p. 648.

*

and Early adduced this to me as a reason why I should Indians on a large scale, and made the first ethnographbe made Vice President. My answer was that I did ical map of North America which had real merit. not want the office, and would dislike to be proposed

.-Adams' Life of Gallatin, pp. 643–44. and not elected. — Adams' Life of Gallatin, p. 594.

In 1833 be writes a long letter to his friend, After the election of 1824 Gallatin's name

John Badollet, in which occurs this sentence: was suggested for a cabinet position. In that

The present aspect of our national politics is extremely connection, he writes:

discouraging; yet, having hitherto always seen the good As to my accepting the Treasury Department, it is sense of this nation ultimately prevail against the exout of the question (too much labor]

cesses of party spirit, and the still more dangerous efBut even with respect to the Department of State, for forts of disappointed ambition, I do not despair.-Ibid., which I am better calculated than any other, and as fit as any other person, it appears to me,

To B:dollet he again writes in 1836: it would not be proper for me to become a member of it (the cabinet]. This is much strengthened by the

The energy of this nation is not to be controlled; it surmises to which Mr. Clay's conduct has given birth,

is at present exclusively applied to the acquisition of and by the circumstance of his accepting one of the

wealth and to improvements of stupendous magnitude, Departments. I must, and will at all events, remain

*. The apparent prosperity and the progress above the reach of suspicion.- 1bid., p. 608.

of cultivation, population, commerce, and improve

ment are beyond expectation. But it seems to me as it About 1830 Gallatin entered politics again in general demoralization was the consequence; and I so far as taking part in public discussions may would have preferred a gradual, slow, and more be called entering politics. He wrote in favor secure progress. I am, however, an old man, and the of the bank, and against protection. In regard

young generation has a right to govern itself to his mental habits, he says:

*.-Ibid, p. 653.

Miss Martineau has left us an account of an I can lay no claim to either originality of thinking or felicity of expression. If I have met with any success

interview of 1834 with Gallatin that is worthy either in public bodies, as an executive officer, or in to be quoted entire. However, space forbids, foreign negotiations, it has been exclusively through a and only some extracts may be taken. patient and most thorough investigation of all the at

Mr. Gallatin called. Old man. Began his career in tainable facts, and a cautious application of these to

1787. Has been three times in England. Twice as the questions under discussion;

*. - Adams
minister. Found George IV. a cipher

* Life of Gallatin, p. 637.

William IV. silly as duke of Clarence. Gallatin would Henry Adams has given this summary of the

have the president a cipher, too, if he could, i, e., would life of Gallatin :

have him annual, so that all would be done by the ministers.

* The office was made for the Under these pleasant conditions, Mr. Gallatin's active man-Washington-who was wanted (as well as fit) to mind turned to those scientific pursuits for which it reconcile all parties. Bad office, but well filled till was so well fitted and in which it took so much delight. now. Too much power for one man: therefore it fills Perhaps one might not wander far from the truth if one all men's thoughts to the detriment of better things. added that these pursuits were, on the whole, his most Jackson “a pugnacions animal.” permanent elaim to distinction. The first debater and New Englanders the best people, perhaps, in the parliamentarian of his day, his fame as a leader of Con- world. Prejudiced, but able, honest, and homogeneous, gress has long since ceased to give an echo, and his compound elsewhere. most brilliant speeches are hardly known even by name All great changes have been effected by the Demoto the orators of the present generation. The first cratic party, from the first up to the universal suffrage, of all American financiers, his theories, his methods, which practically exists. and his achievements as secretary of the treasury are as completely forgotten by politicians as his speeches Would have no United States Bank. Would have in Congress. First among the diplomatists of his time, free banking as soon as practicable. It cannot be yet. his reputation as a diplomat has passed out of men's Thinks Jackson all wrong about the bank, but has minds. First as a writer and an authority on political changed his opinions as to its powers. It has no poeconomy in America, very few economists can now re- litical powers, but prodigious commercial. If the bank member the titles of his writings or the consequences be not necessary, better avoid allowing this power. of his action. But he was the father of American Bank has not overpapered this country. ethnology, and there has been no time since his death Gallatin is tall, bald, toothless, speaks with burr, when the little band of his followers have forgotten looks venerable and courteous. Opened out and apolohim.

* . Thus it was he who first es- gized for his full communication. Kissed my hand. tablished the linguistic groups of the North American Adams' Life of Gallatin, pp. 650-51.

