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BER 31, DELIVERIES FOR THE SAME PERIOD, AND STOCK ON HAND JANUARY 1, 1852: Tobacco, State warehouses. No. 1. No. 2, No. 3. No. 4. No. 5. Total. Stock, January 1, 1851.. 3,293 1,697 1,974 1,673 1,980 10,617 Inspections of 1851..... 10,044 7,922 7,151 8,860 8,765 42,742

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Stock, Jan. 1, 1852. 3,996 3,259 2,708 4,082 3,654 17,699 THE FOLLOWING STATEMENT SHOWS THE STOCK IN WAREHOUSES ON THE IST OF JANUARY,

1851, AND THE QUANTITY OF EACH KIND INSPECTED FOR THE YEAR ENDING DECEMBER 31. Stock in warehouses, January 1, 1851....

.hhds. 10,617 Stored in private warehouses...

912 Total....

11,529 Inspections from January 1 to December 31, 1851, viz:Maryland..

.bhds. 25,013 Ohio.....

16,798 Kentucky

878 Pennsylvania....

53 Virginia. Total..




Exported from January 1, 1850, to 1851:-
To Bremen....

Austria ..
West Indies...





Stock, January 1, 1852.......

17,699 Manufactured Tobacco. The stock of manufactured tobacco now in agents' hands is light for the season, and made up chiefly of medium and good kinds. Fine tobacco is scarce, and will maintain high prices during the spring and summer, and of common grades the market is poorly supplied, when we consider that this is the season for their manufacture. Prices show a decided improvement over the unsteady rates of last summer, when the stock was much larger; sales were depressed, and the prospect of a heavy crop gave cause for alarm. The markets of Virginia are becoming very bare of the raw material, and prices have advanced to a position which, with the large orders (including the French contract) soon to come into market, will at least be maintained, if a further ad. vance does not occur. The prospects of a good and early spring business in this article are favorable. We quote: Fine pound lumps, from.. 35 to 40 No 1, 5's a 8's......

18 to 20 Good 25 to 30 Medium“

14 to 16 Medium 18 to 20 a 22 Common kinds, from..

10 to 12 First brands of 5's a 8's...



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Including 637 hhds. on board ship Alabama, not cleared. + Including 350 bhds. shipped via New York.

Notr. The quantity exporied coastwise, as reported above, is exclusive of that received from the District of Columbia, amounting to 600 or 700 bhds., which is not required to be inspected at Balti


WHISKY. There are three distilleries in Baltimore kept in active operation the year round, capable of manufacturing at least 200 burrels a day; and another establishment upon a large scale is about to commence business. The whole amount manufactured here during the past year must have reached, at the lowest calculation, 40,000 barrels ; and the quantity received from the country is estimated at 60,000 barrels; making a total, in round numbers, of 100,000 barrels.

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Ohio. Virginia and other kinds. Total 25,013 16,798


42.742 27,085 13,965


41,833 30,689 13,66 1 1,248

45,60; 23,491 9,702


33,906 34,580 15,219


50,571 41,416 29,626


71,896 39,538 26,696 1,765

67.989 32,219 15,464 1,244

48,957 29,354 13,465 4,877

47,696 33,759 11,278 1,439

46,476 29,980



1816. 1845. 1844, 1843. 1842. 1841.


Bremen. Rotterdam. Amsterdam. France. All other pla's. Total. 1851.

12,654 9,694 4,154 2,327 5,292 34,124 1850.

15,864 7,814 5,973 8,177 6,540 44,368 1849.

18,821 13,783 8,725 9,562 1,033 51,924 1848.

12,787 7,910 3,103 4,959 131 38,890 1847.

22,967 7,819 11,388 9,413 1,895 53,482 1846.

24,404 9,498

6,181 6,371 3,037 49,491 1845.

26,832 18,171 10,914 7.183 2,880 66,010 1844.

17,139 11,864 7,095 7,212 1,594 44.904 1843.

16,990 6,525 7,325 7,932 3,822 42,594 1842.

17,719 18,874 8,109 4.682 2,379 43.763 1841.

16,373 7,918 5,169 6,022 2,519 38,001 Wool. As near as can be estimated, there have been about 500,000 lbs. of domestic wool of all descriptions sold in this market during the past year, About the first of June prices ru ed high, averaging for washed 37 cents, and for unwashed one-third less; after that time the market fell down to 30 cents, since when, however, it has been steadily improving. We understand that the high prices which wool brought last year induced many farmers to turn their attention more particularly to sheep, so that in all probability there will be an increased production of wool in 1852 upon that of last year. There were but two cargoes of foreign wool imported here during the year, announting to about 200,000 lbs., all Peruvian, a part of which has, we understand, been sent to England, and the remainder is still in the market.

