Wealth brings with it its own checks and balances. The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws. Give no bounties: make equal laws: secure life and property, and you need not give alms. Open the doors of opportunity to talent and virtue, and they will do themselves justice, and property will not be in bad hands. In a free and just commonwealth, property rushes from the idle and imbecile, to the industrious, brave, and persevering.
The laws of nature play through trade, as a toy-battery exhibits the effects of electricity. The level of the sea is not more surely kept, than is the equilibrium of value in society, by the demand and supply: and artifice or legislation punishes itself, by reactions, gluts, and bankruptcies. The sublime laws play indifferently through atoms and galaxies. Whoever knows what happens in the getting and spending of a loaf of bread and a pint of beer; that no wishing will change the rigorous limits of pints and penny loaves; that, for all that is consumed, so much less remains in the basket and pot; but what is gone out of these is not wasted, but well spent, if it nourish his body, and enable him to finish his task; — knows all of political economy that the budgets of empires can teach him. The interest of petty economy is this symbolization of the great economy; the way in which a house, and a private man’s methods, tally with the solar system, and the laws of give and take, throughout nature; and, however wary we are of the falsehoods and petty tricks which we suicidally play off on each other, every man has a certain satisfaction, whenever his dealing touches on the inevitable facts; when he sees that things themselves dictate the price, as they always tend to do, and, in large manufactures, are seen to do. Your paper is not fine or coarse enough, — is too heavy, or too thin. The manufacturer says, he will furnish you with just that thickness or thinness you want; the pattern is quite indifferent to him; here is his schedule; — any variety of paper, as cheaper or dearer, with the prices annexed. A pound of paper costs so much, and you may have it made up in any pattern you fancy.
There is in all our dealings a self-regulation that supersedes chaffering. You will rent a house, but must have it cheap. The owner can reduce the rent, but so he incapacitates himself from making proper repairs, and the tenant gets not the house he would have, but a worse one; besides, that a relation a little injurious is established between land-lord and tenant. You dismiss your laborer, saying, “Patrick, I shall send for you as soon as I cannot do without you.” Patrick goes off contented, for he knows that the weeds will grow with the potatoes, the vines must be planted, next week, and, however unwilling you may be, the cantelopes, crook-necks, and cucumbers will send for him. Who but must wish that all labor and value should stand on the same simple and surly market? If it is the best of its kind, it will. We must have joiner, locksmith, planter, priest, poet, doctor, cook, weaver, ostler; each in turn, through the year.
If a St. Michael’s pear sells for a shilling, it costs a shilling to raise it. If, in Boston, the best securities offer twelve per cent. for money, they have just six per cent. of insecurity. You may not see that the fine pear costs you a shilling, but it costs the community so much. The shilling represents the number of enemies the pear has, and the amount of risk in ripening it. The price of coal shows the narrowness of the coal-field, and a compulsory confinement of the miners to a certain district. All salaries are reckoned on contingent, as well as on actual services. “If the wind were always southwest by west,” said the skipper, “women might take ships to sea.” One might say, that all things are of one price; that nothing is cheap or dear; and that the apparent disparities that strike us, are only a shopman’s trick of concealing the damage in your bargain. A youth coming into the city from his native New Hampshire farm, with its hard fare still fresh in his remembrance, boards at a first-class hotel, and believes he must somehow have outwitted Dr. Franklin and Malthus, for luxuries are cheap. But he pays for the one convenience of a better dinner, by the loss of some of the richest social and educational advantages. He has lost what guards! what incentives! He will perhaps find by and by, that he left the Muses at the door of the hotel, and found the Furies inside. Money often costs too much, and power and pleasure are not cheap. The ancient poet said, “the gods sell all things at a fair price.”
There is an example of the compensations in the commercial history of this country. When the European wars threw the carrying-trade of the world, from 1800 to 1812, into American bottoms, a seizure was now and then made of an American ship. Of course, the loss was serious to the owner, but the country was indemnified; for we charged threepence a pound for carrying cotton, sixpence for tobacco, and so on; which paid for the risk and loss, and brought into the country an immense prosperity, early marriages, private wealth, the building of cities, and of states: and, after the war was over, we received compensation over and above, by treaty, for all the seizures. Well, the Americans grew rich and great. But the pay-day comes round. Britain, France, and Germany, which our extraordinary profits had impoverished, send out, attracted by the fame of our advantages, first their thousands, then their millions, of poor people, to share the crop. At first, we employ them, and increase our prosperity: but, in the artificial system of society and of protected labor, which we also have adopted and enlarged, there come presently checks and stoppages. Then we refuse to employ these poor men. But they will not so be answered. They go into the poor rates, and, though we refuse wages, we must now pay the same amount in the form of taxes. Again, it turns out that the largest proportion of crimes are committed by foreigners. The cost of the crime, and the expense of courts, and of prisons, we must bear, and the standing army of preventive police we must pay. The cost of education of the posterity of this great colony, I will not compute. But the gross amount of these costs will begin to pay back what we thought was a net gain from our transatlantic customers of 1800. It is vain to refuse this payment. We cannot get rid of these people, and we cannot get rid of their will to be supported. That has become an inevitable element of our politics; and, for their votes, each of the dominant parties courts and assists them to get it executed. Moreover, we have to pay, not what would have contented them at home, but what they have learned to think necessary here; so that opinion, fancy, and all manner of moral considerations complicate the problem.
There are a few measures of economy which will bear to be named without disgust; for the subject is tender, and we may easily have too much of it; and therein resembles the hideous animalcules of which our bodies are built up, — which, offensive in the particular, yet compose valuable and effective masses. Our nature and genius force us to respect ends, whilst we use means. We must use the means, and yet, in our most accurate using, somehow screen and cloak them, as we can only give them any beauty, by a reflection of the glory of the end. That is the good head, which serves the end, and commands the means. The rabble are corrupted by their means: the means are too strong for them, and they desert their end.
1. The first of these measures is that each man’s expense must proceed from his character. As long as your genius buys, the investment is safe, though you spend like a monarch. Nature arms each man with some faculty which enables him to do easily some feat impossible to any other, and thus makes him necessary to society. This