Democratick Editorials: Essays in Jacksonian Political Economy
By William Leggett
Ten years after Thomas Jefferson’s death in 1826, an outspoken young editor in New York City was reformulating and extending the Jeffersonian philosophy of equal rights. William Leggett, articulating his views in the columns of the New York
Evening Post,Examiner, and
Plaindealer, gained widespread recognition as the intellectual leader of the
laissez-faire wing of Jacksonian democracy…. [From the Foreword by Lawrence H. White.]
Lawrence H. White, ed.
First Pub. Date
Indianapolis: Liberty Fund, Inc. Liberty Press
Essays first published 1834-1837.
Portions of this edited edition are under copyright. Picture of William Leggett courtesy of United States Library of Congress. Original contains the inscription: "Engraved by Sealey, from a Painting by T. S. Cummings, N A." and includes Leggett's signature below.
- Foreword by Lawrence H. White
- Part I, 1. True Functions of Government
- Part I, 2. The Reserved Rights of the People
- Part I, 3. Objects of the Evening Post
- Part I, 4. Reply to the Charge of Lunacy
- Part I, 5. The Legislation of Congress
- Part I, 6. Religious Intolerance
- Part I, 7. Direct Taxation
- Part I, 8. The Course of the Evening Post
- Part I, 9. Chief Justice Marshall
- Part I, 10. Prefatory Remarks
- Part I, 11. The Sister Doctrines
- Part I, 12. The True Theory of Taxation
- Part I, 13. Strict Construction
- Part I, 14. Legislative Indemnity for Losses from Mobs
- Part I, 15. The Despotism of the Majority
- Part I, 16. Morals of Legislation
- Part I, 17. The Morals of Politics
- Part II, 1. Bank of United States
- Part II, 2. Small Note Circulation
- Part II, 3. The Monopoly Banking System
- Part II, 4. Uncurrent Bank Notes
- Part II, 5. Fancy Cities
- Part II, 6. Causes of Financial Distress
- Part II, 7. Why Is Flour So Dear
- Part II, 8. Thoughts on the Causes of the Present Discontents
- Part II, 9. Strictures on the Late Message
- Part II, 10. The Value of Money
- Part II, 11. The Way to Cheapen Flour
- Part II, 12. The Money Market and Nicholas Biddle
- Part II, 13. The Pressure, the Cause of it, and the Remedy
- Part II, 14. Connexion of State with Banking
- Part II, 15. The Crisis
- Part II, 16. The Bankrupt Banks
- Part II, 17. What We Must Do, and What We Must Not
- Part II, 18. The Foresight of Individual Enterprise
- Part II, 19. The Safety Fund Bubble
- Part II, 20. Separation of Bank and State
- Part II, 21. The Remedy for Broken Banks
- Part II, 22. Blest Paper Credit
- Part II, 23. Questions and Answers
- Part II, 24. The True and Natural System
- Part II, 25. The Bugbear of the Bank Democrats
- Part II, 26. Bank and State
- Part II, 27. Theory and Practice
- Part II, 28. Separation of Bank and State
- Part II, 29. Specie Basis
- Part II, 30. The Natural System
- Part II, 31. The Credit System and the Aristocracy
- Part II, 32. The Divorce of Politicks and Banking
- Part III, 1. Riot at the Chatham-Street Chapel
- Part III, 2. Governor McDuffie's Message
- Part III, 3. The Abolitionists
- Part III, 4. Reward for Arthur Tappan
- Part III, 5. The Anti-Slavery Society
- Part III, 6. Abolitionists
- Part III, 7. Slavery No Evil
- Part III, 8. Progress of Fanaticism
- Part III, 9. An Argument Against Abolition Refuted
- Part III, 10. Commencement of the Administration of Martin Van Buren
- Part III, 11. The Question of Slavery Narrowed to a Point
- Part III, 12. Abolition Insolence
- Part IV, 1. Despotism of Andrew Jackson
- Part IV, 2. The Division of Parties
- Part IV, 3. Rich and Poor
- Part IV, 4. The Street of the Palaces
- Part IV, 5. American Nobility
- Part IV, 6. The Inequality of Human Condition
- Part IV, 7. A Bad Beginning
- Part IV, 8. The Whig Embassy to Washington, and Its Result
- Part IV, 9. Right Views Among the Right Sort of People
- Part IV, 10. Newspaper Nominations
- Part IV, 11. Foreign Paupers
- Part V, 1. Monopolies: I
- Part V, 2. A Little Free-Trade Crazy
- Part V, 3. Asylum for Insane Paupers
- Part V, 4. Monopolies: II
- Part V, 5. Revolutionary Pensioners
- Part V, 6. Joint-Stock Partnership Law
- Part V, 7. The Ferry Monopoly
- Part V, 8. Free Trade Post Office
- Part V, 9. Stock Gambling
- Part V, 10. Weighmaster General
- Part V, 11. State Prison Monopoly
- Part V, 12. Corporation Property
- Part V, 13. Regulation of Coal
- Part V, 14. Free Ferries and an Agrarian Law
- Part V, 15. Thanksgiving Day
- Part V, 16. Municipal Docks
- Part V, 17. Associated Effort
- Part V, 18. The Coal Question
- Part V, 19. The Corporation Question
- Part V, 20. Free Trade Weights and Measures
- Part V, 21. Associated Effort
- Part V, 22. Sale of Publick Lands
- Part V, 23. Manacles Instead of Gyves
- Part V, 24. The Meaning of Free Trade
- Part V, 25. Gambling Laws
- Part V, 26. Free Trade Post Office
- Part V, 27. Free Trade, Taxes, and Subsidies
- Part V, 28. Meek and Gentle with These Butchers
- Part V, 29. The Cause of High Prices, and the Rights of Combination
- Part V, 30. Omnipotence of the Legislature
- Part VI, 1. Rights of Authors
- Part VI, 2. The Rights of Authors
- Part VI, 3. Right of Property in the Fruits of Intellectual Labour
THE MORALS OF POLITICS
Plaindealer, June 3, 1837.
