Let us now quote a passage from Adam Smith, from whom, among others, Malthus, in his preface to his second edition, acknowledges that he obtained the principle. The passage reads as follows:-"Every species of animal naturally multiplies in proportion to the means of their subsistence, and no species can ever multiply beyond it. But in civilized society, it is only in the inferior ranks of people that the scantiness of subsistence can set limits to further multiplication of the human species; and it can do so in no other way than by destroying a great part of the children which their fruitful marriages produce." We take the following also from the same page of the "Wealth of Nations:"-" In some places one-half of the children die before they are four years of age, and in many places before they are seven, and in almost all places before they are nine or ten," (book 1st, chap. 8th.)

Now we should really be obliged to Mr. Baird if he can point out the difference in principle between the passages we have quoted from Smith and Malthus, for it is more than we can undertake to do; and we hope to be excused for thinking that, if he had been better acquainted with the writings of Dr. Smith and "his followers of the English school," he would not have made such sweeping assertions. In fact, if Malthus, Ricordo, and the free traders are to be swept away, there will be nothing left of Smith. But Mr. Baird, in contradiction to his followers, pays Dr. Smith several very high compliments-among others, the following:"In the Wealth of Nations,' its author keeps in view, and makes reference from first to last, to the teachings of actual experience." This we take to be a fact, and think the compliment well deserved; we shall, therefore, endeavor to uphold our opponent's assertion upon this particular point. With respect to the excessive mortality among the children of the poor, Dr. Smith's observations are very correct-it prevails especially in large cities. It appears by the record of births and deaths in the city of New York, that nearly 40 per cent of the children die in the first year, and this mortality is increased to more than sixty per cent before attaining the age of five years. Infanticide and still births have also increased, within the half century, from two-and-a-half per cent to eight. But this rate is even slight, compared with some of the European cities. We find it stated in a London paper a few years ago, that a French surgeon had computed the mortality of the children born in the city of Lille-that in a certain quarter 96 per cent of the children born died before the age of three years; and it was also read from the tribune by the French Minister of the Interior, from an official document, that out of 21,000 children born in Manchester, (England) 20,700 died before attaining the age of five years-(98 per cent.) Thus we agree with Mr. Baird on two points-first that Dr. Smith, "in his teachings, had reference to actual experience," and secondly, "that over-population has really never existed;" but we cannot forget, that it is the children of the poor that are made the scape goats for the salvation of the rich; but denying the fact will not remedy the evil. What does it matter about Mr. Carey's "careful reference to the history of the world, to prove that man commenced the work of cultivation on the higher grounds, and then descended to the richer and heavier soils "the circumstance, whether true or false, is now not of the least consequence-but we think that Mr. Baird's admissions prove a little too much for his case. He says "with an increase of numbers, there is an increase of power of associa

tion, and an increase of wealth, and a constantly augmenting ability to obtain control over the rich heavy soils of the valleys and river bottoms." Now this is carefully worded, and rather non-committal; but we must be allowed to translate the passage.

The increase of numbers, of course, means a relative increase of people to production; power of association, &c., division of labor, invention of machinery, and consequent increase of circulating capital, which our opponent here calls wealth. These circumstances, then, enable society to cultivate the heavier soils, cheaper or more effective labor—a larger amount of circulating capital invested in various ways-draining, improved machinery, and emollients for the amelioration of the soil. It then resolves itself into a question of calculation, whether the extra crop more than compensates for the extra capital employed-if it does not, no part of society can possibly be benefited. On the contrary, if it does make more than a relative return, the land owner, as we have seen, is the only party benefieted. But why speculate further upon the matter, when the statistics of the last census of the United States, as well as those of England and all other countries, prove the fallacy of Mr. Carey's assumptions. He may still contend, "that of the yield of land capital receives an increasing quantity, arising out of an increasing yield, &c.; but in our opinion Mr. Baird has failed to show that Mr. Carey has one veritable fact to stand upon. He has himself virtually admitted the comparative decrease of the productions of the land in the United States; but he complains that we have "vainly attempted to prove a greater decline of fertility in those States, which have some manufacturers, than in those that have none." But Mr. Baird is mistaken in this matter. We certainly made no particular effort to prove anything; we merely stated the facts from the census report; but we certainly considered them sufficient. But we are told that capital receives an increasing remuneration, but a decreasing proportion, from this increased yield. It would be ridiculous, however, to controvert this assertion, as every one knows, who is at all acquainted with these subjects, that the rate of profit has a tendency to decrease in all countries, and in all ages, from causes already explained. But it is useless to follow the fallacies of Mr. Carey-we could quote Adam Smith by the page against them, and yet Mr. Baird tauntingly asks, "who more nearly approaches the position of teacher of these doctrines of Adam Smith, Mr. Carey, or myself?" Let us see. We now quote a short paragraph, respecting the proportion of rent, (from book 1st, chap. 9th-conclusion of chapter on rent.) In speaking of the increase of rent Dr. Smith says:-"That rise in the real price of those parts of the rude produce of land which is first the effect of extended improvement and cultivation, and afterwards the cause of being still further extended-the rise in the price of cattle, for example-tends, too, to raise the rent of land directly, and in a still greater proportion. The real value of the land owner's share, his real command of the labor of other people, not only rises with the real value of the produce, but the proportion of his share to the whole produce rises with it." If this paragraph had been written for the purpose of contradicting Mr. Carey's assumptions respecting the division of profit, it could not have been more concise,

nor

more complete. But let us show from actual circumstances that Dr. Smith's statement is correct, and consequently that Mr. Carey's assertions are unfounded. Let us quote from the December number of the

