The Dictionary of Early American Philosophers

THE DICTIONARY OF EARLY AMERICAN PHILOSOPHERS

Volume 1 A – L

GENERAL EDITOR John R. Shook

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CAREY, Henry Charles (1793 – 1879) of the slave system, seeing it as just another form of economic slavery prevalent through- Henry Charles Carey was born in Philadelphia, out the world. He preferred to leave it to Pennsylvania on 15 December 1793. His “ nature . . to remedy the existing evil” parents were the infl uential Irish-born pro- (1836, 309). He did, however, encour- tectionist publisher Mathew CAREY and age the southern slave owner, “ if he regard Bridget Flahavan, daughter of a respectable his own interest,” to take good care of his Philadelphia family. Henry, the “ miniature slaves (1836, 303). Most striking, though, bookseller, ” began working at his father’ s was Carey’ s early dedication to laissez faire bookshop at the age of eight, surrounded by economic principles: Restriction and monop- his father ’ s circle of Philadelphia protection- olies led to war and poverty, whereas “ free ists. At twelve years of age, he moved to Balti- trade, freedom of action – peace – moder- more, where he lived until 1809. For the next ate taxation – high wages, and abundance, nine years he was a traveling salesman for his are all associated” (1835, 9). father ’ s company. In 1814 he was made part- Carey wrote The Harmony of Nature ner of the business. He married Martha Leslie in 1836. In this work, he yet remained a in 1819. He became head of the fi rm, later disciple of laissez-faire capitalism. Elabo- called Carey, Lea, and Carey, in 1825 upon rating upon his anti-Malthusian ideas, he his father ’ s retirement. After 1834, he ceased argued that there lay no confl ict between working with the publishing fi rm to focus upon populations and subsistence, or landlord the study of economics and social science. and laborer, within harmonious Nature. He In 1856, he became active in the Republican also challenged Ricardo’ s theory of rent. Party. He was a prolifi c writer of articles, cor- Carey believed instead that the “ rise of rent respondence, and editorials on political and is always the effect of the increasing wealth economic issues. Carey died on 13 October and of the increased facility for providing 1879 in Philadelphia, Pennsylvania. food ” (112). Here, too, he defi ned capital as While running the family publishing com- “ everything that has exchangeable value,” a pany, Carey avidly read the various submis- defi nition that would change little in his later sions of literature, geography, philosophy, and works (177). Carey was displeased with The political economy. Upon retirement from the Harmony ’ s disorganization and disjointed- book industry, Carey published his fi rst major ness, and withheld it from the public. work, an Essay on the Rate of Wages (1835). From 1837 to 1840, Carey published In it, he argued that “ high wages . . . are an his three volume The Principles of Political infallible evidence of prosperity, and of the Economy . In the fi rst volume, he outlined rapid increase of capital. ” Population increase his concept of labor and cost wherein man in turn brought “ new divisions of labour, will appropriates, alters, or transports “ the gifts insure a high degree of perfection, and a more of nature. ” The subsequently produced rapid increase of the supply of the means of goods “ have value [revenue] in his estima- support ” (247). As the United States ’ food sup- tion because of the labor that has been given ply had increased alongside its population, he in exchange for them ” (vol. 1, 337). Carey took on Malthus ’s pessimistic theory of popu- defi ned capital as the portion of revenue that lation growth, asserting that “ where popula- the laborer saved for the future. Further- tion increases rapidly, food is abundant ” (244). more, as internal improvements increased Immigration, then, should be encouraged. the speed and quality of trade and labor, He seemed to have little disagreement “ both capitalist and laborer are, therefore, with southern slavery. He was in opposition enabled to obtain a constantly increasing to “ any attempt to change ” the “ condition ” measure of the conveniences, comforts, and

