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The daintiest viands crown your social Van. No, they brought new customs and boards ;
new vices over, Fruits that still ripen beneath golden suns; Taught us more wants than hopest men Quick sparkling wine that dances in the require, eye ;
And gave us wants that nature never knew. And women-ah how lovely! Yet shame, Val. We found you nakedshame!
Van. And you found us free. You leave the harvest all unreap'd at home, Val, Would you be patient once and To glean the scanty produce of our wastes; hear me out. And like an envious churl grasping at all, Van. Speak things that honest men may Whose eye still hungers, though his hands hear with temper, are full,
Speak the plain truth, and varnish not your Quit the encumbering fleeces of his flock
crimes; To shear the poor man's lamb.
Say that you once were virtuous-long ago Gov. With what an eye
A frugal, hardy people, like the Britons, You look upon our purposes ! We came Before you grew thus elegant in rice, To enrich, and not to empoverish this do- And gave your luxuries the name of sit.
main. Ray. Yes, as the bee brings honey to The civilizers the disturbers say : the flower,
The robbers, the corrupters of mankind, Or locusts vegetation. To enrich us! Proud vagabonds ! who make the world Your pardon, Sir. Out of pure charity
your home, You have cross'd the ocean ; kindly came And lord it where you have no right. To pour the rich o'erflowings of your cup What virtue have you taught? Into our empty chalice. Have you then Vala Humanity. No work for your benevolence at home? Van, Oh patience! &c. No ignorance to school? No sharp disease That cannot find a hospital of mercy ? We can make room for no other No sighs to hushi-no tears to wipe away extract from the opera “ Yours or Of your poor fellow-countrymen ? Believe Mine,” but the following pretty song
of a love-sick maid. Your nation, Sir, may find a home con. sumption
The flower enamour'd of the sun, For all the human kindness it
exports. At his departure hangs her head and weeps, Gov. Still you will warp our purposes And shrouds her sweetness up, and keeps from the truth.
Sad vigils like a cloister'd nun, We came to do you service ; to exchange Till his reviving ray appears, Our wealth for yours in honourablc traffic; Waking her beauty as he dries her tears. To soften, to inform, to civilize.
Ray. To civilize! Peru and Mexico ! Pizarro! Cortez! witness ye the deed ! We cannot agree with Miss BenYet they had human shape, and bore God's ger, that “ The Fisherman possesses image.
better claims to originality than the Oh, what a wilderness of human bones You made of that terrestrial paradise !
majority of Mr Tobin's dramatic Hell gave the word, and havoc was un
pieces.” We had not proceeded for sheath'd ;
in the perusal of it, till we were forRivers ran blood into the frighted sea ;
cibly reminded of the Merry Wives of Earth was a common sepulchre ! the sun,
Windsor. Instead of jolly Sir John Thro' the hot steam of human massacre,
and the frolicksome ladies, we have a Look'd pale; whilst o'er the dying and the Jew and a judge paying their addead
dresses separately and clandestinely The vultures hov'ring on the tainted air to Martha, sister of Nicolino the Scream'd their wild raptures to the fa- fisherman ; and instead of the basket mish'd wolves.
and the river, we have a press transNow, though there is no compari
ported from a cottage to a ball-room son between the fine dramatic impe
by the contrivance of Martha, for the tuosity of the dialogue of the Roman purpose of exposing her lovers, the and the Briton, and that which we Jew and the Judge, the more comhave quoted, eloquent certainly though pletely, who, by the revengeful art of it be, from the Spanish governor and their mistress, had been thus iminured. the Indian chief; yet, in other re
The main design of the piece, howspects, the resemblance obtrudes it. ever, is the courtship of the Countess self on our notice.
of Modena by Durazzo and Rosano;
her rape by the former, whose suit Pal. Did not the Romans civilize you? she had rejected and her recovery by
DERED WITH A
the latter, to whom she was ultimate by the cost of its production, it is ly united. Many of the scenes of plain, that, if the producers of any the Fisherman' appear to us, more- species of goods be not indemnified over, extremely indelicate; but per- for the sacrifice of capital and labour haps some people will think that the made in bringing them to market, revival of our old comedy, Mr Tobin's their production must cease; and, on aim throngh life, cannot take place the other hand, if they receive more without a sprinkling of those naked than a fair indemnification, there will pictures of nature which abound in be an influx of capital to this branch, our Fletchers and our Massingers. If and competition will soon sink the that be so, which does not seem quite price to its proper level. Although, a necessary, consequence, we would therefore, the actual cost of commodis rather recommend it to our modern ties in the market should seldom codramatic poets to let the prisca comae- incide exactly with the cost of their dia alone.
