No; that may be wisdom in national economy which would be follyin private economy, and vice vers? and owing to the very simplereason, that a tailor is no nation and a nation no tailor, that onefamily is something very different from a community of millions offamilies, that one house is something very different from a largenational territory.Nor does the individual merely by understandinghis own interests best, and by striving to further them, if left tohis own devices, always further the interests of the community.Weask those who occupy the benches of justice, whether they do notfrequently have to send individuals to the tread-mill on account oftheir excess of inventive power, and of their all too greatindustry.Robbers, thieves, smugglers, and cheats know their ownlocal and personal circumstances and conditions extremely well, andpay the most active attention to their business; but it by no meansfollows therefrom, that society is in the best condition where suchindividuals are least restrained in the exercise of their privateindustry.
In a thousand cases the power of the State is compelled toimpose restrictions on private industry.It prevents the shipownerfrom taking on board slaves on the west coast of Africa, and takingthem over to America.It imposes regulations as to the building ofsteamers and the rules of navigation at sea, in order thatpassengers and sailors may not be sacrificed to the avarice andcaprice of the captains.In England certain rules have recentlybeen enacted with regard to shipbuilding, because an infernal unionbetween assurance companies and shipowners has been brought tolight, whereby yearly thousands of human lives and millions invalue were sacrificed to the avarice of a few persons.In NorthAmerica millers are bound under a penalty to pack into each casknot less than 198 lbs.of good flour, and for all market goodsmarket inspectors are appointed, although in no other country isindividual liberty more highly prized.Everywhere does the Stateconsider it to be its duty to guard the public against danger andloss, as in the sale of necessaries of life, so also in the sale ofmedicines, &c.
But the cases which we have mentioned (the school will reply)concern unlawful damages to property and to the person, not thehonourable exchange of useful objects, not the harmless and usefulindustry of private individuals; to impose restrictions on theselatter the State has no right whatever.Of course not, so long asthey remain harmless and useful; that which, however, is harmlessand useful in itself, in general commerce with the world, canbecome dangerous and injurious in national internal commerce, andvice vers? In time of peace, and considered from a cosmopolitanpoint of view, privateering is an injurious profession; in time ofwar, Governments favour it.The deliberate killing of a human beingis a crime in time of peace, in war it becomes a duty.Trading ingunpowder, lead, and arms in time of peace is allowed; but whoeverprovides the enemy with them in time of war, is punished as atraitor.
For similar reasons the State is not merely justified inimposing, but bound to impose, certain regulations and restrictionson commerce (which is in itself harmless) for the best interests ofthe nation.By prohibitions and protective duties it does not givedirections to individuals how to employ their productive powers andcapital (as the popular school sophistically alleges); it does nottell the one, 'You must invest your money in the building of aship, or in the erection of a manufactory;' or the other, 'You mustbe a naval captain or a civil engineer;' it leaves it to thejudgment of every individual how and where to invest his capital,or to what vocation he will devote himself.It merely says, 'It isto the advantage of our nation that we manufacture these or theother goods ourselves; but as by free competition with foreigncountries we can never obtain possession of this advantage, we haveimposed restrictions on that competition, so far as in our opinionis necessary, to give those among us who invest their capital inthese new branches of industry, and those who devote their bodilyand mental powers to them, the requisite guarantees that they shallnot lose their capital and shall not miss their vocation in life;and further to stimulate foreigners to come over to our side withtheir productive powers.In this manner, it does not in the leastdegree restrain private industry; on the contrary, it secures tothe personal, natural, and moneyed powers of the nation a greaterand wider field of activity.It does not thereby do something whichits individual citizens could understand better and do better thanit; on the contrary it does something which the individuals, evenif they understood it, would not be able to do for themselves.