*

*

*

*

*

*

He opposed the annexation of Texas, the war in Mr. Breckenridge's account of the “Whiskey Insurwith Mexico, and the extension of slavery. rection"? (7) Why did Gallatin like Pennsylvania

better than New York? (8) Do you agree with him in From 1844 to 1848 he worked with the greatest

principle? (9) Why did Breckenridge wish to choose energy in these directions. Born in 1761, he juries in the way he suggests? died in 1849, but as late as 1848 he writes con- (1) What was Gallatin's place in national politics? cerning his work to secure peace with Mexico : (2) Why was he so strong a leader? (3) Have our most

successful statesmen had the same quality in general? I write with great difficulty, and I become exhausted

(4) What did Gallatin think of the forms and cerewhen I work more than four or five hours per day.

monies of Washington life? (5) How does he criticise Ever since the end of October all my faculties, im

President Washington? (6) How did Gallatin propose paired as they are, were absorbed in one subject; not

to pay the national debt? 17) Find out what you can of only my faculties, but I may say all my feelings; I

the “Sinking fund” theory. 18) What were Gallatin's thonght of nothing else; * * * I postponed

essential ideas in managing the Treasury Department? everything else, * * * even answering the

(9. Was he a “spoilsman"? (10) What would Gallatin letters which did not absolutely require immediate at

say, if living now, in regard to the right to annex Cuba, tention.—Writings I., p. 569.

etc.? QUESTIONS.

(1) What did Gallatin think of war? (2) How did he

regard the war of 1812? (3) Discuss his views regard. (1) What was Gallatin's native country? (2) From ing an embargo. (4) Find out what you can of an em. what class did he come? (3) Was he aristocratic or bargo policy. 15) Was the war of 1812 well managed? democratic himself? (4) What can be said of Galla- (6What did he think of the Federalists? (7) What tin's education? (5) What of his interest in education? name did he give them? (8) Did he like America or (6) In what states do you find Gallatin lived? (7) What Europe best? Why? (9) Did he care for office? (10) did Gallatin spend money for, for his marriage? (8) For what work in politics did he believe himself best From the letter given what do you think of his first fitted? (11) What qualities made him so successful? wife? (9) What the nature of his home life after his (12) What American characteristic did he think the second marriage ?

most dominant? (13) What do you learn from Miss (1) Name the public positions that Gallatin held. (2) Martineau's interview of Gallatin's views? Make a list of his political views. (3) What can you say (1) Name Gallatin's dominant characteristics as you of the success of his statesmanship? (4) What argu gather them from these extracts. (2) Write a life of ments were set forth by the people of western Pennsyl

Gallatin from this material. (3) Do you admire him or vania against the excise tax? (5) How did Gallatin re- not? Why your answer? gard the French Revolution? (6) What was the error

H. W. CALDWELL.

Write Your Own Political Economy

INTRODUCTION THE above title indicates the method pur- suggestions for the treatment of each exercise.

sued. It does not indicate the method The primary intention is that the exercises be,

of thought but the method of instruc- on the part of the student, an original analysis tion. It indicites further that the instruction of the situation suggested. Whether the stuis intended to be self-instruction. Since, more- dent be encouraged to read the text-writers for over, there can be no instruction which is not assistance in his analysis, or be discouraged in essentially self-instruction, a certain form of seeking for aid outside of his own consciousendeavor is here esteemed best to accomplishness, or at most discussion with parents and self-instruction of the beginner. This is a form comrades, will depend upon his stage of adwhich will call forth his activities and thus rec- vancement. Doubtless it is preferable that ognize at the outset that man's activity, even separate sets of exercises be composed, in the more than his wants, is calculated to further his future, for different ages and capacities. Since, progress. The stimulation of mental effort is however, it is believed that progress can only be sought to be promoted by exercises. These made through internal spontaneity of thought, exercises consist, so far as the contribution of it is better that, in all cases of doubt, recourse the teacher is concerned, in titles suggestive of to the text writers be discouraged, and that only crucial economic topics; and also of some dozen in exceptional cases of strong and advanced

minds in whom the critical faculty has already mental facts of existence, and with which he has some development, such reference be permitted. only begun to familiarize himself as a field of

The teacher should first discuss the exer- study, without any presumption of finally setcises before the class and dictate to them the tling the question. title and suggestions. On a subsequent day Usually three topics will be presented under the students should bring in their original es- a single title. Each topic is for a separate says. In no case should the documents handed student-essay, but the titles will be discussed in in be allowed to consist of a series of categori- the text as a whole and with little or no refercal answers to the suggestions accompanying ence to the separate essay-topics. the exercises, nor should they be confined to

