Political Economy

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5, on manufactures. It would be dif- ficult to find, among all the state papers or treatises on political economy which appeared before the close of the 18th century, any pro- ductions of this character surpassing these in a thorough knowledge of the subjects, clear- ness and precision of statement, and logical exactness. The report of Alexander J. Dallas, secretary of the treasury, to the house of rep- resentatives, Oct. 17, 1814, on the national finances, and that of Feb. 12, 1816, in regard ...to a general tariff of duties, are among the able economic state papers which have emana- ted from this government. The "Addresses of the Philadelphia Society for the Promo- tion of National Industry" (1819), and "The New Olive Branch " (1820), subsequently with other papers collected and published under the title of "Essays on Political Economy " (1822), by Mathew Carey, dealt almost entirely in facts, figures, and references to history; and thus Carey reached the conviction that "there is a complete identity of interest between agri- culture, manufactures, and commerce." The first formal treatise on the subject written in the United States is Daniel Eaymond's " Thoughts on Political Economy " (Baltimore, 1820).

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