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luxuries of life in exchange for their prod- The Past, the Present, and the Future , felt ucts ” ; this relationship of interests was thus he had to disprove Ricardo’ s rent theory by “ in perfect harmony ” (vol. 1, 339). Capital questioning its supposed universality. Carey and population similarly shared such a rela- still tenuously held on to the tenants of free tionship so long as there were no high taxes, trade, believing that “ war is an evil, and so government interference, or war. are tariffs for protection. ” But he now also The infl ationary crisis that struck the admitted that “ both may be necessary, and United States in 1837 likely affected Carey’ s both are sometimes necessary” (302). Carey economic theory as he was writing the sec- thereafter increasingly saw the free-trading ond volume. Much of this volume focuses British Empire as evil, a threat to America’ s upon credit. Yet while most Americans home industries. sought governmental restriction to stymie From around 1850 to 1857, Carey pro- further infl ation, Carey continued to call for moted his protectionist creed as an editorial unrestrained laissez faire policies. Freedom writer for the New York Tribune . In 1853, of capital guaranteed “ the safest and least he published The Slave Trade, Domestic expensive currency” (1838, vol. 2, 258). and Foreign , wherein Carey saw southern Regulation of currency would merely lead to African slavery as merely one manifesta- hoarding by bankers. He thus advocated free tion of slavery; the southern cotton growers banking, and he gained the respect of such themselves, with no home market to speak free traders as French economist Frederic of, were slaves to the British cotton market, Bastiat for his stance. Bastiat himself after- as well. Southerners needed industries and ward admitted his indebtedness to Carey for a protective tariff. Thus, Carey argued that his original theory of value and labor. slavery and free trade were intertwined. He American tariffs were decreased between joined the Republican Party in 1856 and 1836 and 1840. The resulting recession, helped shape its later protectionist platform. and Carey’ s own fi nancial losses during this Between 1858 and 1860, Carey crafted his period, probably caused him to question the greatest work, his three volume The Principles principles of laissez faire . More and more, of Social Science . He supplemented his eco- Carey saw the British industrial dominance nomic theories with the addition of natural and moves toward freer trade with skepti- history and natural science. Man was but the cism and suspicion. So, too, was the likely “ molecule of society . . . the subject of social infl uence of Friedrich List’ s System of science,” and “ the great law of molecular National Economics (1841). When tariffs gravitation ” was “ the indispensible condition were raised in 1842 and Carey ’ s business of the being called man” (vol. 1, 41, 42). The grew accordingly, he later remarked that protective tariff was therefore a force that “ in the closing months of 1842, seeing the “ tends to the establishment of decentraliza- wonderful change effected by the protection, and to the production of local employ- tive tariff then in operation, ” John C. CAL- ment for time and talent, tends to give value HOUN had “ suggested that there must be to land, to promote its division, and to enable some great law that would explain the fact parents and children to remain in closer con- that we always grew rich under protection, nection with each other” (vol. 1, 45). whereas we always ended in bankruptcy Money advanced fi nancial progress. after free trade” (1883, vol. 1, 26). By 1845, According to Carey, increases to the money Carey began to further question Ricardo’ s metals, gold and silver, increased soci- theory of rent which was so closely tied to etal ties: “ The more abundant the supply free trade. In order to support a protective of those metals, the more instant become tariff, therefore, Carey, in his 1848 work the exchanges of society, the greater is the