I. FLUCTUATING PRICES. the suggestions, but should include as many new points as the students can think of. In the The question naturally arises, why separate case of each student there must be an original titles have been adopted for fluctuating and for purposive arrangement of materials calculated steady prices. Surely, it will be said, there to demonstrate a central theory which has ger- must be some one principle which governs in minated in his mind. The students must there all questions of price. The objection is true in fore avoid discussing the suggestions in the one sense and untrue in another. It is true in order in which they are given. In other words, the sense that we are justified in always looking they are to follow the obvious principles gov- for a central principle in any group of phenomerning the construction of a literary essay; and ena that presents itself. We have a right to it will be found that the intense human bear- assume that the phenomena are grouped toing of the subjects discussed will exert a most gether because they belong together naturally, beneficial influence upon the ability of the stu- and that some natural characteristic may be dents to employ language and expression. found common to the group.

to the group. Now prices Experience has demonstrated that economic evidently form such a group, and if we seek to exercises assist the teacher of English at least break the group up into two, are

we not as much as English and rhetorical instruction frustrating our object? assist the teacher of economics.

The answer is, that admitting, and even When the essays have been read by the strongly affirming the necessity of central teacher, a general criticism upon the tendencies principles, it must also be borne in mind that a observed in them may be made before the class. generalization may be too broad for practical It is here that the greatest discretion and pru- utility; for, after all, we seek to understand, dence are required, for the danger is very great and it is possible that a generalization may be that pupils be encouraged in making some final too broad to illuminate our understanding. It conclusion. That such conclusion might re- must always be borne in mind that a generalidound to the credit of this or that political zation is a human and finite method of progparty is neither here nor there; for whoever If we may consider progress to consist undertakes economic instruction should hold in the learning of truth and in those changes himself above the breath of suspicion of current within the thinker that accompany increased political bias or affiliation. Of the danger of knowledge, then we must look upon“ general” partisanship, therefore, it is superfluous to reasoning as a mere method whereby a certain speak.

characteristic common to all the individuals of The other danger--that of preconceived con- a group is made to represent them. It will, clusions-has a real pedagogic interest. The therefore, be seen that the breadth of the genmerit that is believed to lie in the self-instruc- eralization that should be made is a practical tion herein advocated is precisely this, that if question depending upon the nearness to realthe method be properly employed, the studentity and the vividness of imagination which will be impressed with the fact that he has be- flow from it. gun the study of a large and ever-widening Now, if we attempt to subsume the whole subject, which reaches down into the funda- topic of value under the head of a single

ress.

explanation, it will be found that that ex- being that it is not sufficiently characteristic of planation will fail in vividness and reality, the special field of inquiry, it is therefore well especially for the beginner, because it can be to take up different part-fields, where we shall nothing that is peculiar to the economic field, be more sure to discover characteristic princibut only something that is common to all or- ples. One way of doing this is to consider ganic life. In other words, it can be nothing separately those cases in which we notice the else han a general principle of adjustment, most frequency and extent of oscillation in known to prevail everywhere and always, to prices.

prices. By separating these cases from those which biological rather than social or economic in which we have observed prices to be most science has most loudly called attention

stable, we shall be able to select interesting disIt is true that value is the central point of tinctions of principle and influence. Undoubtthe science of political economy; in fact, is the edly the analogy of physics is the most useful science. It is the central concept of adjust- to us, and we shall obtain great assistance from ment, from which the explanations of all phe- the habit of looking upon economic influences nomena of industry radiate like the spokes as forces. We must remember, however, that from the hub of a wheel. Such a central point we are dealing with the kingdom of mind and at once is a mental necessity, and represents an not with the kingdom of matter, and this resoutward fact. It is a mental necessity because, ervation will be the occasion of fruitful disas above implied, all reasoning is representa cussion in the numberless cases in which we tive, that is to say, we analyze by letting some shall have to call in the physical analogy. characteristic represent the whole, and by then It is true that in almost any business a daily observing resulting relations. An example or even hourly fluctuation of prices may be obdrawn from common experience will suffi- served, while in the same business it is possible ciently substantiate this statement. A landscape to conclude that, on the whole, prices average so produces an effect upon a traveler sufficient for and so with little change. In other businesses, most purposes of art or industry, although it little dependence may be placed on the general is impossible that he either physically see or level of prices in the long run; and in still othmentally apprehend each leaf and each blade of ers, there is slight daily fluctuation. grass. Nature provides for him a short-cut by In trading a rifle for a canoe, in selling a byallowing him to generalize in the physical act product of industry, such as corn-cobs, or in of seeing and in the mental acts that corre- the fish market, affected as it is as well by the spond. Science proceeds upon the same nat- run of fish, the weather, and the occurrence of ural principles and seeks to use practicable religious feast days, we may seek to investi. substitutes to supply the place of the limited gate the simpler influences connected with senses with which we are endowed.

