Part 6

Commerce is a game of skill, which every man cannot play, which few men can play well. The right merchant is one who has the just average of faculties we call _common sense_; a man of a strong affinity for facts, who makes up his decision on what he has seen. He is thoroughly persuaded of the truths of arithmetic. There is always a reason, _in the man_, for his good or bad fortune, and so, in making money. Men talk as if there were some magic about this, and believe in magic, in all parts of life. He knows, that all goes on the old road, pound for pound, cent for cent,--for every effect a perfect cause,--and that good luck is another name for tenacity of purpose. He insures himself in every transaction, and likes small and sure gains. Probity and closeness to the facts are the basis, but the masters of the art add a certain long arithmetic. The problem is, to combine many and remote operations, with the accuracy and adherence to the facts, which is easy in near and small transactions; so to arrive at gigantic results, without any compromise of safety. Napoleon was fond of telling the story of the Marseilles banker, who said to his visitor, surprised at the contrast between the splendor of the banker's chateau and hospitality, and the meanness of the counting-room in which he had seen him,--"Young man, you are too young to understand how masses are formed,--the true and only power,--whether composed of money, water, or men, it is all alike,--a mass is an immense centre of motion, but it must be begun, it must be kept up:"--and he might have added, that the way in which it must be begun and kept up, is, by obedience to the law of particles.

Success consists in close appliance to the laws of the world, and, since those laws are intellectual and moral, an intellectual and moral obedience. Political Economy is as good a book wherein to read the life of man, and the ascendency of laws over all private and hostile influences, as any Bible which has come down to us.

Money is representative, and follows the nature and fortunes of the owner. The coin is a delicate meter of civil, social, and moral changes. The farmer is covetous of his dollar, and with reason. It is no waif to him. He knows how many strokes of labor it represents. His bones ache with the day's work that earned it. He knows how much land it represents;--how much rain, frost, and sunshine. He knows that, in the dollar, he gives you so much discretion and patience, so much hoeing, and threshing. Try to lift his dollar; you must lift all that weight. In the city, where money follows the skit of a pen, or a lucky rise in exchange, it comes to be looked on as light. I wish the farmer held it dearer, and would spend it only for real bread; force for force.

The farmer's dollar is heavy, and the clerk's is light and nimble; leaps out of his pocket; jumps on to cards and faro-tables: but still more curious is its susceptibility to metaphysical changes. It is the finest barometer of social storms, and announces revolutions.

Every step of civil advancement makes every man's dollar worth more. In California, the country where it grew,--what would it buy? A few years since, it would buy a shanty, dysentery, hunger, bad company, and crime. There are wide countries, like Siberia, where it would buy little else to-day, than some petty mitigation of suffering. In Rome, it will buy beauty and magnificence. Forty years ago, a dollar would not buy much in Boston. Now it will buy a great deal more in our old town, thanks to railroads, telegraphs, steamers, and the contemporaneous growth of New York, and the whole country. Yet there are many goods appertaining to a capital city, which are not yet purchasable here, no, not with a mountain of dollars. A dollar in Florida is not worth a dollar in Massachusetts. A dollar is not value, but representative of value, and, at last, of moral values. A dollar is rated for the corn it will buy, or to speak strictly, not for the corn or house-room, but for Athenian corn, and Roman house-room,--for the wit, probity, and power, which we eat bread and dwell in houses to share and exert. Wealth is mental; wealth is moral. The value of a dollar is, to buy just things: a dollar goes on increasing in value with all the genius, and all the virtue of the world. A dollar in a university, is worth more than a dollar in a jail; in a temperate, schooled, law-abiding community, than in some sink of crime, where dice, knives, and arsenic, are in constant play.

