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"For your great seats, now quit you of great shames."-SHAKESPEARE

NEW YORK

PUBLISHED FOR THE N. Y. FREE TRADE CLUB

By G. P.

PUTNAM'S

182 FIFTH AVENUE

SONS

.

THE WEALTH OF NATIONS. An enquiry into the Nature and Causes of. By ADAM SMITH. 12mo, cloth extra, 792 pages $2.00 A perennial work, and the only book in history to which bas been accorded the honor of a Centennary Celebration.

ESSAYS

ON

POLITICAL

ECONOMY. By FREDERICK

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BASTIAT, with Introduction and Notes by DAVID A. WELLS 12mo, cloth $1 25 "he laws of an abstruse science have never been made more clear, or expressed more forcibly."-Cincinnati Commercial.

THE SOPHISMS OF PROTECTION. with Introduction by HORACE WHITE. pages

BY FREDERICK BASTIAT, 12mo, cloth extra, 400 $1 00 "Contains the most telling statements of the leading principles of Free-Trade ever published."-N. Y. Nation.

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WHAT IS FREE-TRADE? An Adaptation for American Readers of Bastiat's Sophism of Protection." By Emile Walter, a Worker, 12mo, cloth

12mo, cloth

75

"Unsurpassed in the happiness of its illustrations."-N. Y. Nation. SOCIAL ECONOMY. By Prof. J. E. THOROLD ROGERS. Revised and edited for American readers. 75 "Gives in the compass of rages, concise, yet comprehensive answers to the most important questions in social e my cannot be too highly recommended for the use of teachers, students, and Lue general public.”—American Áthenæum. PROTECTION AND FREE-TRADE. A series of essays.

ISAAC BUTTS.

12mo, cl 1. extra

By $125

"A clear and effective presettaton of the case."—N. Y. Evening Post. AN ALPHABET IN FINANCE. A simple statement of permanent principles, and their application to questions of the day. By GRAHAM MCADAM. With Introduction by R. R. BOWKER. 12mo, cloth, $1 25 "A timely volume whose directness and raciness can but be of service."-New Englander

"A model of clear-thinking and happy expression."-Portland Press. SUMNER (Prof. W. G., of Yale College) Lectures on the His. tory of Protection in the United States. Octavo, cloth

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"There is nothing in the literature of free-trade more forcible and effective than this little book."--N. V. Post,

"The book is especially timely, because it furnishes an adequate application of the principles of economic science to the concitions existing in this country."-Buffalo Courier.

WELLS (DAVID A.)

How shall the Nation Regain Pros perity? A Discussion of the elements and amount of our National Wealth, and the causes and remedies for the present industrial, commercial, and financial depression. 8vo, cloth. (In preparation). STURTEVANT (Prof. J. M.) Economics, or the Science of Wealth. A TREATISE ON POLITICAL ECONOMY, for the use of High Schools and Colleges, and for the general reader. Octavo, cloth. I 75

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PUBLISHED FOR THE N. Y. FREE TRADE CLUB
BY G. P. PUTNAM'S SONS

182 FIFTH AVENUE

HB
31

COPYRIGHT BY G. P. PUTNAM'S SONS, 1879.

HINDRANCES TO PROSPERITY;

OR

CAUSES WHICH RETARD FINANCIAL AND POLITICAL REFORMS IN THE UNITED STATES.*

Mr. President and Gentlemen:

It must appear something like a paradox to my hearers, but I shall maintain, in this address, that in all financial and political reformatory measures, we do not keep pace with our sister nations of Europe.

That the mass of our people is perhaps better fed and clothed than those standing upon the same level abroad, is due to causes quite independent of legislation and politics; but that our people are not better off than we find them, is mainly due to our inaptitude to appreciate and carry out what other nations have done in the way of such reforms.

In every form of society there is, and always has existed, a spirit which desires change, and a vis-inertiæ which happily resists change of every kind, be it beneficial or otherwise. This conservative element prevents

* An Address delivered on the 21st of November, 1878, before the N. Y. Free Trade Club.

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