production, they can never, for any Eupolis atque Cratinus, Aristophanesque And, as the discrepancy between them
considerable period, be far separated : poetæ,
has a constant and necessary tendency will do very well of themselves, with- to disappear, they may, without occaout any imitators.
sioning any material error, be suppos-, ed, in theoretical inquiries, to march
abreast, or to increase and diminish REMARKS ON MALTHUS'S PRINCIPLES in the same proportion. OF POLITICAL ECONOMY, CONSI
The great and fundamental proVIEW to their blem in the science of political econoPRACTICAL APPLICATION.
my is, therefore, to ascertain the ele
ments which constitute the cost of The justly merited reputation of production, or the natural price of the celebrated author of the present commodities. Until we are in poswork--the great and increasing im- session of correct opinions on this subportance of the science of which it ject, almost all our inquiries into other treats and an understanding that it branches of the science must be conwas chiefly to be devoted to a defence ducted on erroneous principles. of those parts of the “ Wealth of Na Dr Smith was of opinion, that, in tions” which, in our opinion, had' that early and rude state of society been so very successfully controverted which precedes both the accumulation by Mr Ricardo and other late writers, of stock and the appropriation of land, made us 'look forward with anxious the proportion between the quantities expectation to the period of its public of labour necessary for acquiring difa cation. This feeling, we are satisfied, ferent objects was the only circumwe only shared in common with our stance which could afford any rule for more intelligent readers ; and we have, exchanging them with each other. therefore, to regret that our narrow But Dr Smith, and with him every limits preclude the possibility of give other political economist down to Mr ing any thing like an extended or com- Ricardo, were of opinion, that, after plete view of the reasoning by which capital had been accumulated, and af. Mr Malthus has attempted to sup- ter land had been appropriated and port the conclusions of Dr Smith, and yielded a rent, profits and rent would obliges us, for the present, to confine form component parts of price; and our observations exclusively to those that the real price of commodities points which are of the greatest im- would not only rise and fall accordportance.
ing to the greater or less quantity of Without stopping to examine, as labour necessary to their production, Mr Malthus has done at very great but also according to a rise or fall in length, whether it would be inore the rate of wages, the rate of profit, correct to say, that the exchangeable and the rent of land. This, with value of a commodity is determined some slight shades of difference, is by the state of supply and demand, or also the theory of Mr Malthus.
Mr Ricardo, who contends that the
same principle which regulates the vaBy the Rev. T. R. Malthus, Lon. lue of commodities in the rudest states don, 1820.
of society, continues to regulate it in
the most improved, admits, what is in the rate of wages. The stockinge indeed a necessary consequence of his manufacturer could not urge the cir. theory, that their relative values will cumstance of his paying a greater avary according to the different pro- mount of wages as a reason why the portions in which fixed and circulat- glove-manufacturer should give him ing capital are employed in their pro- more gloves in exchange for his stockduction ; and he also shows how, ac- ings; for the latter would have it in cording to his theory, they must vary his power to reply, that the same rise in their relative values, from a varia- affected him to precisely the same ex. tion in the rate of wages: But he con- tent. It is clear, therefore, on the tends, that a rise of wages is in no slightest consideration, that there is a case accompanied by a rise in the real very large class of commodities whose price of any commodity, but, on the value relatively to each other cannot contrary, that a rise of wages must, be affected by a rise or fall of wages. in the great majority of cases, occa It is a consequence of Mr Ricardo's sion a fall of prices. This is a fundae theory, that the real price of a commental position in Mr Ricardo's the-modity is not increased by a rise of ory; and, if it could be overthrown, wages, that this rise must fall entirely the whole would fall to the ground. on the profits of stock, which must,
But, after bestowing every atten- therefore, vary inversely as wages, tion in our power on the plausible that is, they must rise as wages fill
