ТОП просматриваемых книг сайта:
History of Civilization in England, Vol. 1 of 3. Henry Buckley
Читать онлайн.Название History of Civilization in England, Vol. 1 of 3
Год выпуска 0
isbn http://www.gutenberg.org/ebooks/44493
Автор произведения Henry Buckley
Жанр Зарубежная классика
Издательство Public Domain
This misconception of the true nature of barter was formerly universal;363 and being adopted even by the ablest politicians, was not only an immediate cause of war, but increased those feelings of natural hatred by which war is encouraged; each country thinking that it had a direct interest in diminishing the wealth of its neighbours.364 In the seventeenth, or even late in the sixteenth century, there were, indeed, one or two eminent thinkers who exposed some of the fallacies upon which this opinion was based.365 But their arguments found no favour with those politicians by whom European affairs were then administered. It is doubtful if they were known; and it is certain that, if known, they were despised by statesmen and legislators, who, from the constancy of their practical occupations, cannot be supposed to have sufficient leisure to master each new discovery that is successively made; and who in consequence are, as a body, always in the rear of their age. The result was, that they went blundering on in the old track, believing that no commerce could flourish without their interference, troubling that commerce by repeated and harassing regulations, and taking for granted that it was the duty of every government to benefit the trade of their own people by injuring the trade of others.366
But in the eighteenth century, a long course of events, which I shall hereafter trace, prepared the way for a spirit of improvement, and a desire for reform, of which the world had then seen no example. This great movement displayed its energy in every department of knowledge; and now it was that a successful attempt was first made to raise Political Economy to a science, by discovering the laws which regulate the creation and diffusion of wealth. In the year 1776, Adam Smith published his Wealth of Nations; which, looking at its ultimate results, is probably the most important book that has ever been written, and is certainly the most valuable contribution ever made by a single man towards establishing the principles on which government should be based. In this great work, the old theory of protection as applied to commerce was destroyed in nearly all its parts;367 the doctrine of the balance of trade was not only attacked, but its falsehood was demonstrated; and innumerable absurdities, which had been accumulating for ages, were suddenly swept away.368
If the Wealth of Nations had appeared in any preceding century, it would have shared the fate of the great works of Stafford and Serra; and although the principles which it advocated would, no doubt, have excited the attention of speculative thinkers, they would, in all probability, have produced no effect on practical politicians, or, at all events, would only have exercised an indirect and precarious influence. But the diffusion of knowledge had now become so general, that even our ordinary legislators were, in some degree, prepared for these great truths, which, in a former period, they would have despised as idle novelties. The result was, that the doctrines of Adam Smith soon found their way into the House of Commons;369 and, being adopted by a few of the leading members, were listened to with astonishment by that great assembly, whose opinions were mainly regulated by the wisdom of their ancestors, and who were loth to believe that anything could be discovered by the moderns which was not already known to the ancients. But it is in vain that such men as these always set themselves up to resist the pressure of advancing knowledge. No great truth which has once been found has ever afterwards been lost; nor has any important discovery yet been made which has not eventually carried everything before it. Even so, the principles of Free Trade, as demonstrated by Adam Smith, and all the consequences which flow from them, were vainly struggled against by the most overwhelming majorities of both Houses of Parliament. Year by year the great truth made its way; always advancing, never receding.370 The majority was at first deserted by a few men of ability, then by ordinary men, then it became a minority, then even the minority began to dwindle; and at the present day, eighty years after the publication of Smith's Wealth of Nations, there is not to be found any one of tolerable education who is not ashamed of holding opinions which, before the time of Adam Smith, were universally received.
Such is the way in which great thinkers control the affairs of men, and by their discoveries regulate the march of nations. And truly the history of this one triumph alone should be enough to repress the presumption of statesmen and legislators, who so exaggerate the importance of their craft as to ascribe great results to their own shifting and temporary contrivances. For, whence did they derive that knowledge, of which they are always ready to assume the merit? How did they obtain their opinions? How did they get at their principles? These are the elements of their success; and these they can only learn from their masters – from those great teachers, who, moved by the inspiration of genius, fertilize the world with their discoveries. Well may it be said of Adam Smith, and said, too, without fear of contradiction, that this solitary Scotchman has, by the publication of one single work, contributed more towards the happiness of man, than has been effected by the united abilities of all the statesmen and legislators of whom history has preserved an authentic account.
