and, as there is very little water-carriage between it and Canada, the route will prove a most expensive one, particularly to people who carry many articles along with them.'

The passage to Quebec or Montreal, provisions included, is about seven pounds; half price for children. Emigrants should convert any money that they have into guineas, or dollars; British bank-notes, or any other silver, not being current in Canada. It is advisable to waste no time at either of those cities, where living is very expensive: but, having ap plied for information about vacant lands at the Emigrantoffice, to proceed as fast as possible to York, which is the centre of all transactions connected with the purchase of land. Steam-boats ply every day between Montreal and Quebec, and the passage costs fifteen shillings. The emigrant should then secure a place in one of the batteaux which are rowed up the St. Laurence, and arrive at Kingston in about six or seven days: the expense being twenty-eight shillings for each person. A steam-boat leaves Kingston once a week for York, in which the steerage-fare is fifteen shillings. He must now go to the Land-office; and, on proving himself a British subject, he receives a grant of fifty acres of land, free of cost. If he wishes for more, he must pay fees to a certain amount. For one hundred acres he pays 5l. 14s. 1d.: for two hundred, 16l. 17s. 6d.; and for every additional hundred, he pays an additional fee of about 77. 14s.: the fee for twelve hundred acres amounts to 931. 18s. 4d. All lands are bestowed under certain stipulations such as that the settler must clear five acres on each hundred granted to him, must open a road in front of his lot, and build a log-house of given dimensions. These settling duties being performed within eighteen months after the location-ticket has been issued, he is intitled to a deed from Government, which makes the lot his property for ever. The emigrant would do well, Mr. Howison says, to choose his lot in some part of that tract of land which extends from the mouth of the Niagara river to the head of Lake Erie. If he has a wife and family with him, he ought to leave them at York, (where he should not arrive later in the season than the month of July,) while he proceeds in the selection of his residence; as it will add very much to his expence and inconvenience, if they accompany him in his search.

This volume affords a great portion of useful information, particularly in the fourteenth letter, for emigrants; and the common reader will not be disappointed in his expectation of interesting narrative: but Mr. H. has unhappily something of a cacoethes for fine writing, in which he does not excel. A few out of a very great many instances will suffice to shew the

false

false taste which pervades his book. The grand river Ottawa may fairly be allowed to roll majestically and glitter in the sun:' but, when the king-fisher, with orient plumage, springs out of the thick copse, like a fragment of the rainbow, darting from behind a dark cloud,' (p. 11.) we are very much disposed to bring him down with a gun-shot. In a forest where axes rung in every thicket, and the ear was occasionally startled by the crashing of trees falling to the ground,' Mr. H. attempted to ascertain the age of an oak by counting the 'circumgirations of the wood:'-its circles, we suppose, would not have been round enough for the sentence. In this identical forest, fallen trees may be observed in all stages of decay, 'from simple rottenness to that of absolute disintegration? (pp. 21, 22.) When conducted to his apartment at a tavern, he heard distant stertorous murmurs which seemed to proceed from the lungs of some person who was asleep.' (P. 27.) Mr. H. once stepped into a canoe, where the influence of the heat and scenery was overpowering, and he fell into a half slumber, but was occasionally awakened to a consciousness of his situation by the radiant flashes which were shot forth by the sun-dipt wings of the humming birds which flew over him.' In describing the Falls of the Niagara, he has out-Heroded Herod, and beaten Bombastes Furioso out of the field: he has copied the poet's advice, has made "the sound an echo to the sense," and, like the cataract itself, his description of it is all splash, dash, roar, and foam. - His national substitutions of will for shall, would for should, &c. are innumerable.

The Recollections of the United States of America' add nothing to our previous knowledge respecting them, and confer no particular credit on Mr. H.'s publication.

ART. IX. An Essay on the Production of Wealth; with an Appendix, in which the Principles of Political Economy are applied to the actual Circumstances of this Country. By R. Torrens, Esq., F.R.S. 8vo. pp. 430. 12s. Boards. Longman and

Co. 1821.

We have for some time delayed to make our report of this

work, in the hope that, before this time, the author would have given us an opportunity of perusing the Appendix announced in the title-page, in which the principles of Political Economy are promised to be applied to the actual circumstances of this country: but no such Appendix has yet reached us, and we shall now direct our attention to the volume before us. Colonel Torrens speculates, somewhat sanguinely, that the period of controversy is fast passing away, and that twenty

years

years hence scarcely a doubt will exist respecting any fundamental doctrines of this science. Important as it is that these doctrines should be universally recognized, we should almost regret that the period of controversy were closed: because, while it employs the attention of men of the first intellect and the acutest powers of reasoning, we must add, to the honor of those engaged in it, that it has been uniformly distinguished by a degree of courtesy, candor, and mutual respect, which forms an exemplary contrast to the scurrilities of party-politicians, and the still bitterer maledictions of theological polemics.