The "Bank-Note Detector" is a useful publication. But the current dollar, silver or paper, is itself the detector of the right and wrong where it circulates. Is it not instantly enhanced by the increase of equity? If a trader refuses to sell his vote, or adheres to some odious right, he makes so much more equity in Massachusetts; and every acre in the State is more worth, in the hour of his action. If you take out of State-street the ten honestest merchants, and put in ten roguish persons, controlling the same amount of capital,--the rates of insurance will indicate it; the soundness of banks will show it: the highways will be less secure: the schools will feel it; the children will bring home their little dose of the poison: the judge will sit less firmly on the bench, and his decisions be less upright; he has lost so much support and constraint,--which all need; and the pulpit will betray it, in a laxer rule of life. An apple-tree, if you take out every day for a number of days, a load of loam, and put in a load of sand about its roots,--will find it out. An apple-tree is a stupid kind of creature, but if this treatment be pursued for a short time, I think it would begin to mistrust something. And if you should take out of the powerful class engaged in trade a hundred good men, and put in a hundred bad, or, what is just the same thing, introduce a demoralizing institution, would not the dollar, which is not much stupider than an apple-tree, presently find it out? The value of a dollar is social, as it is created by society. Every man who removes into this city, with any purchasable talent or skill in him, gives to every man's labor in the city, a new worth. If a talent is anywhere born into the world, the community of nations is enriched; and, much more, with a new degree of probity. The expense of crime, one of the principal charges of every nation, is so far stopped. In Europe, crime is observed to increase or abate with the price of bread. If the Rothschilds at Paris do not accept bills, the people at Manchester, at Paisley, at Birmingham, are forced into the highway, and landlords are shot down in Ireland. The police records attest it. The vibrations are presently felt in New York, New Orleans, and Chicago. Not much otherwise, the economical power touches the masses through the political lords. Rothschild refuses the Russian loan, and there is peace, and the harvests are saved. He takes it, and there is war, and an agitation through a large portion of mankind, with every hideous result, ending in revolution, and a new order.

Wealth brings with it its own checks and balances. The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws. Give no bounties: make equal laws: secure life and property, and you need not give alms. Open the doors of opportunity to talent and virtue, and they will do themselves justice, and property will not be in bad hands. In a free and just commonwealth, property rushes from the idle and imbecile, to the industrious, brave, and persevering.

The laws of nature play through trade, as a toy-battery exhibits the effects of electricity. The level of the sea is not more surely kept, than is the equilibrium of value in society, by the demand and supply: and artifice or legislation punishes itself, by reactions, gluts, and bankruptcies. The sublime laws play indifferently through atoms and galaxies. Whoever knows what happens in the getting and spending of a loaf of bread and a pint of beer; that no wishing will change the rigorous limits of pints and penny loaves; that, for all that is consumed, so much less remains in the basket and pot; but what is gone out of these is not wasted, but well spent, if it nourish his body, and enable him to finish his task;--knows all of political economy that the budgets of empires can teach him. The interest of petty economy is this symbolization of the great economy; the way in which a house, and a private man's methods, tally with the solar system, and the laws of give and take, throughout nature; and, however wary we are of the falsehoods and petty tricks which we suicidally play off on each other, every man has a certain satisfaction, whenever his dealing touches on the inevitable facts; when he sees that things themselves dictate the price, as they always tend to do, and, in large manufactures, are seen to do. Your paper is not fine or coarse enough,--is too heavy, or too thin. The manufacturer says, he will furnish you with just that thickness or thinness you want; the pattern is quite indifferent to him; here is his schedule;--any variety of paper, as cheaper or dearer, with the prices annexed. A pound of paper costs so much, and you may have it made up in any pattern you fancy.

There is in all our dealings a self-regulation that supersedes chaffering. You will rent a house, but must have it cheap. The owner can reduce the rent, but so he incapacitates himself from making proper repairs, and the tenant gets not the house he would have, but a worse one; besides, that a relation a little injurious is established between landlord and tenant. You dismiss your laborer, saying, "Patrick, I shall send for you as soon as I cannot do without you." Patrick goes off contented, for he knows that the weeds will grow with the potatoes, the vines must be planted, next week, and, however unwilling you may be, the cantelopes, crook-necks, and cucumbers will send for him. Who but must wish that all labor and value should stand on the same simple and surly market? If it is the best of its kind, it will. We must have joiner, locksmith, planter, priest, poet, doctor, cook, weaver, ostler; each in turn, through the year.

If a St. Michael's pear sells for a shilling, it costs a shilling to raise it. If, in Boston, the best securities offer twelve _per cent._ for money, they have just six _per cent._ of insecurity. You may not see that the fine pear costs you a shilling, but it costs the community so much. The shilling represents the number of enemies the pear has, and the amount of risk in ripening it. The price of coal shows the narrowness of the coal-field, and a compulsory confinement of the miners to a certain district. All salaries are reckoned on contingent, as well as on actual services. "If the wind were always southwest by west," said the skipper, "women might take ships to sea." One might say, that all things are of one price; that nothing is cheap or dear; and that the apparent disparities that strike us, are only a shopman's trick of concealing the damage in your bargain. A youth coming into the city from his native New Hampshire farm, with its hard fare still fresh in his remembrance, boards at a first-class hotel, and believes he must somehow have outwitted Dr. Franklin and Malthus, for luxuries are cheap. But he pays for the one convenience of a better dinner, by the loss of some of the richest social and educational advantages. He has lost what guards! what incentives! He will perhaps find by and by, that he left the Muses at the door of the hotel, and found the Furies inside. Money often costs too much, and power and pleasure are not cheap. The ancient poet said, "the gods sell all things at a fair price."

