected. Hamilton's celebrated report. Glaring inconsistency. Excise system. Its unproductiveness.
- Chapter IV Memorials to congress. Deceptious report. List of exports. Tariff of 1804. Wonderful omission. Immense importations of cotton and woollen goods. Exportations of cotton.
- Chapter V Various causes which prevented the ruinous operation of the early tariffs. Declaration of war. Blankets for Indians. Disgraceful situation of the United States. Governor Gerry. Sufferings of the army. Rapid progress of national industry.
- Chapter VI State of the country at the close of the war. Pernicious consequences to the manufacturers. Mr. Dallas's tariff. Rates reduced ten, twenty, and thirty per cent.
- Chapter VII Ruin of the manufacturers, and decay of their establishments. Pathetic and eloquent appeals to congress. Their contumelious and unfeeling neglect. Memorials neither read nor reported on. Revolting contrast between the fostering care bestowed by the Russian government on their manufacturers, and the unheeded sufferings of that class of citizens in the United States.
- Chapter VIII Dilatory mode of proceeding in congress. Lamentable waste of time. Statement of the progress of bills. Eighty two signed in one day! and four hundred and twenty in eleven! Unfeeling treatment of Gen. Stark. Culpable attention to punctilio. Rapid movement of compensation bill.
- Chapter IX Attempts to prove the state of affairs prosperous. Their fallacy established. Destruction of industry in Philadelphia and Pittsburg. Awful situation of Pennsylvania. 14,537 suits for debt, and 10,326 judgments confessed in the year 1819. Depreciation of real estate 115,544,629 dollars.
- Chapter X Causes assigned for the existing distress. Extravagant banking. Transition to a state of peace. Fallacy of these reasons. True cause, destruction of industry. Comparison of exports for six years.
- Chapter XI The everlasting complaint of “taxing the many for the benefit of the few.” Fallacy and injustice of it. Amount of impost for fourteen years. For the year 1818. Impost for the protection of agriculture in that year above 4,500,000 dollars.
- Chapter XII Immense advantages enjoyed by the farmers and planters for nearly thirty years, viz. a domestic monopoly—and excellent foreign markets. Exorbitant prices of the necessaries of life. Great extent of the domestic market. Internal trade of the United States.
- Chapter XIII Calumnious clamour against the manufacturers on the ground of extortion. Destitute of the shadow of foundation. Take the beam out of thine own eye. Rise of merino wool 400 per cent. Great rise of the price of merchandize after the declaration of war.
- Chapter XIV The agricultural the predominant interest in the United States. Great advantages to agriculture from the vicinity of manufacturing establishments. Case of Aberdeen. Of Harmony. Of Providence. Fall of lands the result of the decay of manufactures.
- Chapter XV General reflexions on commerce. Conducted on terms of reciprocity, highly advantageous. Commerce of the United States carried on upon very unequal terms. Has produced most injurious consequences. Tables of exports. Estimates of the profits of commerce. Pernicious consequences of the competition of our merchants in the domestic and foreign markets. The ruin of so many of them the result of the excess of their numbers.
- Chapter XVI Fostering care of commerce by congress. Monopoly of the coasting and China trade secured to our merchants from the year 1789. Revolting partiality. Wonderful increase of tonnage. Act on the subject of plaster of Paris. Law levelled against the British navigation act. Rapidity of legislation.
- Chapter XVII Erroneous views of the tariff. Protection of agriculture in 1789. Prostrate state of the staples of South Carolina and Georgia. Ninety per cent on snuff, and one hundred on tobacco. Striking contrast. Abandonment of manufactures.
- Chapter XVIII An awful contrast. Distress in Great Britain, because she cannot engross the supply of the world. Distress in the United States, because the home market is inundated with rival manufactures.
- Chapter XIX Encouragement and patronage of immigrants by England and France. Advantages of the United States. Great numbers of immigrants. Their sufferings. Return of many of them. Interesting table.
- Addresses of the Philadelphia Society for the Promotion of National Industry
- PREFACE TO THE ADDRESSES
- NO. I Philadelphia, March 27, 1819. Definition of political economy. Its importance. Influence of great names. Leading feature of Adam Smith's theory. Pernicious consequences of its adoption.
- NO. II Philadelphia, April 7, 1819. Further review of Adam Smith's maxims. Their pernicious consequences admitted by himself. Proposed remedy in collateral manufactures and country labour. Futility of the proposition. Ignorance of the nobility, country gentlemen and merchants, asserted by Dr. Smith. Position utterly unfounded.
- Appendix to The New Olive Branch
- Appendix to Addresses of the Philadelphia Society
- Notes
- Index
NO. II - Philadelphia, April 7, 1819. Further review of Adam Smith's maxims. Their pernicious consequences admitted by himself. Proposed remedy in collateral manufactures and country labour. Futility of the proposition. Ignorance of the nobility, country gentlemen and merchants, asserted by Dr. Smith. Position utterly unfounded.
Published online by Cambridge University Press: 05 November 2014
Book contents
- Frontmatter
- CONTENTS
- Acknowledgements
- Introduction
- List of Works
- Note on the Text
- THE NEW OLIVE BRAANCH (1820)
- Dedication
- CONTENTS
- Introduction
- Chapter I Preliminary observations. State of the nation. Whence it arises. Short-sighted policy. Decline of commerce inevitable. Substitutes ought to have been provided for the superfluous mercantile capital, talent and industry.
- Chapter II Sketch of the state of the nation from the peace of Paris till the organization of the present federal government. Analogy with our present state. Unlimited freedom of commerce fairly tested.
- Chapter III Adoption of the federal constitution. Its happy effects. Utter impolicy of the tariff. Manufactures and manufacturers not protected. Hamilton's celebrated report. Glaring inconsistency. Excise system. Its unproductiveness.