, and ingenious arguments by which and fall as wages rise. But, in order Mr Malthus has attempted to show, to show that the principle from which that a rise of wages must, in the this necessary consequence is deduced greater number of cases, occasion a cannot be correct, Ar Malthus conrise in the price of commodities, and tends, that, in all that extensive class consequently that an increase in the of commodities in which the proporquantity of labour necessary to the tion which the value of the capital production of a commodity cannot, bears to the quantity of labour which after capital has been accumulated, it employs is very small, it would be form the only cause of its increasing impossible to deduct a considerable in absolute price, we must say, that rise of wages out of profits, and that, they appear to us to be altogether if the price of such commodities did inconclusive, and, in fact, to afford a not rise, their production would have new and firm support to the theory to be given up. This is the objection they were intended to overturn. on which Mr Malthus lays his greatCommodities, it is acknowledged on est stress; and, if it can be shown to all hands, are in every case purchased be ill-founded, it will be a very easy by commodities. Now, if we sup- matter indeed to set aside the remainpose that commodities are all either der. manufactured by machinery, or fixed It is allowed that capital may be capital of the same durability, or by expended in carrying on different day labour, or circulating capital re- branches of industry, so as, in some turnable in equal periods, it is clear, few cases, to be replaced in so short and is, indeed, distinctly admitted by a space as a day, and in others not Mr Malthus, that no rise of wages perhaps in less than a hundred years. could vary their relation to each other, in the first case, a very small capital or raise their price. If two manufac- expended in wages, and returnable turers employ each a certain number every evening, would set a very great of men at 1s. a-day, the one in the quantity of labour in motion ; and it manufacture of stockings and the other is maintained by Mr Malthus, that it of gloves, it is obviously impossible would be impossible to deduct any that a rise of wages from 1s. to 1s. 6d. considerable rise of wages out of this or even to 20s. could effect any altera- trifling capital, and that, therefore, tion in the comparative value of stock. when wages rise, such commodities ings and gloves. If ten pairs of stock- would have to rise in absolute price. ings were previously worth ten pairs Mr Ricardo, on the other hand, conof gloves, they would continue to pre- tends, that a rise of wages would not serve this proportion to each other, raise the price of such commodities, until the quantities of labour neces- but that it would sink the price of all sary to their production were changed, other commodities, precisely according whatever fluctuations might take place to the greater or less degree in which
fixed and circulating capital entered ed by the rise of wages : ft is plain, into their production. This, we be- therefore, that they would have to lieve, is an accurate statement of the fall; for if they did not fall, the prodifference of the theories of these two prietors of the machines would obtain great economists on this fundamental more than the general and average rate point; and we shall now proceed to of profit, and capital would, of course, state the reasons which induce us to immediately begin to be attracted to give our unqualified and unhesitating wards their peculiar department, and assent to that of Mr Ricardo.
would inevitably continue flowing in In the first place, it is plain, from that direction, until competition had what we have already stated, that to sunk prices to their proper level ; so whatever extent wages might rise, it that the equilibrium of profit, which would be impossible for the producers a rise of wages would, in the first inof any species of commodities, whether stance, derange, would most unquesthe capitals employed in their pro- tionably be restored, not by a rise, but duction were returnable in a day, a by a fall of prices. week, or any other period, to obtain a It may, perhaps, be contended, that larger share of the commodities pro- although the class of commodities duced by others of the same class, that which was least of all affected by a is, whose capitals were returnable in rise of wages could not rise in price, equal periods with their own. Sup- the intermediate classes might nota pose wages to rise 10 per cent., that withstanding rise; this, however, would not enable the holder of a capi- could not really be the case. Take tal, which was returned every day or the second class of commodities, or every hour, to obtain an additional such as are produced by capitals of value in exchange for his commodie the next degree of durability to those ties, from such of his fellow capitalists which are consumed and reproduced as were in precisely the same situation in the least space of time, it is plain as himself. This is as absolutely im- they cannot rise in absolute price by possible as it is to change the relation means of a rise of wages, for they are of proportional numbers by multiply, less affected by this rise than those ing them all by the same number; below them ; but the same reason and, therefore, it cannot be true that which shows they cannot rise in price, a rise of wages will raise the price of also shows they must fall; for, as they any one commodity as compared with are less affected than those below them all other commodities.
