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friend　may　perhaps　have　toiled　with　an　energy　quickened　by　the



enlarged　need；　but　in　the　end　his　own　land　and　property　must　have



suffered　by　the　withdrawal　of　so　much　of　his　time　and　thought



from　them：　and　the　united　property　of　the　two　men　will　be



certainly　less　than　it　would　have　been　if　both　had　remained　in



health　and　activity。



　　　　But　the　relations　in　which　they　stand　to　each　other　are　also



widely　altered。　The　sick　man　has　not　only　pledged　his　labour　for



some　years；　but　will　probably　have　exhausted　his　own　share　of　the



accumulated　stores；　and　will　be　in　consequence　for　some　time



dependent　on　the　other　for　food；　which　he　can　only　〃pay〃　or



reward　him　for　by　yet　more　deeply　pledging　his　own　labour。



　　　　Supposing　the　written　promises　to　be　held　entirely　valid



（among　civilized　nations　their　validity　is　secured　by　legal



measures（3*））；　the　person　who　had　hitherto　worked　for　both　might



now；　if　he　chose；　rest　altogether；　and　pass　his　time　in　idleness；



not　only　forcing　his　companion　to　redeem　all　the　engagements　he



had　already　entered　into；　but　exacting　from　him　pledges　for



further　labour；　to　an　arbitrary　amount；　for　what　food　he　had　to



advance　to　him。



　　　　There　might　not；　from　first　to　last；　be　the　least　illegality



（in　the　ordinary　sense　of　the　word）　in　the　arrangement；　but　if　a



stranger　arrived　on　the　coast　at　this　advanced　epoch　of　their



political　economy；　he　would　find　one　man　commercially　Rich；　the



other　commercially　Poor。　He　would　see；　perhaps；　with　no　small



surprise；　one　passing　his　days　in　idleness；　the　other　labouring



for　both；　and　living　sparely；　in　the　hope　of　recovering　his



independence　at　some　distant　period。



　　　　This　is；　of　course；　an　example　of　one　only　out　of　many　ways



in　which　inequality　of　possession　may　be　established　between



different　persons；　giving　rise　to　the　Mercantile　forms　of　Riches



and　Poverty。　In　the　instance　before　us；　one　of　the　men　might　from



the　first　have　deliberately　chosen　to　be　idle；　and　to　put　his



life　in　pawn　for　present　ease；　or　he　might　have　mismanaged　his



land；　and　been　compelled　to　have　recourse　to　his　neighbour　for



food　and　help；　pledging　his　future　labour　for　it。　But　what　I　want



the　reader　to　note　especially　is　the　fact；　common　to　a　large



number　of　typical　cases　of　this　kind；　that　the　establishment　of



the　mercantile　wealth　which　consists　in　a　claim　upon　labour；



signifies　a　political　diminution　of　the　real　wealth　which



consists　in　substantial　possessions。



　　　　Take　another　example；　more　consistent　with　the　ordinary



course　of　affairs　of　trade。　Suppose　that　three　men；　instead　of



two；　formed　the　little　isolated　republic；　and　found　themselves



obliged　to　separate；　in　order　to　farm　different　pieces　of　land　at



some　distance　from　each　other　along　the　coast：　each　estate



furnishing　a　distinct　kind　of　produce；　and　each　more　or　less　in



need　of　the　material　raised　on　the　other。　Suppose　that　the　third



man；　in　order　to　save　the　time　of　all　three；　undertakes　simply　to



superintend　the　transference　of　commodities　from　one　farm　to　the



other；　on　condition　of　receiving　some　sufficiently　remunerative



share　of　every　parcel　of　goods　conveyed；　or　of　some　other　parcel



received　in　exchange　for　it。



　　　　If　this　carrier　or　messenger　always　brings　to　each　estate；



from　the　other；　what　is　chiefly　wanted；　at　the　right　time；　the



operations　of　the　two　farmers　will　go　on　prosperously；　and　the



largest　possible　result　in　produce；　or　wealth；　will　be　attained



by　the　little　community。　But　suppose　no　intercourse　between　the



landowners　is　possible；　except　through　the　travelling　agent；　and



that；　after　a　time；　this　agent；　watching　the　course　of　each　man's



agriculture；　keeps　back　the　articles　with　which　he　has　been



entrusted　until　there　comes　a　period　of　extreme　necessity　for



them；　on　one　side　or　other；　and　then　exacts　in　exchange　for　them



all　that　the　distressed　farmer　can　spare　of　other　kinds　of



produce：　it　is　easy　to　see　that　by　ingeniously　watching　his



opportunities；　he　might　possess　himself　regularly　of　the　greater



part　of　the　superfluous　produce　of　the　two　estates；　and　at　last；



in　some　year　of　severest　trial　or　scarcity；　purchase　both　for



himself　and　maintain　the　former　proprietors　thenceforward　as　his



labourers　or　servants。



　　　　This　would　be　a　case　of　commercial　wealth　acquired　on　the



exactest　principles　of　modern　political　economy。　But　more



distinctly　even　than　in　the　former　instance；　it　is　manifest　in



this　that　the　wealth　of　the　State；　or　of　the　three　men　considered



as　a　society；　is　collectively　less　than　it　would　have　been　had



the　merchant　been　content　with　juster　profit。　The　operations　of



the　two　agriculturists　have　been　cramped　to　the　utmost；　and　the