prices. We should here begin our investigaIt follows naturally, then, that if we choose a tion with the physical environment, and we certain field of investigation, like political econ- sball naturally find that it is such as accompanomy, over which we cannot at first cast a ies the less complicated phases of civilization. sweeping and satisfying comprehensive glance, Each of the concrete topics is drawn from inwe can, at least, take parts of the field and pur- dustrial conditions that have existed most exsue within them severally our representative clusively before the industrial revolution took process,

and

may then even assemble our repre- place one hundred and fifty years ago, not to sentative concepts and try to find in turn what speak of more modern improvements, and that is common in them, thus pursuing a re-represen- still exist on the frontiers of industry. Let tative process, or a representative process of the student endeavor to enumerate all of the the second degree. Thus the field of analysis symptoms of a stage of industry so little adin economics is very broad, and it does not fol- vanced as the one implied; not only the invenlow, because one has not made the last analysis, tions for production, but the methods of life, that therefore he has not made progress. of consumption, of recreation, and even of

One difficulty in too broad a generalization political and religious thought. He will then perceive that these different phases of life are be the exchange of peltry for groceries, while not independent, and that in following back the with the rifle the other man may intend to stock single category of economics, he is losing most his larder with venison. of the whole view of life in order to gain more It does not concern us, huwever, what theorof one side of it, and thus ultimately to know ies they have about their acts; it is our businessmore of all. If now he seeks the most impor- to make theories, not theirs. But what does tant distinction for his purpose between the old concern us is the consideration that we are not and the new civilizations, he will find that the dealing with these material products, but with element of Time is preponderant. Under the intentions of the men with respect to them primitive conditions, short calculations are and with respect to each other, and with their made, and therefore we are enabled to study feelings in connection with the material objects the circumstances that affect prices in two and with each other. Feelings and intentions widely separated environments by noting that are not material things, and with feelings and environment which is characterized by short intentions we have solely to do. and that which is characterized by long calcu- Again, we are not called upon to treat of all lations.

the causes of feelings and intentions, except so This way of dividing the subject on a time- far as we need a background for our picture. basis may not be the best, but it is at least sci- It is evident that the intention to tuke a trip for entific, for it adheres strictly to the facts. By the purpose of trading may depend upon infinnoting carefully our environment, we come ite moral and physical influences, upon the sense finally to feel that all of the phenomena which of proper well being, on family duty, upon the we find existing together at one time are char- changing of the seasons; such studies are beacteristic of each other, so that if one of the yond our specialty. We must confine ourselves phenomena be given to us, the others may be to the inquiry as to how given motives work, supplied. In this way, the paleontologist will, and as to what is their nature when once crefrom a fossil tooth or femur, reconstruct for ated from whatever origin.. you a marvelous creature, with an assurance that The economic act is the trade. The economie inspires confidence; or the horse-wrangler on a motive is that of advantage, whatever be the prinDakota ranch will tell you, as soon as he dis- ciples, moral or customary, which form an ideal cerns and recognizes one animal roaming far or type of advantage within the trader's mind. from the “bunch,” which are its comrades that He does not necessarily seek the disadvantage are likely to be found hidden behind the nearest of his opponent; it is sufficient to suppose him "divide."

to seek his own advantage. Advantage, when While the primitive economy excludes in- used in this connection, is usually represented quiries respecting the industrial forces that by the term “utility.” Now we cannot conplay in Time, it leaves us, for this very reason, sider utility to him as inhering in the material free to weigh other motives. A price that is object, e. g., the canoe. We find the utility, not not affected by previous calculations must be in the canoe, but in the man. If we found it in the result of circumstances in which the parties the canoe, and if we were to say that if the find themselves suddenly.

canoe were absent the utility would cease, and And, first of all, let us inquire what is the na- therefore the utility is inherent in the canoe, we ture of the subject matter with which we are should have to conclude that two canoes would dealing: does it belong to the world of matter contain twice the utility of one canoe; three or to that of mind? It is true that the fron- canoes, three times the utility, and so on; tiersmen exchange a canoe against a rifle and a whereas the slightest observation shows that pair of moccasins: all material substances and the probability is that the utility of the several industrial products. In their own minds, the canoes would decrease as their number inadvantages of the “sale” may appear material- creased, although it is again possible that istic, for by means of the canoe the one man under exceptional circumstances the contrary may perform a journey, the object of which may might hold true. We must therefore always