by a rise of wages, their comparative But, in the second place, although value must decline, in order to prethat class of producers whose capitals serve the natural and indestructible are entirely circulating will not, when equilibrium of profit. wages rise, obtain a larger share of The case, therefore, which Mr Maleach other's products, they will obtain thus has selected to prove the fallacy a larger share of the produce of those of Mr Ricardo's theory, affords a strikwhose capitals are either wholly fixed, ing example of its truth. No rise of or partly fixed and partly circulating. wages ever leads to a rise of prices. They will not, however, obtain this It occasions a variation in the relative increased share because of a rise in the value of com
ommodities, but this is value of their own produce, but be- brought about by a reduction of their cause of a fall in the value of the pro- prices according to the different deduce belonging to those whose capitals grees of durability of the capitals emare more durable. It is easy to show ployed in their production. When that this is the true state of the case. wages rise, the price of those commoTake, for example, the class of com- dities which are placed at the bottom modities produced by the sole agency of scale, or which are produced by the of fixed capitals or machinery, calcuc agency of the most rapidly returnable lated to last 100 years, and which we capitals, continues unaffected; the have supposed to be the extreme li- next class declines a little, say 1 per mit of duration. When wages rise, cent.; the third a little more, or 2 per this class of commodities cannot vary cent.; the fourth 3 per cent., and so on. in value relatively to each other, nei- In our crowded columns, it is imposther can they rise in value as compare sible to give such an extension to this ed with any other class ; for, by the reasoning as should make it readily be hypothesis, they are least of all affecta comprehended by the generality of
our readers; but the have be- calculated upon the effect her languid stowed any attentio! wh inqui- glances and tender sighs would have ries, will, we trust, be patisfied, that upon the poor Bystander. For seveit completely answers the objection of ral succeeding days the unpleasing viMr Malthus.
sion appeared to float before my eyes; "Thus it appears," to use the words and ever and anon the reeling figures of Mr Ricardo, " that in proportion seemed to grin and point in derision to the quantity and durability of the at him who had just declared that the fixed capital employed in any kind of nineteenth century is the age of puriproduction, the relative prices of those ty. This disagreeable species of Vero commodities on which such capital is tigo has caused a revulsion in my employed will vary inversely as wages; mental system, which has been prothey will fall as wages rise. It ap- ductive of very unpleasant consepears, too, that no commodities what- quences. Instead of regarding what
are raised in absolute price, is passing around me with the calm merely because wages rise; that they eye of satisfaction, the cloud of disapnever rise unless additional labour be probation has been, for some weeks bestowed on them; but that all com- past, lowering on my brow. I see modities, in the production of which things through what I at present confixed capital enters, not only do not ceive to be a clearer medium ; objects rise with a rise of wages, but abso, which formerly presented a uniform lutely fall."
surface of unsullied white, now apBut we must have done. Notwith- pear mottled over with specks; what, standing we feel the completest con- formerly appeared allowable, now viction that Mr Malthus has attempt seems folly, and follies are maguified ed to support a system which is radio into faults. cally unsound, we willingly admit, I give my friends this bulletin of that, in doing so, he has displayed my mental health, lest they should great talent,
feel at a loss to account for a change
which I suspect they will perceive in Si Pergama dextra Defendi possent, etiam hac defensa fuis
the tone of my speculations; that if
I quit the major mode of cheerful sent;
congratulation, and sink into the low and that his book contains much tru- and plaintive key of regret, they may ly valuable and profound discussion. not impute the abrupt modulation to As there is very little difficulty in caprice, or the unprepared discord to comprehending a theory which lays ill-humour. down that prices must always vary It is now two months since I introdirectly as wages, rent, and profits, it duced myself to the public, and I is likely, we think, to be pretty po- have not yet given them so much as a pular. This, however, only increases hint that I ever stirred beyond the our regret that so high an authority boundary of my native country. In as Mr Malthus should have given the this, as in many others of my habits
, sanction of his name to errors infect- they may see that I am one of the old ing and vitiating the first principles school ; as it seems a received opinion of so important a science, and that he in the present day, that a man who should be quoted as the strenuous de- has been in France, or Italy, or Gerfender of the worst part of our exclu- many, or Spain, ought not to be ten sive commercial system,—we mean minutes in company with any one, the corn laws.
without telling him of the circumstance. Travelled gentlemen ever seem to think it would argue a, want
of confidence and generosity did No. III.
they not tell you all they had seen
and heard, did they not communicate Although I doubt not but a waltze all the knowledge they acquired, or ing lady calculates
might have acquired,'“ when they Qual sin l'effetto
were abroad.” The number of these D'un sguardo languido, d'un sospiretto,
orators, however, seems to be yearly
diminishing. The poor youth who I venture to say that no performer in has been only at Paris cannot find a the spectacle I was lately a witness to single auditor, for every body has