EXPORTS OF BALTIMORE IN 1851. Domestic produce in American vessels...

$4,460,620 Domestic produce in foreign vessels..

1,775,041 Total domestic produce exported......

$6,235,661 Foreign merchandise in American vessels..

8224,579 Foreign merchandise in foreign vessels

5,925 Total exports of foreign merchandise ...

$230,504 Value of domestic produce exported, as given above..


Total exports for 1851.....
Total exports for 1850..

$6,466,165 $8,526,457 Art. 1.-OPDYKE'S POLITICAL ECONOMY.*

A CHANGE in the civil affairs of mankind so wide and so vast as that which consists in the substitution of Republican principles for absolutism, or limited monarchies, must necessarily cause an entire revolution in those sciences which are founded upon the existence of political institutions. So fundamental are the principles of government, and so antagonistic is despotism to popular rights, that the establishment of the latter must render false a large mass of the opinions and doctrines held as sacred within the domain of arbitrary power.

The influence of Republican principles has, even yet, manifested itself only in a feeble degree in this country, in consequence of the habit of the people to look for knowledge, science, and truth, to the stores that have been accumulated under the dark and frowning shadow of absolutism that has for centuries brooded over Europe, or under monarchical systems. Happily a brighter day is at hand. The citizens of this country must become popularized, not only in their rights, their institutions, but in their systems of political and social science.

This is a feature that has struck us very favorably in the work on Political Economy which is now open before us; and when we find the author declairing as he does in the following extract from his preface, that republicans need a system of Political Economy in perfect harmony with the other portions of their political edifice, he at once awakens in us an interest to peruse his pages. Speaking of Mill's work on Political Economy, his words are these :

“ Like most other scientific works on this subject, it is the production of one who has been reared and educated under political institutions very different from ours; and it is chiefly designed to meet the wants of British readers. For these reasons we must expect to find it imbued with ideas and opinions in which we cannot concur, as well as encumbered with discussions of no direct interest to Us. What we republicans need, is a system of Political Economy in perfect harmony with the other portions of our political edifice. In other words, we want an honest, straightforward system--a system grounded on the broad principles of justice and equality, and in all its doctrines and legislative applications solely designed to illustrate and enforce those principles. We have no right to look for anything of this kind from quarters in which the opposite principles of government are taught and practiced upon; but we have a right to expect it from Americans. Indeed we are already required to devise such a system for our own guidance: our duty to ourselves and to the form of government we have adopted, alike demand it. Nor can we much longer neglect this duty without forfeiting our claims to the title of consistent republicans.”

It is from a work of such high aims and character, although the author seems entirely unconscious of any pretensions of the kind, and

speaks of his volume as,

a rudely drafted model of what such a treatise should be," that we propose to present a few outlines, by way of inducement to our readers to seek out this volume, and to contemplate the science of Political Economy in its republican aspect.

Of course, in an effort of this kind, it is necessary to probe the first


• A Treatise apon Political Economy: By George Opdyke. 12mo. pp. 339. Published for the proprietor by G. P. Putnam.

foundations and rudiments of the system, and to trace them from the very nature of man himself, as it is elevated and ennobled by the development and recognition of his rights. The right of private property, therefore, forms a subject of discussion in these pages; and, doubtless, there are many who regard it as a question of pre-eminent importance, and as resting at the very root of any system of Political Economy. On this point we find the author using these words :

"I hope the general tendency of the views advanced may lead to conservatism, and not to socialism, as regards the institution of property. What society needs is, not that this institution should be destroyed, but that it should be rendered more perfect, and established on principles more absolutely just.”

