r a manufacturing nation "to tax raw materials
was suicidal: let taxes be laid upon luxuries, upon vices, and, if you
like, upon property; tax riches when got, but not the means of getting
them. Of all things don't cut open the hen that lays the golden eggs."

Watt's services were enlisted and he drew up a paper for circulation
upon the subject. The policy failed, and soon after Pitt was converted
to sounder doctrines by Adam Smith's "Wealth of Nations." Free trade has
ruled Britain ever since, and, being the country that could manufacture
cheapest, and indeed, the only manufacturing country for many years,
this policy has made her the richest, per capita, of all nations. The
day may be not far distant when America, soon to be the cheapest
manufacturing country for many, as it already is for a few, staple
articles, will be crying for free trade, and urging free entrance to the
markets of the world. To tax the luxuries and vices, to tax wealth got
and not in the making, as proposed by Watt and Boulton, is the policy to
follow. Watt shows himself to have been a profound economist.

Watt had cause for deep anxiety for his eldest son, James, who had taken
an active part in the agitation. He and his friend, Mr. Cooper of
Manchester, were appointed deputies by the "Constitutional Society," to
proceed to Paris and present an address of congratulation to the Jacobin
Club. Young Watt was carried away, and became intimate with the leaders.
Southey says he actually prevented a duel between Danton and Robespierre
by appearing on the ground and remonstrating with them, pointing out
that if either fell the cause must suffer.

Upon young Watt's return, king's messengers arrived in Birmingham and
seized persons concerned in seditious correspondence. Watt suggests that
Boulton should see his son and arrange for his leaving for America, or
some foreign land, for a time. This proved to be unnecessary; his son
was not arrested, and in a short time all was forgotten. He entered the
works with Boulton's son as partner, and became an admirable manager.
To-day we regard his mild republicanism, his alliance with Jacobin
leaders, and especially his bold intervention in the quarrel between two
of the principal actors in the tragedy of the French Revolution, as "a
ribbon in the cap of youth." That his douce father did the same and was
proud of his eldest born seems probable. Our readers will also judge for
themselves whether the proud father had