an examination of our whole commercial policy for the
last thirty years, and shows the effect of protection in increasing the
sum of production and consumption, the means of transportation, internal
and external, and the influx of population from abroad, always an
evidence of the increased productiveness of labor. In this work it is
shown conclusively, that shipping grows with protection, because
protection tends to promote immigration, or the import of men, the most
valuable of commodities, and thus to diminish the cost of _sending_ to
market the less valuable ones, grain, tobacco, and cotton. The question
is examined in every point of view--material, moral, intellectual, and
political; and the result arrived at is, "that between the interests of
the treasury and the people, the farmer, planter, manufacturer and
merchant, the great and little trader and the ship-owner, the slave and
his master, the land-owners and laborers of the Union and the world, the
free-trader and the advocate of protection, there is perfect harmony of
interests, and that the way to the establishment of universal peace and
universal free trade, is to be found in the adoption of measures tending
to the destruction of the _monopoly of machinery_, and the location of
the loom and the anvil in the vicinity of the plough and the harrow."

In addition to the works I have named, Mr. Carey has published two
others, on the Currency--the larger of which is entitled _Credit System
in France, England, and the United States_. Their object is to show,
that there is a very simple law which lies at the root of the whole
currency question, and that by its aid the revulsions so frequently
experienced may be perfectly accounted for. That law is perfect freedom
of trade in money, whether by individuals or associations, leaving the
latter to make their own terms with their customers, and to assume
limited or unlimited liability, as they themselves may think most
expedient. In a detailed review of the operations of several of the
principal nations, and of all the States of this Union, it is shown that
the tendency to steadiness in the quantity, and uniformity in the
quality, of currency, is in the exact ratio of freedom, while with every
increase in the number or extent of restrictions, steadiness diminishes
and insecurity increases. The views contained in this work are now
adopted by some of the most eminent writers in France. They constitute
the basis of a recent an