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its deliberations. Regarded as the the masterly demonstration immediprincipal organ of the Democracy of ately called out by the topics of the New England in that body, during the period, of his high powers of senatoadministration of President Adams, his rial debate. He has taken a promiclear and powerful expositions of its nent part in all the great discussions views were received with great defer- which have arisen, especially those inence on several important occasions. volving the leading questions of the During those four sessions he was ap- public finance. His services have been pointed Chairman of the Committee on invaluable to the Democratic Party in Commerce. On the expiration of his the Senate. His profound and extenterm, on the third of March, 1831, he sive knowledge on this subject, his declined a re-election, his private af- equal familiarity with great priociples fairs requiring his attention at home. and minute details, his clearness of He was a few days thereafter elected logic and of language, and his vigito the Senate of his State, but in the lance in the detection and his readiness ensuing month of April, he accepted in the refutation of the fallacies of the General Jackson's invitation to a seat opposite side of the party division, in his cabinet as Secretary of the Navy. have been brought into constant play, After the rejection of Mr. Taney as and have never been wanting to the Secretary of the Treasury by the occasion. Mr. Woodbury has earned a Senate, Mr. Woodbury was transferred brighter laurel within ihe past two to that department, for which he re- years on the floor of the Senate, even ceived the confirmation of the Senate, ihan any before gracing his brow. It in June, 1834. In that post he con- is scarcely necessary to say that he has tinued till the close of Mr. Van Buren's been one of the foremost champions of Presidency-passing from it directly Free Trade. As the leading represeninto his former seat in the Senate, to tative of the Democracy of one of the which he had been elected by the Le- great sections of the Union, New Enggislature of his State during ihe course land, Mr. Woodbury's position is not of the preceding winter, for the six only already one of the most enviable years commencing with the 4th of eminence on the stage of public life, March, 1841.

but it places him in an open path at It had been so long since Mr. Wood- no far distance from an honor surpassbury had appeared before the country ing any yet conferred on him, by the in this capacity, that his former legis- public appreciation of his abilities, lative reputation was almost forgotten, worth, and services. and the public was little prepared for

LETTER FROM THE EDITOR OF THE LONDON PHALANX.

TO THE DEMOCRATIC REVIEW.*

LONDON, Dec. 8111, 1842,

damentals; and as that review is writ3 Catharine-street, Strand.

ten by, a gentleman deservedly esTo the Editor of the Democratic Review

teemed, on this as well as on your side Sır :—In the Number of the of the Atlantic, for high attainments Democratic Review for November, and a fearless advocacy of whatever 1842, there is an absolutely erroneous he believes to be the truth, the opi. statement or review of Fourier's prin- nion he expresses with regard to Fouciples, particularly with regard to fun- rier's views and principles is fraught

• We have already inserted in our Number of last December, a somewhat similar Protest, of our own cis-Atlantic Fourierism, against the article by Mr. Brownson here referred to. But our high respect for the ability of the writer of the present Letter, and for the noble spirit and lofty aim of the philosophy to the advocacy of which his journal is devoted, forbids us to decline his request for its insertion, even though much of its contents have been thus already anticipated by another writer of the same school.-Ed. D. R.

320

Letter from the Editor of the London Phalanx. (March, with danger to the progress of real precedency to another in the graduattruth, so far as Fourier's views of pro- ed scales of inequality, insures a real gress are concerned. It is to neutralize and a living equality of right, which that influence, then, as far as possible, could not be insured by stagnant, and that I ask permission to state briefly tó monotonous, and more or less oppressyour readers, that Mr. O. A. Brown- sive levelling equality. But this reson's appreciation of Fourier's princi- lates to the practical mechanism of ples is absolutely incorrect. To me it Fourier's principles in action, which is is a matter of surprise, that Mr. not the cause of my remarks at present; Brownson should pronounce opinions that which I am most desirous of alpositively on that subject, after openly luding to, in Mr. Brownson's article, avowing he had not had leisure to in- relates to the religious doctrine of vestigate it thoroughly; but I will not Fourier. comment upon that fact, further than In that article, page 487, Mr. to put your readers on their guard Brownson says, “ Fourier's theodicy is, against admitting the appreciation he if we understand it, nothing but matehas given, while his mind was unpre. rial Pantheism, a polite name for Athepared for such a task.

