greatest; or in other words, that employment which is the most profit-
able to him. And that will, generally speaking, be the most profitable,
whose products are not in sufficient abundance for the demand.

"It is thus clear, that every individual will prosper most, when his
exertions are properly directed by an enlightened self-interest, guided
by the principle just stated; and that the wants of society, so far as
they can be supplied, will be effectually supplied in this manner. . . .

"Where then, let me ask, is the need for the interference of govern-
ment? It must be a blind director. It cannot produce a better employ-
ment of the labour and capital of an individual, than he or his friends
can choose."

"The effects of this legislation [The Tariff Act of 1824] were imme-
diate and gratifying, realizing the predictions of its friends and pro-
moters. Every class felt the revival of business and the general pros-
perity; the factory, the farm, our shipping, mercantile, commercial,
and mining interests all enjoyed the change."

"It is not going too far to say that no important feature in our eco-
nomic development during that period [i.e. 1789-1860] can be attrib-
uted unmistakably to tariff legislation. No important industries can
be said to have been created or prevented from growth by that legis-
lation. Other influences determined the main features of develop-
ment, and the tariff policy did nothing more than modify them a little,
where it had any effect at all."

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