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economy of mental and physical force, and Further Reading the greater the power to produce commodi- Amer Nat Bio, Appleton’ s Cycl Amer Bio, ties to be given in exchange for further sup- Cambridge Dict Amer Bio, Dict Amer plies of these great instruments of association Bio, WWWHV and combination ” (vol. 2, 306). His position Conkin, Paul K. Prophets of Prosperity: on free banking and infl ationary currency America’ s First Political Economists remained quite similar to his views twenty (Bloomington, Indiana, 1980). years before. He did add that international Dawson, Andrew. “ Reassessing Henry free trade forced raw materials and precious Carey (1793 – 1879): The Problems of metals into foreign markets, whereas protec- Writing Political Economy in Nineteenth- tionism increased the price of raw materials, Century America,” Journal of American domestic consumption of those materials, Studies 34 (2000): 465 – 85. and “ the precious metals fl owed in and con- Dorfman, Joseph. The Economic Mind in fi dence was complete” (vol. 2, 437). There- American Civilization, 1606– 1865 , vols. after, Carey ’ s writings were predominantly 2 and 3 (New York, 1946). polemics on the promotion of the protective Dunbar, Charles F. “ Economic Science in tariff, free banking, and “ infant ” industries. America, 1776– 1876, ” North American He was instrumental in crafting Republican Review 122 (January 1876): 124 – 54. tariff policy under Lincoln’ s administration. Green, Arnold W. Henry Charles Carey: Henry Charles Carey evolved from a fer- Nineteenth-Century Sociologist (Philadel- vent free trader to one of the most infl uential phia, 1951). nineteenth-century proponents of protection- Kaiser, Carl William, Jr. History of the ism in the United States. His economic theories Academic Protectionist– Free Trade Con- and forays into the development of modern troversy in America before 1860 . PhD social science had lasting effects. These effects dissertation, University of Pennsylvania were felt most strongly during the age of (Philadelphia, 1939). American Enlightenment, but still reverberate Kaplan, A. D. H. Henry Charles Carey: A today. Study in American Economic Thought (Baltimore, Md., 1931). BIBLIOGRAPHY Lee, Arthur M. “ Henry C. Carey and the Essay on the Rate of Wages (Philadelphia, Republican Tariff,” Pennsylvania Maga- 1835). zine of History and Biography 81 (1957): The Harmony of Nature, as exhibited in the 280 – 302. laws which regulate the increase of Popu- Levermore, Charles H. “ Henry C. Carey lation and of the means of Subsistence and his Social System,” Political Science (Philadelphia, 1836). Quarterly 5 (December 1890): 553– 82. The Principles of Political Economy , 3 vols. Morrison, Rodney J. “ Henry C. Carey and (Philadelphia, 1837 – 40). American Economic Development,” Trans- The Past, the Present, and the Future actions of the American Philosophical (Philadelphia, 1848). Society 76, part three (Philadelphia, 1986). The Principles of Social Science , 3 vols. Smith, George W. Henry C. Carey and (Philadelphia, 1858 – 60). American Sectional Confl ict (Alberquer- que, N.M., 1951). Other Relevant Works Turner, John Roscoe. “ Henry C. Carey’ s Miscellaneous Works of Henry C. Carey , Attitude Toward the Ricardian Theory of 2 vols. (Philadelphia, 1883). Contains a Rent, ” Quarterly Journal of Economics Memoir by William Elder. 26 (1912): 644 – 72.

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Vaughn, Gerald F. “ Institutional Economics by M. Carey & Sons (1821 – 24), and Carey and Community Development: The Pio- & Lea in 1824. He was an acquaintance of neering Roles of Henry C. Carey and Van German protectionist Friedrich List. He was Buren Denslow, ” Journal of Economic also an active member in the Pennsylvania Issues 37 (2003): 681 – 96. Temperance Society and the Pennsylvania Society for the Promotion of Manufactures Marc-William Palen and the Mechanic Arts, founded the Philadel- phia Society for the Promotion of National Industry in 1819, and helped organize and presided over a society for child education. Carey died on 16 September 1839 in Phila- delphia, Pennsylvania. CAREY, Mathew (1760 – 1839) Mathew Carey’ s formative years in Ire- land instilled in him a strong educational Mathew Carey was born of a wealthy Cath- background and an intense national loyalty olic family, son of Christopher and Mary to Ireland and its persecuted Catholic popu- Sherridan Carey, in Dublin, Ireland on 28 lace, leading to his publication of the radical, January 1760. At age fi fteen he became an pro-Catholic, and pro-American Hibernian apprentice bookseller. In 1779 he moved to Journal in 1775, as well as his subsequent Passy, a village near Paris, where he was confl ight to the United States. He made his tracted by Benjamin FRANKLIN to reprint fame and fortune fi rst and foremost from his American writings. Carey then worked establishing the greatest publishing fi rm in for Didot le jeune , France’ s greatest printer the early American republic. His pro-Irish of the era. Carey also befriended the Mar- nationalist fervor was quickly transferred quis de La Fayette during his stay in France. to the United States. Early on, he supported By 1783 Carey had returned to Dublin, at the Federalists, but in 1794 he switched his which time he established the pro-Irish Vol- loyalty and propagandistic endeavors over unteer ’ s Journal , leading to his subsequent to the Jeffersonian Republicans, although incarceration by the English. Upon his he subsequently supported the Hamilton- release a month later, he fl ed to the United inspired First Bank of the United States from States to avoid further persecution, arriving 1810 – 11. in Philadelphia on 1 November 1784. Until his offi cial retirement from the pub- With fi nancial support from La Fayette, in lishing business, he helped shape domestic January 1785, Carey established the Penn- literary tradition through the encourage- sylvania Evening Herald , followed by the ment and publication of American writers. Columbian Magazine in October 1786, and He published his own work, Olive Branch: the American Museum in January 1887. or, Faults on Both Sides, Federal and Dem- In 1790 he published the Catholic Douay ocratic in November 1814. Olive Branch Bible, the fi rst edition in America. He married became the most infl uential political work in Bridget Flahavan, a daughter of a respected the United States during the War of 1812, Philadelphia family, on 24 February 1791. selling more than any other political work He was sole owner of the greatest distribu- for eight years thereafter. In Olive Branch , tion and publishing fi rm in the United States, Carey ’ s greatest literary work, he encour- originally called Mathew Carey, from 1787 aged national unity amid a time of intense to 1817. With the help of his fi rstborn son, intraparty political confl ict and secession- Henry Charles CAREY, the company became ist threats within New England. He next M. Carey & Son (during 1817 – 21, followed published Vindiciae Hibernicae in 1819,

