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inconvenient　'facts　which　he　says　'have　so　often　proved



contradictory　of　his　system'　　with　the　latter　because　he



understood　nothing　at　all　of　it。　He　cannot　desist　from　his　warnings



against　the　pitfalls　into　which　statistical　facts　may　mislead　us；



or　from　reminding　us　that　politics　have　nothing　to　do　with



political　economy；　which　sounds　about　as　wise　as　if　anyone　were　to



maintain　that　pewter　must　not　be　taken　into　account　in　the



consideration　of　a　pewter　platter。



　　　　First　a　merchant；　then　a　manufacturer；　then　an　unsuccessful



politician；　Say　laid　hold　of　political　economy　just　as　a　man　grasps



at　some　new　undertaking　when　the　old　one　cannot　go　on　any　longer。



We　have　his　own　confession　on　record；　that　he　stood　in　doubt　at



first　whether　he　should　advocate　the　（so…called）　mercantile　system；



or　the　system　of　free　trade。　Hatred　of　the　Continental　system　（of



Napoleon）　which　had　ruined　his　manufactory；　and　against　the　author



of　it　who　had　turned　him　out　of　the　magistracy；　determined　him　to



espouse　the　cause　of　absolute　freedom　of　trade。



　　　　The　term　'freedom'　in　whatever　connection　it　is　used　has　for



fifty　years　past　exercised　a　magical　influence　in　France。　Hence　it



happened　that　Say；　under　the　Empire　as　well　as　under　the



Restoration；　belonged　to　the　Opposition；　and　that　he　incessantly



advocated　economy。　Thus　his　writings　became　popular　for　quite　other



reasons　than　what　they　contained。　Otherwise　would　it　not　be



incomprehensible　that　their　popularity　should　have　continued　after



the　fall　of　Napoleon；　at　a　period　when　the　adoption　of　Say's　system



would　inevitably　have　ruined　the　French　manufacturers？　His　firm



adherence　to　the　cosmopolitical　principle　under　such　circumstances



proves　how　little　political　insight　the　man　had。　How　in　little　he



knew　the　world；　is　shown　by　his　firm　belief　the　cosmopolitical



tendencies　of　Canning　and　Huskisson。　One　thing　only　was　lacking　to



his　fame；　that　neither　Louis　XVIII　nor　Charles　X　made　him　minister



of　commerce　and　of　finance。　In　that　case　history　would　have　coupled



his　name　with　that　of　Colbert；　the　one　as　the　creator　of　the



national　industry；　the　other　as　its　destroyer。



　　　　Never　has　any　author　with　such　small　materials　exercised　such



a　wide　scientific　terrorism　as　J。　B。　Say；　the　slightest　doubt　as　to



the　infallibility　of　his　doctrine　was　branded　as　obscurantism；　and



even　men　like　Chaptal　feared　the　anathemas　of　this



politico…economical　Pope。　Chaptal's　work　on　the　industry　of　France；



from　the　beginning　to　the　end；　is　nothing　else　than　an　exposition



of　the　effects　of　the　French　protective　system；　he　states　that



expressly；　he　says　distinctly　that　under　the　existing　circumstances



of　the　world；　prosperity　for　France　can　only　be　hoped　for　under　the



system　of　protection。　At　the　same　time　Chaptal　endeavours　by　an



article　in　praise　of　free　trade；　directly　in　opposition　to　the



whole　tendency　of　his　book；　to　solicit　pardon　for　his　heresy　from



the　school　of　Say。　Say　imitated　the　Papacy　even　so　far　as　to　its



'Index。'　He　certainly　did　not　prohibit　heretical　writings



individually　by　name；　but　he　was　stricter　still；　he　prohibits　all；



the　non…heretical　as　well　as　the　heretical；　he　warns　the　young



students　of　political　economy　not　to　read　too　many　books；　as　they



might　thus　too　easily　be　misled　into　errors；　they　ought　to　read



only　a　few；　but　those　good　books；　which　means　in　other　words；　'You



ought　only　to　read　me　and　Adam　Smith；　no　others。'　but　that　none　too



great　sympathy　should　accrue　to　the　immortal　father　of　the　school



from　the　adoration　of　his　disciples；　his　successor　and　interpreter



on　earth　took　good　care；　for；　according　to　Say；　Adam　Smith's　books



are　full　of　confusion；　imperfection；　and　contradictions；　and　he



clearly　gives　us　to　understand　that　one　can　only　learn　from　himself



'how　one　ought　to　read　Adam　Smith。'



　　　　Notwithstanding；　when　Say　was　at　the　zenith　of　his　fame；



certain　young　heretics　arose　who　attacked　the　basis　of　his　system



so　effectually　and　so　boldly；　that　he　preferred　privately　to　reply



to　them；　and　meekly　to　avoid　any　public　discussion。　Among　these；



Tanneguy　du　Ch鈚el　（more　than　once　a　minister　of　State）　was　the



most　vigorous　and　the　most　ingenious。



　　　　'Selon　vous；　mon　cher　critique；'　said　Say　to　Du　Ch鈚el　in　a



private　letter；　'　il　ne　reste　plus　dans　mon　閏onomie　politique　que



des　actions　sans　motifs；　des　faits　sans　explication；　une　cha頽e　de



rapports　dont　les　extr閙it閟　manquent　et　dont　les　anneaux　les　plus



importants　sont　bris閟。　Je　partage　donc　l'infortune　d'Adam　Smith；



dont　un　de　nos　critiques　a　dit　qu'il　avait　fait　r閠rograder



l'閏onomie　politique。'（4*）　In　a　postscript　to　this　letter　he



remarks　very　naively；　'Dans　le　second　article　que　vous　annoncez；　il



est　bien　inutile　de　revenir　sur　cette　pol閙ique；　par　laquelle　nous



pouvions　bien　ennuyer　le　public。'