The introduction contains a summary view of the entire domain of human knowledge, in which the science of wealth appears to be a mere point scarcely large enough to be perceived. Like everything else, however, the nearer we approach it the broader it becomes, until, upon entering the gate that opens to its province, and attempting to trace out the consequences of that law of human nature which begets in mankind the desire of wealth, we find how vast its branches are. After having pointed out the position and character of the field of inquiry under consideration, as well as its relations to other sciences, the author presents us with his definition of Political Economy, rather as serving to mark the limits within which his investigations will be conducted, than as necessary from any defect in other definitions. He

says :“Political Economy I regard as the science whose peculiar province it is 1. To uufold the law or laws of human nature from which the desire of wealth emanates. 2. To explain the nature and attributes of the resulting phenomena, wealth-or more properly, value. 3. To point out the prime agents of its production, together with the manner in which their respective services concur in the process. 4. To ascertain and describe the social machinery that political communities have devised and adopted, as general auxiliary agents of production. And, 5. After ascertaining these fundamental truths, which may be regarded as the groundwork of science to trace out the resulting principles, or natural laws which govern the production, distribution, and consumption of social weaith. Thus far the province of Political Economy is purely scientific it is confined to the investigation of principles, and the above definition of it indicates the limits within which the first division of this inquiry will be confined. But after science has unfolded the laws and principles from which wealth results, and those to which it gives birth, it is also the province of Political Economy to point out their proper application by indicating the true economic polity of governments. The second division of this inquiry will be an attempt to execute a part of that task.”

In a scientific point of view, this introduction is valuable, containing as it does a classification of knowledge which is both new and original, and which

a has been attempted with equal success by only a few others. There are many passages in it of singular clearness and force, especially the one defining truth ; but as they do not strictly come within our view, we must pass them over, however strong the temptation to insert them.

A strictly scientific discussion of the subject is now entered upon; and here we frankly confess that we must give up all hope of doing justice to this part of the work, owing to the limits within which we are confined, and the extreme difficulty of presenting within a small compass, what, even when rigidly and severely condensed, occupies many pages of the volume. We




can only touch upon a few points, and indicate some views, hoping that will be sufficient to stimulate the reader to examine this able and interesting discusssion for himself.

In considering the science of wealth, the first inquiry naturally relates to its origin; and this also involves in itself a definition of that wherein wealth consists. The term is thus explained in these pages :

The term wealth, or social wealth, I regard as the general name of that class of things which possess the attribute, value; and value I conceive to be that property of things, which prevents their obtainment unless other things possessing the same property be given in exchange for them. This attribute is sometimes called exchangeable value, but I hold the adjective to be unnecessary. Value, then, in the sense in which the term is used in this treatise, may be regarded as the vital principle or essential portion of social wealth, a more expressive name for which would be artificial utility; because that property of things which we term value is, in fact, neither more nor less than the utility wherewith they have been invested by artificial means."

In treating of the nature of wealth, the same definition is thus stated :“Value is that portion of utility which has been created by artificial means.” In other words, as we understand it—it is artificial utility as contradistinguished from natural utility-that is, it is the service which has been transferred from productive agents to the matter upon which their powers have been exerted. The manner in which this is developed is thus described :

“Let us now take this undeveloped germ of wealth, as we find it existing in the hands of uncivilized men, aud trace its progress when under the control of those more gifted. We shall thus learn by what methods they have succeeded in imparting to the dormant germ the active principle of development, and the increased security from violence, by which it has been expanded into social wealth. If judged by their effects, these methods must possess an extraordinary degree of efficacy, for they have already transformed the wilderness into cultivated fields--dotted the earth with cities, towns, and hamlets--covered the ocean with Commerce, and elevated man from a state of barbarism to civilization, besides increasing immensely the population of the world.

“ The portion of services contributed by the mind in the production of value, is called skill; the portion contributed by the body, labor; t e joint service of the two, I shall term industry. The first value produced in the world must have emanated exclusively from these two sources, because skill and labor could have had no artificial aids until such were fashioned by themselves. But the moment a share of the services of skill and labor was diverted from the immediate to the intermediate objects of desire, that moment these objects were made to assume the forms of auxiliary machines, (better known perhaps by the name of produce tive capital,) so as to aid in the process. By this expedient, the projectors of wealth made value to concur in the process of creating other value, thus pressing it into the service of reproducing itself, or rather, of aiding in that process; for it is familiar knowledge that the most perfect machinery is unproductive without the superintendence of skill and labor. For example, the method of breaking up the soil by means of the horse and plough, or even by the spade, is a great improvement on the natural plan of using the fingers and toes ; but these means cannot be employed without human aid and guidance. Therefore, all three must concur in the process; whence, it is apparent, that the value produced will be the common offspring of this triple parentage. N are these all. Nature in various ways, aids in the process; and it has been found necessary to subject to individual appropriation and ownership some of the means she contributes. Nature, for example, provides the soil whereon the art of agriculture is prosecuted, together with the atmosphere, light, heat, and rain, required to devel. op the plants, and perfect the fruits; and although the soil, like the other con

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