The result of these great discoveries I am not here concerned to examine, except so far as they aided in diminishing the energy of the warlike spirit. And the way in which they effected this may be easily stated. As long as it was generally believed that the wealth of a country consists of its gold, it was of course also believed that the sole object of trade is to increase the influx of the precious metals; it, therefore, became natural that Government should be expected to take measures by which such influx could be secured. This, however, could only be done by draining other countries of their gold; a result which they, for precisely the same reasons, strenuously resisted. The consequence was, that any idea of real reciprocity was impossible: every commercial treaty was an attempt made by one nation to outwit another;371 every new tariff was a declaration of hostility; and that which ought to be the most peaceable of all pursuits became one of the causes of those national jealousies and national animosities, by which war is mainly promoted.372 But when it was once clearly understood that gold and silver are not wealth, but are merely the representatives of wealth; when men began to see that wealth itself solely consists of the value which skill and labour can add to the raw material, and that money is of no possible use to a nation except to measure and circulate their riches; when these great truths were recognized,373 all the old notions respecting the balance of trade, and the supreme importance of the precious metals, at once fell to the ground. These enormous errors being dispersed, the true theory of barter was easily worked out. It was perceived, that if commerce is allowed to be free, its advantages will be shared by every country which engages in it; that, in the absence of monopoly, the benefits of trade are of necessity reciprocal; and that, so far from depending on the amount of gold received, they simply arise from the facility with which a nation gets rid of those commodities which it can produce most cheaply, and receives in return those commodities which it could only produce at a great expense, but which the other nation can, from the skill of its workmen, or from the bounty of nature, afford to supply at a lower rate. From this it followed, that, in a mercantile point of view, it would be as absurd to attempt to impoverish a people with whom we trade, as it would be in a tradesman to wish for the insolvency of a rich and frequent customer. The result is, that the commercial spirit, which formerly was often warlike, is now invariably pacific.374 And although it is perfectly true that not one merchant out of a hundred is familiar with the arguments on which these economical discoveries are founded, that does not prevent the effect which the discoveries themselves produce on his own mind. The mercantile class is, like every other, acted upon by causes which only a few members of that class are able to perceive. Thus, for instance, of all the innumerable opponents of protection,
In 1672, the celebrated Earl of Shaftesbury, then Lord Chancellor, announced that the time had come when the English must go to war with the Dutch; for that it was ‘impossible both should stand upon a balance; and that, if we do not master their trade, they will ours. They or we must truckle. One must and will give the law to the other. There is no compounding, where the contest is for the trade of the whole world.’
In regard to the seventeenth century, see
The Earl of Bristol, a man of some ability, told the House of Lords, in 1642, that it was a great advantage to England for other countries to go to war with each other; because by that means we should get their money, or, as he called it, their ‘wealth.’ See his speech, in
Serra, who wrote in 1613, is said to have been the first to prove the absurdity of discouraging the exportation of the precious metals. See
In regard to the interference of the English legislature, it is stated by Mr. M'Culloch (
To this the only exception of any moment is the view taken of the usury-laws, which Jeremy Bentham has the honour of demolishing.
Before Adam Smith, the principal merit is due to Hume; but the works of that profound thinker were too fragmentary to produce much effect. Indeed, Hume, notwithstanding his vast powers, was inferior to Smith in comprehensiveness as well as in industry.
The first notice I have observed of the
In 1797, Pulteney, in one of his financial speeches, appealed to ‘the authority of Dr. Smith, who, it was well said, would persuade the present generation and govern the next.’
Sir Theodore Janson, in his
‘It cannot, indeed, be denied that mistaken views of commerce, like those so frequently entertained of religion, have been the cause of many wars and of much bloodshed.’
On the rapid diffusion during the present century of the principles worked out by the economists, compare
‘The feelings of rival tradesmen, prevailing among nations, overruled for centuries all sense of the general community of advantage which commercial countries derive from the prosperity of one another; and that commercial spirit, which is now one of the strongest obstacles to wars, was during a certain period of European history their principal cause.’