DOI Page / Citation link:
https://doi.org/10.11588/diglit.22140#0018
2 INDUSTRIAL AND COMMERCIAL HISTORY.
economical progress runs, which is more persistent and more
menacing, than the maintenance or even the insinuation of this
doctrine is. It is the key to those protectionist fallacies under
which the sustentation of particular interests is made a national
policy, and the mass of mankind is constrained to suffer in order
that a few may be enriched. It is the ground on which the
worst vices of our land system are defended, and British agri-
culture is in ruins. It has not a little to do in this country with
the clamour of the unemployed, and the wild schemes which are
promulgated about the reconstruction of society. Nor is this vice
confined to selfish agitators, like the Fair Trade people, or to in-
terested sycophants, who try to gain popularity by defending
abuses, or to the numerous adventurers who seek to get a hearing
by ssattering social and economical vices. Some of you may
remember how vigorously Bentham dealt with the optimism of
Blackstone, and his defence of the mass of chicanery to which
law pleading had been degraded. In political economy much
of this mischievous nonsense was written by MacCulloch, whose
general arrogance was in curious and instinctive contrast with
his habitual servility towards certain persons and certain interests.
But the maintenance of economic truth is a very serious and
urgent duty. As time goes on practical politics become increas-
ingly the solution of economic problems, and they who wilfully
or ignorantly mislead nations, or pander to the inherent vices of
administrations, are among the worst enemies of mankind ; just
as, on the other hand, the wise economist, who does not allow
himself to be swayed by prejudice, or mere partisanship, or
authority, is a true benefactor.
Now the present position of Great Britain—I wish I could
say the United Kingdom—is set out very clearly in a work which
I have more than once commended to you, the second volume of
Mr. Giffen's essays. It is true that this very able analyst of
economical facts was engaged when he wrote this work in contro-
verting some unfounded and invidious statements, which had
been promulgated by ignorance or selfishness. It was not, it
appears, his immediate business to point out what are the weak
parts of our social or industrial system, but to show that certain
allegations were baseless or false. Nor do I intend in the present
economical progress runs, which is more persistent and more
menacing, than the maintenance or even the insinuation of this
doctrine is. It is the key to those protectionist fallacies under
which the sustentation of particular interests is made a national
policy, and the mass of mankind is constrained to suffer in order
that a few may be enriched. It is the ground on which the
worst vices of our land system are defended, and British agri-
culture is in ruins. It has not a little to do in this country with
the clamour of the unemployed, and the wild schemes which are
promulgated about the reconstruction of society. Nor is this vice
confined to selfish agitators, like the Fair Trade people, or to in-
terested sycophants, who try to gain popularity by defending
abuses, or to the numerous adventurers who seek to get a hearing
by ssattering social and economical vices. Some of you may
remember how vigorously Bentham dealt with the optimism of
Blackstone, and his defence of the mass of chicanery to which
law pleading had been degraded. In political economy much
of this mischievous nonsense was written by MacCulloch, whose
general arrogance was in curious and instinctive contrast with
his habitual servility towards certain persons and certain interests.
But the maintenance of economic truth is a very serious and
urgent duty. As time goes on practical politics become increas-
ingly the solution of economic problems, and they who wilfully
or ignorantly mislead nations, or pander to the inherent vices of
administrations, are among the worst enemies of mankind ; just
as, on the other hand, the wise economist, who does not allow
himself to be swayed by prejudice, or mere partisanship, or
authority, is a true benefactor.
Now the present position of Great Britain—I wish I could
say the United Kingdom—is set out very clearly in a work which
I have more than once commended to you, the second volume of
Mr. Giffen's essays. It is true that this very able analyst of
economical facts was engaged when he wrote this work in contro-
verting some unfounded and invidious statements, which had
been promulgated by ignorance or selfishness. It was not, it
appears, his immediate business to point out what are the weak
parts of our social or industrial system, but to show that certain
allegations were baseless or false. Nor do I intend in the present