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• Essays On Economics and Society 1850–1879
• The Savings of the Middle and Working Classes 1850
• The Regulation of the London Water Supply 1851
• Newman’s Political Economy 1851
• The Law of Partnership 1851
• The Income and Property Tax 1852
• The Bank Acts 1857
• The Income and Property Tax 1861
• Currency and Banking 1867
• Endowments 1869
• Thornton On Labour and Its Claims 1869
• Leslie On the Land Question 1870
• Land Tenure Reform 1871
• Property and Taxation 1873
• Chapters On Socialism 1879
• Editor’s Note
• Chapters On Socialism
• Preliminary Notice
• Introductory
• Socialist Objections to the Present Order of Society
• The Socialist Objections to the Present Order of Society Examined
• The Difficulties of Socialism
• The Idea of Private Property Not Fixed But Variable
• Appendices
• Appendix A: Mcculloch’s Discourse On Political Economy (1825)
• Appendix B: Petition On Free Trade (1841)
• Appendix C: Examination Paper In Political Economy Set By Jsm (1872)
• Appendix D: Land Tenure Reform Association: Public Lands and Commons Bill (1872)
• Appendix E: Bibliographic Index of Persons and Works Cited In the Essays, With Variants and Notes

Appendix A

McCulloch’s Discourse on Political Economy (1825)

if there is one sign of the times upon which more than any other we should be justified in resting our hopes of the future progression of the human race in the career of improvement, that sign undoubtedly is, the demand which is now manifesting itself on the part of the public for instruction in the science of Political Economy. It is unnecessary for us to bring forward any evidence to prove the existence of this demand—the fact is sufficiently notorious. It is equally notorious, that considerable respect is now paid by the more enlightened portion of our administration to the great principles of the science; that many members of the House of Commons are beginning to be familiar with the demonstrations by which those principles are established; and that those who have inherited the ignorance of their ancestors with their estates, have of late been obliged, however ungraciously, on many occasions, by the force of public opinion, to bow down to others who have less reverence for the errors of the past. And yet, surprising as it may appear, it is no less notorious, that up to the year 1818, the science of political economy was scarcely known or talked of beyond a small circle of philosophers, and that legislation, so far from being in conformity with its principles, was daily receding from them more and more.

At that time all the most important principles contained in the science had been clearly demonstrated, and the materiel for the formation of a regular system was collected. A long interval elapsed after the publication of the Wealth of Nations, in 1776, without any thing worth mentioning being contributed to the science. In 1798 appeared Malthus’s Essay upon the Principle of Population; in 1802, Mr. Say’s work;^[*] in 1815, two Essays upon the Nature of Rent;^[†] and in 1817, Mr. Ricardo’s profound work upon the Principles of Political Economy and Taxation; and finally, in 1821, Mr. Mill’s Elements of Political Economy.

The attention of those who wish to see an amelioration in the condition of the great mass of mankind ought henceforward to be mainly directed to the means of communicating to all that which is now known only to a few. The principal difficulty is overcome—the road to happiness is discovered—no groping, no perplexing research, no hopeless, thankless toil is required—all that remains to be done is, to remove the obstacles which conceal that road from the view of those who are less fortunate than ourselves. The perfectibility of the human species has long been looked upon as a fit subject of speculation for castle-builders and Utopians; and certainly the schemes by which it has frequently been thought that this perfectibility might be brought about, were well calculated to excite a smile even on the countenance of the most benevolent. On the other hand, political economists, as a class, have often been held up to hatred because their doctrines were considered as adverse to the scheme of perfectibility. This hatred has, however, been extremely ill-placed. For, waiving any opinion as to the scheme of perfectibility, and as to the possibility of attaching any very precise idea to the term, it must be allowed that political economists have shown in what manner the condition of mankind may be considerably improved. It must be allowed, moreover, that, previous to their inquiries, unknown causes existed, by which all plans for improvement were checked and counteracted. Not only have they pointed out these causes of evil, but, fearlessly braving the prejudices of the ignorant and vulgar, they have brought to light a remedy by which that evil may be averted. If, therefore, they are of opinion that the perfectibility of the species is a mere vision, although bright and fascinating to dwell upon, they have, at all events, produced a plan by which a large addition may almost immediately be made to human happiness, and which will ultimately raise the species to a state at least approaching to the perfectibility which has been aimed at.

The readiness with which all the late discoveries in economical science have been received and assented to, and the success which has attended all the attempts that have been made to diffuse a knowledge of them, hold out the strongest encouragement to those who have already devoted either time or talent for the purpose of imparting useful information, to persevere in their course, and to others to follow their example. Of all who have hitherto been engaged in this meritorious employment, there is no one who has distinguished himself more than the author of the Discourse which we have before us. Were it possible to trace any portion of the improvement in the public mind within these few years to the labours of particular individuals, we think that much might be traced to those of Mr. McCulloch. In him are united a profound knowledge of the principles of the science, a most uncommon degree of skill in illustrating and expounding them, a complete mastery of all the errors and sophisms which have heretofore prevailed, and of the arguments by which they are to be met, with an apostolic zeal in communicating his knowledge to others. What other qualities can be required to entitle a man to the character of a perfect teacher?

In the early part of last year a Lectureship upon Political Economy was founded for a limited number of years in honour of the late Mr. Ricardo; a manner of commemorating the virtues and talents of that great philosopher, as consonant to what it might be supposed would be his wishes, as it was creditable to the judgment of his friends and admirers. The well-known qualifications of Mr. McCulloch pointed him out to these gentlemen as the fittest person to fill the lecturer’s chair. Mr. McCulloch had already given some courses of lectures at his own private risk at Edinburgh; but doubts were entertained by many whether the public mind was yet ripe for such an institution. The success, however, which attended his first course far exceeded the most sanguine expectations of the most ardent friends of the science, and induced a number of public-spirited individuals to invite him to deliver a course of lectures in the city, in addition to the one which he was engaged to deliver as Ricardo lecturer.

The student who wishes to form an idea of what political economy really means, and to judge for himself whether the knowledge of the science would repay him for the time and application which he must necessarily sacrifice in order to obtain it, cannot do better than purchase this pamphlet. It does not contain more than 117 pages, and is written in a popular and pleasing style. In it he will find a general view of the principles on which the science is founded; the distinguishing features of the most celebrated theories that have been advanced to explain its various results; the distinction between it and politics; and some remarks illustrative of the utility of its study to all ranks and orders of the community.

Mr. McCulloch puts forth no pretensions to originality in this discourse. It was written evidently with a view to attract those who as yet are strangers to the science. In this he has more than succeeded. Whoever carefully peruses its contents cannot fail to be inspired with a wish to perfect himself in the science, since he will see the necessity of either ceasing to take a part in the discussion of public affairs, or of qualifying himself to discuss them philosophically. Our space will not permit us to indulge in many examples of the style and spirit of the work. We subjoin the following:

[[*] ]Say, Jean-Baptiste, Traité d’économie politique. 2 vols. Paris: Deterville, 1803.

[[†] ]Malthus, T. R. An Inquiry into the Nature and Progress of Rent. London: Murray, 1815; West, Edward. Essay on the Application of Capital to Land. London: Underwood, 1815.