Merchants' Magazine, (page 747, "Commerce in Animals," &c.) The writer, speaking of the transportation of animals by railway, &c., makes the following remarks:

"The effect of this change has been to increase largely the number of cattle transported on railroads, and the number also carried to the eastern markets. This whole class of business is taken from the canals, steamboats, and common roads, and done by the railroads. Another effect, and a very important one, is to give better prices to western cattle raisers; for the reduction of freights is not taken off from New York prices, but is added to the first price of the cattle. This is curious, but is almost the universal effect of improved transportation. In fact, the rapid increase of town population causes the demand to be steadily pressing against the supply." There is, therefore, no opportunity for a fall in price at the point of consumption. If the supply is gradually increas-" ed by transportation, it is met by increased demand. The reduction on transportation, enures directly to the benefit of the producer; and the western farmer has received all the advantages accruing from the beneficial effects of railroads on the transportation of produce. Thus we have daily exemplification of the truth of Adam Smith's doctrines, "that every improvement in the circumstances of society tends, either directly or indirectly-to raise the real rent of land, to increase the real wealth of the landlord-his power of purchasing the labor or the produce of the labor of other people." Under these circumstances, shall we cease to follow our old guides, and take up with the new theory, that the supply of food increases faster than the demand? It makes no difference, whether the improvement takes place in the cultivation of the soil, or in machinery, or in transportation; it is all one, and tends to the unequal aggrandisement of the land owner. In this particular case, the western land owner has been benefited exclusively-the laborer in large cities, has gained nothing by improved transportation, and the land owner in the neighborhood has not been injured in the price of his produce. We must now endeavor to conclude, as briefly as possible, as our article is already too long.

Mr. Baird, in his last two or three paragraphs, boasts about Mr. Carey's harmonious and beautiful system; that by an appeal to facts he has entirely reversed that of Ricardo and Malthus. But if this be the case, which we are not yet quite prepared to admit, we think that Adam Smith and others must go along with them. But we have one thing more to state upon this subject, which seems rather to contradict our opponent's assumptions. In the "Daily Tribune," of the 29th October, 1859, we find a review of Mr. Carey's work upon "Social Science," from which the writer seems to quote liberally, and the following is, we presume, Mr. Carey's language:-"The power to maintain life, and that of procreation, antagonize each other, that antagonism tending perpetually toward the establishment of an equilibrium." But this is not Mr. Carey's Pegasus, if I may be allowed such a poetic allusion; it is evidently a horse of another color. We have hitherto been told, in opposition to Smith, Malthus, and Ricardo, that food increases faster than population. But we are now told that there is an antagonism between the power to maintain life and that of procreation.

In other words, which Mr. Baird has himself given us from Malthus, "population has a tendency to increase beyond the means of subsistence."

There is no mistake, then, in this-let us hear the friendly reviewer. He speaks as follows:-"It is, therefore, not by moral resistance and prudential restraint alone, that the ends of providential order are to be secured. A law woven into the very texture of the organs of reproduction, will maintain the social harmonies-a law by which mental activity, whether in literary, military, or trading life, is unfavorable to reproduction-a self-adjusting law, by which the reproductive power of man diminishes, as his various faculties are more and more stimulated into action." Mr. Carey has at last been forced to surrender at discretion, and to concede the main principle which Smith, Malthus, and others, have promulgated; and the one against which he has so long contended. Where are now his air built castles? They have "crumbled into naught, and left not a wreck behind."

But forsooth, we are to be indebted to a self-adjusting law, by which the reproduction of the human species is to be regulated independently of moral causes. We beg to be excused, however, for intimating, that, in our opinion, this is a mere speculation; and equally without foundation as Mr. Carey's former doctrine. Our opponents may talk glibly of atheism, but when did Sinith, or Malthus, or Ricardo, say anything equal to this in moral turpitude? To what does this new doctrine logically lead? It substitutes the law of blind necessity for that of moral accountability. But other questions arise. By what principle is this retrogressive law of life limited? Will the preponderance of the nervous system, and the continued increase of mental activity spoken of, relatively decrease, and finally destroy the physical or animal powers; and so, in the end, destroy the race altogether? Or will the world eventually realize Swift's Lilliput, where the inhabitants were only a few inches high, and reckoned their time by moons! In other words, will mankind dwindle in stature, and decrease in years? These questions are proposed in all seriousness, as our opponent may have an opportunity of replying to them. at his earliest convenience.