continual　limitations　of　the　supply　of　things　they　wanted　at



critical　times；　together　with　the　failure　of　courage　consequent



on　the　prolongation　of　a　struggle　for　mere　existence；　without　any



sense　of　permanent　gain；　must　have　seriously　diminished　the



effective　results　of　their　labour；　and　the　stores　finally



accumulated　in　the　merchant's　hands　will　not　in　any　wise　be　of



equivalent　value　to　those　which；　had　his　dealings　been　honest；



would　have　filled　at　once　the　granaries　of　the　farmers　and　his



own。



　　　　The　whole　question；　therefore；　respecting　not　only　the



advantage；　but　even　the　quantity；　of　national　wealth；　resolves



itself　finally　into　one　of　abstract　justice。　It　is　impossible　to



conclude；　of　any　given　mass　of　acquired　wealth；　merely　by　the



fact　of　its　existence；　whether　it　signifies　good　or　evil　to　the



nation　in　the　midst　of　which　it　exists。　Its　real　value　depends　on



the　moral　sign　attached　to　it；　just　as　sternly　as　that　of　a



mathematical　quantity　depends　on　the　algebraical　sign　attached　to



it。　Any　given　accumulation　of　commercial　wealth　may　be



indicative；　on　the　one　hand；　of　faithful　industries；　progressive



energies；　and　productive　ingenuities：　or；　on　the　other；　it　may　be



indicative　of　mortal　luxury；　merciless　tyranny；　ruinous　chicane。



Some　treasures　are　heavy　with　human　tears；　as　an　ill…stored



harvest　with　untimely　rain；　and　some　gold　is　brighter　in　sunshine



than　it　is　in　substance。



　　　　And　these　are　not；　observe；　merely　moral　or　pathetic



attributes　of　riches；　which　the　seeker　of　riches　may；　if　he



chooses；　despise；　they　are；　literally　and　sternly；　material



attributes　of　riches；　depreciating　or　exalting；　incalculably；　the



monetary　signification　of　the　sum　in　question。　One　mass　of　money



is　the　outcome　of　action　which　has　created；　another；　of　action



which　has　annihilated；　　ten　times　as　much　in　the　gathering　of



it；　such　and　such　strong　hands　have　been　paralyzed；　as　if　they



had　been　numbed　by　nightshade：　so　many　strong　men's　courage



broken；　so　many　productive　operations　hindered；　this　and　the



other　false　direction　given　to　labour；　and　lying　image　of



prosperity　set　up；　on　Dura　plains　dug　into　seven…times…heated



furnaces。　That　which　seems　to　be　wealth　may　in　verity　be　only　the



gilded　index　of　far…reaching　ruin：　a　wrecker's　handful　of　coin



gleaned　from　the　beach　to　which　he　has　beguiled　an　argosy；　a



camp…follower's　bundle　of　rags　unwrapped　from　the　breasts　of



goodly　soldiers　dead；　the　purchase…pieces　of　potter's　fields；



wherein　shall　be　buried　together　the　citizen　and　the　stranger。



　　　　And　therefore；　the　idea　that　directions　can　be　given　for　the



gaining　of　wealth；　irrespectively　of　the　consideration　of　its



moral　sources；　or　that　any　general　and　technical　law　of　purchase



and　gain　can　be　set　down　for　national　practice；　is　perhaps　the



most　insolently　futile　of　all　that　ever　beguiled　men　through



their　vices。　So　far　as　I　know；　there　is　not　in　history　record　of



anything　so　disgraceful　to　the　human　intellect　as　the　modern　idea



that　the　commercial　text；　〃Buy　in　the　cheapest　market　and　sell　in



the　dearest；〃　represents；　or　under　any　circumstances　could



represent；　an　available　principle　of　national　economy。　Buy　in　the



cheapest　market？　yes；　but　what　made　your　market　cheap？　Charcoal



may　be　cheap　among　your　roof　timbers　after　a　fire；　and　bricks　may



be　cheap　in　your　streets　after　an　earthquake；　but　fire　and



earthquake　may　not　therefore　he　national　benefits。　Sell　in　the



dearest？　　Yes；　truly；　but　what　made　your　market　dear？　You　sold



your　bread　well　to…day：　was　it　to　a　dying　man　who　gave　his　last



coin　for　it；　and　will　never　need　bread　more；　or　to　a　rich　man　who



to…morrow　will　buy　your　farm　over　your　head；　or　to　a　soldier　on



his　way　to　pillage　the　bank　in　which　you　have　put　your　fortune？



　　　　None　of　these　things　you　can　know。　One　thing　only　you　can



know：　namely；　whether　this　dealing　of　yours　is　a　just　and



faithful　one；　which　is　all　you　need　concern　yourself　about



respecting　it；　sure　thus　to　have　done　your　own　part　in　bringing



about　ultimately　in　the　world　a　state　of　things　which　will　not



issue　in　pillage　or　in　death。　And　thus　every　question　concerning



these　things　merges　itself　ultimately　in　the　great　question　of



justice；　which；　the　ground　being　thus　far　cleared　for　it。　I　will



enter　upon　the　next　paper；　leaving　only；　in　this；　three　final



points　for　the　reader's　consideration。



　　　　It　has　been　shown　that　the　chief　value　and　virtue　of　money



consists　in　its　having　power　over　human　beings；　that；　without



this　power；　large　material　possessions　are　useless；　and　to　any



person　possessing　such　power；　comparatively　unnecessary。　But



power　over　human　beings　is　attainable　by　other　me