　　　　At　the　present　day　the　school　of　Smith　and　Say　has　been



exploded　in　France；　and　the　rigid　and　spiritless　influence　of　the



Theory　of　Exchangeable　Values　has　been　succeeded　by　a　revolution



and　an　anarchy　which　neither　M。　Rossi　nor　M。　Blanqui　are　able　to



exorcise。　The　Saint…Simonians　and　the　Fourrierists；　with　remarkable



talent　at　their　head；　instead　of　reforming　the　old　doctrines；　have



cast　them　entirely　aside；　and　have　framed　for　themselves　a　Utopian



system。　Quite　recently　the　most　ingenious　persons　among　them　have



been　seeking　to　discover　the　connection　of　their　doctrines　with



those　of　the　previous　schools；　and　to　make　their　ideas　compatible



with　existing　circumstances。　Important　results　may　be　expected　from



their　labours；　especially　from　those　of　the　talented　Michel



Chevalier。　The　amount　of　truth；　and　of　what　is　practically



applicable　in　our　day　which　their　doctrines　contain；　consists



chiefly　in　their　expounding　the　principle　of　the　confederation　and



the　harmony　of　the　productive　powers。　Their　annihilation　of



individual　freedom　and　independence　is　their　weak　side；　with　them



the　individual　is　entirely　absorbed　in　the　community；　in　direct



contradiction　to　the　Theory　of　Exchangeable　Values；　according　to



which　the　individual　ought　to　be　everything　and　the　State　nothing。



　　　　It　may　be　that　the　spirit　of　the　world　is　tending　to　the



realisation　of　the　state　of　things　which　these　sects　dream　of　or



prognosticate；　in　any　case；　however；　I　believe　that　many　centuries



must　elapse　before　that　can　be　possible。　It　is　given　to　no　mortal



to　estimate　the　progress　of　future　centuries　in　discoveries　and　in



the　condition　of　society。　Even　the　mind　of　a　Plato　could　not　have



foretold　that　after　the　lapse　of　thousands　of　years　the　instruments



which　do　the　work　of　society　would　be　constructed　of　iron；　steel；



and　brass；　nor　could　that　of　a　Cicero　have　foreseen　that　the



printing　press　would　render　it　possible　to　extend　the



representative　system　over　whole　kingdoms；　perhaps　over　whole



quarters　of　the　globe；　and　over　the　entire　human　race。　If　meanwhile



it　is　given　to　only　a　few　great　minds　to　foresee　a　few　instances　of



the　progress　of　future　thousands　of　years；　yet　to　every　age　is



assigned　its　own　special　task。　But　the　task　of　the　age　in　which　we



live　appears　not　to　be　to　break　up　mankind　into　Fourrierist



'phalanst鑢es；'　in　order　to　give　each　individual　as　nearly　as



possible　an　equal　share　of　mental　and　bodily　enjoyments；　but　to



perfect　the　productive　powers；　the　mental　culture；　the　political



condition；　and　the　power　of　whole　nationalities；　and　by　equalising



them　in　these　respects　as　far　as　is　possible；　to　prepare　them



beforehand　for　universal　union。　For　even　if　we　admit　that　under　the



existing　circumstances　of　the　world　the　immediate　object　which　its



apostles　had　in　view　could　be　attained　by　each　'phalanst鑢e；'　what



would　be　its　effect　on　the　power　and　independence　of　the　nation？



And　would　not　the　nation　which　was　broken　up　into　'phalanst鑢es；'



run　the　risk　of　being　conquered　by　some　less　advanced　nation　which



continued　to　live　in　the　old　way；　and　of　thus　having　its　premature



institutions　destroyed　together　with　its　entire　nationality？　At



present　the　Theory　of　Exchangeable　Values　has　so　completely　lost



its　influence；　that　it　is　almost　exclusively　occupied　with



inquiries　into　the　nature　of　Rent；　and　that　Ricardo　in　his



'Principles　of　Political　Economy'　could　write；　'The　chief　object　of



political　economy　is　to　determine　the　laws　by　which　the　produce　of



the　soil　ought　to　be　shared　between　the　landowner；　the　farmer；　and



the　labourer。'



　　　　While　some　persons　are　firmly　convinced　that　this　science　is



complete；　and　that　nothing　essential　can　further　be　added　to　it；



those；　on　the　other　hand；　who　read　these　writings　with



philosophical　or　practical　insight；　maintain；　that　as　yet　there　is



no　political　economy　at　all；　that　that　science　has　yet　to　be



constructed；　that　until　it　is　so；　what　goes　by　its　name　is　merely



an　astrology；　but　that　it　is　both　possible　and　desirable　out　of　it



to　produce　an　astronomy。



　　　　Finally；　we　must　remark；　in　order　not　to　be　misunderstood；　that



our　criticism　of　the　writings　alike　of　J。　B。　Say　and　of　his



predecessors　and　successors　refers　only　to　their　national　and



international　bearing；　and　that　we　recognise　their　value　as



expositions　of　subordinate　doctrines。　It　is　evident　that　an　author



may　form　very　valuable　views　and　inductions　on　individual　branches



of　a　science；　while　all　the　while　the　basis　of　his　system　may　be



entirely　erroneous。







N