OF POLITICAL ECONOMY. Library. Of Californis BY SAMUEL P. NEWMAN, "The best security for a free government, and generally for the public peace litical, as well as its other interests."-Lord Brougham. ANDOVER: GOULD AND NEWMAN, PUBLISHERS. NEW YORK: H. GRIFFIN AND COMPANY. Entered according to Act of Congress in the year 1835, by GOULD AND NEWMAN, in the Clerk's Office of the District Court of Massachusetts. •N45 PREFACE. It has been a leading object of the author of the following work, to prepare a text book, in which the more important principles of the science of Political Economy are developed in their application to the usages and institutions of our own country. The defect of the text books now in use in this particular, is acknowledged; and this circumstance has tended, in no small degree, to prevent the general and strong interest in the science, as a branch of education, which it may justly claim. For in a selfgoverning community, it is especially important, that the constitution of society should be studied, and "the reasons of things" well understood. Many unfounded prejudices are also thus removed, the public mind is enlightened, and led to adopt those measures, which are for the public good. It The author has not deemed it expedient to embrace the opinions of any school of Political Economists. will be found, however, that he is more indebted to A. Smith's Inquiry into the Nature and Causes of the Wealth of Nations, than to any other work on this science. Many sentiments and opinions of this "Father of |