ism.” This is a very great error, and With all that Mr. Brownson states the deserved influence of Mr. Brownin general terms, regarding principles son on public opinion generally, in of progress in society, he is at one with Europe as well as in America, renders Fourier ; his error lying chiefly in the it most dangerous. The simplest supposition that Fourier's general answer I can give to it, is to state, that views are different. All that is stated, Fourier is a Christian, and say is, even, by the lady in her letter on though the man has left the natural “Brook Farm,” is quite accordant with for the spiritual world, where the soul, Fourier's views, as far as a mere germ according to his luminous explanation may be compared to full development of the Christian doctrine of immorof principle; the universal basis of tality, is infinitely more living and conFourier's system being that of " free scious of eternal truths than in terresattraction," harmonized by unitary trial life. _In addition to this, I may discipline. All that Mr. Brownson add that Fourier openly professed himlauds as good, then, and desirable in self a Christian in his writings, and desocial progress and economy, not only nounced the idea of any person after agrees with Fourier's views, but is de- his death, making use of his new and veloped positively in his writings; ex- lucid explanations of Christian princicept one point-that of equality of ples, to institute a new religion. This condition,” which, according to Fou- he did expressly to prevent his version, rier, is not desirable, in the common or rather his interpretation of the Word notion of equality. Graduated ine- of God, from being confounded with quality is the chief feature of his new pretensions to Revelation, while, social mechanism, and yet that princi- in reality, they are but new developple insures equality of right. The leader ments of the truths of Christian docof a corporation of art, or science, or trine, though they differ widely from industry, in one particular branch, is the orthodox” interpretations of the president of that corporation while it is Word. They are, in fact, a positive in action, but the moment he engages inversion of all the leading doctrines in another corporation of a different of theology, except in a few cases, function in society, he stands the where the meaning of the Word is so chance of being last and least in it, in- obvious to common understanding, that stead of first and greatest, as he was be- no person can misunderstand it. This fore. And this constant oscillation of contrast of Fourier's interpretation of individuals from the first place of dis- the Word, with that of ihe Church tinction in one corporation io the last in generally, results from the fact of all another, and through the various inter- the doctrines of religion and philosomediate degrees from first to last in a phy, hitherto admitted in the world, or variety of corporations, every individ- nearly all, being based on the doctrine ual taking part in a greater or smaller of the “curse ” and of “innate denumber of industrial, artistic, or ad- pravity," while that of Christ, Fouministrative functions,—this very fre- rier maintains, is based on the princiquent movement from one degree of ple of primitive purity and ultimate

redemption. The “curse” being ac- evident, that the details of science in cidental in the destiny of man, or rather the various branches pertaining more temporary and transitional, for he does or less directly to a complete theory of not admit of anything being accidental, architecture, are too numerous and insomuch as the Providence of God is complicated for every individual in absolute and universal.

the state to master; but it does not I may also state that such words as follow that they are impracticable or those made use of by Mr. Brownson, unnecessary. are not to be met with in the writings Fourier's system of society is like of Fourier. Neither the word " Theo- the human frame, exactly, for he dicea," nor “Pantheism,” was ever proves that God has pre-ordained it used by him; and if his doctrine had should be so; the individual body being been one of “ material Pantheism,” he a type of the collective body, of huwould surely have given it a name to manity; and though that type is inficorrespond with its nature. He has nitely various in its details, it is exwritten on Cosmogony, Psychology, ceedingly simple in its general proporUniversal Analogy, and Revelation, tions. A head, a body, and four limbs, and all his doctrines he confirms from comprise the whole ; and none but the Word of God, and particularly those who are to constitute the head from the Christian Revelation. His and heart of the collective body need doctrine of the Passions is a key to trouble themselves with the internal Revelation, the mysteries of which it organism of these leading members of opens universally. It is not a new the constitution. The principle, in gen: religion he has taught, but a new view eral aspect, is exceedingly simple and of the religion of Christ and his ever- harmonious; in particulars of internal lasting Church.

progress and refinement, life and varied Mr. Brownson affirms that “He action, it is indeed stupendously midenies the progress of humanity.” nute. I will conclude by stating, that This is absolutely erroneous.