R. S.

Art. II. COMMERCIAL AND INDUSTRIAL CITIES OF THE UNITED STATES.

NUMBER LXXII.

NEW ORLEANS, LOUISIANA.

PROGRESS OF NEW ORLEANS-IMPORTS, EXPORTS, AND RECEIPTS-DOMESTIC TRADE-BANK LOANS— EXCHANGE TRANSACTIONS-EFFECT OF LOANS ON BUSINESS - RECEIPTS OF SPECIE-SPECIE IN BANK -REACTION IN TRADE ATTRACTS SPECIE- FLOWS UP THE MISSISSIPPI"-OPERATIONS OF STEAMRAILROADS AFFECT TRADE-COTTON GOES NORTH-SMALL RATIO OF BANK LOANS-MEXICAN SILVER -EXCHANGE DURING THE PAST YEAR-SEVERAL YEARS-MINT OPERATIONS-GOLD DEPOSITS - EFFECT OF NEW YORK ASSAY-OFFICE-MONEY FOR THE PAST YEAR-VALUE OF PRODUCTS LAST YEAR --RAILROAD ROUTES-TEHUANTEPEC STEAM PROPELLERS-VALUE OF COASTWISE TRADE-COTTONINCREASED VALUE-COURSE OF PRICES FOR PAST YEAR-TABLE OF CROPS AND COMPARATIVE VALUE -SUGAR-ENTIRE CROP-COURSE OF MARKET-PROGRESS OF PRODUCTION-TABLE OF CROPS AND VALUES-TOBACCO-STATE OF CROPS-PRODUCTION AND VALUE-FREIGHTS- RATES OF-NUMBER OF

ARRIVALS.

THE progress that has been made by New Orleans in commercial importance during the last ten years is somewhat remarkable, even in presence of the rapid develop.nent which all other sections of the country

have made in the same period of time. The exterior commerce of the city affords an illustration of this progress, and we have compiled the following table of imports and exports of that port, with the receipts from the interior, as given in the New Orleans Price Current during the period mentioned as follows:

1850...

1851.

1852. 1853. 1854..

IMPORTS AND EXPORTS AND RECEIPTS AT NEW ORLEANS.

--Exports.--

Foreign. Domestic.

Value of produce

from interior. Bank loans. $45,716,045 $48,646,799

96,897,873

18,602,649

19,300,108

1842.... $976,727 $27,427,422 $28,404,149 $8,033,590 407,073 37,698,277 88,105,350 10,760,499 445,950 53,968,013 54,413,963 12,528,460 106,924,088 250,716 48,808,169 49,058,885 12,057,724 108,051,708 21,286,804 523,934 67,768,724 68,292,658 13,630,686 134,233,785 29,320,582 255,265 60,656,587 60,981,852 14,422,154 115,336,798 27,142,907 1855.. 311,868 55,05,094 55,367,962 12,900,821 117,106,823 27,500,348 1856. 288,128 80,576,652 80,865,080 16,682,392 144,256,081 31,200,296 1857. 356,491 91,538,371 91,894,862 24,891,967 158,061,369 23,229,096 1858.. 605,771 88,270,224 88,875,993 19,586,033 167,155,546 29,619,278 1859... 775,803 99,759,649 100,734,952 18,349,516 172,952,664 25,608,485 The column of exports from New Orleans gives those to foreign ports only, while the "receipts from the interior" embrace not only the source of those exports, but of the considerable quantities sent coastwise in the course of the domestic trade. The banking loans at that period have maintained a remarkable uniformity in face of the increased business of the port. Those loans do not, however, embrace the exchange transactions, which reach a high figure in the spring and run down again in midsummer, following the course of the crops. In the last year they rose to over $10,000,000 in April, held by the banks, and fell to less than 2,000,000 in September. The result of larger exports of produce from that point, with a uniform amount of bank loans, seems to be an annually increasing import of the precious metals. If we compare the imports of specie with the amount held by the banks then the results are as follows:

The influx of specie has been the result of the increasing produce exports flowing from this point, which is the center of immense exchange operations. The panic of 1857, which checked purchases of goods, gave a new impulse to the receipts of specie at that point, and the "gold" has not failed "to flow up the Mississippi." Steam has not failed to extend the connection of New Orleans by water to the growing ports and markets of Central and South America, and by rail, more directly with all the producing sections of the West, greatly extending the area of production, which must find a market at that point. The operation of railroads also tends to alter the current of internal trade with the West, since much produce that formerly went exclusively to New Orleans by the river, now finds a market North by railroads. The cotton used by factories in western New York comes by the way of the Illinois Central Railroad," across lots," instead of making the circuit by the sea. If this tends to divert from New Orleans some of the trade that formerly de