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in defense of the Irish. The book was con- He did acknowledge that land expansion sidered to have greatly vindicated the Irish and the production of raw materials were of cause. great concern to the majority of citizens. He The year 1819 also marked Carey’ s seri- also admitted that commerce, in its proper ous immersion into political economics. form, was helpful in aiding civilization, Upon retirement from his publishing fi rm and increasing “ the comforts of the great in 1822, Carey turned his focus in large part family of mankind ” (1820, 186). Ever the upon promoting American economic nation- voice of the weak, he argued that in order alism. Hoping to pick up on the issue where for the agriculture, commerce, and manu- Alexander HAMILTON had left off, Carey’ s facturing to work together most effi ciently, pamphlets on the subject numbered in the manufacturing needed the helping hand hundreds. Carey was infl uenced greatly by his of government to catch up. Carey likewise respect for England’ s industrial power which supported internal improvements such as he had experienced fi rsthand in both Ireland railroads, turnpikes, and canals. Quicker and America. He saw in American industry and easier transportation would invariably and ingenuity the potential to rival Britain. increase communications and prosperity. To do so, he thought, the government had Such improvements, through governmental to foster its factories and mills through pro- expenditure, would create trade and jobs in tective tariffs until they were able to provide the short term, as well as long-term growth commodities for America’ s growing domestic for commerce. Internal improvements thus markets in return for agricultural surpluses. benefi ted all classes of society. So too, like Eventually, growing domestic competition Hamilton, Carey wanted the United States to would drive down prices while driving up replicate the productive utility of England’ s the quality of products, making them in turn machinery such as the steam engine. competitive among foreign markets. If Carey ’ s protective system were imple- The United States’ geographic size and mented, he was sure that America would diversity of industry had to be maintained experience large increases in population. for such domestic self-reliance and interna- Immigrant artisans would seek out the tional competitiveness to arise, he argued high-paying jobs created from industrial in his 1820 work A View of the Ruinous protection and the subsequent growth in Consequences of a Dependence on Foreign agriculture and commerce. The abundance Markets for the Sale of the Great Staples of American natural resources and the equi- of this Nation, Flour, Cotton, and Tobacco . table protectionist system itself would also The erratic but persistent decline of the provide jobs, and minimize unemployment. price of food staples demonstrated the agri- He pointed to the results of the protective cultural sector’ s ability to create surplus system during the War of 1812 as proof of products, he noted. Governmental encour- his system’ s success. The war “ protected the agement of manufacturers would sup- domestic industry of the nation. It throve port an artisan class that would provide a and prospered under that safeguard which more stable domestic market that would be the peace tore down . . . And Congress, able to absorb farm surpluses and thereby whose imperious and paramount duty it was increase prices, effi ciency of resources, and to step in, and replace the protection, failed trade. The artisans would in turn provide of that duty ” (1820, 141). products and an abundant national market Carey viewed southern slavery with alarm. for capital. The slave class did not fi t neatly within his Agriculture and commerce received less proposed protective system. Reliance upon of Carey’ s attention than manufacturing. plantation slavery kept the southern states

