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Updated: May 2, 2025
Hence the 'grand practical problem is to find the means of limiting the number of births. M'Culloch is equally clear, and infers that every scheme 'not bottomed on' the principle of proportioning labour to capital must be 'completely nugatory and ineffectual.
M'Culloch has asserted, totidem verbis, that the labour of Madame Pasta was as well entitled to be called productive labour as that of a cotton spinner.
Among the Indians his name was a word of terror; they cherished against him feelings of the most phrenzied hatred, and there was not a Mingo or Wyandotte chief before Fort Henry who would not have given the lives of twenty of his warriors to secure to himself the living body of Major M'Culloch.
Furthermore, its power over local banks and over the currency system made it unpopular in the West and South, and certain States sought to cripple it by taxing out of existence the several branches which the board of directors voted to establish. In two notable decisions M'Culloch vs. Maryland in 1819 and Osborn vs.
"Surgeon M'Culloch he likes the title," said Tom in a whisper "Surgeon, Captain Lorrequer. By the by, lest I forget it, he wishes to speak to you in the morning about his health; he is stopping at Sandymount for the baths; you could go out there, eh!" The tall thing in green spectacles bowed, and acknowledged Tom's kindness by a knowing touch of the elbow.
M'Culloch, at starting, insists in edifying terms upon the necessity of a careful and comprehensive induction, and of the study of industrial phenomena in different times and places, and under varying institutions. This, however, does not prevent him from adopting the same methods of reasoning.
Ricardo tells Malthus that an accumulation of profit does not, as Malthus had said, necessarily raise wages ; and he ultimately decided, much to the scandal of his disciple, M'Culloch, that an increase of 'fixed capital' or machinery might be actually prejudicial, under certain circumstances, to the labourer.
When Ricardo died, James Mill told M'Culloch that they were 'the two and only genuine disciples' of their common friend. Mill wrote what he intended for a Schoolbook of Political Economy. Brief, pithy, and vigorous, it purports to give the essential principles in their logical order; but, as his son remarks, had only a passing importance.
M'Culloch took a more important place by his writings in the Edinburgh Review and elsewhere, and by his lectures at Edinburgh and at London. He was one of the first professors of the new university. His Principles of Political Economy became a text-book, to be finally superseded by John Stuart Mill. Other works statistical and bibliographical showed great industry, and have still their value.
The goods of those who perished were confiscated, and their bodies were dismembered and distributed to different parts of the country; "the heads of Major M'Culloch and the two Gordons," it was resolved, says Kirkton, "should be pitched on the gate of Kirkcudbright; the two Hamiltons and Strong's head should be affixed at Hamilton, and Captain Arnot's sett on the Watter Gate at Edinburgh.
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