There is an example of the compensations in the commercial history of this country. When the European wars threw the carrying-trade of the world, from 1800 to 1812, into American bottoms, a seizure was now and then made of an American ship. Of course, the loss was serious to the owner, but the country was indemnified; for we charged threepence a pound for carrying cotton, sixpence for tobacco, and so on; which paid for the risk and loss, and brought into the country an immense prosperity, early marriages, private wealth, the building of cities, and of states: and, after the war was over, we received compensation over and above, by treaty, for all the seizures. Well, the Americans grew rich and great. But the pay-day comes round. Britain, France, and Germany, which our extraordinary profits had impoverished, send out, attracted by the fame of our advantages, first their thousands, then their millions, of poor people, to share the crop. At first, we employ them, and increase our prosperity: but, in the artificial system of society and of protected labor, which we also have adopted and enlarged, there come presently checks and stoppages. Then we refuse to employ these poor men. But they will not so be answered. They go into the poor rates, and, though we refuse wages, we must now pay the same amount in the form of taxes. Again, it turns out that the largest proportion of crimes are committed by foreigners. The cost of the crime, and the expense of courts, and of prisons, we must bear, and the standing army of preventive police we must pay. The cost of education of the posterity of this great colony, I will not compute. But the gross amount of these costs will begin to pay back what we thought was a net gain from our transatlantic customers of 1800. It is vain to refuse this payment. We cannot get rid of these people, and we cannot get rid of their will to be supported. That has become an inevitable element of our politics; and, for their votes, each of the dominant parties courts and assists them to get it executed. Moreover, we have to pay, not what would have contented them at home, but what they have learned to think necessary here; so that opinion, fancy, and all manner of moral considerations complicate the problem.

There are a few measures of economy which will bear to be named without disgust; for the subject is tender, and we may easily have too much of it; and therein resembles the hideous animalcules of which our bodies are built up,--which, offensive in the particular, yet compose valuable and effective masses. Our nature and genius force us to respect ends, whilst we use means. We must use the means, and yet, in our most accurate using, somehow screen and cloak them, as we can only give them any beauty, by a reflection of the glory of the end. That is the good head, which serves the end, and commands the means. The rabble are corrupted by their means: the means are too strong for them, and they desert their end.

1. The first of these measures is that each man's expense must proceed from his character. As long as your genius buys, the investment is safe, though you spend like a monarch. Nature arms each man with some faculty which enables him to do easily some feat impossible to any other, and thus makes him necessary to society. This native determination guides his labor and his spending. He wants an equipment of means and tools proper to his talent. And to save on this point, were to neutralize the special strength and helpfulness of each mind. Do your work, respecting the excellence of the work, and not its acceptableness. This is so much economy, that, rightly read, it is the sum of economy. Profligacy consists not in spending years of time or chests of money,--but in spending them off the line of your career. The crime which bankrupts men and states, is, job-work;--declining from your main design, to serve a turn here or there. Nothing is beneath you, if it is in the direction of your life: nothing is great or desirable, if it is off from that. I think we are entitled here to draw a straight line, and say, that society can never prosper, but must always be bankrupt, until every man does that which he was created to do.

Spend for your expense, and retrench the expense which is not yours. Allston, the painter, was wont to say, that he built a plain house, and filled it with plain furniture, because he would hold out no bribe to any to visit him, who had not similar tastes to his own. We are sympathetic, and, like children, want everything we see. But it is a large stride to independence,--when a man, in the discovery of his proper talent, has sunk the necessity for false expenses. As the betrothed maiden, by one secure affection, is relieved from a system of slaveries,--the daily inculcated necessity of pleasing all,--so the man who has found what he can do, can spend on that, and leave all other spending. Montaigne said, "When he was a younger brother, he went brave in dress and equipage, but afterward his chateau and farms might answer for him." Let a man who belongs to the class of nobles, those, namely, who have found out that they can do something, relieve himself of all vague squandering on objects not his. Let the realist not mind appearances. Let him delegate to others the costly courtesies and decorations of social life. The virtues are economists, but some of the vices are also. Thus, next to humility, I have noticed that pride is a pretty good husband. A good pride is, as I reckon it, worth from five hundred to fifteen hundred a year. Pride is handsome, economical: pride eradicates so many vices, letting none subsist but itself, that it seems as if it were a great gain to exchange vanity for pride. Pride can go without domestics, without fine clothes, can live in a house with two rooms, can eat potato, purslain, beans, lyed corn, can work on the soil, can travel afoot, can talk with poor men, or sit silent well-contented in fine saloons. But vanity costs money, labor, horses, men, women, health, and peace, and is still nothing at last, a long way leading nowhere.--Only one drawback; proud people are intolerably selfish, and the vain are gentle and giving.