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from developing a diverse economy. Yet, he Further Reading also believed that manumission would likely Amer Nat Bio, Appleton’ s Cycl Amer Bio, fail, and that coercion of slave states by the Cambridge Dict Amer Bio, Dict Amer federal government would create terrible Bio, Dict Lit Bio, Nat Cycl Amer Bio, consequences. Rather than emancipation, WWWHV then, Carey encouraged putting the slaves Bradsher, Earl L. Mathew Carey, Editor, to work in southern factories, and thereby Author and Publisher: A Study in Ameri- bring industry and economic protection to can Literary Development (New York, the American South as well. 1912). Carey ’ s inﬂ uence upon the world of pub- Carter, Edward C. “ Mathew Carey and lishing and political economics during the ‘ The Olive Branch,’ 1814 – 1818, ” American Enlightenment should not be Pennsylvania Magazine of History and marginalized. In his Autobiography , Carey Biography 89 (1965): 399 – 415. noted his three greatest achievements in: the Carter, Edward C. “ Mathew Carey in pro-Irish publication Vindiciae Hibernicae ; Ireland, 1760 – 1784, ” Catholic Historical his defense of American protectionism; and Review 51 (1966): 503 – 27. publication of the Olive Branch . If he had Clarkin, William. Mathew Carey: A Biblio- lived longer, he might have also included graphy of His Publications (New York, on the list his lasting inﬂ uence upon his son 1984). Henry Charles Carey as well as the Ameri- Dorfman, Joseph. The Economic Mind in can System that reached fruition in the latter American Civilization, 1606– 1865 , vol. 2 half of the nineteenth century. (New York, 1946). Green, James N. Mathew Carey, Publisher BIBLIOGRAPHY and Patriot (Philadelphia, 1985). Olive Branch (Philadelphia, 1814). Kaser, David. Messrs. Carey & Lea of Vindiciae Hiberniae (Philadelphia, 1819). Philadelphia: A Study in the History of The New Olive Branch (Philadelphia, the Booktrade (Philadelphia, 1957). 1820). Rowe, Kenneth W. Mathew Carey: A Study A View of the Ruinous Consequences of a in American Economic Development Dependence on Foreign Markets for the (Baltimore, Md., 1933). Sale of the Great Staples of this Nation, Flour, Cotton, and Tobacco (Philadel- Marc-William Palen phia, 1820). Universal Emancipation (Philadelphia, 1827). Address to the Wealthy of the Land (Balti- more, Md., 1831). CARNAHAN, James (1775 – 1859) Other Relevant works Carey ’ s papers are in the Historical Soci- James Carnahan was the President and phi- ety of Pennsylvania in Philadelphia; losophy professor at Princeton for over thirty the American Antiquarian Society in years. He was born on 15 November 1775 Worcester, Massachusetts; the University in Carlisle, Pennsylvania. Because he had of Pennsylvania; the Library Company of undertaken excellent preparatory studies, he Philadelphia; and the Clements Library of was able to enter the College of New Jersey the University of Michigan. at Princeton (now Princeton University) with Autobiography (Brooklyn, N.Y., 1842). the junior class. He graduated with the BA