Public moralists have long noticed with regret, that the political contests of this country are conducted with intemperance wholly unsuited to conflicts of reason, and decided, in a great measure, by the efforts of the worst class of people. We apply this phrase, not to those whom the aristocracy designate as the “lower orders;” but to those only, whether well or ill dressed, and whether rich or poor, who enter into the struggle without regard for the inherent dignity of politics, and without reference to the permanent interests of their country and of mankind; but animated by selfish objects, by personal preferences or prejudices, the desire of office, or the hope of accomplishing private ends through the influence of party. Elections are commonly looked upon as mere game, on which depends the division of party spoils, the distribution of chartered privileges, and the allotment of pecuniary rewards. The antagonist principles of government, which should constitute the sole ground of controversy, are lost sight of in the eagerness of sordid motives; and the struggle, which should be one of pure reason, with no aim but the achievement of political truth, and the promotion of the greatest good of the greatest number, sinks into a mere brawl, in which passion, avarice, and profligacy, are the prominent actors.
If the questions of government could be submitted to the people in the naked dignity of abstract propositions, men would reason upon them calmly, and frame their opinions according to the preponderance of truth. There is nothing in the intrinsic nature of politics that appeals to the passions of the multitude. It is an important branch of morals, and its principles, like those of private ethics, address themselves to the sober judgment of men. A strange spectacle would be presented, should we see mathematicians kindle into wrath in the discussion of a problem, and call on their hearers, in the angry terms of demagogues, to decide on the relative merits of opposite modes of demonstration.
The same temperance and moderation which characterize the investigation of truth in the exact sciences, belong not less to the inherent nature of politics, when confined within the proper field.
The object of all politicians, in the strict sense of the expression, is happiness—the happiness of a state—the greatest possible sum of happiness of which the social condition admits to those individuals who live together under the same political organization.
It may be asserted, as an undeniable proposition, that it is the duty of every intelligent man to be a politician. This is particularly true of a country, the institutions of which admit every man to the exercise of equal suffrage. All the duties of life are embraced under the three heads of religion, politics, and morals. The aim of religion is to regulate the conduct of man with reference to happiness in a future state of being; of politics, to regulate his conduct with reference to the happiness of communities; and of morals, to regulate his conduct with reference to individual happiness.
Happiness, then, is the end and aim of these three great and comprehensive branches of duty; and no man perfectly discharges the obligations imposed by either, who neglects those which the others enjoin. The right ordering of a state affects, for weal or wo, the interests of multitudes of human beings; and every individual of those multitudes has a direct interest, therefore, in its being ordered aright.
“I am a man,” says Terence, in a phrase as beautiful for the harmony of its language, as the benevolence and universal truth of its sentiment, “and nothing can be indifferent to me which affects humanity.”
The sole legitimate object of politics, then, is the happiness of communities. They who call themselves politicians, having other objects, are not politicians, but demagogues. But is it in the nature of things, that the sincere and single desire to promote such a system of government as would most effectually secure the greatest amount of general happiness, can draw into action such violent passions, prompt such fierce declamation, authorize such angry criminations, and occasion such strong appeals to the worst motives of the venal and base, as we constantly see and hear in every conflict of the antagonist parties of our country? Or does not this effect arise from causes improperly mixed with politics, and with which they have no intrinsic affinity? Does it not arise from the fact, that government, instead of seeking to promote the greatest happiness of the community, by confining itself rigidly within its true field of action, has extended itself to embrace a thousand objects which should be left to the regulation of social morals, and unrestrained competition, one man with another, without political assistance or check? Are our elections, in truth, a means of deciding mere questions of government, or does not the decision of numerous questions affecting private interests, schemes of selfishness, rapacity, and cunning, depend upon them, even more than cardinal principles of politics?
