The Online Library of Liberty

A project of Liberty Fund, Inc.

• Foreword
• Part One: the Doctrine of Equal Rights
• True Functions of Government
• The Reserved Rights of the People
• Objects of the Evening Post
• Reply to the Charge of Lunacy
• The Legislation of Congress
• Religious Intolerance
• Direct Taxation
• The Course of the Evening Post
• Chief Justice Marshall
• Prefatory Remarks
• The Sister Doctrines
• The True Theory of Taxation
• Strict Construction
• Legislative Indemnity For Losses From Mobs
• The Despotism of the Majority
• Morals of Legislation
• The Morals of Politics
• Part Two: Separation of Bank and State
• Bank of United States
• Small Note Circulation
• The Monopoly Banking System
• Uncurrent Bank Notes
• Fancy Cities
• Causes of Financial Distress
• Why Is Flour So Dear?
• Thoughts On the Causes of the Present Discontents
• Strictures On the Late Message
• The Value of Money
• The Way to Cheapen Flour
• The Money Market and Nicholas Biddle
• The Pressure—the Cause of It—and the Remedy
• Connexion of State With Banking
• The Crisis
• The Bankrupt Banks
• What We Must Do, and What We Must Not
• “the Foresight of Individual Enterprise”
• The Safety Fund Bubble
• Separation of Bank and State
• The Remedy For Broken Banks
• “blest Paper Credit”
• Questions and Answers
• The True and Natural System
• The Bugbear of the Bank Democrats
• Bank and State
• Theory and Practice
• Separation of Bank and State
• “specie Basis”
• The Natural System
• The Credit System and the Aristocracy
• The Divorce of Politicks and Banking
• Part Three: Abolition Insolence
• Riot At the Chatham-street Chapel
• Governor Mcduffie’s Message
• The Abolitionists
• Reward For Arthur Tappan
• The Anti-slavery Society
• Abolitionists
• Slavery No Evil
• Progress of Fanaticism
• An Argument Against Abolition Refuted
• Commencement of the Administration of Martin Van Buren
• The Question of Slavery Narrowed to a Point
• “abolition Insolence”
• Part Four: the Division of Political Classes
• Despotism of Andrew Jackson
• The Division of Parties
• Rich and Poor
• The Street of the Palaces
• American Nobility
• The Inequality of Human Condition
• A Bad Beginning
• The Whig Embassy to Washington, and Its Result
• Right Views Among the Right Sort of People
• Newspaper Nominations
• Foreign “paupers”
• Part Five: the Principles of Free Trade
• Monopolies: I
• “a Little Free-trade Crazy”
• Asylum For Insane Paupers
• Monopolies: Ii
• Revolutionary Pensioners
• Joint-stock Partnership Law
• The Ferry Monopoly
• Free Trade Post Office
• Stock Gambling
• Weighmaster General
• State Prison Monopoly
• Corporation Property
• Regulation of Coal
• Free Ferries and an Agrarian Law
• Thanksgiving Day
• Municipal Docks
• Associated Effort
• The Coal Question
• The Corporation Question
• Free Trade Weights and Measures
• Associated Effort
• Sale of Publick Lands
• Manacles Instead of Gyves
• The Meaning of Free Trade
• Gambling Laws
• Free Trade Post Office
• Free Trade, Taxes, and Subsidies
• Meek and Gentle With These Butchers
• The Cause of High Prices, and the Rights of Combination
• Omnipotence of the Legislature
• Part Six: Literary Property
• Rights of Authors
• The Rights of Authors
• Right of Property In the Fruits of Intellectual Labour

MUNICIPAL DOCKS

Plaindealer,

December 3, 1836.

Title added.

Among the reports adopted by the Board of Aldermen at a recent sitting was one “in favour of appropriating so much space about Pike Slip as may be necessary for the accommodation of the East river steamboats, and leasing berths for the boats there for not longer than two years, such place to be called East River Steamboat Place.” Another of the reports adopted was in favour of the appointment of a new set of publick officers, under the name of dockmasters, with a salary of five hundred dollars. The principle upon which these measures are founded is one entirely contrary to the genius of democratick government, and to a true theory of political economy. There is no greater reason why the docks and slips should be the property of the city government, and should be disposed of at the discretion of the Common Council, than why the store houses and dwelling houses should, in the same way, be under the municipal control. The political objection to this is that it strengthens the government at the expense of popular rights, creates a necessity for numerous subordinate officers, and makes it more difficult for the honest unbiassed voice of the people to have its due influence over publick affairs. The economick objection is, that no code of municipal laws can ever answer the purposes of trade as well as its own laws. When the docks are owned by the people in their corporate capacity, and hired out by their municipal agents, it results, as an inevitable consequence, that there will be favouritism and partiality in the arrangement; one place will be charged at too high a rate of wharfage, and another at too low; and business will be forced from its natural direction to suit the views of speculators, or to gratify the demands of sectional rapacity. It would, in our opinion, be a wise measure of publick policy, for the corporation to dispossess itself of all property in the docks and slips, selling them to the highest bidder, with perhaps a preemption right to the owners of the contiguous lots. By such a measure a vast fund might be realized, which would go far to pay off the city debt, and would greatly diminish the burden of taxation. According to our theory of government, the more simple the principles on which it is conducted the better. When we hear of the Common Council having made a fortunate speculation in the purchase of some island or unneeded tract of land, which has risen in money price on their hands, the thought strikes us that, what the government gains, certain individual citizens must have lost; that the aggregate wealth of the community is not increased; and that it is no part of the proper duty of government to enter into competition with citizens in the business of purchase and sale. Besides, whatever increases the wealth of a government, whatever sources of revenue it obtains independent of taxation, increases its power, and diminishes the power of the people in the same ratio. This is not a result which a democrat should desire. The aristocratick theory, the main feature of which is distrust of popular intelligence and virtue, approves a strong government; but give us a strong people as the only certain basis of the rights of property and of social order and prosperity.