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Volume 2 M – Z

GENERAL EDITOR John R. Shook

Dictionary_Voume_II.indb iii 2/25/2012 7:53:58 AM RAYMOND

Stearns, A. Warren. “ Isaac Ray: Psychiatrist government would act as a check upon the and Pioneer in Forensic Psychiatry,” selfi shness of the individual. He thus sought American Journal of Psychiatry 101 a workable moral political order to promote (1945): 573 – 84. social welfare through a regulatory and Weiss, Kenneth J. “ Isaac Ray’ s Affair redistributive national government. with Phrenology, ” American Academy Raymond ’s principles were often at odds of Psychiatry and the Law 34 (2006): with the laissez faire proponents of Europe, 455 – 94. especially Adam Smith, Jean-Baptiste Say, Weiss, Kenneth J. “ Isaac Ray’ s and John Malthus. Raymond had more Bibliography: Some Addenda and Ray’ s in common with earlier mercantilists, and Evidence-Based Thinking,” American repudiated Adam Smith’ s adherence to the Academy of Psychiatry and the Law 35 agricultural and free market biases of the (2007): 109 – 11. French Physiocrats. He disagreed with many of Smith ’ s “ absurd theories.” Smith had a Eric v.d. Luft “ singular aptitude” for ambiguity, and wrote “ incoherent, unintelligible nonsense.” Partic- ularly, Smith had not distinguished between the wealth of the individual and the nation (1820, 184, 70). Raymond ’ s views on the relationship between wealth, property, and soci- RAYMOND, Daniel (1786 – 1849) ety were indeed radical. Individual wealth, Raymond contended, meant productive Daniel Raymond was born on 12 Sep- property such as land, tools, and money. The tember 1786 in Montville, Connecticut, a sum total of private wealth, however, did not descendant of Puritan families. He attended necessarily equal national wealth. National Tapping REEVE’ s law school in Litchfi eld, wealth was defi ned by a nation’ s capacity for Connecticut, and then he moved to Balti- guaranteeing a high standard of living for more in 1814, where he helped defend Fort all its citizens. Land and capital (individual McHenry during the last year of the War of wealth) therefore needed to be entwined with 1812. He became involved with the local a skilled and industrious citizenry to stimu- Colonization Society, and took part in orga- late labor through governmental promotion nizing an Anti-Slavery Society in 1825. He of industry and consumption. moved to western Maryland in 1830, and by Private wealth, then, did not guarantee 1842 he moved to Cincinnati where he was national wealth. Raymond thus did not con- an unsuccessful newspaper editor. Thereaf- sider land ownership as an inherently natural ter he practiced law in Cincinnati, Ohio until right, but as one of special privilege. Prop- his death on 13 July 1849. erty owners, with their inclinations toward Raymond is commonly considered as the selfi shness and hoarding of personal wealth, fi rst economist in the United States, owing to needed governmental discipline to push his systematic, albeit unorthodox, approach their private wealth into the “ great stream to political economics. Although a lawyer of public wealth ” in order to protect those by training, he spent a great deal of his life who had less (1823, vol. 1, 168). A wide expanding upon his 1820 work Thoughts on distribution of property was both moral and Political Economy. Raymond incorporated essential to an effi cient system of labor and Puritan moralism within the tradition of production. Raymond even proposed limit- natural law throughout his works. A fervent ing land ownership to one lifetime in order nationalist, he believed that a strong federal to discourage unequal wealth accumulation

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and the subsequent idleness, immorality, the basic necessities of life and material for and luxury that came with it. Drawing a consumption. He also admitted that farmers, proper Calvanistic conclusion, Raymond more than merchants or tradesmen, were thus thought that government, as the “ good superior in character: farmers had more shepherd, ” ought to make sure, by force or “ elevated and liberal minds.” The purity of redistribution if necessary, that the wealthy a farmer’ s living “ softens the heart and liber- landed class took proper care of those with- alizes the mind, ” while city life “ hardens the out (1823, vol. 2, 23). heart, contracts the mind, and corrupts the Raymond also put great emphasis upon passions ” (1823, vol. 1, 216). Yet balance the importance of full consumption. In order had to be sought. Manufacturing, having to stimulate economic growth, he thought, a been neglected and underdeveloped owing nation had to fully utilize its potential labor to this agricultural bias, therefore needed through full consumption and increased government support. Furthermore, wary of demand. The production of too many too much dependence upon fi ckle foreign unwanted products led to waste, ineffi ciency, markets, Raymond argued that an increased decreased demand for labor, and economic manufacturing sector safely provided an depression. Full consumption alternatively increased market for domestic goods. Com- created full employment and higher wages. merce likewise encouraged consumption, Government offi cials were therefore respon- leading to increased production. Internal sible for ridding a nation of its surplus goods trade thus needed to keep up with consump- through either increased consumption or, if tion and production, and further necessitated necessary, by destroying the surplus, lest it internal improvements for this purpose. create a glut. Even wasteful consumption cre- He viewed free trade, alternatively, as too ated by wars, he noted, aided as a stimulus favorable to large landowners by increasing for a nation ’ s wealth. Raymond ’ s solution to the value of land, thereby raising the costs the consumption of surplus goods was thus and lowering the living standards of the land- for government regulation through prop- less poor. The protective tariff, if used wisely, erty distribution, punitive laws to impede would alternatively increase American com- the hoarding of wealth and hedonism, and petitiveness among foreign markets and could spending to encourage market expansion. stimulate domestic demand for American Raymond also desired a strong public edu- goods and labor. He granted that tariffs cre- cation system and internal improvements. If ated internal monopolies, but at the expense done effi ciently, internal improvements, paid of foreigners rather than Americans. He also for by government taxation, would invari- conceded that a tariff slightly increased costs ably create more national wealth than capi- for the consumer, but he maintained that the tal spent. Improvements to public works and national benefi ts outweighed such a relatively national transportation, for instance, used small sectional detriment. Adverse effects surplus labor and led to long-term expan- brought about by a tariff upon certain indi- sion of markets. Such expenditures also led viduals or sections ought to be ignored if a to equitable wealth redistribution, as the nation ’ s wealth as a whole increased. Upon wealthy would pay more taxes to cover the the tariff issue, as on others, Raymond there- expenses of the internal improvements that fore believed that public interests rather than would benefi t the many. private should motivate national policy. Raymond took issue with the Physiocratic Raymond ’ s demand for an economi- over-emphasis upon agriculture at the cally active national government, especially expense of commerce and manufacturing. through a protective tariff and internal He agreed with them that the earth provided improvements, allied him with Henry Clay’ s

