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He was not much of an economist, but it was obvious that time and labor were wasted when a farmer took a few sacks of potatoes to the railway and another a sack of wool. There was no difficulty about the tender, because Osborn was chairman of the small Slate Company; the trouble was that the contract would help Bell to carry out another plan.
In the New World, no doubt, his energies would find a safer field, and even the adventurous and desultory habits of his childhood might there be put to healthful account. Those complaints of the disparities of the civilized world find, I suspect, an easier, if a bluffer, reply from the political economist than the Stoic philosopher.
The former owners worked in the field with their ex-slaves and thus provided steady employment for many. Farms were rented for a fixed sum of money, or for a part of the crop, or on "shares." * J. D. B. De Bow, the economist, testified before the Joint Committee on Reconstruction that, if the Negro would work, free labor would be better for the planters than slave labor.
Several of these periodicals are very ably conducted, and offer to their readers a large amount of valuable information; but I have noticed that the leaves of the more serious part often remain uncut. The translation of a sensation novel by the latest French or English favourite finds many more readers than an article by an historian or a political economist.
At the time of the break with the American colonies, Turgot, the great French economist, coined a phrase which has been accepted by the chancelleries of Europe as a truism: "Colonies are like fruit, when they become ripe they drop from the parent stem."
The Count de Tournon, an honest man, an excellent economist, a Conservative as to all existing powers, and a judge rather too much prejudiced in favour of the Popes, said, in 1832:
It is quite true that Mill, as an economist, was largely indebted to Ricardo; and he has so fully and frequently acknowledged the debt, that there is some danger of rating the obligation too highly.
I am as anxious as any banker or industrialist or business man or investor or economist that the budget of the United States Government be brought into balance as quickly as possible. But I lay down certain conditions which seem reasonable and which I believe all should accept.
The guiding principle of the ideologists was to apply reason to observed facts and eschew a priori deductions. Thinkers of this school had an influential organ, the Decade philosophique, of which J. B. Say the economist was one of the founders in 1794.
In all this I have supposed the ant-heap to be financially sound. I am no economist, only a writer of fiction; but even as such, I know one thing that bears on the economic question I know the imperfection of man's faculty for business.
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