The first chapter treats on Wealth, Value, and Price,' gives a definition of these terms, and explains the circumstances by which they are related as well as those by which they are contradistinguished. The period of controversy' is certainly not yet passed away; for we are repulsed at the opening of the door, when Colonel Torrens, like Mr. Malthus, confines his definition of wealth to material articles. So frequently have we stated the objections which lie against this limitation of the term, that it would be inexcusable to occupy much time in repeating them. Wealth does not exist exclusively in the solid form of houses, land, corn, money, merchandise, and other material substances: for there are treasures of the intellect, invisible and intangible, but not the less real, not less to be considered as the object of economical science, which are indebted for existence to the labor of no human hands, to no machinery, and to no capital. Till the lecture of the Philosopher, the Physician, and the Divine shall cease to instruct; till the narrative of the Novelist and the visions of the Poet shall fail to delight; till the dance of Vestris, even, and the song of Catalani, shall have no power to surprise and fascinate; till these varied creations of the mind, we say, shall cease to excite the industry of others, and to be rewarded by voluntary contributions of substantial revenue, we must not restrict the definition of wealth to material articles. We are not allowed to state that the wealth of a sculptor is his block of marble; of an artist, his stock of canvass, colors, and brushes; of an actor, his wardrobe; or of a musician, his Cremona. No; it is the genius, talent, and acquirements of these persons, it is the science of the chemist, the skill of the surgeon, the eloquence and learning of the lawyer, which constitute their own wealth, and contribute to the wealth of the country that they adorn. In an age of opulence and refinement, the exertions of every class of people are required; some because they instruct and others because they delight: they receive an ample and willing remuneration

ine xchange for their intellectual labors; and the expenditure of the income, so derived, increases the material productions of the community at large, by encouraging the industry of the agriculturist, the merchant, the manufacturer, and the mechanic.

In this chapter, we find a theory of exchangeable value which we shall briefly attempt to explain; for it is original and ingenious. In that early period of society which precedes the division of land and labor, and the accumulation of stock into capital, the labor expended on production is the only circumstance which causes a given quantity of one commodity to be exchanged for a given quantity of another. Mr. Ricardo has pushed this principle farther, and has contended that in all periods of society the labor expended on the production of a commodity is the main regulator of its value. Two kinds of labor are required in bringing a commodity to market, and the question is, Which is the regulator of its value? or, Is it a combination of the two? These kinds are the immediate labor of the persons employed, and the previous labor accumulated on the materials used. If two savages return from the chase, each bringing home as much game as he can consume before it is putrid, and as many branches of trees as are sufficient to replace the arrows expended in procuring it, neither will have any inducement to barter; they will both have wealth, though possessing no value in exchange: - but, if one of them brings home game enough for two days, without any branches, and the other brings branches enough for the expenditure of two days in shooting, but no game, the superfluous acquisitions of each will have an exchangeable value; and the product of the labor in obtaining game for one day will be gladly exchanged for the product of the labor in obtaining branches for one day's expenditure in arrows. Now let us advance another step.

Capital is accumulated labor: it is a species of the genus Wealth; and its distinguishing characteristic is that it is destined not to the immediate supply of our wants, but to the purpose of reproduction,-to the obtaining of future articles of enjoyment or utility. Capital, therefore, is always wealth, but wealth is not always capital. Before the distinction of laborers and capitalists, the produce of a day's labor in one occupation would exchange for the produce of a day's labor in any other occupation, whether the whole labor be employed immediately and directly in obtaining articles for consumption, or whether a portion of it be previously exerted in acquiring the capital necessary to the production of such articles. Thus if vegetable productions can be gathered without the aid of capital, while for every day occupied in the chase a previous day is required in preparing implements, which are

the

the hunter's capital; then, the produce of one direct day's labor in the chase will exchange for the produce of two days' labor in gathering fruits, because the labor which had prepared the capital must be taken into account as well as the labor which applies it.

We must now proceed to more advanced and complicated stages of society, and inquire what it is which determines the quantity of one commodity that shall be given in exchange for another, when capitalists and labourers have been separated into dis

tinct classes.

'Let there be two identical capitals, each consisting of a hundred quarters of corn, and a thousand pounds of wool; and let the proprietor of one of these capitals employ it in manufacturing broad cloth, while the proprietor of the other capital employs it in preparing carpeting. Now it must be evident, that the cloth and carpeting on which equal capitals were expended would be of equal value. If either of these manufacturers offered a part of his productions in exchange for the whole of the productions of the other, the other would immediately reply," For the articles which I have had fabricated from a hundred quarters of corn, and a thousand pounds of wool, you must give me the whole of the articles which you have had prepared from a like capital. My capital is of equal power with yours; and if you will not barter upon equal terms, I can at any time employ as many labourers as will produce to me that which you refuse." To this no reasonable objection could be urged. Hence we see, that when the capitalists become a class distinct from the labourers, the results obtained by the employment of identical capitals, or identical quantities of accumulated labour, will be equal in exchangeable value.'

In this instance, the two capitals are identical, but the result would be the same if they were only equivalent; for instance: the capital of A.consists of subsistence for one hundred laborers, with a thousand pounds of wool, equal in value to this subsistence, and the capital of B. consists of subsistence for one hundred laborers with a thousand pounds of cotton: the woollen goods and the cotton goods will, in this case, have an equal exchangeable value. The distinction then is, that, before the separation of capitalists and laborers, it is the sum of accumulated and immediate labor expended on production which determines the exchangeable value of commodities: but, after that separation, it is the amount of accumulated labor alone, or capital, which determines it.

Equivalent capitals may possess very different degrees of durability, and they will often put into motion different quantities of immediate labor: but in neither of these cases is the general principle disturbed, as Colonel Torrens has shewn by various examples.

The