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American System, although Raymond did Further Reading fi nd some common ground with Jacksonians Dict Amer Bio, Nat Cycl Amer Bio, concerning the dangers of banks of issue, WWWHV the evils of monopolies and charters, and Conkin, Paul K. Prophets of Prosperity: demands for property distribution for the America’ s First Political Economists betterment of national welfare. Raymond (Bloomington, Indiana, 1980). found himself in further agreement with Clay Dorman, Joseph. The Economic Mind in regarding southern slavery, an ineffi cient sys- American Civilization, 1606– 1865 , vol. 2 tem that he predicted would have long-term (New York, 1946). adverse economic and demographic effects. Kaufman, Allen. Capitalism, Slavery, and As he originally laid out in The Missouri Republican Values: Antebellum Political Question (1819), southern black slavery Economists, 1819– 1848 (Austin, Texas, eventually would lead to massive increases 1982). to the slave population relative to white Lundberg, Kenneth. Daniel Raymond: plantation owners, and possibly revolution. Early American Economist . PhD All the while, southern yeomen suffered eco- dissertation, University of Wisconsin nomically from the lack of job opportuni- (Madison, Wisc., 1953). ties offered by the system. Slave expansion Neill, Charles P. Daniel Raymond: An Early needed to be halted in order to contain this Chapter in the History of Economic ill-conceived system of slavery. He opposed Theory in the United States (Baltimore, laws favoring slavery, and favored manumis- Md., 1897). sion followed by black colonization in Africa Petrella, Frank. “ Daniel Raymond, Adam or the Caribbean. Smith, and Classical Growth Theory: an Raymond, the “ fi rst economist” in the Inquiry into the Nature and Causes of the United States, developed systematic and Wealth of America,” History of Political often radical political theories on a vast Economy 19 (1987): 239 – 59. array of issues, setting the stage for fur- Teilhac, Ernest. Pioneers of American ther debates over the economic role of the Economic Thought in the Nineteenth national government during the Age of Century (New York, 1967). American Enlightenment. Marc-William Palen BIBLIOGRAPHY The Missouri Question (Baltimore, Md., 1819). Thoughts on Political Economy (Baltimore, Md., 1820). The Elements of Political Economy , 2 vols RAYMOND , Joseph-Sabin (1810 – 1887) (Baltimore, Md., 1823). The American System (Baltimore, Md., Joseph-Sabin Raymond was born on 13 1828). March 1810 to French merchant Joseph The Elements of Constitutional Law and Raimond and his wife Louise Cartier in the Political Economy (Baltimore, Md., town of Saint-Hyacinthe, located east of 1840). Montr é al in Lower Canada. As a teenager Raymond began studying at the Sé minaire Other Relevant Works de Saint-Hyacinthe and he continued these The Bankrupt Law, the Fiscal Agent, studies for nine years, from 1817 to 1826. and Auction Duties (n.p., 1841). His teachers at the seminary were originally

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