- Chapter IV Memorials to congress. Deceptious report. List of exports. Tariff of 1804. Wonderful omission. Immense importations of cotton and woollen goods. Exportations of cotton.
- Chapter V Various causes which prevented the ruinous operation of the early tariffs. Declaration of war. Blankets for Indians. Disgraceful situation of the United States. Governor Gerry. Sufferings of the army. Rapid progress of national industry.
- Chapter VI State of the country at the close of the war. Pernicious consequences to the manufacturers. Mr. Dallas's tariff. Rates reduced ten, twenty, and thirty per cent.
- Chapter VII Ruin of the manufacturers, and decay of their establishments. Pathetic and eloquent appeals to congress. Their contumelious and unfeeling neglect. Memorials neither read nor reported on. Revolting contrast between the fostering care bestowed by the Russian government on their manufacturers, and the unheeded sufferings of that class of citizens in the United States.
- Chapter VIII Dilatory mode of proceeding in congress. Lamentable waste of time. Statement of the progress of bills. Eighty two signed in one day! and four hundred and twenty in eleven! Unfeeling treatment of Gen. Stark. Culpable attention to punctilio. Rapid movement of compensation bill.
- Chapter IX Attempts to prove the state of affairs prosperous. Their fallacy established. Destruction of industry in Philadelphia and Pittsburg. Awful situation of Pennsylvania. 14,537 suits for debt, and 10,326 judgments confessed in the year 1819. Depreciation of real estate 115,544,629 dollars.
- Chapter X Causes assigned for the existing distress. Extravagant banking. Transition to a state of peace. Fallacy of these reasons. True cause, destruction of industry. Comparison of exports for six years.
- Chapter XI The everlasting complaint of “taxing the many for the benefit of the few.” Fallacy and injustice of it. Amount of impost for fourteen years. For the year 1818. Impost for the protection of agriculture in that year above 4,500,000 dollars.
- Chapter XII Immense advantages enjoyed by the farmers and planters for nearly thirty years, viz. a domestic monopoly—and excellent foreign markets. Exorbitant prices of the necessaries of life. Great extent of the domestic market. Internal trade of the United States.
- Chapter XIII Calumnious clamour against the manufacturers on the ground of extortion. Destitute of the shadow of foundation. Take the beam out of thine own eye. Rise of merino wool 400 per cent. Great rise of the price of merchandize after the declaration of war.
- Chapter XIV The agricultural the predominant interest in the United States. Great advantages to agriculture from the vicinity of manufacturing establishments. Case of Aberdeen. Of Harmony. Of Providence. Fall of lands the result of the decay of manufactures.
- Chapter XV General reflexions on commerce. Conducted on terms of reciprocity, highly advantageous. Commerce of the United States carried on upon very unequal terms. Has produced most injurious consequences. Tables of exports. Estimates of the profits of commerce. Pernicious consequences of the competition of our merchants in the domestic and foreign markets. The ruin of so many of them the result of the excess of their numbers.
- Chapter XVI Fostering care of commerce by congress. Monopoly of the coasting and China trade secured to our merchants from the year 1789. Revolting partiality. Wonderful increase of tonnage. Act on the subject of plaster of Paris. Law levelled against the British navigation act. Rapidity of legislation.
- Chapter XVII Erroneous views of the tariff. Protection of agriculture in 1789. Prostrate state of the staples of South Carolina and Georgia. Ninety per cent on snuff, and one hundred on tobacco. Striking contrast. Abandonment of manufactures.
- Chapter XVIII An awful contrast. Distress in Great Britain, because she cannot engross the supply of the world. Distress in the United States, because the home market is inundated with rival manufactures.
- Chapter XIX Encouragement and patronage of immigrants by England and France. Advantages of the United States. Great numbers of immigrants. Their sufferings. Return of many of them. Interesting table.
- Addresses of the Philadelphia Society for the Promotion of National Industry
- PREFACE TO THE ADDRESSES
- NO. I Philadelphia, March 27, 1819. Definition of political economy. Its importance. Influence of great names. Leading feature of Adam Smith's theory. Pernicious consequences of its adoption.
- NO. II Philadelphia, April 7, 1819. Further review of Adam Smith's maxims. Their pernicious consequences admitted by himself. Proposed remedy in collateral manufactures and country labour. Futility of the proposition. Ignorance of the nobility, country gentlemen and merchants, asserted by Dr. Smith. Position utterly unfounded.
- Appendix to The New Olive Branch
- Appendix to Addresses of the Philadelphia Society
- Notes
- Index
Summary
Dr. Smith's maxim, discussed in our first number, inevitably involves in its consequences, as we have proved, the destruction of those manufacturing establishments, which produce articles that can be purchased “cheaper abroad than they can be made at home;” and its necessary result is, to deprive those engaged in them of employment. The doctor, after having inflicted a deadly wound by this maxim, undertakes to provide a sovereign and infallible remedy for the evil, which, to do him and his system justice, we shall exhibit in his own words:—It remains to examine how far the prescription applies a remedy to the evil.
I. “Though a number of people should, by restoring the freedom of trade, be thrown all at once out of their ordinary employment, and common method of subsistence, it would by no means follow, that they would thereby be deprived either of employment or subsistence.”
II. “To the greater part of manufactures, there are other collateral manufactures of so familiar a nature, that a workman can easily transfer his industry from one to the other.
III. “The greater part of such workmen, too, are occasionally employed in country labour.
IV. “The stock, which employed them in a particular manufacture before, will still remain in the country, to employ an equal number of people in some other way.
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- The New Olive Branch (1820) and Selected Essays , pp. 191 - 198Publisher: Anthem PressPrint publication year: 2014