Not all that Mr. Browdson advocates in his only does he not deny the progress of article, is in harmony with Fourier's humanity, but he affirms its progress views and principles, except his notion to be eternal, and explains its progress of “equality,” wbich we believe to from the beginning to the end of its be oppressive and Procrustean. Foucareer on this globe, and after the rier advocates graduated alternating destruction of the material earth. He inequality,” which is real, passional, or explains the principle of its progress living equality of right, to act in freeon immortality; in natural and spirit- dom with our will and faculties, withual life and destiny; and that pro- out oppressing one another. This gress is infinite, but not indefinite in its answer to Mr. Brownson's misunderparticular degrees. There are many standing, and erroneous appreciation of other points in Mr. Brownson's notice, Fourier's doctrine, is a proof of the absolutely incorrect, relating to Fou- high estimation in which I hold his rier, which I will not enlarge upon, noble mind, of which I need give him but leave the task of general correc no labored or constrained assurance. I lion in the hands of Mr. Brisbane, who, agree with him in sympathy, and genI believe, confines himself almost ex- erally in idea, whenever I read his clusively to the exposition of the prac- writings, and I hope he will either tical parts of Fourier's views, not being make himself better acquainted with conversant with all the various doc- Fourier, or refrain from injuring the trines of Divinity in Christendom. cause of truth and human progress, by

Mr. Brownson states that Fourier's creating prejudice against a doctrine plans are too mechanical, complex, and which he has not leisure to investigate difficult to realize in practice. This is sufficiently. In this hope, Mr. Editor, a point which may be compared to any I have the honor to remain branch of art or science; take, for in Your obedient humble servant, stance, architecture, the Fourier system

HUGH DOHERTY. being one of social architecture. It is

VOL. XII.-NO. LVII.

MONTHLY FINANCIAL AND COMMERCIAL ARTICLE. All the features of the money market commerce influenced the minds of present, as the spring season of activity men unfavorably until the result of the approaches, increased indications of vote upon the measure banished apprerenewed prosperity in all the great bension, and induced confidence that channels of business. Specie conti- adherence to the sound principles of nues to accumulate in the seaports, 'the Sub-Treasury would give to trade and during the past month a great im- its freedom of action, and to its laws pulse has been given to the disposition the governing power over prices and to invest in stock, by the decided property. This view of affairs seems majority by which ihe Exchequer to have induced the same resulis in the scheme has been defeated in Congress. stock market generally as did the pasThat measure was justly looked upon sage last winter of the tax law by the with alarm by capitalists, who have Legislature of New York on the sebeen taught by the experience of the curities of that State. The remaining past few years, that no stability lo portion of the government loan, commercial affairs, nor regular course of amounting to nearly $3,500,000, has business, can exist under the fluctua- been taken at par, and is now held tions incident upon the use of paper as at 3 and 4 per cent. premium. Nearly a general circulation, if issued either $500,000 of Massachusetts 5 per cent. upon

the credit of individual associa- stock has also been taken at S6 40-100 tion, or of the Federal government. by an eminent citizen. All sound stocks Its violent and arbitrary vacillations have improved in a similar degree. place all property at the mercy of de New York 6 per cents. command par, signing speculators. It nullifies the and the 5 per cents. S9 a 90. This rise calculations of the prudent and the has been produced by the quantity of skill of the sagacious, and renders the money seeking invesiment, now that a risk of investments too great for the portion of the discredit attached to cautious. On the other hand, when stock has been removed. The low we take into consideration the im- price of foreign bills, and the want of mense wealth of the country, the low other means of investment, has induced money prices of all the results of labor, the banks to become purchasers of bills and remember that those prices are the to some extent to import specie,-an effect only of the transition from the operation which, at present rates, will use of a redundant paper currency to yield nearly 7 per cent., while the disthe small quantity of specie now in count rate for the best business paper circulation, we become aware that it is now offering, is scarcely 5 per cent., the small supply of currency in propor- and consists in some degree of the short tion to the abundance of industrial pro- notes given for bills by individual imduets, which causes money to be dear porters of coin. Some of the banks rather than produce to be cheap. The have reduced the rate of discount on supply of currency is now increasing at all paper 10 6 per cent., and they loan the rate of several millions per month; freely on New York and government it must, therefore, inevitably follow stock at that rate. All this bespeaks that the relative value of commo- that returning willingness to lend modities will change with the operation. ney which enlarges the field of comThe proportional supply of money will mercial operations, and multiplies the cause it io be cheaper as it increases, number of active men. In order 10 and of goods to become relatively dear. estimate the great change which has This is the process now going forward, been and is taking place in the quangoverned by the immutable laws of tity of capital employed in banking, we trade. To disturb it at this crisis by have compiled from official sources the the issue of government paper,-to returns of the banks in sixteen States substitute it in circulation for the in- which have made their annual statecreasing volume of specie now flowing ments, and compared the aggregates in, would only produce disaster. The with those of former years for the same fears of such unwise interference with States :

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