Art is a jealous mistress, and, if a man have a genius for painting, poetry, music, architecture, or philosophy, he makes a bad husband, and an ill provider, and should be wise in season, and not fetter himself with duties which will embitter his days, and spoil him for his proper work. We had in this region, twenty years ago, among our educated men, a sort of Arcadian fanaticism, a passionate desire to go upon the land, and unite farming to intellectual pursuits. Many effected their purpose, and made the experiment, and some became downright ploughmen; but all were cured of their faith that scholarship and practical farming, (I mean, with one's own hands,) could be united.

With brow bent, with firm intent, the pale scholar leaves his desk to draw a freer breath, and get a juster statement of his thought, in the garden-walk. He stoops to pull up a purslain, or a dock, that is choking the young corn, and finds there are two: close behind the last, is a third; he reaches out his hand to a fourth; behind that, are four thousand and one. He is heated and untuned, and, by and by, wakes up from his idiot dream of chickweed and red-root, to remember his morning thought, and to find, that, with his adamantine purposes, he has been duped by a dandelion. A garden is like those pernicious machineries we read of, every month, in the newspapers, which catch a man's coat-skirt or his hand, and draw in his arm, his leg, and his whole body to irresistible destruction. In an evil hour he pulled down his wall, and added a field to his homestead. No land is bad, but land is worse. If a man own land, the land owns him. Now let him leave home, if he dare. Every tree and graft, every hill of melons, row of corn, or quickset hedge, all he has done, and all he means to do, stand in his way, like duns, when he would go out of his gate. The devotion to these vines and trees he finds poisonous. Long free walks, a circuit of miles, free his brain, and serve his body. Long marches are no hardship to him. He believes he composes easily on the hills. But this pottering in a few square yards of garden is dispiriting and drivelling. The smell of the plants has drugged him, and robbed him of energy. He finds a catalepsy in his bones. He grows peevish and poor-spirited. The genius of reading and of gardening are antagonistic, like resinous and vitreous electricity. One is concentrative in sparks and shocks: the other is diffuse strength; so that each disqualifies its workman for the other's duties.

An engraver whose hands must be of an exquisite delicacy of stroke, should not lay stone walls. Sir David Brewster gives exact instructions for microscopic observation:--"Lie down on your back, and hold the single lens and object over your eye," &c. &c. How much more the seeker of abstract truth, who needs periods of isolation, and rapt concentration, and almost a going out of the body to think!

2. Spend after your genius, _and by system_. Nature goes by rule, not by sallies and saltations. There must be system in the economies. Saving and unexpensiveness will not keep the most pathetic family from ruin, nor will bigger incomes make free spending safe. The secret of success lies never in the amount of money, but in the relation of income to outgo; as if, after expense has been fixed at a certain point, then new and steady rills of income, though never so small, being added, wealth begins. But in ordinary, as means increase, spending increases faster, so that, large incomes, in England and elsewhere, are found not to help matters;--the eating quality of debt does not relax its voracity. When the cholera is in the potato, what is the use of planting larger crops? In England, the richest country in the universe, I was assured by shrewd observers, that great lords and ladies had no more guineas to give away than other people; that liberality with money is as rare, and as immediately famous a virtue as it is here. Want is a growing giant whom the coat of Have was never large enough to cover. I remember in Warwickshire, to have been shown a fair manor, still in the same name as in Shakspeare's time. The rent-roll, I was told, is some fourteen thousand pounds a year: but, when the second son of the late proprietor was born, the father was perplexed how to provide for him. The eldest son must inherit the manor; what to do with this supernumerary? He was advised to breed him for the Church, and to settle him in the rectorship, which was in the gift of the family; which was done. It is a general rule in that country, that bigger incomes do not help anybody. It is commonly observed, that a sudden wealth, like a prize drawn in a lottery, or a large bequest to a poor family, does not permanently enrich. They have served no apprenticeship to wealth, and, with the rapid wealth, come rapid claims: which they do not know how to deny, and the treasure is quickly dissipated.