It is to this fact, we are persuaded, that the immorality and licentiousness of party contests are to be ascribed. If government were restricted to the few and simple objects contemplated in the democratic creed, the mere protection of person, life, and property; if its functions were limited to the mere guardianship of the equal rights of men, and its action, in all cases, were influenced, not by the paltry suggestions of present expediency, but the eternal principles of justice; we should find reason to congratulate ourselves on the change, in the improved tone of public morals, as well as in the increased prosperity of trade.
The religious man, then, as well as the political and social moralist, should exert his influence to bring about the auspicious reformation. Nothing can be more self-evident than the demoralizing influence of special legislation. It degrades politics into a mere scramble for rewards obtained by a violation of the equal rights of the people; it perverts the holy sentiment of patriotism; induces a feverish avidity for sudden wealth; fosters a spirit of wild and dishonest speculation; withdraws industry from its accustomed channels of useful occupation; confounds the established distinctions between virtue and vice, honour and shame, respectability and degradation; pampers luxury; and leads to intemperance, dissipation, and profligacy, in a thousand forms.
The remedy is easy. It is to confine government within the narrowest limits of necessary duties. It is to disconnect bank and state. It is to give freedom to trade, and leave enterprise, competition, and a just public sense of right to accomplish by their natural energies, what the artificial system of legislative checks and balances has so signally failed in accomplishing. The federal government has nothing to do, but to hold itself entirely aloof from banking, having no more connexion with it, than if banks did not exist. It should receive its revenues in nothing not recognized as money by the Constitution, and pay nothing else to those employed in its service. The state governments should repeal their laws imposing restraints on the free exercise of capital and credit. They should avoid, for the future, all legislation not in the fullest accordance with the letter and spirit of that glorious maxim of democratic doctrine, which acknowledges the equality of man’s political rights. These are the easy steps by which we might arrive at the consummation devoutly to be wished.
The steps are easy; but passion, ignorance, and selfishness, are gathered round them, and oppose our ascent. Agrarian, leveller, and visionary, are the epithets, more powerful than arguments, with which they resist us. Shall we yield, discouraged, and submit to be always governed by the worst passions of the worst portions of mankind; or by one bold effort, shall we regenerate our institutions, and make government, indeed, not the dispenser of privileges to a few for their efforts in subverting the rights of the many, but the beneficent promoter of the equal happiness of all? The monopolists are prostrated by the explosion of their overcharged system; they are wrecked by the regurgitation of their own flood of mischief; they are buried beneath the ruins of the baseless fabric they had presumptuously reared to such a towering height.
Now is the time for the friends of freedom to bestir themselves. Let us accept the invitation of this glorious opportunity to establish, on an enduring foundation, the true principles of political and economic freedom.
We may be encountered with clamorous revilings: but they only betray the evil temper which ever distinguishes wilful error and baffled selfishness. We may be denounced with opprobrious epithets; but they only show the want of cogent arguments. The worst of these is only the stale charge of
ultraism, which is not worthy of our regard. To be ultra is not necessarily to be wrong. Extreme opinions are justly censurable only when they are erroneous; but who can be reprehended for going too far towards the right?
“If the two extremes,” says Milton, in answer to the same poor objection, “be vice and virtue, falsehood and truth, the greater extremity of virtue and superlative truth we run into, the more virtuous and the more wise we become; and he that, flying from degenerate corruption, fears to shoot himself too far into the meeting embraces of a divinely warranted reformation, might better not have run at all.”
pure affection, slipped into his hand an order upon the Treasury for 1,000
l., and then went to his chariot. Marvell looking at the paper, calls after the Treasurer “My Lord, I request another moment.” They went up again to the garret, and Jack, the servant boy, was called. “Jack, child, what had I for dinner yesterday?” “Don’t you remember, sir? you had the little shoulder of mutton that you ordered me to bring from a woman in the market.” “Very right, child. What have I for dinner to day?” “Don’t you know, sir, that you bid me lay by the
blade-bone to broil?” ” ‘Tis so, very right, child, go away. My Lord, do you hear that? Andrew Marvell’s dinner is provided; there’s your piece of paper. I want it not. I knew the sort of kindness you intended. I live here to serve my constituents; the Ministry may seek men for their purpose;
I am not one.”
THE MONOPOLY BANKING SYSTEM